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Fleet Update News

02 Dec 2019

Grindrod Extends IVS Bulk JV

Singapore based shipowner and operator Grindrod Shipping announced a number of transactions relating to the extension of its IVS Bulk joint venture, implementation of a financing arrangement and a fleet update.Grindrod Shipping has extended the termination date of its IVS Bulk joint venture from September 30, 2019 to November 30, 2019."We continue to progress the transaction agreed in principle with the joint venture partners whereby the company would acquire an additional 33.25% stake from one of the partners with the other partner retaining its 33.25% stake, as well as the negotiations with lenders to refinance all of the existing debt of IVS Bulk and provide us sufficient capital to acquire the additional 33.25% stake.

06 Oct 2019

EMGS Increases Fleet Utilization

Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) said in its fleet update for the third quarter 2019 showed a fleet utilization of 73 percent,  compared with 29% for the third quarter in 2018. The marine EM market player said that its  vessels were allocated 73% to proprietary work and no time was spent on multi-client projects, in the third quarter of 2019.In the comparable quarter of 2018, the vessels were allocated 29% to multi-client projects and no time was spent on proprietary work.EMGS had two vessels on charter and recorded 6.0 vessel months in the quarter. In the third quarter 2018, the Company also had two vessels on charter.The Atlantic Guardian commenced a proprietary survey for Pemex in Mexico on 25 July 2019. This survey is still ongoing.

11 Nov 2018

Navios Maritime Containers Fleet Update

Navios Maritime Containers Inc. (Navios Containers) took delivery of Navios Miami, a 2009-built, 4,563 TEU containership in the last month.According to a press note from the growth vehicle dedicated to the container sector of the maritime industry the vessel was acquired for a purchase price of $13.9 million.The acquisition of the vessel was financed with cash on the balance sheet and a new $9.0 million term loan facility. The facility has an amortization profile of 7 years, matures in September 2023 and bears interest at LIBOR plus 300 bps per annum.Fleet capacity has grown from 21 to 26 vessels  totaling 124,101 TEU since the end of 2017, representing a fleet capacity growth of 40% during the period.The current average age of the fleet is 10.5 years.

31 Jul 2018

GoodBulk Announces Fleet Update

Bermuda-based owner and operator of dry bulk vessels GoodBulk entered into an agreement to sell the M/V Aquapride, a 2012 built Supramax vessel of 61,465 dwt built by Imabari, JPN at $20.0 million to Suisse Bulkers, an unrelated party.The vessel is expected to be delivered to its new owner between September and November 2018. The M/V Aquapride was acquired by GoodBulk, for a total consideration of $17.0 million and is expected to contribute net profit of approximately $2.3 million between being delivered into the Company’s fleet on 1 June 2017 and assuming delivery to the vessel’s new owners on 30 September 2018, resulting in a levered IRR of 51.0%.Separately…

06 Apr 2017

Navios Acquires Two Panamax Vessels

Navios Maritime Partners L.P. ("Navios Partners") (NYSE:NMM) an international owner and operator of drybulk and container vessels, announced today that it has agreed to acquire two panamax vessels, 2007 South Korean-built of about 75,000 dwt for a total of $27.0 million. The vessels are expected to be delivered to Navios Partners' owned fleet in June and July 2017. The two vessels are expected to generate approximately $4.6 million of annual EBITDA based on current rate environment (Clarkson’s 1-year timecharter rate for Panamaxes as of March 31, 2017), assuming operating expenses approximating current operating costs and 360 revenue days.

18 Mar 2015

Transocean Issues Monthly Fleet Update Summary

Transocean Ltd today issued a monthly Fleet Update Summary, which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since the February 17, 2015 Fleet Update Summary. The total value of new contracts since the last report is approximately $9 million. •             Sedco Express - Awarded a one-well contract extension offshore Nigeria at a dayrate of $300,000 ($9 million estimated backlog). •             Henry Goodrich is idle. •             Ultra-deepwater floaters Discoverer Spirit, GSF Jack Ryan, Deepwater Discovery, and Deepwater Pathfinder are stacked. The rigs were previously idle. •             Estimated 2015 planned out-of-service time decreased by a net 102 days, mainly associated with the Henry Goodrich.

