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Corporation Announces

OMI Corporation Announces Vessel Sale

OMI Corporation announced that it has sold the Soyang, one of its Suezmax tankers, to Jacob Tankschiffahrtsgesellschaft GmbH & Co. KG and agreed to time charter the vessel back for a period of five years. The company has options to extend the time charter and to repurchase the vessel at the end of the time charter. The transaction results in a gain of approximately $5 million dollars, which will be realized over the term charter. The transaction has increased the company’s cash by approximately $20 million after repayment of the debt allocable to the vessel. Craig H. Stevenson, chairman, chief executive and president OMI commented that “in potentially prolonged weak markets, it is especially important to have cash on hand both to withstand the lower cash flow and take advantages of opportunities. This transaction is an important step in increasing the company’s liquidity.”

COSCO Zhoushan Shipyard Delivers Another Bulk Carrier

COSCO Corporation announce delivery of a 57,000 dwt bulk carrier to a European buyer COSCO Corporation (Singapore) Limited announces that COSCO (Zhoushan) Shipyard Co., Ltd ("COSCO Zhoushan"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 57000DWT, named "SUPERIOR", to its European buyer. The delivery documents were signed by and between COSCO Zhoushan and the buyer recently

Todd Shipyards Wins Navy Contract

Todd Shipyards Corporation announced that the U.S. Navy has awarded to its wholly owned subsidiary, Todd Pacific Shipyards Corporation, a delivery order under its Multiple Award Contract in the amount of $5m for the in-drydock repairs and preservation of Caisson #4 at Drydock #2 at Puget Sound Naval Shipyard in Bremerton, Wash. Work will be accomplished by the Todd Pacific workforce and selected subcontractors commencing in August 2006 with completion scheduled for November 2006

GlobalSantaFe Corporation Announces Update to Fleet Contract Status

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation (GSF)said that its report of drilling rig status and contract information has been updated as of June 8, 2007. The drilling rig status and contract information report on GlobalSantaFe's offshore drilling fleet is available in a condensed format via the company's Web site at The report is located in the "Investor Relations/SEC filings" section

Seaspan Delivers Vessel

Seaspan Corporation announced the delivery of its 23rd vessel, the Maersk Moncton, a 4800 TEU containership built in 1989. The vessel was purchased from A.P. Moller Maersk A/S (APMM) and will be time chartered back to APMM for five years from delivery. APMM has options to extend the charter by up to four years from the end of the firm charter period. The Maersk Moncton, formerly named the Mathilde Maersk, is the final ship in the series of four sister vessels purchased from and chartered

Danaos Adds New Containerships

Danaos Corporation announced that it took delivery of two containerships; the Zim Sao Paolo and the Zim Rio Grande, respectively. Each vessel has a carrying capacity of 4,253 TEU. Both vessels were built by Samsung Heavy Industries and they were delivered approximately a month earlier than scheduled. Each vessel has already commenced its 12 year time charter at fixed rates immediately upon delivery.

General Maritime Delivers Genmar Gabriel

General Maritime Corporation announced the delivery of the Genmar Gabriel to Seatankers Management Co. Ltd. This represents the final delivery of the 17 single-hull and double-sided vessels the Company sold for $444.5 million in October and November of 2005. With the delivery of the Genmar Gabriel, and including the four Suezmax newbuildings to be delivered between March 2006 and 2008, the average age of

Chemoil Files Suit Against STUSCO

Chemoil Corporation announced today that it has filed suit against Shell Trading US Co. (STUSCO) in the Federal Courts of the Southern District of Texas in connection with certain acidic products, which STUSCO supplied to Chemoil during 2003. In this suit, Chemoil is seeking indemnity from STUSCO, as well as damages for breach of contract and other causes of action. This action is directly related to a series of TAN (Total Acid Number) bunker claims received by Chemoil in New Orleans

Carnival Declares Third Quarter Dividend

Carnival Corporation announced today that its Board of Directors declared a regular quarterly dividend of 10.5 cents per share for the third quarter ending August 31, 2002. The dividend is payable on September 13, 2002, to shareholders of record on August 30, 2002.

Northrop Grumman Extends NNS Offer

Northrop Grumman Corporation announced that it has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. from Aug. 30, 2001, to Sept. 13, 2001, at midnight E.D.T.

