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GLOBAL MARINE TRANSPORTATION

Omega Declares Quarterly Cash Dividend

Omega Navigation Enterprises, Inc. a provider of global marine transportation services focusing on product tankers announced today that its Board of Directors declared a quarterly cash dividend with respect to the second quarter of 2007 of $0.50 per common share, payable August 31, 2007 to stockholders of record on August 17, 2007.


Omega Navigation 1Q 2007 Results

Omega Navigation Enterprises, Inc. , a provider of global marine transportation services focusing on product tankers announced its unaudited financial and operational results for the first quarter ended March 31, 2007. The Company had previously announced the declaration of its quarterly cash dividend with respect to the first quarter of 2007 of $0.50 per share payable on May 31, 2007 to stockholders of record on May 21, 2007.


Eagle Bulk Shipping Takes Delivery of Supramax Drybulk Vessel

Eagle Bulk Shipping, Inc., a global marine transportation company specializing in the Supramax segment of the dry bulk shipping industry,announced that it has taken delivery of the Shrike, a 2003 built 53,343 dwt Supramax dry bulk vessel. The Shrike was acquired as part of a three vessel transaction announced on February 28, 2007. The Shrike will immediately commence a 24-27 month charter at a rate of $24,600/day. The charterer has an option to extend the charter period by 12-14 months at a


Omega Navigation Enterprises Declares Cash Dividend

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV, SGX:ONAV50), a provider of global marine transportation services focusing on product tankers announced that its Board of Directors declared a quarterly cash dividend with respect to the third quarter of 2007 of $0.50 per common share, payable November 30, 2007 to stockholders of record on November 15, 2007. The company recently announced the signing of shipbuilding contracts to construct and acquire five newbuilding double hull Handymax


News: Signet Martime Inks Garrett Contract

Signet Maritime Corp. and Garrett Marine, Inc. executed agreements August 29, 2003, for charter and purchase of Garrett's Aransas tug business, finalizing plans that originated in 2002 to expand Signet's presence in the Aransas Pass/Ingleside region. The Garrett family, which has been serving marine tug needs in Texas for almost 50 years, agreed to terms for handing over responsibility for tug operations to Signet for marine and construction firms in the Aransas Pass/Ingleside region.


Omega Navigation, Capital Injection by Founder & CEO

Omega Navigation Enterprises, Inc. (NASDAQ: ONAV, SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it agreed to a capital infusion of $5.25m through a loan by its founder, CEO and largest shareholder, George Kassiotis. The capital infusion will be made through a company owned and controlled by George Kassiotis in the form of a secured convertible promissory note which, under certain circumstances and at the option of the holder


Omega Navigation Enterprises Reports 3Q Results

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV, SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced its financial and operational results for the third quarter ended September 30, 2007. The Company had previously announced the declaration of its quarterly cash dividend with respect to the third quarter of 2007 of $0.50 per share payable on November 30, 2007 to stockholders of record on November 15, 2007.


Omega Navigation Joint Venture for Omega Duke

Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced it has taken delivery of the first of its newbuildings, the 47,000 dwt. Omega Duke. It further announced that it has taken several measures to better position itself to fund its newbuilding commitments from internally generated cash flow. As previously announced, Omega has commitments from commercial banks to provide 75% financing at


Megacore Shipping New Product Tankers

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV, SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it has formed an equal partnership (50/50) joint venture company with Topley Corporation, a wholly owned subsidiary of Glencore International AG (Glencore). The name of the joint venture company is Megacore Shipping Ltd. Companies owned by Omega and the Glencore group have novated their respective original shipbuilding contracts


USMMA Announces 2013 Commencement Speaker

Gen. William Fraser III, Commander, U.S. Transportation Command

The U.S. Merchant Marine Academy (USMMA) today announced that Gen. William M. Fraser III, Commander, U.S. Transportation Command (USTRANSCOM), has been chosen as this year's commencement speaker to be held at USMMA on Monday, June 17, 2013.   “The United States Merchant Marine Academy is honored to have General Fraser as our commencement speaker. He epitomizes the ideals of our Academy.  He is an outstanding role-model for our graduates who are about to embark on a lifetime


Safety at VIKING Scales New Heights

VIKING’s arctic suit triumphs over extreme temperatures_PS5002

  A record-breaking offshore evacuation system is one of several highlights to be presented at the stand of leading marine and fire safety equipment and service provider VIKING Life-Saving Equipment (VIKING) at OTC 2015 in Houston, Texas.   Chuting for the top


Cheaper Fuel to Boost Container Shipping

Photo: Tanner Matheny

Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. Container shipping companies deal with the volatility in fuel prices by adding a separate bunker adjustment factor or fuel surcharge to their


GOST System Tracks Stolen Boat in Abacos

Global Ocean Security Technologies - offers a full line of state-of-the-art wireless security, monitoring, satellite tracking, and surveillance, acoustic deterrent and cloaking systems for any size vessel.

