Tsakos Energy Navigation Ltd. (TEN) announced three-year charter extensions for its 2002-built double-hull Suezmax tankers, Cape Baker and Cape Balboa, to a major South American state oil company. The charter rates for the extensions are significantly higher than the prior rates and are over 55% higher than TEN's charter-in obligations, reflecting a healthy outlook for the market. Gross revenues for these two vessels are expected to exceed $75 million over the three-year charter period. These vessels were part of a sale & leaseback transaction TEN entered into in 2003 with options to repurchase the vessels, at specified prices, over the next two years.
Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that subsidiaries of the Company have entered into one year time charterer extensions for two of its containership vessels, the M/V Ninos and the M/V Despina P. The M/V Ninos, a 1,169 teu, 1990 built feeder container ship, has extended its time charter for an additional one-year at a gross daily rate of
Secretary of Transportation Norman Y. Mineta has approved an extension of the authority to provide war risk insurance under Section 1202 of the 1936 Merchant Marine Act (Act). Unlike Section 1205 insurance, which is provided to the Department of Defense (DOD) on vessels chartered to them at no premium and with a full DOD indemnity, Section 1202 insurance is underwritten by DOT in return for a premium from shipowners. This insurance or reinsurance of vessels is available for vessels (including
Tsakos Energy Navigation Limited (“TEN”) has announced a three-year time charter with profit sharing for the 2007-built double-hull suezmax tanker Arctic. The charter, which began this month, is structured with a minimum rate and a 50/50 profit share up to an agreed maximum rate. The gross proceeds from the charter, assuming only the minimum rate, are expected to exceed $25 million over the corresponding period
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has agreed to extend the present time charter contract with Clearlake Shipping Pte. Ltd., Singapore, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate will remain $15,500 (USD) per day, minus a 4.75% commission paid to third parties, for a period of up to minimum February 15, 2015 to maximum May 10, 2015
Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Aquarius, a 1996-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders. The extension is for an additional four to six months, at charterer's option, at a gross charter rate of $10,700 per day, compared to the current charter rate of $8,390 per day. The extended time charter will commence immediately upon expiration of the vessel's current time charter on
Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) TOO -0.92% , announced today that it has entered into a new long-term contract with a subsidiary of BG Group plc (BG) to provide shuttle tanker services in Brazil. The contract with BG will be serviced by four Suezmax-size DP2 shuttle tanker newbuildings to be constructed by Samsung Heavy Industries in South Korea
Euroseas Ltd. (NASDAQ:ESEA), an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that a subsidiary of the Company has extended for approximately one year (until March 1, 2013) its time charter agreement, for the vessel Despina P, a 1932 teu, 1990 built Handysize containership, at a gross daily rate of $7,000. The new rate will commence on January 19, 2012
DOF Subsea, a provider of integrated subsea solutions, has chartered a new multipurpose vessel to assist in North Sea operations. The company has entered into a long-term charter agreement with Reach Subsea for the newbuild construction support vessel (CSV) Normand Reach. DOF Subsea has signed a two-year contract with Reach Subsea with two one-year extension options. The Normand Reach is due to be delivered before the end of May 2014 and will replace DOF Subsea’s existing Skandi
Navis Engineering has completed work on its latest project involving fast-growing Singaporean offshore specialist Miclyn Express Offshore (MEO), following the commissioning of the DP2 system on board the 70m ROV and diving support vessel Resolution. After successful sea trials and a christening ceremony at the Keppel Bay Marina, Singapore, the vessel has departed for Indonesia, on a three-year charter to Seascape Surveys.
Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Orion, a 1997-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders. The extension is to between November 26, 2015 and February 26, 2016
New policies making it easier for foreign-flagged vessels to explore the coastlines of Australia have lead DYT Yacht Transport (DYT) to schedule its largest semi-submersible yacht carrier, the 686-foot (209-metre) Yacht Express, to deliver yachts to the South Pacific
Athens-based Box Ships has announced that it has secured a two year extension on a loan facility with ABN Amro, which was scheduled to mature next month. Following this extension, the balloon amount of $10 million is repayable in 8 equal quarterly installments of $250
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
Diana Shipping Inc. specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto
Ship Finance International Limited has acquired three 9,000 teu capacity container ships that are under construction from an unrelated third party. The Fredriksen-led company said that the three vessels are currently being constructed to a fuel-efficient design at an undisclosed yard
US-headquartered owner and operator of modern Very Large Gas Carriers (VLGC) Dorian LPG took delivery of the ECO VLGC Cougar from Hyundai Samho Heavy Industries. Cougar, Dorian LPG's fourth newbuilding delivery, will initially trade in the spot market through the Helios
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.
Knutsen NYK Offshore Tankers AS (KNOT) has concluded a time-charter contract with Brazil Shipping 1 Limited, a subsidiary of the U.K. energy supplier BG GROUP PLC. This contract is for a maximum 20-year period starting from the second quarter of 2017 and follows the
Ship scrapping subsidy program originally due to run to end-2015; show of government support amid continuing industry downturn. China on Tuesday extended by two years a subsidy programme that encourages shipping companies to scrap old vessels in a bid to support an industry struggling to emerge
Imperial Oil Ltd said on Friday it is deferring plans to drill an exploratory well in the Beaufort Sea in Canada's Arctic as it seeks an extension to the length of its exploration license in the region. Pius Rolheiser, a spokesman for the company, said the license
Imperial Oil Ltd said on Friday it and partners Exxon Mobil Corp and BP Plc need more time before they can drill an exploratory well in Canadian Arctic waters and are seeking an extension to their exploration license in the region.
Dry bulk marine transport provider Scorpio Bulkers Inc. announced today that it has agreed to time charter-out the SBI Montesino, a Capesize vessel that is currently under construction in South Korea with delivery expected in July, 2015. Upon delivery from the shipyard
Otto Marine Limited, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, has announced that in the second quarter of financial year 2015 (Q2FY2015) till date
Seaspan Corporation accepted delivery of a 14,000 TEU containership, the YM Witness. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's fourth 14,000 TEU SAVER design containership and fifth delivery in 2015.