Teekay Secures $1bln from Chinese Bank

 Teekay Corporation announced today it has entered into a framework cooperation agreement with the Export-Import Bank of China (CEXIM) for up to $1 billion in new loan facilities.   The loan facilities would be made available to Teekay and its subsidiaries

Danaos buys 3 Boxships via new JV

Photo Danaos Corporation

  Danaos Corporation announced today the acquisition of three vessels through a newly-formed joint venture, capitalizing on depressed asset prices in the resale market. The vessels were acquired by Gemini Shipholdings Corporation, a newly-formed entity ("Gemini") beneficially

Dredging Contract Awarded for Corpus Christi LNG Terminal

U.S. dredging services provider Great Lakes Dredge & Dock Corporation announced it was awarded a contract for work on an export terminal under the development of Corpus Christi Liquefaction, LLC (CCL).   CCL, a subsidiary of Cheniere Energy, Inc

Seaspan Acquires Eighth Boxship


  Seaspan Corporation announced today that it accepted delivery of a 10000 TEU containership, the Maersk Guayaquil. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., is Seaspan's eighth 10000 TEU SAVER design containership and seventh delivery in

New Tanker Delivered to Ardmore Shipping

Ardmore Chinook (Photo: Ardmore Shipping)

25,000 DWT IMO 2 product and chemical tanker ship, Ardmore Chinook, joins Ardmore fleet   Ardmore Shipping Corporation announced that its latest newbuild tanker vessel, the Ardmore Chinook, was delivered by Japanese shipbuilder Fukuoka Shipbuilding Co

Teekay Sells FPSO, Announces Dividend Boost

Photo: Teekay

Teekay Corporation to complete sale of the Knarr FPSO and announces dividend increase of 75 percent   Teekay Corporation announced today that its board of directors has declared a cash dividend on its common stock of $0.55 per share for the quarter ended June 30, 2015

ACT Burgas Implements Terminal Operating System

Navis, a part of Cargotec Corporation, announced that ACT Burgas, the container department of BMF Port Burgas EAD, has gone live on the Navis N4 terminal operating system (TOS).   ACT Burgas operates in one of only two major Bulgarian ports in the Black Sea

Wärtsilä Acquires L-3 MSI

Wärtsilä completes acquisition of L-3 Marine Systems International    Wärtsilä Corporation announced that its acquisition of the Germany based L-3 Marine Systems International (MSI) has been finalized and control of the company will be transferred to

Mobil Says Oil Discovery off Guyana is 'Significant'

Photo by ExxonMobil

 Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.     The discovery could put Guyana on oil and gas Map and the country could become a player

Tactical Response Vessel Delivered to NYPD

Photo: Gladding-Hearn Shipbuilding

Having delivered its third 61 ft. patrol/rescue boat for the New York City Police Department (NYPD) last year, Gladding-Hearn Shipbuilding, Duclos Corporation, announced it has delivered the first of two 70 ft. Tactical Response vessels for the department’s Harbor Patrol Unit.  

ExxonMobil Begins Production at Kizomba

FPSO Mondo Courtesy ExxonMobil

  Exxon Mobil Corporation announced today that its subsidiary, Esso Exploration Angola (Block 15) Limited (Esso Angola), has started oil production ahead of schedule at the Kizomba Satellites Phase 2 project offshore Angola. Kizomba Satellites Phase 2 is a Block 15 subsea infrastructure

Algoma Central Orders New Great Lakes Ships

Equinox Class ship Algoma Harvester entering harbour at Port Colborne (CNW Group/Algoma Central Corporation)

Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal   Algoma Central Corporation announced that it has acquired a 2009-built handy size self-unloading ocean class vessel, the Gypsum Integrity, from Gypsum Transportation Limited

Keppel's Independent Director Leong-Chee to retire

Independent Director Mr Tony Chew Leong-Chee

  Keppel Corporation Limited (Keppel Corporation) announced that Mr Tony Chew Leong-Chee, Non-Executive and Independent Director, will be retiring from the Board of Directors of Keppel Corporation on 1 May 2015. Mr Chew will concurrently cease to be Chairman of the Nominating Committee and

Seaspan Acquires 7th SAVER Boxship


  Seaspan Corporation announced today that it accepted delivery of a 10000 TEU containership, the MOL Beacon. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., is Seaspan's seventh 10000 TEU SAVER design containership and first delivery in 2015

Navios Acquisition Announces Fleet Update

Photo courtesy: Navios

Tanker vessel owner and operator Navios Maritime Acquisition Corporation announced the delivery and employment of one VLCC and one MR2 product tanker and the employment of one VLCC and two product tankers. VLCCs The Nave Synergy, a 2010 Japanese-built VLCC of 299,973 dwt

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