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 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
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.
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
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:
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
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
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
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.
According to a report from Reuters, two fully loaded Greek tankers carrying around 1.2 million barrels of crude oil left the Libyan port of Es Sider on March 1, the vessels' owner said. (Source: Reuters)
Danos recently added an Environmental Services Division to the company’s collection of oilfield related services, which includes production workforce, construction, fabrication, coatings, instrumentation and electrical, and shorebase and logistics.
Libya will not be able to export oil through its two largest eastern ports before August, due to safety checks after a near year-long closure, a senior oil official said on Wednesday. The latest twist in a spiral of violence also casts a shadow over the vital deal two weeks ago to end the
Jotun, the global leader in marine antifouling coatings, has signed a landmark agreement with Maersk Line to supply Hull Performance Solutions with SeaQuantumX200 for the Triple-E new build project. The Triple-Es are the world’s largest ships - renowned as much for their energy
Oil fell towards $111 a barrel on Wednesday, its lowest in almost three weeks, on a possible substantial recovery in Libyan exports after rebels said they would reopen two oil terminals. Libyan rebels blockading eastern oil ports have agreed to reopen the remaining two terminals at Es Sider and
Organized every two years among the FORAN users, the Eight FORAN Users Meeting (FORUM 2014) took place from June 11-13 in the Parador de la Granja, Segovia. The event started on Wednesday, June 11, with a guided visit to the Royal Palace and Gardens of La Granja
Workers at Kenya's main port of Mombasa stopped operations for hours on Thursday, demanding more pay and paralysing dock work at the region's main gateway, union and management officials said, with the possibility of more disruptions this week.
COMPIT, Europe’s annual international conference on computer applications and information technology in the Maritime Industries, took place this year from May 12-14 in Redworth, U.K., with the participation of SENER. SENER’s Rodrigo Pérez presented the paper “An
The Annual Meeting of ASSONAVE, the association of Italian shipbuilders, ship-repairers and producers of marine components and systems took place in Rome recently, chaired by its President, Vincenzo Petrone. Main points as follows: The Association explains that this was the first meeting to take
Rebels occupying major oil ports in eastern Libya said on Wednesday they would boycott Prime Minister Ahmed Maiteeq and keep two major export terminals shut for now, a blow to efforts to restore vital oil exports. The rebels even warned they would take action
Stance threatens efforts to reopen terminals; Maiteeq sworn in as PM after chaotic election. Seizure of ports, oilfields has cut vital crude output. Rebels occupying major oil ports in eastern Libya said on Wednesday they would not deal with new Prime Minister Ahmed Maiteeq
A second tanker has berthed at Libya's eastern Hariga port to load oil from its storage tanks since it reopened under a deal between the government and protesters, an oil official said on Tuesday. The port, located in Tobruk near the border with Egypt
Libya's eastern oil port of Zueitina, which had been occupied by rebels as part of an eight-month oil blockade, will reopen after damage at its facilities has been assessed, the country's justice minister said on Sunday. Salah al-Merghani also told reporters in the eastern city
Technical problems have delayed the reopening of Libya's eastern Zueitina oil export terminal after the government reached a deal with rebels to end an eight-month blockade of the port, a minister said on Sunday. Two weeks ago, the Tripoli government reached an agreement with rebels in the
Technical problems have delayed the reopening of Libya's eastern Zueitina oil export terminal after the government reached a deal with rebels to end an eight-month blockade of the port, a minister said on Sunday. Two weeks ago, the Tripoli government reached an agreement
While patrolling in the Indian Ocean off the coast of Africa, Royal Australian Navy ship HMAS Darwin provided emergency medical assistance for a heart attack victim on a French fishing vessel. The French Fishing Vessel (FV) Cape Saint Vincent called for assistance late on the night of April 10