Vessel Charters News

The Australian Maritime Safety Authority (AMSA) has banned the Liberian-flagged bulk carrier MSXT Emily from Australian waters for one year, after finding apparent serious issues of wage theft and seafarer mistreatment onboard.Following a tip-off from the International Transport Workers’ Federation (ITF), AMSA inspected the ship at the Port of Hay Point, in Queensland, and found evidence of several violations of the Maritime Labour Convention, 2006.The vessel had been chartered by K-Line to load a cargo of coal for discharge in Japan.Seafarers onboard the vessel had not been paid in accordance with their Seafarer Employment Agreements: four contained apparently-forged signatures from employees…

The Norwegian offshore vessel company Siem Offshore has entered into a new three-year contract for the OSCV Siem Stingray with Subsea 7.The contract will start in direct continuation of its current commitment.Subsea 7 plans to employ the vessel supporting its clients world-wide predominantly within the oil and gas sector undertaking projects within offshore construction and inspection, maintenance and repair (IMR).Separately, Subsea 7 this week announced vessel charters in the U.S. Gulf of Mexico with Otto Candies and Bordelon Marine. Read more here.

Subsea 7 has signed four long-term vessel charter agreements in the Gulf of Mexico with Otto Candies and Bordelon Marine to boost offshore construction, inspection, maintenance, and repair (IRM), ROV survey, and pipe/umbilical laying support activities. in the Gulf of Mexico. Grant Candies, Wyatt Candies, and Ross Candies are IRM, survey, and light construction vessels under charter with Otto Candies LLC. The Connor Bordelon is a multipurpose supply vessel under charter with Bordelon Marine LLC. The contracts have differing start dates and durations, with options for extensions.

Offshore vessel owner DOF said Tuesday it had won vessel charter extensions with Norway's Equinor and Shell in the UK.Equinor has exercised options to extend the firm periods of the contracts for 2008-built Skandi Mongstad PSV for three years, and 2010-built Skandi Vega AHTS vessel for two years. Both vessels have worked continuously with Equinor since delivery from the yard in 2008 and 2010, respectively.Also, Shell UK Ltd has exercised an option to extend the contract for the platform supply vessel Skandi Kvitsøy for one year firm, from end March 2022.Furthermore, DOF's subsidiary DOF Rederi has sold Skandi Rona, a platform supply vessel built in 2002, with delivery in April. DOF did not share the financial details.

Solstad Offshore, a Norway-based offshore vessel operator, on Friday said it had won contracts for the vessels Normand Ranger and Far Seeker in Australia.The Normand Seeker, a large AHTS, has been awarded a contract in Australia with the start slated for the second quarter of 2021.The anchor handler vessel will mobilize from Norway and will then provide support to a major drilling campaign offshore North-Western Australia, securing about one year of utilization for the vessel…

Just hours after announcing three contracts for its platform suppliers in the North Sea and Suriname, Norwegian offshore vessel operator Solstad Offshore released a separate statement on Thursday, announcing charters for three construction vessels.These charters are with an unnamed "large international contractor" and are for the construction support vessels Normand Navigator, Normand Frontier, and Normand Australis.The three vessels will be used for projects on the east coast of India.

Shuttle tanker operator KNOT has secured a contract extension for its Torill Knutsen tanker with Italy's Eni.KNOT said Tuesday that Eni had exercised two of its one-year options to extend the time charter of the Torill Knutsen until November 2022. Data by VesselsValue shows Eni has been using the shuttle tanker to offload crude from the Barents Sea area offshore Norway, where the company operates the Goliat FPSO.In connection with the early exercise by Eni of its options, KNOT has granted Eni a further option to extend the time charter.

Offshore energy support vessel (OESV) operator Seacat Services signed a  deal to support the construction phase of Triton Knoll offshore wind farm.The contract, which includes options for further vessel charters, will initially see two Seacat Services OESVs – one 26-meter and one 24-meter catamaran – operating out of Triton Knoll’s new Grimsby construction base, providing specialist crew transfer and logistical support at the 90-turbine, 857MW project off the UK’s East Coast.With offshore construction set to commence in Q1 2020…

Vessel owners rarely carry cargo for their own account. More commonly by far, a vessel owner will charter its vessel to another party to carry their (or their sub-charterer’s) cargo. The contracts can vary widely – from voyage charters or contracts of affreightment to time charters to negotiable bills of lading (not to mention the more complex arrangements that one often sees for container cargos). But in most instances, vessel owners are in the business of transporting cargo on behalf of others and, all going well, of being paid to do so.

