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


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


Tsakos Announces Public Offering

Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator, today announced that it plans to offer its Series B Cumulative Redeemable Perpetual Preferred Shares (the Series B Preferred Shares) in a public offering under its effective shelf registration statement. TEN intends to use the net proceeds from the offering for general corporate purposes, which may include making vessel acquisitions or investments


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.


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)


Indonesia to Bar Migrant Boats at Sea

Indonesia will prevent boats carrying migrants from entering its maritime territory to avert a flood of others following behind causing "social issues", the military chief said on Friday. General Moeldoko said the military was carrying out patrols at its maritime borders and would


LNGL Raises A$174 mi for N. American Projects

Liquefied  Natural  Gas  Limited  announced the placement of 40 million fully paid ordinary shares in the capital of LNGL, which has raised A$174 million before costs (Placement). Use of Proceeds The proceeds of the Placement will be used towards:


ABB to Make Robots in the US

Courtesy ABB

  ABB announced today it will start production of robots in the United States, making it the first global industrial robotics company to fully commit to and invest in a North American robotics manufacturing footprint. The company made the announcement at the opening of a new robotics plant


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


JSMEA Offers Access to Japan’s Offshore Suppliers

JSMEA website.jpg

New website and brochure provide a comprehensive list of Japanese suppliers to the offshore industry The Japan Ship Machinery and Equipment Association (JSMEA) has compiled a list of Japanese-made ship machinery and equipment products for offshore units


Milaha Reports Improved Net Profit for Q1

HE Sheikh Ali bin Jassim Al Thani

Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs. QR 699 million for the same period in 2014, an increase of 12% quarter over quarter


Committee to Consider Coast Guard Authorization Bill

The U.S. Committee on Transportation and Infrastructure, chaired by U.S. Rep. Bill Shuster (R-Pa.), will mark up legislation this week that authorizes United States Coast Guard (USCG) and Federal Maritime Commission (FMC) funding levels for two years


JSMEA Offers Access to Japan’s Offshore Suppliers

JSMEA website.jpg

New website and brochure provide a comprehensive list of Japanese suppliers to the offshore industry   The Japan Ship Machinery and Equipment Association (JSMEA) has compiled a list of Japanese-made ship machinery and equipment products for offshore units


Costamare, York Capital to Extend Shipping Pact

Image: Costamare Inc

 Greek ship-owner Costamare and US-based hedge fund York Capital Management are considering extending the life of their investment joint venture that has already spent more than $1 billion on new and secondhand container ships.  


Scorpio Tankers to Launch 15mln Public Share Offering

Photo credit: Scorpio Tankers Inc

 Scorpio Tankers has announced a public offering of 15 million common shares, with an underwriter’s option to purchase up to an additional 2.25 million units.   New York Stock Exchange-listed Scorpio says it plans to use the proceeds to fund part of the acquisition costs of


Topaz Energy and Marine Secures $550m Facility

Topaz Energy and Marine, an offshore support vessel company, announced a new $550 million facility.   The facility is arranged over three tranches. The first is a conventional and Islamic senior secured, term loan of $350 million over seven years which will be used principally to repay


Hertel Offshore Renamed CKT Projects

Photo courtesy of CKT Projects

Hertel has announced the acquisition of Hertel by Altrad  for its worldwide access solutions, insulation, corrosion protection and mechanical businesses. Hertel Offshore was not part of the acquisition by Altrad, but will continue its activities and business with the same shareholders (NPM


SSGC Shortlists Akbar Associates for Second LNG Terminal

Image: Sui Southern Gas Company

 Akbar Associates has won the bid for constructing the second liquefied natural gas (LNG) terminal in Pakistan by offering the lowest tariff of 49.87 cent per million British Thermal Unit (mmbtu) for the LNG terminal.   The board of Sui Southern Gas Company (SSGC) made the decision in


DP World to price $500 mln Bond

DUBAI, May 11 (Reuters) - Dubai's DP World has released initial price guidance for a $500 million bond expected to be sold on Tuesday, a document from lead managers showed. The deal is earmarked to price in the area of 180 basis points over midswaps


RINA: Energy, Marine Propel Growth

International testing, inspection, certification and consulting engineering group RINA reports it has grown strongly during 2014, propelled by an upturn in marine, acquisition in the energy sector and international diversification. Turnover for 2014 grew 13 percent to Euro 333 million






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