Costamare Inc. (NYSE: CMRE)has reached agreements for the purchase and time charter of two secondhand vessels; time charter extensions for six existing vessels; and the disposal of two older vessels which the company agreed to sell for demolition. In addition, it finalized the financing arrangements for its Newbuilding Program. The Company has reached an agreement to acquire: 1) the 6,724 TEU, 2003-built containership MSC Viviana (to be renamed MSC Messinia) for a purchase price of $60 million. The vessel is expected to be delivered by the end of October 2011 and immediately upon delivery it will commence a time charter with MSC for a duration of approximately 10 years, at a daily rate of $29,000; and 2) subject to final documentation, the 4,132 TEU, 2002-built MSC Ulsan for a purchase price of $30 million. The vessel is expected to be delivered within the first quarter of 2012 and immediately upon delivery it will commence a time charter with MSC for a duration of approximately 63 months, at a daily rate of $16,500. Both acquisitions will be financed by cash from operations and the use of a committed credit line. The Company has entered into agreements to extend the time charters for the following six existing vessels: 1) The time charter agreement with MSC for the 1991-built, 2,023 TEU c/v MSC Sierra II, has been extended as from July 1, 2012, for a further period of approximately two years, at a daily rate of $11,500.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP; SHIP.W) announced that the MVs African Joy, African Glory and Asian Grace, owned though the company’s wholly owned subsidiary Maritime Capital Shipping Limited (MCS), have entered into new charter agreements with first class charterers. The MV African Joy, a 1996 built and 26,482 dwt handysize dry bulk carrier, entered into a time charter agreement for a period of eleven to thirteen months with a first class charterer at a gross charter
Evergreen Marine Corporation has entered a slot-charter agreement with Hanjin Shipping Company on the trade lane between the East Coasts of North and South America and another encompassing Asia, South Africa and South America. The US/South America service encompasses the ports of New York, Norfolk, Savannah and, in South America, Rio Grande, Itajai and Santos, all in Brazil. The trade route is know as the ECAS and commenced with a northbound voyage of the M/V YM Santos
ATHENS, GREECE, April 7, 2011- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced the following vessel chartering activities: Star Cosmo The Company entered into a time charter agreement with SK Shipping for the vessel Star Cosmo for a period of 11-13 months, at a gross daily rate of $16,500. The new contract will contribute minimum $5.5 million to maximum $6.8 million in gross revenue
Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, today announced that it has entered into definitive agreements to acquire two Capesize bulk carriersfor an aggregate purchase price of approximately $51.5 million. The first Capesize vessel has a carrying capacity of approximately 168,000 dwt and was built in South Korea in 1996. This vessel has a time charter agreement with a major mining company until November 2015 at the
Commissioner William P. Doyle’s in a statement today said, "I am voting to take no further action on the Hanjin/UASC/CMA CGM/CSL Vessel Sharing and Slot Charter Agreement. This agreement is scheduled to become effective on January 2, 2015." The agreement commonly referred to as the Ocean Three Alliance was filed in October 2014 and went into immediate effect because it met the low market share threshold exemption pursuant to FMC regulations
U.S. Shipping Partners L.P announced that it has entered into a long-term charter agreement with BP for a new double-hulled product tanker being built for U.S. Shipping Partners' tanker joint venture by General Dynamics NASSCO in San Diego. This vessel is due for delivery in early 2009 and will be employed by BP in the U.S. domestic coastwise trade. The ship is the first in U.S. Shipping's new series of nine vessels.
