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Second Hand Vessels

India Eases Norms For Ship Imports

India has eased norms for the import of ships, the government announced last week. Import of ships by open general license (OGL) under a bareboat charter-cum-demise method, which is similar to hire-purchase, will not need a technical clearance by the government, but will need an evaluation of the import price, officials said. "The price reasonableness (evaluation) and interest margin on rental payments will be verified by ICICI," a government spokesperson said, referring to bareboat charters. ICICI is one of India's leading finance firms. "However, the price reasonableness will be required only if the value of the imported vessel on CIF (cost, insurance and freight) basis is more than 10 million rupees," he added. New vessels imported under open general license will no longer need technical clearance and price evaluation, but the vessel at the time of registration will be surveyed by principal officer, Mercantile Maritime Department, and deficiency in the vessel, if any, will have to be removed before registration. Import of second-hand vessels with a CIF value of less than $230,000, will also not need technical clearances and price evaluation. The spokesperson said second-hand vessels that do not have a minimum "economic life" of five years will not be allowed to be imported under the guidelines.


Moody's Downgrades MC Shipping

Moody's Investors Service downgraded the senior unsecured rating for bonds issued by MC Shipping Inc to Caa3 from B3. The downgrade reflects the company's deteriorating unencumbered asset base, high leverage, tight liquidity position, weaker operating performance and continuing difficult market situation. Moody's lowered the senior implied rating for the group to Caa2 from B2 and the issuer rating to Ca from Caa1.


Saigon Shipmarin to Build First Vessels for Export

The Saigon Shipbuilding and Maritime Industry Company (Saigon Shipmarin) signed a contract with Japan's Kanematsu Corp. to build two 6,500-tonne cargo vessels. These are the first cargo vessels that Saigon Shipmarin, a member of the Viet Nam Shipbuilding Industry Corporation (Vinashin), has built for export. The first vessel is expected to be handed over in March 2007 and the second, in July. The company has invested over VND 300 billion (over US $18 million) to expand its production scale


Costamere Report Favorable Financial Results

Costamare Inc report unaudited financial results for the third quarter and nine months ended September 30, 2012. 
 Greek-based Costamere is a leading owner and provider of containerships for charter. The Company has a fleet of 57 containerships, with a total capacity of approximately 329,000 TEU, including 10 newbuild containerships on order. Financial highlights:     •    Voyage revenues of $94.9 million and $291


Knightsbridge Reports 2013 Results

Highlights:   Knightsbridge reports net income of $3.0 million and earnings per share of $0.10 for the fourth quarter of 2013. Excluding the results from discontinued operations, the company reports net income of $3.5 million and earnings per share of $0.123 for the fourth quarter. Knightsbridge reports EBITDA from continuing operations of $7.0 million and EBITDA from continuing operations per share of $0.24 for the fourth quarter of 2013.


Nautisk Launches NaviTab

NaviTab

Nautisk unveiled its latest navigational solution: NaviTab from Nautisk, a unique concept that replaces a vessel’s onboard Navigational Publication library. Hundreds of books have been uploaded onto a hi-spec hand-held device, suitable for use both onshore and on the bridge. “Currently, all vessels sailing global routes must carry a full portfolio of navigational publications (NPs) in order to sail compliantly and meet SOLAS Regulation,” said Nautisk CEO Thomas Fjeld


HHI and Transas Hand New Vessel Over to PRISCO

The New tanker Pavel Chernish built by Hyundai Heavy Industries Ltd as part of the 1599 – 1603 project, was handed over to the Primorsk Shipping Corporation (PRISCO). Pavel Chernish is a vessel of ice class 1A according to the DNV classification and fully complies with the requirements of Exxon Neftegaz Ltd, subsidiary of Exxon Mobile. The tankers are designed for oil transportation within the Sakhalin – 1 project. The second tanker of the series will be handed to PRISCO in the near future


