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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


HCI Group Takes Over 13 Feeder Containerships

Courtesy HCI Capital

The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU


New Vessel Registration System for the UK

Oceans HQ Director André Tanguy

Oceans HQ, a  provider of specialized software to the world’s Maritime Administrations, has signed an agreement to deliver a new digital Vessel Registration system to the U.K. Maritime and Coastguard Agency.   The new digital platform forms a key component of the MCA’s


Dubai Partners with WOC on Ocean Sustainable Dwevelopment

Photo: Dubai Council for Marine & Maritime Industries

 The Dubai Council on Marine and Maritime Industries (DCMMI) and the World Ocean Council (WOC) have agreed to collaborate on ocean sustainable development and corporate ocean responsibility.    The WOC is increasingly working with and through “maritime clusters” to


GOST, Phantom Rescue Fight to end Child trafficking

Slave-traders Image GOST

GOST (Global Ocean Security Technologies), a world leader in marinesecurity, tracking, monitoring and video surveillance systems, announced today that it has partnered with Phantom Rescue in its fight against child trafficking. Phantom Rescue is a non-profit organization that provides awareness


Australia Orders Antarctic Supply Research Vessel

Image: Damen

Australian icebreaker operated by DMS Maritime to be constructed by Damen   The Australian Government has signed a deal with DMS Maritime, a wholly owned subsidiary of Serco, for the delivery, operation and maintenance of an Antarctic Supply Research Vessel (ASRV) with icebreaking


FMC’s Doyle Addresses Intermodal Hot Topics

William P. Doyle (Photo: FMC)

Speaking at the Intermodal Association of North America on May 5 in Chicago, U.S. Federal Maritime Commissioner William P. Doyle discussed several of the shipping industry’s hottest topics, including ocean carrier consolidations and alliances, container weight VGM under SOLAS, and chassis.


New Global Shipping Alliance a Reality Soon

Image: Hapag-Lloyd

 Major container shipping lines are preparing a lineup a new tie-up -  a new global alliance - to respond to rapid container shipping consolidation, reports WSJ.   William Doyle, member of U.S. shipping regulator Federal Maritime Commission (FMC) said that representatives of the


Research Vessel Polarstern Returns to Bremerhaven

Research ice breaker Polarstern Photo AWI

Antarctic season ends in the homeport after half a year Bremerhaven / Germany, 11 May 2016. on Wednesday, 11 May 2016, the research vessel Polarstern is expected back in its home port of Bremerhaven after a good six months of Antarctic expeditions.


Hapag-Lloyd, Competitors Form New Pact

File Image: a Hapag Lloyd boxship alongside during cargo operations (Hapag-Lloyd)

To fend against M2, newly forming Ocean Alliance is latest push for economies of scale groups. German container shipping firm Hapag-Lloyd has formed a new alliance with five Asian competitors, it said on Friday, the latest step in an industry reorganisation that is divvying up the global


Shipping Alliances Demand Aggressive Oversight -FMC Chairman

Photo: China COSCO Shipping

The restructuring of the ocean carrier alliance system, triggered by merger and acquisition activities by shipping companies, is a logical business development, but if not carefully monitored and regulated, could also represent a move toward reduced services for shippers, said Mario Cordero


Search on for Cruise Ship Passenger

HC-144 Ocean Sentry aircraft from the Coast Guard’s medium range surveillance fleet Photo USCG

Coast Guard aircrews continued searching through the day and into the evening Saturday, after beginning a search Friday for a woman who fell from a cruise ship - about 200 miles southeast of Galveston-, Texas. See map at : www.google.com/maps/@27.6743155,-96.8294863,6z.


AAL Boosts Chinese Operations

Photo: AAL Shipping

 Leading global ocean transport operator, serving the breakbulk, heavy lift and project cargo industry AAL is set to strengthen its growing presence in the China region, with the appointment of specialist project and steel cargo freight forwarder Central Oceans


Maritime Leaders Convene in the Caribbean

Caribbean maritime leaders meet to discuss industry trends, challenges and opportunities   Representatives from all aspects of the maritime shipping industry met in Cocoa Beach, Fla., May 16-18 for the Caribbean Shipping Associations’ (CSA) Shipping Executives Conference. 


Hamburg Süd to Adopt INTTRA eVGM Service

Photo: Hamburg Süd

Hamburg Süd, one of the 10 largest shipping lines worldwide, and INTTRA, the world's ocean shipping electronic marketplace, have expanded their partnership to address the July 1 implementation of the International Maritime Organization's Safety of Life at Sea (SOLAS) Verified Gross Mass (VGM)


DryShips Posts Profit for 1Q

Photo: DryShips Inc

 Greece-based DryShips Inc. (DRYS) reported first-quarter of 2016 net income of $55.4 million, after reporting a loss in the same period a year earlier.    The company said it had profit of $2.05 per share. Losses, adjusted for non-recurring gains, came to 78 cents per share.






 
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