The Board of Golar LNG Ltd. has confirmed that it has now signed a newbuilding contract with the Korean shipbuilder DSME for one 145,000 m3 LNG newbuilding for delivery in end of 2005 / alternatively beginning of 2006. Included in the contract is an option for up to two more newbuildings with delivery in 2006/2007 to be declared at a later stage. Chairman John Fredriksen says in a comment: "The strong market recovery in the drybulk, container and tanker sectors has put pressure on yard capacity. In this situation it has been important for Golar to secure the future growth of our company. The combination of the attractive contract price, fixed earlier this year, and the additional option package makes this deal into a very favourable contract for Golar. It is Golar's intention to work with employment opportunities where the strategic value of Golar's four uncommitted newbuildings can be maximized as a package. Such deals can include time critical infrastructure projects like the Italian Livorno project or other LNG chain projects managed by major LNG receivers/producers. Until such projects can be realized the Board is prepared to trade the vessels in the spot / short-term market. The spot market presently represents in excess of 10% of all trades in the LNG market and is expected to grow significantly."
EXMAR has signed a newbuilding contract for 2 Very Large Gas Carriers at Daewoo Shipbuilding and Marine Engineering Co. of South Korea. The newbuildings will have a capacity of 84,000 m³ and the first vessel will be delivered in the 1st half of 2008. EXMAR currently controls a combined fleet of 60 gas carriers servicing the entire gas product range worldwide.
Aker Yards and the Estonian Tallink Group have signed a contract for the building of a fast passenger ferry for delivery in spring 2007, worth around 110 million euro. The contract includes an option for another similar vessel. The new ferry to be delivered from the yard in Helsinki is of a new and innovative design. She will start regular traffic between Helsinki and Tallinn and will be capable to cross the sea between the two cities in 1 hour and 50 minutes
Moody's Investors Service has confirmed the debt ratings of General Maritime Corporation, completing a review for possible downgrade that was initiated on March 29, 2004. The confirmed ratings include: $250 million senior unsecured notes due 2013, rated B1 Senior Implied rating of Ba3 Senior Unsecured Issuer rating of B1 The rating outlook is stable. General Maritime's ratings had been placed on review for possible downgrade following the announcement by the company of its proposed purchase
Keppel Offshore & Marine Ltd’s (Keppel O&M) specialized shipbuilding arm, Keppel Singmarine Pte Ltd (Keppel Singmarine) has clinched three newbuilding contracts totaling about $98.5m. The first contract was awarded to Keppel Singmarine by Dutch dredging and marine contractor, Royal Boskalis Westminster N.V. (Boskalis) for the construction of a 159-metre long rock dumping fall pipe vessel to be completed in late 2011.
Seaspan Corporation orders 4 newbuild 10,000 TEU container ships and, buys 4 second-hand 4,600 TEU ones. Seaspan has signed contracts for the construction of four 10,000 TEU class newbuilding containerships, at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. in China. The vessels are scheduled for delivery in 2014 and will be constructed using Seaspan's fuel efficient SAVER design
Stolt Tankers B.V., a subsidiary of Stolt-Nielsen S.A. (OsloBørs: SNI), announced on March 18 that it has cancelled a contract with SLS Shipbuilding Co. Ltd. of South Korea for the construction of a 44,000 dwt coated parcel tanker, the first in a series of four ships, citing extended delivery delays. The ship was originally scheduled for delivery in May 2008. All progress payments to date are covered by refund guarantees
Drydocks World - Southeast Asia Pte Limited, the Southeast Asian subsidiary of Drydocks World, announced that it has secured a newbuilding contract with Scottish Highlands International Inc., a subsidiary of Coastline Maritime Pte Ltd, to construct a 689-ft Ultra Large Multi-Purpose Offshore Construction Vessel. DDW-Sea operates four shipyards in Singapore and on Batam Island Indonesia providing offshore rig construction, volume shipbuilding and ship repair and conversion services
Star Bulk Carriers Corp. (NASDAQ: SBLK) announced that it has signed a contract with ship builder Hanjin to build a Capesize vessel of 180,000 deadweight tons, at a price of $53.5m with expected delivery in September 2011. The company has also entered into a ten year time charter agreement for the vessel with STX Panocean at a gross daily hire of $24,750. Star Bulk has also received offers for debt financing of up to 70% of the vessel's price at favorable financing cost/terms and expects to
