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Chartering Vessels

TotalFina Tightens Tanker Regulations After Erika Spill

Oil giant TotalFina, which chartered the ill-fated oil tanker Erika, has tightened its policy on chartering older tankers. However, company officials stressed that a new age limit on large ships, which would not have stopped it chartering the mid-sized Erika, need to be backed up by tougher international maritime standards and greater transparency of safety checks. The company is cutting to 20 years from 25 the upper age limit on chartered vessels of 80,000 dwt and above, while keeping it at 25 years for smaller ships. The Maltese-registered Erika, of 37,283 tons dwt, was 25 years old when it split apart and sank off the French coast last month, spilling thousands of tons of fuel oil that polluted the French coast.


Offshore UK: Government Brokers Use of BP Emergency Vessel

The agreement between the government and BP allows HM Coasguard to call on a BP-chartered vessel in the event of a pollution incident. An operational and commercial model has been brokered with the oil industry allowing HM Coastguard to call on a BP-chartered vessel, the Grampian Frontier, to provide support in the event of a pollution incident. The Emergency Response and Rescue Vessel (ERRV) operates west of Shetland and the owner North Star Shipping is working with the Maritime and


Odfjell Expands Fleet

Odfjell has bought M/T "Giada D" from Italian owners. The vessel is built in 1996 at Chantiere Navale de Poli, Italy and she is 10,115 dwt with stainless steel cargo tanks. The change of ownership will take place in 3rd Quarter 2006. Further, Odfjell has entered into a long-term time-charter agreement with purchase option for a vessel of 33.000 dwt with stainless steel cargo tanks. The ship will be built at Kitanihon Shipyard, Japan, and will be owned by Yuyo Steamship Co Ltd, Japan


Hamburg Sud's First Chilean Christening

Hamburg Sud conducted its first Chilean Christening in its 137-year history. Hamburg Sud has christened a container ship in Chile, the ceremony took place in Valparaiso on 9 January 2009. The Cap Graham is one of a series of three identical 4,294 TEU charter vessels of Norddeutsche Reederei H. Schuldt. Together with her two sister ships, the Cap Gilbert and Cap Gregory, as well as Hamburg Sud's Bahia class vessels, the Cap Graham is sailing in Sling 1 of the Hamburg Sud liner service


Offshore Solutions’ OAS, 1000 Connections

Photo courtesy Fifth Ring

Offshore Solutions B.V. (OSBV) reported that the OAS, mounted onboard the GDF SUEZ E&P Nederland B.V. (GSEPN) chartered vessel, REM Mermaid, has achieved over 1,000 operational connections without any LTIs. An OAS is a heave compensated telescopic gangway, enabling the safe transfer of personnel from a vessel to an offshore installation (wind turbine, oil or gas platform) designed to operate in 2.5 metre Hs (significant wave height) sea states


Rodriguez Appointed Deputy Maritime Administrator

Mike Rodriguez

Mike Rodriguez, U.S. Merchant Marine Academy Alum, was sworn in as Deputy Administrator of the U.S. Department of Transportation Maritime Administration (MARAD). Rodriguez has more than 35 years experience as a maritime industry professional in both the public and private sectors. He joins MARAD from the Navy’s National Maritime Intelligence-Integration Office. Prior to that, he served in the Military Sealift Command and in other active duty tours in the Navy


S&P Lowers Pegasus Rating

Standard & Poor's lowered its corporate credit rating on Pegasus Shipping (Hellas) Ltd. (Pegasus) to triple-'C'-minus from single-'B'-minus. At the same time, Standard & Poor's lowered its foreign currency senior secured debt rating to triple-'C'-minus from single-'B'-minus. All ratings are placed on CreditWatch with negative implications. The rating actions reflect Pegasus' rapidly diminishing financial flexibility owing to weak market conditions


Freeport Launches Charter Yacht

By Larry Pearson A new commercial charter yacht was delivered in July 2004 to SunQuest Yacht Charters, Shalimar, Fla. serving the Destin-Ft. Walton Beach, Fla. beach resort area with scheduled dinner cruises and special event charters. The 125 by 26-ft. luxury yacht was built by Freeport Shipbuilding Group, Freeport, Fla. The shipyard and SunQuest are both headed by Jim Murray, whose shipyard has been active in Florida for 30 years


Eagle Bulk Shipping Inc. Reaches Agreement With Korea Lines Corporation

eagle_bulk_shipping.jpg

NEW YORK, March 25, 2011 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE) ("Eagle Bulk") announced today that it has reached a comprehensive agreement with the Receivers of Korea Line Corporation ("KLC") regarding twelve time-chartered vessels impacted by KLC's decision to file for protective receivership earlier this year. The agreement follows extensive and highly constructive dialogue between the two parties.


