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Fleet Renewal

Dryship Fleet Renewal Continues

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.¡¨


Transpetro Signs Contract for Tankers

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)


DryShips adds Dry Bulk Carriers

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


Proposed Shipbuilding Centers of Excellence

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


China-built, CSL's Fourth New Laker Homeward Bound

Personnel Laker Baie Comeau

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 Secures $404m Charter Contracts

Photo courtesy of Otto Marine

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 Sells Vessels for $30m

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. Takes Delivery of the Handysize Free Goddess

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


Canada Launches Shipbuilding Consultation

SU2009-0523-24_web.jpg

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.


Matson Declares Q2 2014 Dividend

Image courtesy of Matson

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


Saam Smit Towage Bolsters Americas Fleet

SST Capilano (Photo: Saam Smit Towage)

Saam Smit Towage, a joint venture between SAAM S.A. and Royal Boskalis Westminster N.V. providing towage services in Mexico, Canada, Panama and Brazil, announced it has invested in fleet renewal in Canada and Panama. The company’s Canadian arm has taken delivery of newbuild tug SST


Algoma Signs JV with Nova Marine for Global Cement Carrier Fleet

Photo:  Algoma Central Corporation

 Canada-based Algoma Central Corporation has signed a joint venture (JV) agreement with Nova Marine Holding of Luxembourg to establish a fleet of cement carriers to supply infrastructure projects across the globe.   Algoma will own 50% of the joint venture


Iran Plans Listing NITC to Fund Fleet Modernization

Photo: NIOC

Iran plans to list its national tanker company to raise badly needed cash to upgrade its massive fleet and replace older vessels, as the middle east country prepares for an aggressive return to the global oil market.   The country emerged from years of economic isolation last weekend after


Corima Acquires Damen ASD 2810 Tug

Damen ASD 2810 Musone delivered to Corima Photo Damen

On 20 January 2016, Corima, part of the Italy-based Gesmar Group, held an official handover ceremony for a Damen ASD 2810 tug. The festivities were attended by invited guests that included representatives from Ancona’s port and city authorities.


Matson Increases Quarterly Dividend

Matson Increases quarterly dividend by 5.9 percent to $0.18 per share    The board of directors of Matson, Inc., a U.S. carrier in the Pacific, today declared a third quarter dividend of $0.18 per common share. The dividend represents a one-cent increase, or 5


COSCO Receives Fund for Fleet Renewal

Image: China COSCO Holdings Company Limited

 China COSCO Holdings Co Ltd says it has received ship scrapping subsidies for about 3.96 billion yuan ($638.71 million).    It came through China Ocean Shipping, the controlling shareholder of the company, for the decommissioning and upgrading of vessels.  


Bahri Goes to Hyundai Samho for Five More VLCCs

Image: National Shipping Company of Saudi Arabia (Bahri)

 Immediately after signing contract with signed with Hyundai Samho Heavy Industries to build five VLCCs, with an option to build additional five VLCCs, the National Shipping Company of Saudi Arabia (Bahri) signed a contract with Hyundai Samho Heavy Industries to build additional five VLCCs


Fincantieri, Finmeccanica Win Italian Navy LHD Contract

Photo Fincantieri - Cantieri Navali Italiani S.p.A.

  Fincantieri, one of the world’s largest shipbuilding groups and reference player in the naval shipbuilding industry, and Finmeccanica, Italy’s leading manufacturer in the high technology sector, have been awarded the contract for the construction and equipment of one


Fincantieri to Supply Four OPVs to the Bangladesh Coast Guard

Image: Fincantieri - Cantieri Navali Italiani S.p.A.

 Fincantieri has been awarded the contract with the Bangladesh Coast Guard (BCG) for the supply of four Italian Navy “Minerva” class corvettes to be upgraded and converted into Offshore Patrol Vessels (OPVs), and to provide the related logistics support services.   


Damen Tugs Renew Towmar Baltic UAB fleet

TAK 10 TAK 11

Towage operator Towmar Baltic UAB recently renewed its fleet with two new Damen ASD Tugs 2810.   The ship assistance and marine service company provides services to customers calling at the Port of Klaipeda (Lithuania) and the Port of Liepaja (Latvia) in the Baltic Sea region


Gondon Shipyard Expansion Underway

Photo: Gondan Shipyard

Spanish shipbuilder continues expansion and improvement process at several of its facilities targeting increased productivity Gondan Shipyard announced it has completed a new stage of improvement and expansion at its facilities in Figueras


Boskalis’ Fleet May Switch to Marine Biofuels

Bio-fuels today are not part of the marine fuel mix that operators and owners can choose from

  Boskalis today announced their collaboration with GoodFuels and Wärtsilä in a two-year pilot program to accelerate the development of truly sustainable, scalable and affordable marine bio-fuels. Bio-fuels today are not part of the marine fuel mix that operators and owners can


Great Lakes Sees New Investment Despite Cargo Slowdown

Equinox Class ship the Algoma Harvester entering Port Colborne harbour from Lake Erie (CNW Group/Algoma Central Corporation)

As ongoing commodity price pressures continued to impact overall tonnage volumes through the St. Lawrence Seaway in September, the shipping industry was buoyed by a number of investments in recent weeks by ship operators and ports, according to the Chamber of Marine Commerce


Small Dry, Big Value

Image: VesselsValue.com

VesselsValue’s new Small Dry module provides values for MPPs (and heavy-lift), single and tweendeckers, small handys and general cargo vessels. On the heels of its November 2015 launch, VesselsValue delves deeper into the sector’s nuances, premiums and discounts.  


New Tug for Saam Smit Towage in Canada

Saam Smit Towage Canada takes delivery of new built tug SST Capilano, to be added to the fleet of 21 tugs operated in British Columbia. The addition of this tug will further strengthen the fleet that Saam Smit Towage operates in British Columbia.  






 
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