APL, the container transportation arm of Neptune Orient Lines, has signed a charter agreement for five new post-Panamax container vessels. The ships will each have a nominal capacity of 7,000 TEU (twenty-foot equivalent unit) and will be deployed in the Transpacific trade from 2009. The vessels are being built at Hyundai Heavy Industries in South Korea and will be chartered for five years from German owners, Bernhard Schulte.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) (NASDAQ: SHIPW) announced that it has entered into a time charter agreement for the M/V Davakis G. The charter is for approximately one year at a gross daily rate of $21,000 and is expected to commence upon completion of the vessel's present employment. As a result, the company's current controlled fleet includes 11 drybulk carriers (four Capesize, three Panamax, two Supramax and two Handysize vessels) with a total carrying capacity of 1,043
Danish shipping company D/S Norden has renegotiated charter agreements for nine vessels with their Japanese owners in reaction to record low dry bulk freight rates. The company has made a one-off payment of $51.5 million in return for a reduction in future time-charter payments to $62 million in the next four years, saving it $10.5 million, it said in a statement on Thursday. "We have similar time-charter contracts where we could renegotiate contracts
On Thursday, April 9, the official naming ceremony took place for inspection repair and maintenance (IRM) light construction vessel Olympic Bibby, at the Kleven Shipyard, Norway. The ceremony saw the vessel’s official Godmother Connie Brown
MODEC, Mitsui, MOL and Marubeni to Proceed with the Deepwater FPSO Charter Project for Tartaruga Verde & Tartaruga Mestiça Oil Fields Offshore Brazil MODEC, Inc., Mitsui & Co., Ltd. Mitsui O.S.K. Lines, Ltd., and Marubeni Corporation have agreed that Mitsui
Mitsui & Co. has signed a 25-year time charter deal with Trinity LNG Transport for the eight liquefied natural gas (LNG) carrier that will ship the liquefied natural gas from Cameron LNG project in the United States. “Mitsui has newly contracted yesterday the eighth ship
Agreement enables high-speed catamaran ferry company Rhode Island Fast Ferry to commission first US-built crew transfer vessel, to be built by Blount Boats, and launch Atlantic Wind Transfers, its commercial wind support services division.
Aegean Marine to commence operations in the Gulf of Mexico; assumes charter agreements for two vessels. Aegean Marine Petroleum Network Inc. will commence immediate marine fuel supply operations in the Gulf of Mexico. In support of its operations
BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co. BOURBON has completed the transfer of ownership under the agreements with ICBC Financial Leasing (ICBCL) and
Inspection, maintenance and repair (IMR) specialist N-Sea has extended its charter agreement with Siem Offshore following three years of operations. The renewed agreement, concerning Siem Offshore’s offshore subsea construction vessel, Siem N-Sea (previously Siem Stork)
TOP Coral do Atlantico is the first of two, characterized by a high ppelay tension capacity of 550 tons and a storage capacity of 4,000 tons, designed to install umbilical and flexible flowlines and risers to connect subsea wells to floating production units in water up to more than 2
Oceaneering International, Inc. has entered into a two-year, multiservice vessel charter agreement with Shell Offshore Inc. for use of the Ocean Alliance in the U.S. Gulf of Mexico (GOM) commencing January 1, 2015. The Ocean Alliance is a U.S
Evergreen Group signed time charter agreements with Shoei Kisen Kaisha, Ltd. (Shoei) to charter a total of 11 18,000 TEU vessels, which include the six units of the same capacity announced by Evergreen Marine Corp. (EMC) and its subsidiary last December
BSM is to take on the ship management of two new ULSTEIN SX175 Service Operation Vessels (SOVs), ordered as part of a WINDEA joint venture involving its parent company Bernhard Schulte. Both vessels are to be built at the Ulstein Verft shipyard in Norway and will be operated by Bernhard Schulte
World’s largest carriers part of 2M Alliance offering two weekly services from New Orleans Maersk Kotka called the Napoleon Avenue Container Terminal on February 9, signalling Maersk Line’s return of vessel service to the Port of New Orleans
Mitsui O.S.K. Lines, Ltd. announced today that through a joint venture ship-owning company with Itochu Corporation charter agreements have been signed with E.ON Global Commodities SE, a wholly owned subsidiary of E.ON SE. The joint venture also signed a deal with Daewoo Shipbuilding
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, has entered into a two-year time charter agreement with a prominent US domestic oil company for the FSL Hong Kong, a 115,000 dwt crude oil tanker built in 2007.
The gas tanker Grand Elena, jointly owned by PAO Sovcomflot and the Japanese company NYK, has embarked on her hundredth voyage from the port of Prigorodnoye in Russia to Japan. The vessel is undertaking her latest shipment of liquefied natural gas (LNG) on behalf of Sakhalin Energy Investment