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Fleet Expansion

Boskalis Orders Two Trailing Suction Hopper Dredgers

Dredging concern Royal Boskalis Westminster nv has placed an order with shipyard IHC Holland for the construction of two innovative 12,000m³ hoppers. The order is part of the multi-year fleet expansion program at Boskalis. The ships will be completed in December 2009 and April 2011. The order involves an investment of more than € 200 million. The new ships stand out because of the use of innovative technologies, strengthening the Boskalis market position in the segment for ‘large trailing suction hopper dredgers’. They will have two separate hoppers, allowing for the optimal use of their capacity in all circumstances, including shallow waters. In addition, the pumping capacity on the vessels is high, allowing them to pump large volumes over longer distances. This means that they can be used in a wide range of projects throughout the world, for both large-scale land reclamation and the construction of ports and waterways. Boskalis has a modern fleet with trend-setting ships, a broad geographical spread, and activities in all market segments. The company has a multi-year fleet expansion program that will strengthen its position on a global market that is growing rapidly. The program involves a total investment of approximately € 850 million and includes the construction of four hoppers with capacities varying from 5,600m³ to 12,000m³, the lengthening of the Queen of the Netherlands into a mega hopper of 35,500m³ and the construction of jumbo cutter Phoenix


Nordic American Tankers Ltd. - Declaration of Dividend

Nordic American Tankers Ltd. announced that its Board of Directors has declared a dividend of $0.16 for the first quarter of 2013, the same as for the 4th quarter of 2012.   The level of the declared dividend should be seen in the context of planned fleet expansion. Expansion is essentially the same as investing in the future. However, also yield is a priority as demonstrated by this payment of dividend for the 63rd consecutive quarter since the autumn of 1997.


Bocimar Set for Fleet Expansion

CMB confirms that its subsidiary Bocimar International has sold its Handymax vessel CMB Talent (2001 – 52,403 dwt). The vessel is sold time charter attached, expiring at the end of 2008. The net sale price amounts to USD 53 million. At the time of delivery of the vessel, scheduled to take place at the end of November 2007, a capital gain of approximately $36m will be realized. Further, Bocimar has ordered 10 Handysize bulk vessels (33,500 dwt) from Samjin Corporation (Korea)


Stelmar Announces Time Charter Contract

Stelmar Shipping Ltd. announced that it has renewed the Rimar, a 1998 double hull product tanker, on a six-month time charter contract for $13,500 per day. Peter R. Goodfellow, Chief Executive Officer and President commented, "In 2002, we have signed or renewed profitable time contracts for all seven tankers that have come off contract. We have also been able to sign new profitable time charter contracts for another two tankers that had been operating in the spot market


Star Bulk Acquires Bulk Carrier

Star Bulk Carriers Corp. has entered into a definitive agreement to acquire a Capesize bulk carrier of approx. 180,000 dwt, built in 1991 in Japan, for approximately $83.7 million from Japanese interests. The vessel will be financed through a combination of company cash and bank debt. The vessel to be renamed the M/V Star Sigma, is scheduled to be delivered to Star Bulk within April/May 2008. It comes with a one-year time charter back to its present owners which will commence on the day of


Costa Deliziosa Completes Her Technical Launch

Costa-Luminosa_Costa-Delizi.jpg

Costa Cruises, Italian tourism group and European cruise company, and Fincantieri celebrated the technical launch of the Costa Deliziosa at the Marghera yards: the first time the ship touched the sea flooding the dry-dock where she is under construction. The Costa Deliziosa, the 15th ship of Costa’s fleet with a total tonnage of 92,700 and a capacity of 2,828 passengers, is scheduled to be delivered at the end of January 2010, after completing the interior fitting out operations


Globus Maritime Ltd. Announces 3Q Results

Globus Maritime Limited (AIM:GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk ocean-going vessels, has announced its trading update and financial highlights for the three months and nine months ended September 30, 2007. The company's fiscal year ends on December 31st. Globus Maritime Limited began operations on September 15, 2006. In June 2007 Globus successfully raised $50m by way of a placing and its shares were admitted to AIM


HUAL AS Honored by GM

HUAL AS was named as a General Motors Supplier of the Year for its overall business performance in providing GM with parts and services. The award was given during ceremonies Saturday, April 3 in Prague at the Hilton Prague Hotel's Congress Hall. "HUAL is representative of the type of company we want to grow with as we drive to be the best worldwide," said Bo Andersson, vice president, GM Worldwide Purchasing Production Control & Logistics


Hapag-Lloyd Orders Two Ships

Hapag-Lloyd ordered two 8,600 TEU containerships from the South Korean shipyard Hyundai Heavy Industries for delivery in spring and autumn 2007. The newbuildings will have a length of 335m, width of 43m and draught of 14.50m and be able to carry 8,600 standard containers (TEU). They will have a speed of 25 knots. It is planned to deploy the vessels between Europe and the Far East. Hapag-Lloyd released no details on the construction costs.