The Coast Guard is reminding the public that unlicensed vessel charters are both illegal and unsafe to consumers.Hiring an unlicensed charter is dangerous because the charter may not have the proper emergency safety gear, navigation and communication gear, and may not have undergone the proper license exams and inspections which are put in place to ensure passenger and crew safety.Legal passenger vessel operations fall into one of these three categories:Uninspected Passenger Vessel…

As a further step in fleet positioning ahead of the gradually stronger market that is expected, Concordia Maritime has decided to participate in three suezmax tankers chartered in by Stena Bulk. The 158,000 dwt vessels were built in Korea in the period 2012-2014. The contracts are for 12 months, with an option to extend until the end of 2019. After delivery in May and July, the vessels will be employed on the spot market through the successful Stena Sonangol Suezmax Pool. Concordia Maritime's share in the vessel charters is 50%. The contracts also include a profit-sharing clause with the contractual partner. "We continue to act based on our belief in a progressively stronger market from autumn 2018 onwards.

To prepare for a gradually strenghthening tanker market, Concordia Maritime decided to participate in three suezmax tankers chartered in by Stena Bulk. The 158,000 dwt vessels were built in Korea between 2012-2014. The contracts are for 12 months, with an option to extend until the end of 2019. After delivery in May and July, the vessels will be employed on the spot market through the Stena Sonangol Suezmax Pool. Concordia Maritime’s share in the vessel charters is 50%. The contracts also include a profit-sharing clause with the contractual partner. “We continue to act based on our belief in a progressively stronger market from autumn 2018 onwards.

Harvey Gulf International Marine issues statement on status of Chapter 11 Reorganization. Today, the United States Bankruptcy Court, Southern District of Texas - Houston Division, confirmed the final Plan of Reorganization submitted by Harvey Gulf International Marine. The approval comes just 77 days following Harvey Gulf’s prepackaged filing, considerably faster than all previous Chapter 11 proceedings for vessel operators over the last five years. Following the hearing, Harvey Gulf CEO, Shane Guidry, commented, “We really appreciate the diligent and collaborative efforts of all involved in this process – both within the company and from the legal and financial support teams.” Mr.

First Ship Lease Trust,  Singapore-based business trust which owns a fleet of vessels across major shipping sub-sectors, narrowed its fourth-quarter loss to US$33.87 million, down 19.9 per cent, despite lower revenue posted for the period. FSL Trust Management (FSLTM),, as trusteemanager of First Ship Lease Trust, said that the  revenue for the three months ended Dec 31 was S$19.90 million, 14.2 per cent lower compared to a year ago as contributions from vessel charters fell. The decrease in revenues is attributable to ongoing market volatility and the continued softening of rates across all shipping sectors which has weighed on the Trust’s earnings from its product tankers, crude oil tankers, chemical tankers, and feeder container vessels.

U.S. liquefied natural gas (LNG) producer Cheniere Energy has expanded its shipping fleet with a flurry of spot vessel charters to keep up with Asian winter demand growth as spot prices hit three-year highs, market sources said. Cheniere's Sabine Pass terminal in Louisiana pumped out 22 cargoes last month and more are expected as it ramps up its fourth production unit, or train, with more than half of all November volumes sold to China, Japan or South Korea, according to ship-tracking data.

Harvey Gulf International Marine has announced that it has secured a charter extension for the MPSV Harvey Deep-Sea through December 31, 2018. Combined with its announcement of four long-term vessel charters last week, Harvey Gulf continues to buck the “spot-work” only trend that has been pervasive throughout the ongoing industry downturn for vessel operators. The Deep-Sea is a Multi-Purpose Support Vessel equipped with a 165-ton NOV heave-compensated, knuckle boom crane, 15x18ft moon pool, S92 Helideck, and has capacity for two ROVs and 70 persons on board.

