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Charter Agreement

Costamare Purchases, Disposes of Vessels

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, Three New Time Charters

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 Enters Slot-Charter Agreement with Hanjin

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


Star Bulk Enters Into New Time Charter Agreements

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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 Acquires Two Capesize Vessels

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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


Doyle Gives Thumbs Up to Ocean Three

Hanjin Shipping

  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


APL Finalizes Ship Charter Deal

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 Time Charter Agreement

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


Norden Renegotiates C/P's as Low Rates Bite

Photo: D/S Norden

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


NewLead Holdings Announces Commercial Competency of MT Sofia

MT Sofia Photo Newlead

   NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet. The Sofia is a 2008-built bitumen tanker vessel of 2,888 dwt and is one of the five bitumen tanker vessels that were delivered to NewLead's fleet during the fourth quarter of 2014. Since the end of November 2014, when NewLead took delivery of the Sofia


Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural Gas (LNG) carriers from France's Societe Generale. The two entities, Milaha Ras Laffan and Milaha Qatar


FSL Trust Inks Tanker Contracts

FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust announced new time charter agreements for FSL Shanghai, FSL Hamburg and FSL Singapore. The Trust has reached an agreement with a leading global commodities trader to charter the three vessels for a fixed period of two


Transgrain Charters Diana Panamax Bulker

m.v. Clio

  Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that on July 8, 2015, through a separate wholly-owned subsidiary, it entered into a time charter contract with Transgrain Shipping B.V


Damen Offshore Carrier Maersk Connector Launched

Launch of Maersk Connector at Damen Shipyard

  Yesterday senior representatives of Maersk Supply Service, DeepOcean UK and the Damen Shipyards Group who gathered at Damen Shipyards Galati, Romania witnessed the launching of subsea support vessel Maersk Connector. The vessel is owned and operated by Maersk Supply Service and is built to


Maersk Vessels Returns to Port of New Orleans

The 7,400-TEU Maersk Kotka arrived at the Port of New Orleanss Napoleon Avenue Container Terminal February 9 signaling the return of the Maersk Vessel service to New Orleans. (Photo courtesy of the Port of New Orleans)

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


MOL JV Ink Deal for 2 LNG Vessels

  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 Signs Charter Agreement with US Oil Company

  Alan Hatton, CEO of FSL Trust Management (photo courtesy of FSL Trust Management)

  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.  


Grand Elena's Hundredth Voyage

LNGC Grand Elena has embarked on her hundredth voyage from Prigorodnoye

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


New Bibby Offshore Vessel Christened

Olympic Bibby (Photo: Bibby Offshore)

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


FPSO Charter Bussiness for Offshore Brazil Oil Fields

FPSO Charter-Business for Offshore Brazil- Courtesy MOL

  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 Charters Eight LNG Newbuild

LNG carrier LNG Pioneer. Photo:  Mitsui Lines

 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


Block Island Wind Crew Transfer Contract Awarded

Photo courtesy of Seacat Services

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.  


SFL Adjusts Charter Agreement with Frontline

Photo courtesy of Ship Finance International

Ship Finance International Limited (SFL) announced that it has entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd. The company currently has 17 vessels on charter to subsidiaries of Frontline


SFL, Frontline Complete Long-term Charter Agreement

On May 29, 2015, Ship Finance International Limited (SFL) entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd. The agreement is now completed, and Frontline has issued and delivered 55 million new shares to Ship Finance


EMGS Implements Further Cost Reductions

Resistivity attributes and seismic integration from discoveries

  Electromagnetic Geoservices ASA (EMGS) announce that the Company implements further cost reductions reflecting the challenging market conditions in the oil service industry.   As communicated in the first quarter report, the Company initiated cost reduction measures in the beginning






 
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