BIMCO Reflections 2014

BIMCO President John Denholm

BIMCO has published its Reflections 2014, a short and accessible analysis including its clear views on the critical issues faced by the shipping industry today and in the coming years. Not least, the steady improvement of the global economy is bettering the outlook for shipping, as demand goes up and fleet expansion growth cools off, the market fundamentals are expected to improve across the board. Windows of sustainable earnings are likely to occur more often going forward.


Topaz Reports NMEL Results

2013 revenue up 22% over last year to $376.5 million as a result of the expansion of the core vessel fleet and high vessel utilization Topaz Energy and Marine, an offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd


First Twin Axe Delivery for Njord Offshore

Photo: Damen

Njord Offshore from Essex, U.K., have taken delivery of their first 26m Twin Axe built by Damen Shipyards Group. The vessel was ordered early January 2014, and the delivery took place on February 27. During this seven-week period, the vessel was modified from a basic


Epic Gas Secures Tankship Fleet Expansion Credit

Image courtesy of Epic Gas

CITIC Maritime Finance says it has provided a $46.4 million senior secured credit facility to Epic Gas Ltd. headquartered in Singapore, which operates a fleet of  40 LPG and petrochemicals tankships. CITIC add that the facility was used to partially finance the acquisition of a fleet


OSC Plans Fleet Expansion through 2018

Photo: OSC

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.


Paragon Takes New Vessel Delivery, Finances Two Other Builds

Paragon Shipping Inc. a global shipping transportation company specializing in drybulk cargoes, announced today that it has taken delivery of M/V Proud Seas, a 37,227 dwt Handysize vessel, from Zhejiang Ouhua Shipbuilding Co. in China. In addition


New Sail Training Vessel for Royal Navy of Oman

Image: Damen

The new Sail Training Vessel (STV) for the Ministry of Defense of Oman has been officially launched at Damen Shipyards Galati in Romania. This 87 m vessel, named RNOV Shabab Oman, is destined to become the flagship of the Royal Navy of Oman to continue the role of the current STV of the same


Ireland's Ardmore Continues Tankship Fleet Expansion

Newbuilding: Photo courtesy of Ardmore

Ardmore Shipping Corporation says it has taken delivery of the newbuilding product & chemical tanker 'Ardmore Seavantage' and also of the 2006-built 'Ardmore Seamariner' as it continues its fleet expansion programme. Cork, Ireland-based Ardmore informs it has taken delivery of the Ardmore


Noble Reports 2013 Results

Noble Don Taylor

Noble Corporation has reported fourth quarter 2013 net income of $174 million, or $0.68 per diluted share. Results for the fourth quarter included an after tax charge of $36 million, or $0.14 per diluted share, relating to an impairment taken on the FPSO Seillean


Stolt-Nielsen Reports Improved Fourth Quarter

Photo: Stolt Tankers

Stolt-Nielsen Limited has reported unaudited results for the fourth quarter ended November 30, 2013. Net profit attributable to SNL shareholders in the fourth quarter was $36.7 million, with revenue of $524.5 million, compared with $21.8 million, with revenue of $521


Damen Delivers Second Twin Axe FCS 2610 to Sure Wind

Photo: Damen

British company Sure Wind Marine Ltd. has taken delivery of its second Damen Twin Axe Fast Crew Supplier – the Sure Swift - in a little over a month after the first joined the company’s fleet. Established in 2009, Sure Wind is a specialist in the German offshore wind market and now


Heilmann Takes Over for Retiring Matson Senior VP

Peter Heilmann

Matson, Inc., a U.S. carrier in the Pacific, announced today that Kevin O'Rourke, senior vice president and chief legal officer, is retiring after 21 years with Matson.  O'Rourke will be succeeded by Peter Heilmann, who has been promoted to senior vice president and chief legal officer


China's Civilian Fleet a Potent Force in Disputed Seas

Photo: Reuters

By Megha Rajagopalan and Greg Torode, Reuters From harassing Filipino fishing boats and monitoring oil exploration off Vietnam to playing cat-and-mouse with the Japanese coastguard, China's expanding fleet of civilian patrol vessels have become the enforcers in disputed Asian waters.


China's civilian fleet a potent force in Asia's disputed seas

From harassing Filipino fishing boats and monitoring oil exploration off Vietnam to playing cat-and-mouse with the Japanese coastguard, China's expanding fleet of civilian patrol vessels have become the enforcers in disputed Asian waters.


China Shipyards Benefit from Lomar Fleet Expansion

Image courtesy of Lomar

Lomar informs it has declared a further three options to build new container vessels at Chinese shipyards, which brings the total number of newbuilding orders in hand to over 20 ships. The company has declared its final two options in a total order for six 1


New Stainless Steel Chemical Tanker Platform

Principal Maritime Management LLC of Southport, Connecticut, a shipping company owned by affiliates of Apollo Global Management LLC, has formed a new platform in the stainless steel chemical shipping sector. Additionally, Princimar Chemical Carriers has acquired its initial three stainless steel


 
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