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
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
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
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
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 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.
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
* Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015.
The engineering group Monadelphous has won a $200 million Shell Australia contract on its Prelude floating LNG project off the Kimberley coast. The contract is for major, long-term maintenance and modifications services for the Prelude Floating Liquefied Natural Gas (FLNG)
Greece has pushed back the date for the submission of binding bids for the sale of its biggest port Piraeus (OLP) by two weeks to Dec. 15 upon investor request, the head of its privatization agency said on Thursday. China's Cosco Group
NOIA President Randall Luthi, issued a statement on Statoil’s decision to exit the Alaskan Arctic, calling the departure “disappointing” yet “understandable” due to a tough economic and regulatory climate.
Diana Shipping Inc. today reported a net loss of $17.4 million and net loss attributed to common stockholders of $18.8 million for the third quarter of 2015, compared to net income of $7.7 million and net income attributed to common stockholders of $6
Collaboration is Key to tackling Middle East's ageing structures challenge say DNV GL. The Middle East faces a substantial challenge to ensure hundreds of ageing offshore oil and gas structures operate safely beyond original design life.
Seaspan Corporation announced that Sai Chu, Chief Financial Officer, has informed of his resignation and retirement from Seaspan effective November 6, 2015, after more than 10 years' of service with Seaspan and related entities. Gerry Wang, Chief Executive Officer
The Berth 9 Extension at the Port of Felixstowe, the Port of Britain, has been opened by Dr Therese Coffey MP, Deputy Leader of the House of Commons. The 190-metre extension increases the port's capability to work two of the world's largest containerships simultaneously
Global Ship Lease (GSL) has reported negative result for the third quarter of the year mainly due to impairment charges related to two vessels. Company reported revenue of $42.18 million. The estimated revenue was of $39.92 million. Earnings per share were $0.08
China Shipping Group's CSCL has agreed a deal to bareboat charter up to 11 units of 21,000 teu containerships, of which five will be options exercisable after six months of charter for the first six ships, says local media reports.
DONG Energy announced today it has decided to construct the 660MW Walney Extension Offshore Wind Farm, located in the Irish Sea, approximately 19 kilometersm off the west coast of Britain. The final investment decision has been made after securing all necessary consents from authorities
FSL Trust Management Pte. Ltd. (FSLTM), as the trustee-manager of First Ship Lease Trust (FSL Trust), announced that FSL Trust has entered into a memorandum of agreement to purchase a 2007, Japanese-built, 45,998-dwt MR product tanker for $21.8 million.
There are new-builds, and there are conversions. In lean times, there’s also “life-extension” for FPSOs increasingly seen as the best hope of developing oilfields too pricy as platform projects. Life extension is about making first-time money
Seaspan Corporation announced today that it accepted delivery of a 14000 TEU containership, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14000 TEU SAVER design containership and eighth delivery in 2015.
Seaspan Corporation has accepted delivery of a 14,000 TEU containership new build, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14,000 TEU SAVER design containership and eighth delivery in 2015.