Marine link
 

Capital Product

Greek Owners CPP Charter Out Three Tankships

MT Avax: Image courtesy of CPP

Capital Product Partners L.P. (CPP) an international diversified shipping company, says it has secured time charter employment for the M/T ‘Avax’, M/T ‘Agisilaos’ and M/T ‘Alkiviadis’. M/T ‘Alkiviadis’ (36,760 dwt, IMO II/III Chemical/ Product Tanker built 2006 Hyundai Mipo Dockyard, South Korea) was employed with CSSA S.A., a fully owned subsidiary of Total S.A., for one year (+/‐ 30 days) at a gross daily rate of $14,125. CSSA S.A. has the option to extend the charter for an additional year (+/‐ 30 days) at $15,125 gross per day. Previously the vessel was employed under a time charter to Capital Maritime & Trading Corp. (‘CMTC’) at a gross rate of $14,250 per day. The new charter commenced in September 2014. This marks the opening of a new time charter relationship of CPLP with CSSA S.A. (Total S.A.). M/T ’Avax’ (47,834 dwt, IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) was chartered to our sponsor, CMTC, for one year (+/‐ 30 days) at a gross daily rate of $14,750. CMTC has the option to extend the charter for an additional 12 months (+/‐ 30 days) at a gross day rate of $15,250. The charter is expected to commence in September 2014. Previously the vessel was employed under a time charter to BP Shipping Ltd. at a gross rate of $14,700 per day.


Capital Product Partners L.P. Announces One Year Time Charter

Capital Product Partners L.P. (CPLP) has  announced the chartering of the M/T Avax to BP Shipping. The M/T Avax (47,834 dwt, IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) was chartered in October 2013 to BP Shipping for a minimum charter term of one year (+/- 30 days). BP Shipping has the option to extend the charter for an additional 12 months at a gross day rate of $15,600 per day.


CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES THE SUCCESSFUL CHARTERING OF THE M/T AXIOS TO PETROBRAS FOR 12 MONTHS

ATHENS, Greece, March 8, 2011 -- Capital Product Partners L.P. (the "Partnership") (Nasdaq: CPLP), an international owner of modern double-hull tankers, today announced the successful chartering of the M/T Axios to Petroleo Brasileiro S.A. (Petrobras).  The M/T Axios (2007 Build, Hyundai Mipo 47,823 DWT, Ice Class 1A) was fixed at a gross daily charter rate of $13,500 to Petrobras for 12 months (+/- 30 days)


Crude Carriers: Approval of Merger with CPP

Crude Carriers Corp. (NYSE: CRU) announced that, at a special meeting of Crude shareholders held today in Piraeus, Greece, its shareholders have approved the proposal to adopt the merger agreement dated May 5, 2011 providing for the acquisition of Crude by Capital Product Partners L.P. (CPLP) in a unit-for-share transaction with Crude shareholders receiving 1.56 CPLP common units for each Crude share. The consummation of the merger was subject to approval by: (i) the holders of a majority of


CPLP, OSG Reach Conditional Agreement

Capital Product Partners L.P. (the "Partnership" or CPLP) (NASDAQ: CPLP) has reached a conditional agreement with Overseas Shipholding Group Inc. (OSG) and certain of OSG's subsidiaries regarding the long term bareboat charters of three of its product tanker vessels. On November 14, 2012, OSG made a voluntary filing for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware


Capital Product Partners Tankers get Contracts

Image: Capital Product Partners

 Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.   The NASDAQ-listed company has announced the successful acquisition of the MV 'Akadimos,' as well as new time charter employment for the MT 'Active' and MT 'Anemos I' and a charter extension for the MT 'Atrotos


Bulkship Owners, Baltic Trading, Make Public Stock Offering

Baltic Trading say they intend to use the net proceeds from the offering for future vessel acquisitions or as working capital and for general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering, and DVB Capital Markets LLC is acting as co-manager for the offering. Baltic Trading has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the common stock offering)


Gulf Navigation Cuts Capital, Focus on Turnaround

Gulf Navigation.jpg

United Arab Emirates shipper Gulf Navigation said on Wednesday it had cut its capital by two-thirds and written off accumulated losses worth 1.1 billion dirhams ($300 million), key parts of a turnaround plan designed to solve its debt problems. The company's capital has been reduced to 551 million dirhams from 1.66 billion dirhams, it said in a statement on the Dubai bourse, with the reverse stock split effectively creating one share for every three existing shares.