Since its first day of operations in May 17, 1989, the Nigeria LNG Limited (NLNG)  has recorded no fewer than 45 vessels chartered-in and five chartered out, said a report in ThisDay. The chartered-in including liquefied natural gas (LNG), liquefied petroleum gas (LPG) and condensate carriers for shipment of its products to buyers across the globe. The chartered-out of its own vessels is for other operators in the market. The company’s assets are now worth over $13bn, a press release from NLNG quoted Tony Attah, Managing Director as saying. He said the NLNG had been able to generate $85bn in revenue. The company has positioned itself…

The Middle-East-focused marine logistics services provider Atlantic Navigation Holdings (Singapore) Limited has won long term charters for 10 OSVs with a combined value of around $236m from a Middle Eastern national oil company. The 10 vessels will go on a firm five-year charter with a two-year extension option to support a Middle Eastern national oil company's operations in the Arabian Gulf. The charters are for five maintenance/work/utility vessels and five anchor-handling tug, supply and safety standby vessels. Seven of these vessels will be newbuilds. The vessels, on a firm five-year charter with a two-year extension option, will support the NOC’s operations in the Arabian Gulf.

China Shipping Group's CSCL has agreed a deal to bareboat charter up to 11 units of 21,000 teu containerships, of which five will be options exercisable after six months of charter for the first six ships, says local media reports. It has confirmed the 21,000 teu containerships to be built at Shanghai Waigaoqiao Shipbuilding (SWS). The ships will be chartered from China Shipping Nauticgreen Holdings, subsidiary of China Shipping (Group) Company. “The charter hire is determined by reference to the market freight rates for liners in the Far East and Europe trade lanes during the past five years (2010 to 2014),” CSCL said, adding that it expects to generate profits from the vessel charters.

Danaos Corporation announced today the acquisition of three vessels through a newly-formed joint venture, capitalizing on depressed asset prices in the resale market. The vessels were acquired by Gemini Shipholdings Corporation, a newly-formed entity ("Gemini") beneficially owned by Danaos and its largest stockholder. Danaos' initial 49% ownership interest in Gemini was acquired through an investment of $7.35 million. * The 6,422 TEU NYK Lodestar, built in 2001 at Samsung Heavy Industries, which has already commenced a 2 year time charter with NYK. * The 5,610 TEU Suez Canal, built in 2002 at Hyundai Heavy Industries, which is on a 7 year bareboat charter to Gemini with a purchase obligation at the end of the charter.

Vallianz Holdings Limited a fast growing provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has signed new contracts valued up to US$458 million that has lengthened the charter duration for 19 of its offshore support vessels currently deployed to an existing customer in the Middle East, which is one of the world’s largest national oil companies (the “NOC”). The Group presently has 15 Anchor Handling Tug Supply (AHTS) vessels and 4 Platform Supply Vessels (PSV) supporting the offshore oil and gas operations of the NOC. With the new time charter contracts, which modify certain terms in Vallianz’s previous contracts with the NOC…

Dry bulk shipowner Pacific Basin Shipping announced a total of US$132 million (HK$1 billion) impairment charges on chartered-in vessel contracts and bunker fuel swaps. The Hong Kong-listed company informed the stock exchange that  it took US$101 million provisions mainly for a pool of long-term vessel charters it entered in 2010. The reason cited is the weak shipping market performance and oil prices which sank to a 5-1/2 year low. “The board also wishes to draw the attention of the company’s shareholders and potential investors to the announcements relating to the impairment of the group’s towage assets and the loss on the disposal of the group’s harbour towage business,” says the statement.

Angola's new liquefied natural gas (LNG) export project aims to charter out its entire tanker fleet for at least a couple of months after a major rupture on a flare line crippled output at the $10 billion plant last month. The project partners led by U.S. oil major Chevron have approached shipbrokers to charter out all seven LNG carriers dedicated to Angola's liquefaction facility, three sources said. One of the tankers has already been chartered to a shipper and is due to load a cargo in Nigeria soon. "The other ships are currently being discussed ... some of the charters being discussed are at least until July or August," one of the sources said. Another source said Angola LNG had expressed interest in locking in any charters that become available.