Rickmers-Linie Carries Bangladesh-Made Ferry to Denmark

Rickmers-FerryBW-Thumb.jpg

Floating craft like motor yachts, sailing yachts or catamarans are quite a regular sight on Rickmers-Linie vessels. However, the ferry which Rickmers-Linie carried from Bangladesh to Denmark on board the long-term charter vessel Baltic Winter is remarkable.   It is the first ferry built by a Bangladesh shipyard for European owners and will be put in service by Hundested-Rørvig Færgefart AS across the fjord after which the ferry is named: Isefjord. At a length of 49


Bourbon Posts Weak First Half Results

PSV Bourbon Explorer 501 (Photo courtesy of Bourbon)

Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues


DNV GL, Marorka Ink Cooperation Agreement

From right to left: Dr. Torsten Büssow, head of the performance management unit at DNV GL and Albrecht Grell, head of DNV GL’s Maritime Advisory division sign a cooperation agreement with Ole Skatka Jensen, CEO of Marorka and Dr. Bjarki Andrew Brynjarsson, COO of Marorka at the SMM.

 At SMM today, a cooperation agreement was signed between DNV GL and Marorka. Under the cooperation, the companies will join forces to integrate DNV GL ECO Insight performance management portal with Marorka onboard data collection platform and decision support tools –thereby providing


SSI Highlights the Rise of the Sustainable Shipper

Charterers’ future procurement decisions will be driven by an increasing drive to improve sustainability within shipping supply chains. The Sustainable Shipping Initiative (SSI), a pioneering coalition of companies from across the global shipping industry focused on uniting commercial


OAO Sovcomflot’s 9M/Q3 2014 Results

  OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014.   Nine months 2014 – Financial Highlights (IFRS accounts) USD


Signet Closes $209m Financing Facility

Wells Fargo Equipment Finance, through its Energy and Marine and Capital Markets Groups, acting in the capacity of lead arranger, closed a $209 million financing facility today for Signet Maritime Corporation, a global marine transportation company based in Houston.


USCG Saves 6 from Sinking Vessel on Portage River

The U.S. Coast Guard (USCG) rescued six people from the Portage River near Port Clinton, Ohio, Thursday, after the vessel they were aboard began taking on water. Shortly before 1:30 p.m., a member of Rescue Marine Salvage Company notified the watch stander at Coast Guard Station Marblehead


Deep Sea Carriers Attracted to Intra-Asia Routes: Analysis

Intra-Asia Annual Volumes teu: Image courtesy of Drewry Maritime Research

Cargo growth on intra-Asia routes is attracting deep-sea carriers due to the availability of cheap charter vessels and economies of scale between China and SE Asia, but regional players also know how to form defensive alliances, reports Drewry Maritime Research in its latest 'Container Insight


Terntank Orders 2 More LNG Fueled Tankers

Chartering Dept of Terntank

Terntank proclaims its options on two sister ships to the two LNG powered product tankers ordered in the autumn of 2013. The oil company NEOT also confirmed that they are taking in two of these on time charter. Terntank Rederi AS now has four LNG powered 15


Great Lakes Coast Guard Rescue 9

  Coast Guard and Coast Guard Auxiliary  crews across the Great Lakes rescued 9 people during multiple cases from different locations across the Coast Guard 9th District Saturday. The names of those rescued are not being released and there is no imagery or video for any of the


Matson Increase Quarterly Dividend 6.25 %

Matson ships meet: Photo Matson

The Board of Directors of Matson, Inc. a leading U.S. carrier in the Pacific, informs it has declared a third quarter dividend of $0.17 per common share.  The dividend represents a one-cent increase, or 6.25 percent, over the previous quarter's dividend and will be paid on September 4


Search for Possible Missing Kayaker Near Kauai

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The Coast Guard is searching for a possible missing kayaker in the Kaulakahi Channel off Kauai, Sunday.   Watchstanders at Coast Guard Sector Honolulu  received notification from the charter vessel HOLO HOLO that reported sighting an unmanned 15-foot yellow


Matson to Release Q2 2014 Financial Results

Matson containerships: Image courtesy of Matson

Leading U.S. carrier in the Pacific, Matson, Inc., informs it will release its financial results for the Second Quarter 2014 on Thursday, July 31, 2014. President and Chief Executive Officer Matthew Cox and Senior Vice President and Chief Financial Officer Joel Wine will discuss the results for


USCG Assists Stranded Charter Vessel

U.S. Coast Guard (USCG) crews are assisting a disabled passenger vessel approximately 13 miles east of Nahant, Massachusetts, Monday. Watchstanders at Coast Guard Sector Boston received notification at approximately 4:30 p.m., that the 83-foot passenger vessel Cetacea had a line entangled in


VSTEP Delivers FMB Simulator to Danaos

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Danaos Corporation purchased a NAUTIS DNV Class A FMB Simulator and Instructor Station for training of its fleet members.  The simulator will be delivered and installed by VSTEP at Danaos Shipping Co Ltd. Headquarters in Piraeus, Greece.  


CMA CGM Continues Expansion, Confirms Profits

Photo: CMA CGM

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014.






 
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