International Transport Intermediaries Club (ITIC) says a recently concluded claim brought against a newbuilding supervisor helps illustrate the level of diligence which might realistically be expected of such a specialist service provider. In the latest issue of its Claims Review, ITIC cites the case of a newbuilding supervisor appointed by a technical management firm to oversee the building of a number of chemical carriers
StealthGas Inc., has increased the size of its stock offering, & will sell 10-million shares at $10 each using the proceeds towards purchase of 5 ships. The gross proceeds from the offering before the underwriting discount and other offering expenses are $100,000,000
Singapore’s Berge Bulk to sign a LOI for the constructions with CSSC Guangzhou Longxue Shipbuilding & CSIC Bohai Shipbuilding Heavy Industry. Singapore’s Berge Bulk is planning to place an order for up to eight very large ore carriers (VLOC) at China’s two state-owned
On Thursday, May 2, 2013, Reederei Hamburger Lloyd took command of the third of four 4,600 TEU Containership Newbuildings (hull No. H1025A) from CSSC Shanghai, Jiangnan Changxing Heavy Industry Co., Ltd. Another vessel of the same type (No. H1026A) is expected to follow in August this year
Jiangsu Province’s Economic and Information Technology Commission reviews Q1 2013 province-wide shipyard finances. The review of the shipbuilding industry’s performance showed that 44 privately-owned shipbuilders out of 66 failed to win new orders and none of major seven
Wärtsilä signed a five year maintenance agreement with Finnish ship owner, Viking Line. The agreement, which became effective from March 1, is for maintaining and servicing the recently launched 'Viking Grace', the largest passenger ferry ever to operate on liquefied
Greece-based Tsakos Energy Navigation Limited (TEN) fix 3-year charters for 5 Panamax LR1 product tankers with a major national end-user. These fixtures are expected to generate close to $80 million in gross revenues over the duration of their contracts
Euronav, report a trading loss of almost US$ 119-million after tax in year-ending 2012 report, expect oil transportation market to re-balance in 2013. Prospects for 2013 On the supply side, given the current state of the tanker market and the difficulty most owners face securing financing it is
During the past two years Drydocks World (DDW) has suffered from the restraints of a financial problem following the purchase of one shipyard in Singapore and one on the Indonesian island of Batam (both former Pan United shipyards) and two more on Batam (both former Leroy shipyards).
Tsakos Energy Navigation Limited a product, crude and LNG tanker operator, announced that on Friday, March 22, 2013, the Chief Executive Officer of the Company, Mr. Nikolas Tsakos as well as senior members of the company's management team and guests celebrated the Company's 20th Anniversary as a
Previously operated under the Liberian flag, the 7,100 TEU container ship has been re-registered with the EU-member nation. The Santa Cruz, which sails in the Europe South America East Coast liner service, is the first Hamburg Süd vessel to be entered in Luxembourg's shipping register
Navios Maritime Acquisition Corp. to acquire 5 MR2 Product Tankers wth options for two more. The company which owns and operates tanker vessels, announce that it agreed to acquire five MR2 product tankers for an aggregate purchase price of approximately $143.8 million.
Erma First ESK Engineering Solutions S.A. has concluded the installation of its Ballast Water Management System "Erma First" in two container ships being built at Zhejiang Ouhua Shipbuilding for Greek owner Evalend Shipping Co. S.A.
Vroon Offshore Services contracted by BP for emergency response and rescue vessel (ERRV) services on the UK continental shelf. Netherlands' Vroon say that these services will be undertaken by A- and B-Class field-support vessels and a platform-supply vessel
StealthGas Inc. announced an underwritten public offering of 8,000,000 shares of its common stock pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission. An entity controlled by the family of the Company's President and Chief Executive
International law firm Ince & Co. announced the imminent promotion of three lawyers to the partnership. Dubai Rania Tadros – Rania has experience in commercial arbitration and litigation within the shipping and energy and offshore markets