AVEVA Acquires 8over8 Limited

Richard Longdon, CEO, AVEVA

AVEVA has acquired 8over8 Limited, providing the software platform for AVEVA to address the current global need for increased project control, capital discipline, minimizing project overruns and delivering improved efficiency in operations, the company said.   8over8’s flagship product is ProCon, a risk management software platform that connects Owner Operators (OOs) and Engineering Procurement Construction companies (EPCs) throughout the project life cycle


Partnership Targets Waste Conversion Solutions

Terragon Environmental Technologies Inc. has entered into a strategic partnership with Green Marine Capital (GMC) in an effort to enable off grid sustainability by developing and commercializing simple compact and economical products that allow any habitat to convert its waste into useful resources, such as energy and clean water, Terragon said. Terragon’s first commercially available product, the patented Micro Auto Gasification System (MAGS)


LR, Penn Oak Energy Partner for LNG Retrofit Service

Lloyd’s Register North America, Inc. (LR) has teamed with Penn Oak Energy Corp to help companies raise capital and mitigate the technical risks associated with retrofitting ships fuelled by liquid natural gas (LNG), by providing a one-stop-shop solution to the industry.


EU Approves I-Tech Selektope

Logo

  The antifouling biocide Selektope has been approved by the EU Standing Committee on Biocidal Products for EU-wide use from the 1st of January 2016   On the 8th of July, the European Union Standing Committee on Biocidal Products gave notice that Selektope is approved under the EU


DHT Holdings Changes Dividend Policy

DHT Ann, a 309,327dwt VLCC owned by DHT (Photo: DHT Holdings)

Crude oil shipper DHT Holdings, Inc. announced it has changed its policy regarding dividend and capital allocation. As a result of the current tanker market, DHT’s new plan will see the company return at least 60 percent of its ordinary net income (adjusted for extraordinary items) to


Statoil 2Q 2015 Earnings Slip

CEO of Statoil ASA, Eldar Sætre

  Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments.


Uni Asia Forms New Subsidiary and Buy a New Vessel

Pic: Uni-Asia Holdings Limited

 Uni-Asia Holdings Limited has acquired a new wholly owned Panama-incorporated company known as Fortuna Containership S.A. as a ship owning subsidiary for the purpose of acquiring a 3,500 TEU second hand containership.   Fortuna Containership was incorporated in Panama on 20 May 2015


De Nora Acquires Severn Trent's Water Purification Business

...

  De Nora announces the completion of the acquisition of the Water Purification group of Severn Trent Services. The new business line, called De Nora Water Technologies, will be focused on delivering sustainable and innovative water and wastewater technologies for municipal


Maersk Sells Its Stake in ESVAGT

ESVAGT. Photo: Maersk Group

 Danish conglomerate A.P Moller-Maersk said Tuesday two international infrastructure investors have agreed to buy 100% of the Danish company ESVAGT from Maersk Group and ESE-Holding A/S.   The sale amounts to a value of 4.1 billion Danish kroner equaling to approximately USD $610


Greece Port Operations Update

Photo: Piraeus Port

An update on Greece’s port operations and local conditions was issued today by maritime services provider Inchcape Shipping Services (ISS).   According to ISS, no operational delays have been reported in Piraeus container terminal operations since capital controls were enforced.


American Boatbuilders Association Select IMTRA

  IMTRA, the leading manufacturer and importer of quality marine products, announced today its selection by the American Boatbuilders Association (ABA) as a Supplier of Choice for lighting products. With a focus on service and product development


Rohde Nielsen Bags Port Tauranga Dredging Contract

Aerial 1 Port of Tauranga. Photo by The Port of Tauranga Limited

 Danish dredging company Rohde Nielsen has won the tender to complete dredging at the Port of Tauranga, New Zealand's largest port company.   The capital dredging program to deepen the Port of Tauranga to take the next generation of containerships calling on the New Zealand coast will


Gasoil Availability Expands on Gulf Coast

MGO and ECA products are available in volume throughout the Gulf Coast.   Atlantic Gulf Bunkering LLC, a division of Bunkers International LLC, announced today that the company has expanded availability of both MGO and ECA product that meets the 2015 ECA specification of 0


Ocean Yield to Acquire Four LR2 Product Tankers

Pic: Navig8 Product Tankers

 Norway’s Ocean Yield ASA has agreed to acquire four 115,000 dwt LR2 product tankers which are currently on order from Navig8 Product Tankers at Sungdong Shipbuilding in Korea.   Ocean Yield has agreed to acquire the product tankers for a total consideration of USD 198


Scorpio Buys Two Product Tankers

Photo: Scorpio Tankers Inc

 Scorpio Tankers has purchased an MR product tanker, currently under construction at Hyundai Mipo Dockyard, for around $37mln and a LR2 product tanker, currently under construction at Daehan Shipbuilding, for around $58.5mln.   MR product tanker is scheduled for delivery in September


Brazil: Discount Rate Unveiled for Port Auctions

The Brazilian government on Tuesday unveiled the discount rate that will be used to calculate internal rate of returns on as many as 29 port operation licenses that will be auctioned off to investors this year. In a statement, the finance ministry update the calculation for the so-called


Aker Philadelphia Shipyard is Philly Shipyard Now

Photo by Aker Philadelphia Shipyard Inc

 Aker Philadelphia Shipyard ASA announces its plan to change its name to Philly Shipyard ASA, pending an upcoming shareholder vote at an extraordinary general meeting expected to take place in October 2015. Aker Philadelphia Shipyard, Inc






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright