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Rs Platou

Zamakona Inks Agency Deal with Stewart Group

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 Raise Scope of IPO

Image courtesy of Scorpio Bulkers

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.


Analysts: Demand for LNG Tankers Decreasing

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 Carries Pricing, Initial Public Offering

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


Mideast Crude Tanker Rates Struggle in Ship Glut

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.


Braemar to Buy Shipbroker peer ACM; M&A Activity Heats Up

Braemar chief executive James Kidwell.

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.


Shipping Lines Estimate Costs to Rise

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.


Ship Glut Burdens LNG Tanker Market, Slashes Profits

LNG carrier rendering courtesy of MOL

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


RS Exhibits at Kormarine 2013

Pavel Shikhov

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


Essar Ports Profit Jumps 15%

  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


JNPT Rolls Out Holding Yard Operations in 6 Hectare Land

Jawaharlal Nehru Port Container Terminal. Photo by Jawaharlal Nehru Port Trust

 Jawaharlal Nehru Port Trust (JNPT), India’s No.1 container port, has commenced holding yard operations in a six-hectare land at the Jawaharlal Nehru Port Container Terminal (JNPCT). approach roads to further ease out congestion and streamline the traffic to the terminal.   


Star Bulk Announces $51.5M Offering Common Stock

Courtesy Star Bulk Carriers Corp.

Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced it plans to make an underwritten public offering for $51.5 million gross proceeds of its common stock. The Company intends to use the net proceeds from the offering for general corporate


India's Shipping Sector to Boost Economy of Coastal States

Union Minister for Shipping, Highways and Surface Transport  Nitin Gadkari discus with Rajive Kumar Secretary, Ministry of Shipping. Photo: PIB Mumbai

 The last two years have marked a new high for the Indian Maritime sector, including the Ports as  the Ministry of Shipping is keen to develop the Indian Ports to international standards both in terms of efficiency and infrastructure.  


Cochin Port Gets a Little 'Breathing Space'

Photos: Cochin Port Trust

 The Cabinet Committee on Economic Affairs of India, chaired by the Prime Minister Narendra Modi, has given its approval for waiver of penal interest on Government of India (GOI) loans availed of by Cochin Port Trust (CPT) to the tune of Rs 897


SCI to Buy Vessels for $134m

Photo by  Shipping Corporation of India.

 India's largest shipping company  Shipping Corporation of India (SCI) has earmarked Rs 900 crore ($134m ) capex for the current financial year even as business climate remains grim for the industry across globe mainly because of availability of low-priced assets in the market


Vizag Port Mulls Major Expansion

Photos: Visakhapatnam Port Trust

Vishakhapatnam Port is poised for major expansion, with the Minister for Shipping, Road Transport and Highways Nitin Gadkari inaugurating several projects during his visit to the port, says government press release.    The Minister inaugurated a Container Freight Station of 1 lakh TEU


RS Fosters Cooperation with Palmali

Russian Maritime Register of Shipping (RS) and Palmali Shipping Company have signed a set of five-year agreements based on which RS will render the whole range of services on classification and statutory surveys of ships.    Subject of the agreements concluded are 49 ships (oil tankers


India to Establish New Multi Modal Terminal in Varanasi

Image: The official FB Page of Nitin Gadkari

 Indian Shipping Minister Nitin Gadkari has layed the foundation stone for a multi-modal terminal at Varanasi.   The phase-I of the multi-modal terminal will be built by AFCONS Infrastructure at an estimated cost of Rs.170 crore and is slated to completed by August 2018.  


India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Image: Cochin Shipyard Ltd

 Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed are in line with aggressive growth plans of the public sector firm.  


RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime Safety Committee (MSC) confirmed at its 96th session held in London from May 11-20, 2016.  


SCI Profit doubles to Rs. 377.29 Crores

Tanker of Shipping Corporation of India Photo SCI

The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking, has nearly doubled it’s net profit to Rs. 377.29 Crores for the year ended 31st March 2016 as against a net profit of Rs.200.93 Crores in the previous year


New Series of Trawlers Built to RS class

Construction of a new series of trawler-seiner pr. SK-3101R has been commenced at the Shipyard Yantar (Kaliningrad).    Project SK-3101R was designed by Skipskompetanse, Norway. The trawler is intended for fishery using bottom and pelagic trawls, bottom net and seiner net


Lifeboat Donated to Hellenic Rescue Team

Norway II (Photo: IMRF)

A new lifeboat has been donated to the Hellenic Rescue Team (HRT) by fellow International Maritime Rescue Federation (IMRF) members the Norwegian Society for Sea Rescue (RS), and the Norwegian Ministry of Foreign Affairs.   ‘Norway II’ is the second lifeboat to be donated to HRT


Shipping Corp Seafarers on Hunger Strike

Image: Shipping Corporation of India

 Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears.   According to a Press Trust of India report, these seafarers


Baltic Dry Bulk Index Dips on Weak Demand

File Image: a FedNav bulk carrier alongside in the St. Lawrence Seaway

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued to dip on Wednesday due to sluggish demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels






 
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