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.
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
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
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
American Eagle Tankers (AET), a subsidiary of Malaysian shipping line MISC Bhd, said that it will acquire all the remaining shares of Paramount Tankers, making the latter its wholly owned subsidiary. AET will acquire Golden Energy Tanker Holdings’ 50% stake in Paramount Tankers
Inmarsat (LSE:ISAT.L), and Cobham SATCOM today announced that their partner Beijing Marine Communication & Navigation Company Ltd. (MCN) has won the largest Inmarsat Fleet Xpress installation project to date, with Nanjing Tanker Corporation of China
Satlink Satellite Communications Ltd, a satellite communication and technical services provider, announced that it has become an Inmarsat Partner for Fleet Xpress and FleetBroadband. As part of the partnership Satlink’s solutions will be integrated with Inmarsat’s Fleet Xpress service
Dassault Systèmes Congratulated DCNS and Australian Government on the historic naval Defense Collaboration France-based DCNS has been selected by the Commonwealth of Australia as its
Drew Marine, a provider of technical solutions and services for the maritime, defense and aviation industries, announced its acquisition of NAL Research Corporation, a designer and manufacturer of Iridium tracking and communications equipment
The U.S. trade deficit widened more than expected in January as a strong dollar and weak global demand helped to push exports to a more than five-and-a-half-year low, suggesting trade will continue to weigh on economic growth in the first quarter.
Danelec Marine has opened a new European distribution center in Copenhagen. Managed by GEODIS, a global supply chain command company, the distribution center will carry a full range of Danelec Marine products and parts, including ECDIS
Fairbanks Morse Engine (FME) announced it has been named the 2015 Lockheed Martin Missions Systems and Training Supplier of the year for Ship and Aviation Systems during its annual Supplier Summit, held in Palm Beach Gardens, Fla. on March 10, 2016.
Five Asia cruise destinations – Hainan, Hong Kong, The Philippines, Taiwan and Xiamen–jointly announced the launch of Asia Cruise Cooperation (ACC), a committed and resourceful alliance with a strong commitment to maximize the growth of cruise tourism in Asia.
The 2015 financial year saw VIKING Life-Saving Equipment A/S continue its unbroken, 12-year run of revenue and profit increases. Revenues were up nine percent at DKK 1.891 billion, while profits before tax also grew nine percent to reach DKK 200.5 million
Henrique Machado Rabelo, who has for some time already been responsible for commercial and institutional contacts and will now be focusing on the latter, was recently joined by Ricardo Sproesser, who will manage and develop the commercial contacts
China's trade with North Korea rose in the first quarter in spite of tough new international sanctions this year targeting Pyongyang's banned nuclear program, including curbs on coal imports. Imports from the isolated country, consisting mainly of coal and clothes, rose 10
Aberdeen-based subsea cable and connector specialist Hydro Group, has expanded its premises by investing £2 million in a new 13,700 sq ft bespoke facility, set to open in spring 2016. The company currently occupies a 45,500 sq ft facility at the Aberdeen Energy Park
Largest contract to date for Inmarsat’s Fleet Xpress paves the way for ‘smart shipping’ for Nanjing Tanker Corporation, with installation of Cobham’s SAILOR 60 GX and SAILOR 100 GX antenna systems across 70 ships
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