08 Jan 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. The Nave Synergy, a 2010 Japanese-built VLCC of 299,973 dwt, was delivered to Navios Acquisition's owned fleet in December 2014. The vessel has been chartered out to a high quality counterparty for one year at a rate of $34,125 net per day. The vessel is expected to generate approximately $8.6 million of aggregate EBITDA during this charter…

25 Nov 2014

Navios Revenue Up 25% in 3Q 2014

Highlights of Navios Maritime Holdings Inc. IPO of Navios Maritime Midstream Partners L.P. Navios Maritime Holdings Inc. a global vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the third quarter of 2014, for which we reported EBITDA of $42.4 million, a 5% increase compared to the same period last year. As a result, we have announced a dividend of 6 cents for Q3 2014 representing a yield of about 4.2%. On September 17, 2014…

19 Nov 2014

Transocean's Fleet Update Summary

Transocean Ltd. issued a monthly Fleet Update Summary which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since October 15, 2014. The total value of new contracts since the October 15, 2014 Fleet Status Report is approximately $83 million. - Discoverer Enterprise - Awarded a one-well contract extension in the U.S. Gulf of Mexico at a dayrate of $399,000 ($32 million estimated backlog). The rig's prior dayrate was $615,000. - GSF Galaxy III - Awarded a four month contract as an accommodation unit in Denmark at a dayrate of $175,000 ($23 million estimated backlog). The rig's prior dayrate was $160,000.

22 Sep 2014

Transocean: Fleet Update Summary

Transocean Ltd. today issued a monthly fleet update summary which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since August 21, 2014. According to the update, the total value of Transocean’s new contracts since the August 21, 2014 fleet update summary is approximately $115 million. Transocean Honor  was awarded a one year contract extension in Angola at a dayrate of $194,000 ($71 million estimated backlog). The rig's prior dayrate was $155,000. Jack Bates was awarded a one-well contract in an undisclosed location at a dayrate of $440,000 ($26 million estimated backlog). The rig's prior dayrate was $380,000. M.G. Hulme, Jr.

05 Sep 2014

Songa Offshore: Latest Fleet Update

International midwater drilling contractor, Songa Offshore, operates a fleet of 4 rigs with an additional 4 rigs due to be delivered later this year and in 2015. Songa Delta achieved an operational efficiency of 100% and an earnings efficiency of 100% working for Statoil in Norway. Songa Trym achieved an operational efficiency of 100% and an earnings efficiency of 97% during the month working for Statoil in Norway. Songa Dee achieved an operational efficiency of 100% and an earnings efficiency of 98% for the operational part of the month. The rig arrived Invergordon in Scotland August 24 for a scheduled SPS (Special Perodic Survey). The rig will continue its contract with Statoil when the SPS is completed. Songa Venus is stacked in Labuan, Malaysia, where it pursues future work.

21 Aug 2014

Transocean Fleet Update Summary

Transocean Ltd. today issued a monthly fleet update summary which includes new contracts, changes to existing contracts and changes in estimated planned out-of-service time of 15 or more days since July 16, 2014. The total value of new contracts since the July 16, 2014 fleet status report is approximately $78 million. On July 28, 2014, the newbuild ultra-deepwater drillship, Deepwater Invictus, commenced operations on its three-year contract in the U.S. Gulf of Mexico at a dayrate of $595,000. Additionally, the newbuild ultra-deepwater drillship, Deepwater Asgard, commenced operations on its three-year contract on August 21, 2014 at a dayrate of $600,000. •Jack Bates - Awarded a two-well contract in Australia at a dayrate of $420,000 ($59 million estimated backlog).

13 Jun 2014

Transocean's Latest Fleet Update Summary

Transocean Ltd. has issued a monthly Fleet Update Summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since May 15, 2014. The high-specification jackup, GSF Magellan, is held for sale. Estimated 2014 planned out-of-service time decreased by a net five days; estimated 2015 planned out-of-service time increased by a net 29 days. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services…

09 Jun 2014

Songa Offshore: Fleet Disposition Update

Songa Dee achieved an operational efficiency of 100% and an earnings efficiency of 99% during the month working for Statoil in Norway. Songa Delta achieved an operational efficiency of 100% and an earnings efficiency of 100% working for Statoil in Norway. Songa Trym achieved an operational efficiency of 95% and an earnings efficiency of 94% during the month working for Statoil in Norway. The rig has been on rig move between two locations and the down time is related to in-between well maintenance prior to deployment of the BOP. Songa Venus achieved an operational efficiency of 100% and an earnings efficiency of 96% in the period 1 to 6 May 2014, working for Mubadala Petroleum in Malaysia.

02 Jun 2014

Scorpio Tankers Update on Finance, Vessel Deliveries

Scorpio Tankers Inc. gives details of its agreement to acquire some of its own common shares; to buy back stock; and also sets out a fleet update. Scorpio Tankers Inc. says it has entered into an agreement to purchase from an existing shareholder 7,500,000 common shares of the Company in exchange for the sale to the same shareholder of 3,422,665 common shares it currently owns in Dorian LPG Ltd  in a privately negotiated transaction. As a result of the disposal of the 3,422,665 Dorian shares, the Company will recognize a gain of approximately $11.0 million and its ownership in Dorian will be reduced to 9.4 million shares. This transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions and is expected to close in June 2014.

