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OCEAN GROUP

Golden Ocean Group Announces Sale

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 Agrees Late Deliveries from Chinese Shipyard

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.


Bocimar Expands Fleet, Buys 3 Ships

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


Frontline Predicts Strong 2001

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


Frontline Acquires Golden Ocean

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 Sets Up Marine Survey & Consultancy Arm

John Poulson: Photo credit AMA

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


GOGL, Knightsbridge Tankers Sells Vessel

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


L27/38 Power for Spanish Tugs

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


SFL Acquires Eight Bulk Carriers from Golden Ocean

Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today.   The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia, Golden Zheijang, Golden Future and KSL China and were built in Korea and China between 2009 and 2013. The total acquisition price will be $272 million, or $34 million on average per vessel


SFL Acquires Eight Capesize Bulkers

Photo of VANGUARD Courtesy Ship Finance International Limited

  Ship Finance International Limited today announced the agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited ("Golden Ocean"). The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia, Golden Zheijang, Golden Future and KSL China and were built in Korea and China between 2009 and 2013. The total acquisition price will be $272 million, or $34 million on average per vessel


Robotics Ocean Monitoring Alliance Formed in Africa

Slocum glider off Cape Town (Photo: BOM)

Blue Ocean Monitoring enters into strategic alliance with Sea Technology Services   Blue Ocean Monitoring (BOM) announced that it has entered a strategic business alliance agreement with Sea Technology Services (Pty) Ltd (STS). Under the alliance


Construction Starts on Crowley’s 2nd LNG ConRo Ship

Image: Crowley

Construction begins on Crowley’s second Commitment Class, LNG-powered ConRo ship for use in the Puerto Rico trade   Shipbuilder VT Halter Marine, Inc. has officially started the construction of Taíno, the second of two liquefied natural gas (LNG)-powered


Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades. Golden Ocean, controlled by shipping tycoon John Fredriksen


New Ship Continues Atlantic Offshore's Fleet Modernization

Ocean Falcon, the latest vessel to be launched as part of Atlantic Offshore Rescue’s fleet modernization program (Photo: Atlantic Offshore)

Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million.    Ocean Falcon, a new Class A Multi Role and Emergency Response and Rescue (MRV/ERRV) vessel


CMA CGM Christens Its Largest Ship

The CMA CGM KERGUELEN’s godmother, Mrs Catherine Hayot, closed the ceremony by launching the bottle of champagne that broke on the vessel’s hull and by stating the traditional sentence

The CMA CGM Group announced that the CMA CGM Kerguelen, the group’s largest vessel, was christened in Le Havre, France. The christening took place in presence of Jacques R. Saadé, Chairman and Chief Executive Officer of CMA CGM Group, the vessel’s godmother Catherine Hayot


MOL Transports Wheelchairs for Paraguayan Children

Paraguayan Ambassador to Japan Naoyuki Toyotoshi (left) presents MOL President Koichi Muto with a letter of thanks for the company’s transport of used wheelchairs for disabled children in Paraguay.

Mitsui O.S.K. Lines, Ltd. received a letter of appreciation from the Paraguayan Embassy, thanking the company for providing ocean transport of used wheelchairs from Japan to Paraguay, where they were delivered to needy children. This is the second time MOL has teamed up with the Volunteers Group


MOL Tabletop Drill Prepares for Major Offshore Incident

Scene of Emergency Control Headquarters during the drill

  Mitsui O.S.K.Lines, Ltd. today announced that, in cooperation with the Japan’s 7th Regional Coast Guard Headquarters, the company conducted a tabletop drill based on a scenario in which the cruise ship Nippon Maru, operated by its group company, Mitsui O.S.K. Passenger Line, Ltd


SINOPACIFIC Christens Newbuild Bulker

Photo: SINOPACIFIC

SINOPACIFIC Shipbuilding Group held a christening ceremony today at its Dayang Shipyard for a newly built Ultramax CROWN63R.   As the Godmother, Madam Grace Yang, the wife of former Chinese Ambassador to Greece christened this new vessel as SINICA GRAECA


Seattle Flotilla Protests Shell's Arctic Drilling Plans

Environment Friendly Port of Seattle

  Hundreds of activists in kayaks and small boats fanned out on a Seattle bay on Saturday to protest plans by Royal Dutch Shell to resume oil exploration in the Arctic and keep two of its drilling rigs stored in the city's port. Environmental groups have vowed to disrupt the Anglo-Dutch


CMA CGM Reports Increased Net Profit in Q1

17,722 TEU vessel CMA CGM Kerguelen was delivered to the group on March 31 (Photo: CMA CGM)

Container shipping company CMA CGM’s board of directors met under the chairmanship of Jacques R. Saadé, chairman and chief executive officer, to review the financial statements for the first quarter of 2015.   For the first quarter of 2015


Protesters Gather in Seattle to Block Access to Shell Oil Rig

About 200 protesters gathered at the Port of Seattle on Monday to block access to a Royal Dutch Shell drilling rig headed for the Arctic this summer to resume exploration for oil and gas reserves.   Holding signs reading "Shell No" and "Seattle Loves the Arctic


RV Polarstern Sets Course for Spitsbergen

RV Polarstern

  On Tuesday, 19 May 2015 the research icebreaker Polarstern will leave its home port in Bremerhaven, setting a course for the Arctic. Led by Dr Ilka Peeken from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) a team of 53 researchers from 11 countries will


Oceans HQ, Gibraltar Registry, Partner on STCW Requirements

André Tanguy (Photo: Oceans HQ)

Maritime software solutions provider Oceans HQ Ltd has announced a partnership with the Gibraltar Ship Registry (part of the Gibraltar Maritime Administration), ahead of new STCW requirements for online access to seafarer certification data which come into force in 2017.


Global Warming Slowdown Tracked to Indian Ocean

Image courtesy: NOAA.

 Global surface warming has slowed since the start of the twenty-first century, while Pacific heat uptake was enhanced. Analyses of ocean heat content suggest that the warm water was transferred to the Indian Ocean, through the Indonesian straits, reports "Natue".  


Fincantieri Invests In Camper & Nicholsons

Giuseppe Bono

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the world leading authority in all luxury yachting activities. The agreement includes the possibility for Fincantieri to increase






 
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