DryShips, Inc., announced that tThe company has entered into an agreement to purchase a 2001 built, 172,579 dwt Capesize bulk carrier, for $152.25 million. It will be delivered, charter free, during the second quarter of 2008. ƒnThe Company also entered into an agreement to sell the 1993 built, 149,475 dwt Capesize bulk carrier, MV Netadola for $93.9 million. Delivery to the new owners will take place during the first quarter of 2008. Once the sale is concluded the company expects to realize a gain of approximately $62.2 million. ¡§We are pleased to continue with our strategy of fleet renewal. The replacement of MV Nedatola, a 14 year old smaller Capesize vessel, with a six year old modern Capesize dry bulk carrier, enhances our earnings potential and the longevity of our cash flow,¡¨ said George Economou, Chairman and CEO of DryShips Inc. ¡§We continue to take full advantage of the strong fundamentals of the dry bulk industry with our modern fleet.¡¨
According to a report from Business News America, Transpetro, the transport arm of Brazil's federal energy company Petrobras (NYSE: PBR), has signed a contract with the Eisa shipyard for the construction of four Panamax oil tankers. The $349m deal is part of Transpetro's fleet renewal program. (Source: Business News America)
Greek shipping company DryShips Inc., which specializes in dry bulk carriers, has sold a pair of older ships and added two newer vessels to its fleet. The company sold its 24-year-old Panamax bulk carrier MV Striggla for $12.1 million and its 17-year-old Panamax bulk carrier MV Daytona for $25.3 million. DryShips expects to book a combined gain of about $15 million from the divestitures. Meanwhile, the company bought a 10-year-old Capesize bulk carrier, MV Cape Venture, for $62 million
Davie Yards Inc. (TSX:DAV) introduced its proposal for the implementation of a National Shipbuilding Procurement Strategy aimed at renewing the federal fleet and building world-class shipbuilding capability in Canada, while providing more predictable work for the maritime industry. "Davie's proposal is based on our belief that Canadian yards can achieve a competitive position vis-à-vis European yards in building complex ships
The last of Canada Steamship Lines’ (CSL) four newbuild Trillium Class self-unloading Lakers, the 'Baie Comeau', set sail June 30, on her maiden voyage from Chengxi Shipyard in Jiangyin, China, en route to Montreal, Quebec, for service on the Great Lakes & St. Lawrence Seaway. Commanding the Baie Comeau as she crosses the Pacific Ocean and transits through the Panama Canal is Captain Andriy Bondarenko, with Chief Engineer Francis Cotton
Otto Marine Limited, an offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, informed that the group has secured charter contracts worth approximately $404 million in the first half of 2014 (1H2014). Backed by long term relationships with leading oil and gas companies, Otto Marine said it holds an orderbook that stood at approximately $450 million as at June 30, 2014
Green Reefers agreed to sell the M/V Green Tundra, Green Summer, Green Spring and Green Winter for $30 million. The vessels, built in 1986, 1988, 1989 and 1989 respectively are each of about 270,000 cu. ft. The vessels will be sold to a Norwegian single purpose entity initiated by Platou Finans. Green Reefers will participate in the new owning company with a shareholding of 25%. The vessels will be bareboat chartered back to Green Reefers for periods of 2-8 months.
FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ), a provider of seaborne transportation for drybulk cargoes, announced that it has taken delivery of the 1995-built, 22,051 dwt Handysize M/V Free Goddess on October 30, 2007. The vessel then began a time charter at $13,000 per day, which is expected to last approximately one month. The vessel will thereafter begin a two-year time charter at $19,250 per day. Mr
July 27 marked the opening of the Government of Canada's Shipbuilding Consultation, which seeks input from key stakeholders on comprehensive and viable options for a long-term, sustainable Canadian shipbuilding strategy. The Government is committed to building and maintaining an effective federal fleet of ships for maritime security and services. Fleet renewal plans could see the Government invest in excess of $40 billion to build more than 50 large vessels over the next 30 years.
Leading US carriers in the Pacific, Matson, Inc., apprises it has declared a second quarter 2014 dividend of $0.16 per common share. "Today's authorization continues Matson's outstanding history of paying dividends and reflects the solid financial foundation of our Company and the confidence we hold in its future," said Matt Cox, Matson's President and Chief Executive Officer. "With our strong balance sheet and operating cash flow generation
Golden Ocean Group Limited has entered into several agreements concerning its fleet. Golden Ocean has agreed with Ship Finance International Ltd ("Ship Finance") a sale leaseback transaction of eight Capesize vessels currently owned by Golden Ocean.
Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today. The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia
Oil services firm Subsea 7 plans to cuts its workforce by close to 20 percent and reduce its fleet of 39 by up to 11 vessels as global oil and gas firms continue to cut spending after the plunge in crude oil prices. Subsea 7, which focuses on the North Sea but has a global operation
Italian shipbuilder Fincantieri has fallen to a loss in the first quarter as financial costs rose. Fincantieri ended the first quarter of 2015 with Euro1.11 billion consolidated turnover and an EBITDA equal to Euro59 million. This equated to a loss of Euro27 million
The Great Lakes Towing Company has hired two new employees within its Great Lakes marine operations group. Lindsay R. Dew has been named Director of Operations & Compliance, and Mark W. Delventhal has been named Director of Technical Services & Business Development – both
Evergreen Group signed time charter agreements with Shoei Kisen Kaisha, Ltd. (Shoei) to charter a total of 11 18,000 TEU vessels, which include the six units of the same capacity announced by Evergreen Marine Corp. (EMC) and its subsidiary last December
Star Bulk Carriers Corp. has entered into an agreement to sell for demolition the M/V Star Tatianna (ex Fortezza), a 69,600 dwt Panamax vessel built in 1993, to an unaffiliated third party. Star Bulk expects to deliver the vessel to the buyers by early February 2015.
Unfazed by the tough market conditions that the shipping industry is faced with, Malaysian Bulk Carriers Bhd (Maybulk) said it will move forward with fleet renewal activities. Maybulk is building five new ships to expand its fleet size to 27 vessels by 2018
Maersk Line has reported a profit of $2.3bn for 2014 a 50% increase over the previous year, and expects a higher result in 2015, though the shipping rates remain under pressure. But 2015 is expected to yield less impressive results due to falling oil prices
Our Shipyard Zamakona Pasaia, had recently dry-docked the modern general cargo vessel ABIS BELFAST belonging to the Dutch company Abis. The vessel with 89.95 meters length by 14 meters beam has made several repairs and general maintenance of mechanical
The U.S. and Canadian Seaway Corporations marked the opening of the Seaway's 57th navigation season today, with the transit of the newly-built CWB Marquis through the St. Lambert Lock. The vessel is the first of two Equinox-class lakers ordered by Winnipeg-based grain marketer CWB
Evergreen Group today held the naming ceremony for Ever Lyric, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place at CSBC's Kaohsiung shipyard and was officiated by Raymond Lin, Evergreen Group's Vice Group Chairman
China Cosco Holdings has scrapped 14 vessels between February 1 and March 31 this year, continuing progress with its ambitious fleet renewal plan. The 14 ships comprised of one container vessel and 13 dry bulk carriers, which have a combined capacity of 924,700 dwt.
Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place at CSBC's Kaohsiung shipyard and was officiated by Mr. Raymond Lin, Evergreen Group's Vice Group Chairman
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