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E-SHIPS

Top Ships Enters 3 New Charters

TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced today that it has terminated the charter parties of M/T EShips Taweelah, Hull number S407 and Hull number S414 with Emirates Ship Investment Company (ESHIPS) LLC and that it has entered into new charters for these vessels with Stena Weco A/S. As a result of this termination, ESHIPS will pay the company a compensation of $500,000. The new charters are for 3 + 1 + 1 years at $16,200 per day for the first three years, $17,200 per day for the first optional year and $18,000 per day for the second optional year. The ESHIPS charters that were terminated were for 2 + 1 years at $16,000 per day for the first two years and $17,250 per day for the optional year. Stena Weco A/S has an option until August 10, 2014 to declare the charter of M/T EShips Taweelah to a 5 + 1 + 1 years at respective gross daily rates of $16,800 for the first five years, $17,500 for the first optional year and $18,200 for the second optional year. "This is a very positive development for the company,” Evangelos Pistiolis, CEO of TOP Ships, stated. “Our gross contracted revenue, over the firm period of our charters, has increased by 18% to $117 million, up from $99 million under the previous charters


Northrop Grumman Appoints Reith as Controller for NN Sector

Northrop Grumman Corporation’s Newport News sector has appointed David Reith to the position of controller. In this role, Reith has responsibility for internal systems and process controls for Newport News' accounting and operations finance functions. Reith will report to Linda Leukhardt, vice president of Business Management and chief financial officer for the Newport News sector. "Dave's considerable business and financial management experience will be a significant asset to the Newport


MacAndrews Upgrades Indian Ocean Service

MacAndrews has upgraded the existing tonnage on its Swahili Express Service, which provides a regular container service between the Indian sub-continent, the Middle East/Gulf and East Africa, with a new vessel. The new ship, MacAndrews SWALA, is 1100 teu capacity and is one of two vessels in the service which has a nine-day sailing frequency and calls at Khor Fakkan, Karachi, Nhava Sheva, Jebel Ali, Dar es Salaam and Mombasa with a 28-day round voyage time


CMA CGM Upgrade its ASEA Service

CMA CGM Group is pleased to announce the upgrading of its ASEA service connecting Asia, Kenya and Tanzania, effective since October 12th, 2011. The new ASEA weekly service will deploy 6 ships of 2500 TEU (4 provided by CMA CGM Group and 2  provided by Emirates Shipping Line) and will allow the Group to provideits customers with below  pluses: - Direct weekly service to Kenya and Tanzania gateways - Deployment of bigger vessels


Statoil Expands Brazil Offshore Exploration

Nick Maden: Photo credit Statoil

Statoil expands  its exploration portfolio with the acquisition of 25% participating interest from Vale SA in BM-ES-22A in the Espirito Santo Basin offshore Brazil. BM-ES-22A is comprised of the two Blocks ES-M-468 and ES-M-527. Petrobras is the operator with 75% equity and Vale holds a 25% share. It is located in the Outer Espirito Santo Basin partially adjacent to the BM-ES-32 license where Statoil is partner and which holds the Indra discovery.


North Korea-flagged tanker finishes loading at Libya rebel port

A North Korean-flagged tanker has finished loading crude at the Libyan rebel-controlled port of Es Sider but has not yet left the terminal, Libyan oil officials said on Monday. Libya's government has threatened to bomb the Morning Glory should the tanker try sailing off with crude from the eastern port, one of three seized by armed protesters demanding a share of oil revenues and political autonomy. "The tanker has finished loading but is still anchored in Es Sider


East Africa Joint Service Launches

Evergreen Line, Wan Hai Lines Ltd (WHL), and Simatech Shipping have agreed to operate an East Africa Service (EAF) with three ships of 1,200 TEU capacity. Evergreen, WHL, and SSF will each operate one vessel. The East Africa (EAF) service will have the following port rotation: Colombo - Mombasa - Dar es Salaam - Colombo The first EAF sailing is scheduled to commence from Colombo on May 11, 2010.  


$14m Up For Grabs in RPSEA R&D Program

RPSEA Releases Ultra-Deepwater Program RFP  to fund research & development projects to secure energy for America. The Research Partnership to Secure Energy for America (RPSEA) announces the release of the remaining 2011 Ultra-Deepwater Program request for proposals (RFP) to award $14 million in oil and natural gas research and development projects offshore. This RFP will include the following four Technical Areas of Interest:


ASMAR Uses FORAN for New Research Vessel

Cabo de Hornos

FORAN has been the CAD/CAM System used by the Chilean shipyard ASMAR in the development of an Oceanographic and Fisheries Research Vessel, a state of the art design built for worldwide oceanographic and fishing service and geological research. The vessel, Cabo de Hornos, has been already delivered. With a length overall of 74.1 m, breadth molded of 15.6 m and depth to main deck of 8.5 m, the vessel can reach a speed of 14.3 knots, with accommodation for 68 persons


Islamic State Militants Attack Forces Guarding Libya Oil Port - official

Islamic State militants attacked forces guarding one of Libya's main oil ports on Thursday with a gun assault and an attempted car bomb in an escalation of their campaign in the North African state, a local security official said.   Islamic State has gained ground in Libya where two rival governments -- one internationally recognized and the other self-declared -- are battling for control, leaving a security vacuum four years after the uprising toppled Muammar Gaddafi.  


Libya's Largest Oil Port Begins Work

Image courtesy: Ansamed

 Libya has begun maintenance of the port of Es-Sider, biggest in the country of the terminal on oil export as part of plans to increase output from Africa’s biggest holder of crude reserves, says RNS.   Exports should resume in a month once official orders are received to reopen


Libyan Commander's Seizure of Oil Ports Risks New Conflict

Libyan forces loyal to eastern commander Khalifa Haftar said on Monday they had tightened their control over four major oil ports, casting a Western-backed project to unite Libya and revive oil exports into deep uncertainty.   Haftar's forces met little resistance as they seized the


Libya Resumes Oil Exports from Some Major Ports

Libya is resuming oil exports from some of its main ports which forces loyal to eastern commander Khalifa Haftar seized in recent days and has lifted related "force majeuere" contractual clauses, the National Oil Corporation said on Thursday.  


Libya Exports First Oil Cargo From Ras Lanuf Since 2014

Photo: NOC

An oil tanker left the Libyan port of Ras Lanuf for Italy early on Wednesday with the first crude export cargo from the terminal since at least late 2014, boosting hopes of reviving Libya's battered oil output. The port manager of Ras Lanuf said a second tanker was preparing to load at the


Four Tanks Ablaze at Libyan Ports

Fires caused by clashes between Islamic State militants and guards near Libya's biggest oil ports have spread to four oil storage tanks that were still burning on Wednesday, a guards spokesman said. Ali al-Hassi said the Petroleum Facilities Guards were in control of Es Sider and Ras Lanuf ports


Fire Spreads at Libyan Oil Port Terminals

Fires have spread to seven oil tanks at Libya's ports of Ras Lanuf and Es Sider following attacks this week by Islamic State militants, a Petroleum Facilities Guards (PFG) spokesman said on Thursday. Ali al-Hassi said five storage tanks were burning at Es Sider and two at Ras Lanuf.


CMA CGM Modifies its Midas and Swahili Services

Midas. Map by CMA CGM

 CMA CGM has announced the strengthening of its current MIDAS service by cooperating with PIL under a new Vessel Sharing Agreement. A fleet of 11 vessels of 3,500 TEU nominal capacity will be deployed, and CMA CGM will contribute to the majority with 9 vessels.  


Terex STS Cranes for Tanzanian HPH Terminal

TPS will supply two Terex Courtesy Terex

Terex Port Solutions (TPS) has received an order to supply two Terex ship-to-shore cranes (STS) to Tanzania International Container Terminal Services (TICTS), a member of Hutchison Port Holdings Limited (HPH), a leading port investor, developer and operator


Eastern Libya Ships First Oil Cargo in Defiance of Tripoli

A government based in eastern Libya has shipped its first cargo of crude in defiance of authorities in the capital Tripoli, a bold move that could deepen the divisions that have brought chaos since the fall of Muammar Gaddafi.   The Tripoli authorities asked the U.N


Maersk Fights to Stay on top as Containership Downturn Deepens

Maersk Mc_Kinney Moller (Photo courtesy Maersk)

Denmark's Maersk Line is fighting to remain the world's no.1 container shipping carrier as a wave of mergers and acquisitions, particularly in Asia, creates new challengers trying to grab a bigger share of a depressed market. Maersk itself hasn't made a major acquisition for more than a decade


CMA CGM to Reshuffle its India Middle East Gulf Route

Map: CMA CGM

 In a continued effort to provide increased reliability and quality services in a challenging environment, CMA CGM will reorganize its services connecting India Middle East Gulf to East Africa strategic markets.   Starting mid July 2016


Maersk Line Mulls India-East Africa Business with Mawingu Express

Image:  Maersk Line

 The Mawingu Express, Maersk Line's direct service from India to Kenya, offers the fastest transit times in the market and better port coverage to bring clients closer to East Africa, claims the company.   "Through our global connections coupled with superior customer care and


Maersk Takes Business from India to East Africa Faster Than Ever Before

Map: Maersk Line

 The Mawingu Express, Maersk Line's direct service from India to Kenya, offers the fastest transit times in the market and better port coverage to bring business closer to East Africa.   "Through our global connections coupled with superior customer care and market expertise


Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will start lifting a blockade on eastern oil terminals over the next three days, though a resumption of exports will depend on the state of


Libyan Oil Exports to Resume from Closed Ports

Libyan oil exports from closed ports should resume in no more than one to two weeks after a deal was signed between the government and an armed brigade controlling the terminals, President Council member Mousa Alkouni told Reuters on Friday.  






 
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