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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)


Costa Deliziosa Completes Her Technical Launch

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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


LQT Delivers Accommodation Facility and Helideck in Gulf of Mexico

LQT Industries , a full-service provider of accommodation facilities, design-build construction services, and support services to the oil and gas industry, has engineered and built a new series of aluminum accommodation buildings that will be utilized by a major oil and gas operator on a platform in the Gulf of Mexico. The buildings are 10’W x 35’L and weigh only 16,000 pounds. These newly built buildings


Seacontractors Milestone with Three Damen Workboats

Stan Tug 3011

Customized vessels demonstrate capabilities in demanding global markets. Seacontractors has expanded its workboat fleet with three new orders at Damen Shipyards Group, including the maritime services provider’s ninth vessel from the Shoalbuster range, a Damen Shoalbuster 3209. In addition, Seacontractors’ order for two Stan Tugs makes it the launching customer for the new 70-tonne bollard pull STu 3011 design


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


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


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.


WFW Advises ING Bank on $340m Loan Facility for Euronav

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Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV. The facility is comprised of a $192m term loan facility and a revolving credit facility of up to $148m


Crowley Transports Panama Canal Gate

Panama Canal Gate

  Crowley Maritime Corp.’s heavy lift barge 455 4 successfully delivered the first in a series of new gates for the ongoing Panama Canal expansion. Crowley is scheduled to help transport all eight of the gates involved in the Pacific side lock expansion of the Canal – a project


Freight Rate Peak Forecasted for 2016

Newport Shipping Group Chairman Harald Lone said, “Synchronized world economic growth is going to initiate higher demand for dry bulk carriers.”

The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment, with Newport Shipping Group predicting an improved tonnage balance over the next couple of years, resulting in a freight rate peak in the 2016/2017 period.


ClassNK Expands Veracruz Office

The 462 gt offshore support vessel Lluavi is one of the ships that transferred to ClassNK this year

  Leading classification society ClassNK has announced the expansion of its Veracruz Office in order to better support the growing offshore oil industry in the Gulf of Mexico. The expansion will increase the survey capabilities and management of the Veracruz office in response to growing


Bouchard Transportation in Expansion Mode

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Morton S. Bouchard III, President and CEO of Bouchard Transportation Co., Inc., today announced the next step in the company’s ongoing fleet expansion with the construction of two 6,000-hp ATB tugs. These newbuilds, the M/V Bouchard Boys and the M/V Evening Light


TUI Cruises Expands to Six Ships by 2017

Credit  - TUI Cruises

TUI AG and Royal Caribbean Cruises are substantiating their expansions plans for their joint venture TUI Cruises. The Mein Schiff fleet shall grow from now three to six ships and then 14,000 beds by 2017. TUI Cruises is strengthening its already sound and dynamic position in the German cruise


Newport Shipping Upbeat on Dry Bulk Segment

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Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009. According to the latest edition of Newport Shipping’s Dry Bulk Market Outlook


Dry Bulk Carrier Segment Revival Seen by Analyst

Frontispiece of report: Image courtesy of Newport Shipping

Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009, according to Newport Shipping’s 'Dry Bulk Market Outlook 2014 Q2'.


Scorpio Tankers on Major Fleet Expansion

Scorpio Tankers

  Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached an agreement with an unrelated third party to purchase an MR product tanker that is currently under construction at SPP Shipbuilding Co., Ltd. of South Korea ("SPP")


Topaz Secures $75m Investment from SCPE

Photo courtesy of Topaz

Topaz Energy and Marine, an offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico, has  announced a $75 million new equity investment in the business from Standard Chartered Private Equity


Standard Chartered Private Equity invests $ 75 mi in Topaz

The Topaz Installer performs windfarm support services in the North Sea

  Topaz Energy and Marine (“Topaz”), a leading offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico, today announced a US$75 million new equity investment in the business from


Thor Offshore to Implement BASSnet Suite

Thor Offshore vessel

Thor Offshore, an offshore support services provider and fisheries company, has chosen the integrated software suite BASSnet Fleet Management Systems as a part in its strategy to expand offshore operations globally. In parallel with Thor’s fleet expansion


StealthGas Announces Newbuilds, New Vessel Contracts

StealthGas Inc., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today as part of its fleet expansion program the acquisition of two newbuilding LPG vessels.


American Maritime Safety Award Recipients Announced

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American Maritime Safety, Inc., (AMS), announced today that Bouchard Transportation Company, Inc., Circle Line Sightseeing Cruises, General Dynamics/American Overseas Marine Corporation, Patriot Contract Services and U.S. Shipping Corporation would be the recipients of the 2014 AMS Maritime Safety


Ceremony Marks the Construction of 5 American Tankers

APT 1 Start of Construction Ceremony

  General Dynamics NASSCO and City of San Diego Mayor Kevin Faulconer today signaled the start of construction of five American Petroleum Tankers at a steel cutting ceremony for the first tanker, the APT-1, at the NASSCO shipyard in San Diego.






 
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