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
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'
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.
MAN Diesel SE recently held a small celebration at its works in Augsburg, Germany. The event marked the start of acceptance testing of the final engine of eight ordered by shipowner Harren & Partner of Bremen, Germany, for a series of eight 16,500 DWT oil products and chemicals tankers being built at the Chinese Jiangnan Shipyard. As well as representatives from the shipowners, delegates from investors in the ships also participated at the celebration.
ShipVertical Internet Group has signed an agreement to enter into partnership discussions with Marine Digital, the Korean-based global maritime marketplace for shipbuilding, ship cargo, ship bunkering, ship sale & purchase, and fishery markets. The agreement enables both parties, ShipVertical Internet Group and Marine Digital, to exchange products/service platforms on the web, to mutually benefit from each party's distribution network
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
Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China. The orders were taken by Danelec’s distributor Xiamen Huayi for ships under construction at a shipyard in Fujian
The American Waterways Operators, a 350-member trade association representing the U.S. tugboat, towboat and barge industry, announced today that it joined the SmartWay Transport Partnership, an innovative collaboration between the U.S. Environmental Protection Agency and stakeholders in the
Naval Sea Systems Command (NAVSEA) was recently announced as the winner of three fiscal year 2013 Department of Defense (DoD) Value Engineering Achievement Awards. Value engineering is DoD's effort to continually analyze defense organizations, facilities
On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic. More than 200 guests from shipowner North Sea Shipping, ship charterer Technip and supply chain partners
Palfinger Boats, Palfinger Ned-Deck and their partner Outreach Ltd. have secured a follow-up order from Sentinel Marine Ltd. The delivery of Sentinel Marine Ltd's fast rescue and aluminum daughter crafts order for four emergency response and rescue vessels (ERRVs)
KKR invests in growth companies servicing the global offshore energy sector, including investments in Acteon, RigNet, Avincis (Bond Aviation) and Weststar. OEG is headquartered in Aberdeen, UK with regional hubs in the main offshore oil and gas regions including Singapore, Australia
Houston- and New Orleans-based law firm Bland & Partners P.L.L.C. announced that Crain Wilson, P.L.L.C.’s Houston office merged with its firm as of July 1, 2014. The merger results in growth for the firm, including the addition of six attorneys and four legal support staff
Sound Oil, the Mediterranean focused upstream oil and gas company, announced the appointment with immediate effect of Marco Fumagalli as a Non Executive Director of the Company following the institutional investment announced on 25 April 2014.
The Chinese Ministry of Commerce (MOFCOM) yesterday announced that they have not approved the P3 Network (P3). P3 was a long-term operational vessel sharing agreement proposed by MSC, CMA CGM, and Maersk Line. The MOFCOM’s decision follows a review under China's merger control rules.
Regs4ships announced the launch of our 19th flag to its Digital Maritime Regulations (DMR) product. From July 18, 2014 Regs4ships will be able to offer a Luxembourg regulations product that contains all relevant flag state documentation along with digital copies of SOLAS, MARPOL and STCW
Teekay LNG Partners L.P. has announced that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units
Bolidt Synthetic Products & Systems has secured a contract as exclusive partner to Viking Ocean Cruises for the supply of decking and flooring. The contract covers Viking Star, the first vessel due for delivery in 2015 and its sister ship, Viking Sky, scheduled for delivery in 2016
Swedish oil firm Lundin Petroleum has confirmed the size of a significant oil discovery in the Arctic, the company said on Monday after completing a second well. The Gohta discovery in the Norwegian section of the Barents Sea is now estimated to contain between 111 and 232 million barrels Of oil
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business. Through the agreement, CSSC will own 70% of the business through its affiliate CSSC Investment
Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L. P. by purchasing all the shares of Peerless Industrial Group, Inc. The share transfer of Peerless shall be executed subject to