Zamakona Yards has signed an agency agreement with the Stewart Group, owned by RS Platou&Clarksons, the shipyard announced. The agreement will see the Stewart Group will offer its customers Zamakona Yards repair and maintenance services both afloat and in our shipyards. The Stewart Group was founded in 1922 by Samuel Stewart and was purchased in 2008 by the Platou Group. Subsequently the Platou/Stewarts group has been purchased by Clarksons in 2015. It operates globally with major offices in Aberdeen, London, Accra, Cape Town, Singapore and Houston.
Scorpio Bulkers Inc. say it has increased the size of its public offering from the initially announced 15,500,000 common shares to 31,300,000 common shares for gross proceeds of $305,175,000. The Company has granted the underwriters a 30-day option to purchase up to 4,695,000 additional common shares, and they say they plan to use all of the net proceeds of this offering to fund newbuilding vessel capital expenditures.
Excess capacity in the global fleet of liquefied natural gas carriers will be at its highest this decade in 2008, as a growing worldwide fleet results in lower utilization rates, according to the Royal Gazette. Demand for LNG tankers has deteriorated markedly as a result of a large increase in fleet supply partly caused by speculative orders for new ships, industry analysts pointed out. Utilization of the LNG fleet will fall to 77
Crude Carriers Corp. announced that it has priced its initial public offering of 13,500,000 common shares at $19 per share. The underwriters have an option to purchase up to an additional 2,025,000 common shares to cover overallotments. Crude Carriers Corp. will use substantially all the proceeds from the offering, together with a $40m capital contribution from Crude Carriers Investments Corp., to acquire one 2006-built high specification Suezmax vessel from Capital Maritime & Trading
Braemar Shipping Services will buy fellow British shipbroker ACM Shipping Group in the latest industry shake-up as players look to grow after years of freight market turmoil. In the biggest deal to date, Braemar, whose businesses include ship broking, said on Tuesday it had agreed to acquire the entire share capital of ACM. "What this transaction is about is growing our shipbroking presence collectively," said Braemar chief executive James Kidwell.
Crude oil tanker earnings on the major Middle East route were steady this week, helped by light bookings although rates have yet to rebound after a recent surge late last month. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan <DFRT-ME-JAP> on Thursday reached W42.57 in the worldscale measure of freight rates, or $14,080 a day when translated into average earnings, the latest Baltic Exchange data showed.
Bloomberg reported that Neptune Orient Lines Ltd. and 11 of the largest shipping companies plying the Pacific Ocean said costs of moving cargo to the U.S. in 2006 will rise 7 percent on higher fuel prices, which may spur them to raise freight rates. The cost of transporting containers by trucks and railways will increase as much as 25 percent, the 12-line Transpacific Stabilization Agreement, whose members ship about 70 percent of trans-Pacific trade, said in a statement today.
Russian Maritime Register of Shipping (RS) will participate in Kormarine 2013 in Busan, Republic of Korea, one of the largest international exhibitions of maritime industry. On 22-25 October the foremost exhibition of the maritime industry in Asia will gather leaders of shipbuilding industry. RS will undertake a scaled-up participation in this event. The first RS office opened in Korea in 1996 was originally oriented to render its assistance to ships in service in the first place
By Jonathan Saul and Oleg Vukmanovic, Reuters Deliveries of new gas tankers have created a glut that is threatening to tip some operators into losses, just as other shipping markets emerge from their worst downturn in decades. The liquefied natural gas (LNG) tanker market was until recently the only bright spot in an otherwise depressed freight industry. A global surge in the demand for gas, led by Japan in 2011, boosted trade
Essar Ports Limited today announced its unaudited results for the full year and quarter ended March 2015. Key Highlights: · Essar Ports takes over the Vizag Iron Ore outer harbor terminal with 2 berths on 14th May 2015. Existing operational terminal with no gestation period. Refurbishment of terminal to happen alongside operations. Financial Performance for FY’15
Three of of Swiber Holdings vessels had been seized in an arrest moved by a syndicate of banks, reports Business Times. All three vessels were arrested at ASL Shipyard, the litigant in the arrest is United Overseas Bank (UOB), acting as security agent for the syndicate of banks that
Nearly 300 tonnes of oil spilled into the narrow strait separating Singapore and Malaysia after a collision between two container vessels, the Singapore Marine Port Authority (MPA) said on Wednesday. There were no reports of injuries and 12 anti-pollution craft had been sent to clean up
The Indian Ministry of Shipping, as a part of its ‘Green Port Initiative’ has been emphasizing on use of renewable sources of energy to power Major Ports across the nation. The Ministry aims to set up 91.50 MW of solar energy capacity at the twelve Major Ports and
The Shipping Corporation of India Ltd (SCI) has reported a net profit of Rs.7.25 crores for the financial quarter ended 31st December 2016 (Q3 FY16-17) as compared to a loss of Rs. 20 crores reported during the quarter ended 30th September 2016 (Q2 FY16-17)
The Ministry of Shipping, India has sanctioned Rs. 30 Crore ($4.37 mln) for capacity building and providing safety training of 20,000 workers engaged in ship recycling activities at Alang-Sosiya recycling yard in Gujarat.
The Shipping Ministry of India has announced the details of various ongoing major projects for development of National Waterways (NWs), which are as under four divisions. The government also revealed the techno–economic feasibility studies and Detailed Project Report
Based on the present traffic and cargo scenario of Major Ports, a Master Plan has been prepared for expansion of port capacity, which includes a number of new ports. Sagar Island (West Bengal): Public Investment Board (PIB) has appraised the project subject to the condition
Two Maritime Clusters have been identified in Gujarat and Tamil Nadu, as part of the National Perspective Plan of Sagarmala Programme. Based on the study conducted under Sagarmala Programme, these proposed Maritime Clusters will comprise of shipyards
Sagarmala Programme, an ambitious port-led infrastructure development programme of the government to harness India’s 7,500-km, is now moving from the conceptualization and planning to the implementation stage. The National Perspective Plan (NPP)
A new large dry dock is considered essential for future growth of Cochin Shipyard (CSL), says the ministry of shipping, India. This dry dock will enable CSL to construct LNG ships, Large Naval vessels like the proposed second Indigenous Aircraft Carrier, Merchant vessels
India's Minister of Shipping Nitin Gadkari has said that projects worth Rs. 1 Lakh Crore (USD 15 Bln) under Sagarmala programme are at various stages of implementation and development. He was speaking to the press at a ceremony to inaugurate the Sagarmala
Mumbai and Nhava Sheva Ship Agents Association (MANSA) has requested the Mumbai Port Trust to re-consider the proposed bank guarantee amount levied on vessels calling at the port. In a letter addressed to the Mumbai Port Trust, MANSA said
The first Polar Ship Certificate was issued by the Russian Maritime Register of Shipping (RS). The document was released by Murmansk Branch on 22 December, 2016 in the port of Murmansk to the tanker Shturman Albanov, owned by SCF Group. In connection with the Polar Code entering into force
Asia’s most populous democracies and emerging powers, have firmed up a blueprint for enhancing maritime cooperation and resolved to jointly combat terror. India and Indonesia enjoy a good maritime partnership. India has backed Indonesia on the latter’s escalating dispute
Russian Maritime Register of Shipping (RS) has completed the research on the preparation of proposals as regards procedures for the development of the Polar Water Operational Manual (PWOM) for the RS-classed ships, the Contractor being Admiral Makarov State University of Maritime and Inland