  GOST (Global Ocean Security Technologies), celebrating its 10th year as a world leader in marine security, tracking, monitoring and video surveillance systems, announced today the successful recovery of a stolen vessel in the Bahamas.


Incat Crowther Designs Commercial Security Vessel

Image courtesy of Incat Crowther

Incat Crowther has received a contract to design an offshore commercial oilfield security vessel for Veecraft Marine and its client, UTM Dredging Ltd, the designer announced today.   Continuing its relationship with Veecraft Marine, a South African shipyard specializing in aluminum vessels


Caterpillar Acquires ESRG Technologies Group

Photo courtesy of Caterpillar Marine

Caterpillar Marine has announced  it has completed the acquisition of ESRG Technologies Group, LLC, a vessel monitoring and data analytics leader in the marine industry. The acquisition includes ESRG’s comprehensive software suite for the remote monitoring and diagnostics of more than


Damen Installs BWT System to Cable Innovator

Photo courtesy of Damen Shiprepair

Global Marine Systems Limited’s vessel Cable Innovator has recently left Damen Shiprepair Dunkerque (part of Damen Shiprepair & Conversion) after extensive work including the installation of a ballast water treatment system and a five-year survey


SEACOR Marine Sweeps NOIA SIS Awards

Safety-in-Seas-awards-2015

  The National Ocean Industries Association (NOIA) today presented SEACOR Marine with the 2015 NOIA Safety in Seas (SIS) Culture of Safety Award and Safety Practice Award. This is the first time the same company has won awards in the same year


Caterpillar Acquires ESRG Technologies

Photo: Caterpillar

Caterpillar Marine has completed the acquisition of ESRG Technologies Group, LLC, a vessel monitoring and data analytics company in the marine industry.   The acquisition includes ESRG’s software suite for the remote monitoring and diagnostics of more than 65 on-board systems as well


Suezmax Tankers Bullish

 Suezmax: By Palmali Group of Companies

Global fixture activity for suezmax crude tankers rose in the first quarter by 5% year on year, with most of the activity coming out of West Africa.   Suezmax fixtures out of the Caribbean rose by 48%, most of which headed to the US Gulf and East coast Panama.  


ICS Chairman Warns of Regional Regulation Chaos

Masamichi Morooka (Photo courtesy of ICS)

Addressing members of the Singapore Shipping Association, the Chairman of the International Chamber of Shipping, Masamichi Morooka, warned about the dangers of regional maritime regulation being adopted by governments at variance to the global maritime Conventions adopted by IMO.


Gethings Joins Seaspan Marine as Business Development VP

Jenny Gethings (Photo: Seaspan Marine)

Jenny Gethings has been named vice president of business development at Seaspan Marine, the company announced.   Gethings will lead Seaspan’s business development team as it continues to pursue new business, identify new markets and develop current and future opportunities for its


Marshall Islands Calls for New Emissions Target

Tony de Brum

In a submission to the International Maritime Organization, the Republic of the Marshall Islands, currently the world’s third largest shipping registry, has called for the setting of a new global target for reducing greenhouse gas emissions from international shipping


ClassNK Opens R&D Center in Singapore

Left to right: RM Kurashiki (ClassNK), T Kinoshita (ClassNK), PM Ravindran (ClassNK) and Dr Thepsithar (NTU). (Photo courtesy of ClassNK)

Classification society ClassNK promoted the activities of its new Global Research and Innovation Center (GRIC) at a press conference held today in Singapore.   Joined by representatives from Nanyang Technological University, ClassNK Executive Vice President Tetsuya Kinoshita explained the


Vane Brothers Welcomes Latest Tug Newbuild

Kings Point (Photo courtesy of Vane Brothers)

The Vane Brothers Company, a marine transportation provider headquartered in Baltimore, has taken delivery of Kings Point, the latest in a wave of Maryland-built tugboats.   Constructed under the supervision of Vane Senior Port Captain Jim Demske


Marshall Islands Urges Cap on Shipping Emissions

Image: Republic of the Marshall Islands (RMI) Maritime and Corporate Registries

 The Republic of the Marshall Islands (Marshall Islands) Monday issued an emailed press release calling for the International Maritime Organization (IMO) to set a new global target to reduce greenhouse gas emissions from the international shipping industry.  






 
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