Capital Product Partners L.P. announced that the deliveries of its eleventh and twelfth medium range (MR) product tankers, M/T "Apostolos" and M/T "Anemos I", from Hyundai Mipo Dockyard Ltd., a Korean shipyard, have been confirmed, ahead of the anticipated time of delivery, for September 20 and September 28, 2007, respectively. M/T "Apostolos" and M/T "Anemos I" are ice strengthened vessels (Ice Class 1A) and have carrying capacities of 47,782 dwt and 47,823 dwt, respectively. Both vessels are capable of carrying a range of refined oil products, chemicals (including ethanol and biodiesel feedstock), and crude oil worldwide. Both M/T "Apostolos" and M/T "Anemos I" have been fixed under time charters with Morgan Stanley Capital Group Inc. for three years at a base rate of $20,000 per day, subject to a profit sharing arrangement which allows each party to share, at a 50/50 percentage, additional revenues when spot rates are higher than the base rate. The purchase price for the two vessels of $56 million each will be fully funded through a drawdown on the existing revolving credit facility. The M/T "Apostolos" and M/T "Anemos I" are the third and fourth out of seven additional MR product tankers that Capital Product Partners L.P. has agreed to purchase from Capital Maritime & Trading Corp. The remaining three product tankers will be 51,000 dwt MR chemical/product tanker sister vessels that are scheduled for delivery in January, June
Capital Product Partners L.P. (CPLP) has announced the chartering of the M/T Avax to BP Shipping. The M/T Avax (47,834 dwt, IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) was chartered in October 2013 to BP Shipping for a minimum charter term of one year (+/- 30 days). BP Shipping has the option to extend the charter for an additional 12 months at a gross day rate of $15,600 per day.
Capital Product Partners L.P. (CPLP) attribute fourth quarter 2012 net loss to a US$43.2-million impairment charge. CPLP an international owner of modern tanker, dry bulk and container vessels has released its financial results for the fourth quarter ended December 31, 2012. The Partnership's net loss for the quarter ended December 31, 2012, was $35.0 million, including an impairment charge of $43.2 million, which is a non cash item
A U.S. energy company has found a second buyer in Japan for its condensate, an ultra-light oil, paving the way for more excess barrels from the United States to head to Asia to meet growing demand. Enterprise Product Partners has signed a short-term contract to sell condensate to Japanese trading company Mitsubishi Corp, less than two weeks after it sold its first cargo to Japanese firm Mitsui Corp, four Asia-based sources said.
Capital Product Partners L.P. (CPLP) announced the appointment of Petros Christodoulou as Chief Executive Officer and Chief Financial Officer. His appointment will be effective beginning September 1, 2014. Christodoulou will succeed Ioannis Lazaridis, who has served as the Chief Executive Officer and Chief Financial Officer since the Partnership’s formation in January 2007 and as Chief Financial Officer of Capital Maritime & Trading Corp. (Capital Maritime), since 2004
Oiltanking Partners, L.P. says it has expanded its terminal agreement with Enterprise Products Partners, L.P. to further increase exports of liquefied petroleum gas (LPG) at the Partnership's terminal on the Houston Ship Channel. With an expected completion date of year-end 2015, the expanded LPG export terminal will have total loading capacity in excess of 16 million barrels per month of low-ethane propane and/or butane.
