Golden Ocean Group Limited has agreed to sell the vessel M/V Shinyo Brilliance. The vessel is a Panamax bulker and is one of the long-term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72m net. The strike price for the option is about $20m net and the transaction will thereby free up approximately $52m in cash liquidity.
Golden Ocean Group Limited agrees with Zhoushan Jinhaiwan Shipyard Co., on amendment of three shipbuilding contracts The agreement is related to the two Kamsarmax vessels Golden Excellence and Golden Explorer, and the Capesize vessel Golden Nantong. Due to delay in the construction progress the Company has agreed to accept late delivery of the vessels. The contract price for the three vessels in aggregate is now agreed to be USD 86.65 million.
CMB confirms that its subsidiary Bocimar International has acquired three capesize newbuilding vessels for a total purchase price of $188 million. The first vessel, SWS 1028 (Shanghai Waigaoqiao Shipyard) - for which Bocimar concluded a three-year time charter contract in April 2005 - is obtained from Teh Hu (Hong Kong). It concerns a 175,000 dwt newbuilding that will be delivered in the third quarter of 2006. The other two vessels, SWS 1048 and SWS 1049, have been bought from
Norway's Frontline, the world's biggest tanker company, reported record net profits for 2000 compared to a 1999 loss and forecast higher earnings for 2001. Net 2000 profits leapt to $313.9 million from a $86.9 million loss in 1999, helped by a strong tanker market and a takeover of U.S. rival Golden Ocean Group. Net operating revenues surged to $599.9 million from $253.2 million in 1999. "For the full year (2001) result the board are cautiously optimistic about the opportunity to improve the
Norwegian shipping company Frontline has signed an agreement to take over U.S.-based Golden Ocean Group. Frontline has reportedly signed a term sheet with Golden Ocean, under which the parties agreed to propose a joint plan for a financial restructuring of Golden Ocean. Golden Ocean holds interests in 14 VLCCs, three VLCC newbuilding contracts and 10 bulk carriers. The company filed for a Chapter 11 restructuring in the Bankruptcy Court for the District of Delaware on Jan. 14.
Atlantic Marine Associates Inc. (AMA) a member of the Eagle Ocean Group appoints John S. Poulson to head the new service. Trading as AMA Consulting Services, the new entity is led by John S. Poulson, latterly president of GL Noble Denton, New York, and a leading expert in the marine engineering, survey, loss prevention and consultancy fields. AMA Consulting Services’ principal activity is carrying out independent surveys, investigations
Mud dredged from the bottom of harbors to keep ship commerce flowing is loaded with contaminants like dioxin and mercury, creating a sleeping giant of an environmental mess in America's oceans and waterways, water protection groups said. Scientists and environmentalists demanded that better government protections be employed to protect human health, fish and ecosystems from toxic harbor mud, and called for an immediate ban on the dumping of contaminated sediments.
Golden Ocean Group Limited advised that the company has entered into an agreement with Knightsbridge Tankers Limited to sell the capesize vessel Golden Zhejiang at a sales price of $65.5m. The vessel will be sold together with the existing four year charter agreement. The completion of the transaction is subject to successful financing and equity offering in Knightsbridge Tankers Limited. The deal is expected to be concluded during Q4 2010
Spanish builder Astilleros Armón recently delivered one tug boat powered by two MAN 7L27/38 four-stroke engines and is close to delivering another powered by two similar 9L27/38 engines. The vessels are bound for separate companies of the Italian ‘Ocean Group’. The first project involved the construction of the ‘Neptun’, a Voith-Schneider Tractor Tug constructed at Astilleros Armón Navia in Asturias, Spain as construction C-701
On December 13, 2013 the 6,000 kW ASD tug Ocean Tundra was commissioned into service for its Owners, Ocean Group Inc. (Ocean) of Quebec City, Canada. This icebreaking escort tug becomes the most powerful tug in Canadian registry, and heralds a new generation of extremely capable tugs which will provide the highest degree of year-round escort towing capability to Canada’s east coast and the St. Lawrence River and Seaway system.
Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of deals signed during a visit by President Xi Jinping to the island nation. Keen to establish its presence in the Indian Ocean
The Port of Cleveland and Amsterdam-based Spliethoff Group announced today their mutual intent to add a second monthly vessel to the Cleveland-Europe Express (CEE), the only scheduled ocean service for containerized and breakbulk freight operating between Europe and a Great Lakes port.
New York Harbor Tug Boat Captains and Crews, Staten Island Ferry Workers, Circle Line and Other Tourist Boat Crews Vote on Joining New Union Uniting with the International Organization of Masters, Mates & Pilots will bring added clout
US Department of Defense inform that Phoenix International Holdings Inc., Largo, Maryland, is being awarded a $75,000,000 indefinite-delivery/indefinite-quantity, cost-plus-award fee contract for worldwide undersea deep ocean search and recovery operations and associated services to support
Heroin from Afghanistan is increasingly trafficked through the Indian Ocean and more international action is needed to prosecute smugglers on the high seas, the United Nations anti-crime and drug body said on Tuesday. In the last 18 months, more than 4
Amarcon, a part of the ABB group, and OceanWaveS GmbH, a fully owned subsidiary of Rutter Inc., inform they will demonstrate an OCTOPUS-Onboard advisory suite including Wave and Surface Current Monitoring System set-up during the SMM in Hamburg, from 9 – 12 September 2014
The CMA CGM Group announced the signature of three major agreements on the biggest worldwide maritime trades with China Shipping Container Lines (CSCL) and United Arab Shipping Company (UASC). Under the name of Ocean Three, the agreements; which include a combination of vessel sharings
ABB, a global leader in power and automation technology, has secured an order to deliver total power solutions to Ocean Rig’s two seventh generation new integrated design mobile offshore drilling units (MODU) that is being built by Samsung Heavy Industries (SHI) at Goeje shipyard in
The Maritime Alliance promotes the 6th Annual event Novemeber 12-13, 2014 at the McMillin Companies Event Center in San Diego, CA as a unique opportunity to understand trends, network with leaders from the public and private sector
Eastern Shipbuilding Group, Inc. announced the on-time delivery of the M/V Bravante VIII (Hull 158) on Tuesday September 9, 2014 to Boldini S.A., Bravante Group of Brazil. The Bravante VII (Hull 157), the third in the series, was delivered three months earlier and is currently on charter in Brazil
With just one month to go to the start of the first leg of the Volvo Ocean Race 2014-15, GAC Pindar is in the thick of ensuring the provision of a seamless logistics support package for the 12th edition of the race that has been nicknamed the 'Everest of Sailing'.
The pilot of one of two F/A-18 Hornets that crashed Sept. 12 while operating from USS Carl Vinson (CVN 70) is in fair condition and receiving medical treatment aboard the ship. Search efforts continue for the missing pilot. At the time of the incident
Last Tuesday’s announcement of the formation of the “Ocean Three” alliance – actually a combination of vessel sharing, slot exchange and slot charter agreements – confirmed one of the worst kept industry secrets
The US Department of Defense inform that five firms are to share in a broad range of ocean engineering services contracts with a combined maximum dollar value of US$99-million. Details as follows: The five firms are: Truston Technologies Inc., Lafayette, Louisiana
Maine Maritime Academy receives $450,000 grant From U.S. Department of Homeland Security for ice navigation and maritime first responder courses for the Arctic Maine Maritime Academy has been awarded $450,000 by the U. S. Department of Homeland Security (DHS) Science & Technology