15 May 2014

Transocean Provides Fleet Update Summary

Photo: Transoceean

Transocean Ltd. today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts and changes in estimated planned out-of-service time of 15 or more days since April 17, 2014. The total value of new contracts since the April 17, 2014 Fleet Status Report is approximately $953 million, Transocean said. •Dhirubhai Deepwater KG1 - Awarded a three year contract offshore Brazil at a dayrate of $440,000 ($482 million estimated backlog). The rig's prior dayrate was $510,000. •Paul B. Loyd, Jr. - Awarded a two year contract extension in the U.K.

23 Apr 2014

Navios Time Charters Two Product Tankers

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced  that the Nave Equinox and the Nave Pulsar have been chartered out to an investment grade counterparty for one year at a rate of $14,813 net per day plus a $2,000 per day premium when vessels are trading in ice. The vessels are expected to generate approximately $6 million of aggregate base EBITDA for the period of this charter assuming operating expense approximating current operating costs. Fleet Update Navios Acquisition has contracted 88.8% and 45.1% of its available days on a charter-out basis for 2014 and 2015, respectively.

18 Mar 2014

Transocean Latest Offshore Drilling Rig Fleet Summary

Image courtesy of Transocean

Transocean Ltd. has issued its monthly Fleet Update Summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since February 18, 2014. The total value of new contracts since the February 18, 2014 Fleet Update Summary is approximately $14 million. GSF Galaxy III - Awarded an approximate two and one-half month contract extension for use as an accommodation unit in the U.K. sector of the North Sea at a dayrate of $180,000 ($14 million estimated backlog). The rig's prior dayrate was $226,000.

19 Feb 2014

Transocean Drilling Rig Fleet Update Summary

Transocean Rig: Photo courtesy of  the owners

Transocean Ltd. has issued a monthly Fleet Update Summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since January 16, 2014. The total value of new contracts since the January 16, 2014 Fleet Status Report is approximately $66 million. Estimated 2014 out-of-service time increased by a net 150 days, including 91 days primarily associated with customer-requested and substantially reimbursed upgrades on the GSF Galaxy I; and 45 days on the M.G.

21 Jan 2014

Navios Announces Panamax Vessel Delivery

Navios Maritime Partners L.P., an owner and operator of dry cargo vessels, has announced  that the Navios Sun, a 2005-built panamax vessel of 76,619 dwt, was delivered to Navios Partners' owned fleet on January 17, 2014. The Navios Sun has been chartered out to a high quality counterparty for 12-14 months at a rate of $13,063 net per day. The vessel is expected to generate approximately $3.3 million aggregate EBITDA for the period of this charter assuming current operating costs. Fleet Update Following the delivery of the Navios Sun, Navios Partners has all its vessels in the water. Navios Partners has contracted 70% of its available days on a charter-out basis for 2014.

17 Jan 2014

Latest Transocean Offshore Rig Status Report

Image courtesy of Transocean

Transocean's latest comprehensive Fleet Status Report provides the current status and contract information for the company's entire fleet of offshore drilling rigs. The total value of new contracts since the December 18, 2013 Fleet Update Summary is approximately $48 million. GSF Arctic III - Awarded a two-well contract in the U.K. sector of the North Sea at a dayrate of $410,000 ($48 million estimated backlog). The rig's prior dayrate was $339,000. Sedco Energy and Transocean Marianas, ultra-deepwater and deepwater floaters, respectively, are idle.

19 Dec 2013

Transocean's Latest Fleet Update Summary

Image courtesy of Transocean

Offshore contract drilling services provider Transocean Limited's monthly Fleet Update Summary includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since November 18, 2013. The total value of new contracts since the November 18, 2013 Fleet Update Summary is approximately US$292-million. Cajun Express - Awarded a six-well contract at a dayrate of $495,000 ($181 million estimated backlog). The rig's prior dayrate was $600,000.

17 Dec 2013

Navios Announces Delivery of Three Container Vessels

Navios Maritime Partners L.P., an owner and operator of dry cargo vessels, has announced  that the Hyundai Tokyo, the Hyundai Shanghai and the Hyundai Busan, all 2006-built container vessels of 6,800 TEU each, were delivered to Navios Partners' owned fleet on December 10, 13 and 16, 2013, respectively. Following the acquisition of these vessels, Navios Partners has taken delivery of a total of five container vessels of 6,800 TEU each and this completes the acquisition of the container vessels as previously announced. All five vessels have been chartered out to an investment grade counterparty for ten years (with Navios Partners' option to terminate after year seven), at a rate of $30,150 net per day per vessel.

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