Joint 14,000 teu boxship LNG as fuel project will be ‘cornerstone’ of a broad sustainability strategy supported by LR Capital Ship Management Corporation is prioritizing a business strategy inspired by, and applying, the key principles and goals of the International Maritime Organization’s (IMO’s) Strategy for Sustainable Maritime Transport Systems. Capital is incorporating key 'imperatives' and 'goals'
The U.S. Commerce Department has taken a small step toward resolving some two-dozen pending requests to export lightly processed oil this summer, asking energy companies to fill out a one-page questionnaire about their plans, sources familiar with the document told Reuters. The nine questions may help the department map out a further easing of the four-decade old ban on crude exports. In August, the Commerce Department's Bureau of Industry and Security (BIS) sent a standard set of nine
General Dynamics NASSCO began construction of the second ship of its new class of product carriers. The shipyard is scheduled to lay the ship’s keel in June and deliver the ship to U.S. Shipping Partners in the second quarter of 2009. In August 2006, NASSCO received a $1b contract from U.S. Shipping Partners to build nine ships. The ships will be double-hulled, 600.4 ft. in length and displace 49,000 dead weight tons
Abu Dhabi - To further meet the requirements of global vertical markets, Thuraya has recently signed a Service Partner agreement with Telespazio VEGA United Kingdom, a subsidiary of Telespazio SpA, a Finmeccanica-Thales company. Through this partnership, Telespazio VEGA will distribute Thuraya’s integrated portfolio of satellite communications products, which includes Thuraya IP, a compact satellite broadband solution supporting 384 streaming
Olaf Wiertz, Sales Director at Schmiedag GmbH (SDG) and Wildauer Schmiedewerke GmbH & Co. KG (WSW) said: “We are more than just a supplier to our customers – we are their partner. Our engagement and our qualification in the developments of customer oriented solutions serve
The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen, the head of U.S. forces in the region said on Thursday.
Russian Deputy Prime Minister Dmitry Rogozin came down heavily on country's shipbuilders criticizing them for doing a poor job to implement instructions from the president and prime minister regarding wider production of civilian ships at domestic shipyards.
19 ships laden with petrol and other commodities are discharging at the Lagos ports, says Nigerian Ports Authority (NPA) in its daily publication `Shipping Position’. Three of the ships were laden with petrol, while the others had diesel, steel products, containers, bulk salt
Bureau Veritas has been awarded by the Ministry of Industry and Commerce of the Republic of Zimbabwe with the Consignment Based Conformity Assessment (CBCA) contract. This conformity and valuation programme intends to: - Reduce hazardous and substandard imported products to Zimbabwe
Torqeedo has updated its electric outboards with a new design to meet the demands of commercial users. Available in comes in 5 hp and 8 hp equivalents, the Cruise is an electric solution for pontoon boats, sailboats, small boats, workboats
GAC Singapore announced today it will provide Thorco Shipping with agency services for its vessels calling at Singapore, including the loading and discharging of break-bulk and heavy lift cargoes at Jurong port. The Copenhagen-based Thorco operates a fleet of more than 80
A new technology research programme aimed at developing propulsion products specifically for operating in arctic conditions has been implemented with Wärtsilä and VTT, the Technical Research Centre of Finland, as the main contributors
SHIPPINGInsight 2015 to take place October 13-14 in Stamford, Conn. The annual technical symposium, exhibition and networking event for maritime industry professionals in North America, SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition, will take place Oct
Intellian, a global provider of stabilized marine satellite antenna systems, is partnering with Kymeta corporation to commercialize next generation Ku-band maritime satellite terminals. Intellian announced the partnership today at the SATELLITE 2015 conference in Washington, D.C.
SpeedCast International Limited has established a distributor agreement with Thuraya Telecommunications Company, a Mobile Satellite Services (MSS) operator. The new agreement brings new options for satellite mobility solutions for SpeedCast’s global customer base and expands
To help customers around the world better understand the health of their equipment and optimize machine availability, Caterpillar Inc.today announced it has entered into a technology and predictive analytics agreement with Uptake, provider of a dynamic analytics and insight platform for a
INTERSCHALT maritime systems AG, the provider of maritime software, services and supplier of Voyage Data Recorders (VDR 4G[e] and s-VDR) has expanded its network of service partners in Africa and Asia with the addition of two new distributors in Nigeria and Korea.
German KVM company Guntermann & Drunck GmbH (G&D) announced it will distribute its equipment from new U.S. subsidiary G&D North America Inc. in Miami, Fla. With the founding of its new subsidiary, G&D said it aims to increase its presence in the North American
Merger positions combined company to play a dominant role in recapitalization of North Pacific fishing fleet and emerging Arctic oil gas operations. Kvichak Marine Industries and Vigor Industrial today announced the companies are merging to unite their strengths in the design and fabrication of