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Charter Extension

TEN Announces Time-Charter Extensions for Tankers

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 Announces Charter Agreements for Container Ships

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


TEN Announces Three-Year Charter

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, Clearlake Extend Charter

Myrsini (photo: Diana Shipping)

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 Extends Ville d'Aquarius Time Charter

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


Diana Shipping Continues Charter with RWE

m/v Maia (Photo: Diana Shipping)

Diana Shipping Inc., a global shipping company 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 RWE Supply & Trading GmbH, Essen, Germany, for one of its Kamsarmax dry bulk vessels, the m/v Maia, for a period of minimum 17 months to maximum 20 months. The gross charter rate is $7,500 per day, minus a five percent commission paid to third parties


U.S. Extends Marine War Risk Insurance

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


Teekay Offshore Signs Brazil Shuttle Tanker Contract

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 Announces Time Charter Extension

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


Navis Builds on Singapore Success

Resolution

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.


Transas Adds Weather Data to Navi-Planner 4000

Image: Transas

Transas has teamed up with Theyr Ltd (UK) to incorporate weather and ocean data within the Transas Navi-Planner 4000.   With the weather data from Theyr, the Transas Navi-Planner 4000 will provide end-users with important features like ON / OFF toggling of the weather overlay and its


Seacat Services Supports Dong Construction Race

24 month, four-workboat, charter service agreement to provide DONG Energy with construction support across the Race Bank offshore wind project   DONG Energy, a developer of offshore wind projects, and offshore energy support vessel operator Seacat Services, today confirmed a two-year


Navios Secures MR2 Product Tanker Charters

Navios Maritime Acquisition Corporation, announced today the employment of three product tankers at charter rates that are, on average, 14 percent higher than their previous charter rates.   The Nave Equator, an MR2 product tanker, has been chartered to a high-quality counterparty for 18


Bahri, Rickmers-Linie Ink Charter Deal

Bahri Rickmers-Linie in Charter deal

Rickmers-Linie, the Hamburg based specialist for project and heavy lift liner services and the National Shipping Company of Saudi Arabia (trading as Bahri Liner) have recently signed a space charter agreement. The agreement covers the ports on the US Atlantic and Gulf Coasts as well as ports in


Charters of Tsakos Tankers Extended

Image: Tsakos Energy Navigation

 Tsakos Energy Navigation (TEN) announced charter extensions with a state oil company with profit sharing provisions for four panamax tankers, with an average duration of 22 months per vessel and minimum gross revenues of $65 million.  


TEN Fixes Five Panamaxes

Courtesy TEN (Tsakos Energy Navigation Ltd)

Tsakos Energy Navigation Ltd. (NYSE:TNP), a leading crude, product and LNG tanker operator, today announced charter extensions with a state oil company with profit sharing provisions for five panamax tankers, with an average duration of 22 months per vessel and minimum gross revenues of $65 million


ABB to Link Offshore Wind Farm to UK Grid

Image - Hornsea Project One Courtesy ABB

High-voltage cable system to enable renewable energy supply from Hornsea Project One Offshore Wind Farm to around one million households     ABB has won an order worth more than $250 million from the Danish energy company DONG Energy to deliver a 220-kilovolt (kV) high-voltage


Dynagas Partners inks long-term deals for two LNG Vessels

Courtesy Dynagas Partners

Dynagas LNG Partners LP enters into new long-term time charter agreements for two of its LNG carriers and maintains current level of cash distribution following its latest drop down from its Sponsor Monaco – March 31, 2016 –Dynagas LNG Partners LP


Dynagas Clinches New Time Charter Contracts

OB RIVER. Photo by Dynagas LNG Partners LP

 Dynagas LNG Partners, the owner and operator of LNG carriers, has signed an extension and two new charter deals with Gazprom for the 2007-built Ob River until May 1, 2018.    In addition, the Partnership has entered into a new long-term time charter agreement with Gazprom


Schlumberger Led Consortium Wins Malaysia Offshore Survey

Image: TGS

 Malaysia has opened an area of its offshore waters to the multi-client seismic model for the first time. The move is a result of a new initiative by Petronas to stimulate offshore E&P investment activity.   “A consortium comprising of PGS, TGS and Schlumberger WesternGeco


Taqa Extends Wood Group Contract

Image: Wood Group PSN

 Wood Group has secured a two-year contract extension with TAQA in the North Sea.   Wood Group PSN, will continue to provide engineering, construction and maintenance services to five offshore assets - Cormorant Alpha, North Cormorant, Eider


BIMCO, GIIGNL issue Voyage Charter for LNG Trade

Photo Courtesy  GIIGNL

BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party – LNGVOY - designed for the expanding LNG spot market. During the development process, BIMCO and GIIGNL consulted with the industry globally to


XL Catlin Unveils Cargo Insurance Policy

Anne Marie Elder (Photo: XL Catlin)

XL Catlin’s Americas Marine business has introduced its first new marine product, an insurance policy to offer cargo insurance coverage on a domestic, foreign or worldwide basis.   According to Anne Marie Elder, Chief Underwriting Officer of XL Catlin’s Americas Marine business


Asia Tankers-VLCC Rates Fall on Reduced Demand

MidEast VLCC rates fall nearly 30 Worldscale points this week; port congestion in Basra, China adding to market uncertainty. Freight rates for very large crude carriers (VLCCs) may drift lower next week on weaker sentiment among owners and reduced chartering demand ahead of the release of May's


Ports America Ups West Coast Investment

Ports America is continuing its business growth strategy to increase its West Coast presence through additional investments, services and expansion of its terminal capacity. The latest transaction includes a significant expansion and 20-year lease extension of the Husky Terminal in Tacoma, Wash






 
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