Diselenginetrader.com Connects Buyers and Sellers

Norwegian Maritime Equipment A/S, who trade in new and second hand equipment worldwide, had an urgent inquiry from one of their customers for a diesel engine to power a generator set. The situation was rescued and a suitable engine was found at Delta Trading BV in Holland by searching in www.DieselEngineTrader.com. Trond Paulsen of Norwegian Maritime said, “The Internet is a very important tool in our daily work. www.DieselEngineTrader


China Shipyard Delivers Bulk Carrier to Greek Owners

COSCO Dalian Shipyard has delivered a 57.000 dwt bulk carrier to Common Progress Co Na S.A. of Athens COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 57000DWT, "COMMON FAITH", to its European buyer. The bulk carrier measures 189.99 meters in LOA, 32.26 meters in breadth and 18 meters in depth.


Russian Shipyard Cuts First Metal for Mistral-class Warship

Mistral-class Ship: Photo credit Wikimedia CCL

Baltic Shipyard cuts metal for the hull of  first Mistral-class amphibious assault ship for construction in France. Russia and France signed a US$1.2-billion contract on two French-built Mistral class ships, including the transfer of sensitive technology, in June 2011. Under the contract, STX France will carry out the final assembly of the hulls from 24 blocks produced in Russia. STX France handed over in July the first batch of technical documentation on the Mistral project to Russian


VT Halter Delivers ATB Tug to Bouchard

M/V Morton S. Bouchard Jr. on sea trials (Photo: VT Halter Marine)

VT Halter Marine, Inc. announced the delivery of the M/V Morton S. Bouchard Jr., the first of the two 6,000 horsepower Twin Screw Articulated Tug Barge (ATB) tugs to Bouchard Transportation Co. Inc.    Measuring 130 feet by 38 feet by 22 feet, the M/V Morton S. Bouchard Jr


Crowley Christens 2nd LNG-ready Product Tanker

Photo: Crowley

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of four new Jones Act product tankers yesterday at the South Florida Petroleum Terminal (The Public Dock) in Fort Lauderdale, Fla


Antietam, McCampbell Build Relationships at IFR 2016

IFR 2016 is an international military exercise hosted by the Indian Navy to help enhance mutual trust and confidence with navies from around the world. Antietam and McCampbell, forward deployed to Yokosuka, Japan, are on patrol in the 7th Fleet area of operations in support of security and stability in the Indo-Asia-Pacific. (U.S. Navy photo by Mass Communication Specialist 3rd Class David FlewellynReleased)

 Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India to participate in the nation's International Fleet Review (IFR) 2016. IFR 2016 is an international military exercise hosted by


SA Navy Acquires Damen ATD Tug

ATD 2909 Photo Damen

On 4 February 2016 the South African Navy took delivery of a second South African-built Damen ATD Tug 2909 at the naval base in Simon’s Town. Escorted by SA Navy's existing six tugs, Inyathi was welcomed into the naval fleet with a traditional sail past.


Iran Plans Listing NITC to Fund Fleet Modernization

Photo: NIOC

Iran plans to list its national tanker company to raise badly needed cash to upgrade its massive fleet and replace older vessels, as the middle east country prepares for an aggressive return to the global oil market.   The country emerged from years of economic isolation last weekend after


MISC Hands Over Naval Auxiliary Vessel BM5 To RMN

Former container ship joins Malaysian Navy Photo RMN

MISC Berhad (MISC) today had successfully handed over to the Royal Malaysian Navy (RMN) the Naval Auxiliary Vessel BUNGA MAS LIMA (BM5), joining the RMN’s current fleet that will be deployed to safeguard the safety of our Malaysian waters and strengthen the RMN’s future maritime


FURUNO Launches Two Radar Models

FAR-15x3 (left) and FAR-15x8 (right) (Photo: FURUNO)

FURUNO has announced that two new Radar models FAR-15x3 series and FAR-15x8 series will be ready for launch very shortly. These two Radar models have been developed with the concept of delivering high performance and excellent operability at the same time.  


Vessel Sinks in Atlantic Entrance to Panama Canal

VFM ALITA Photo Marine Traffic

The M/V ALITA. IMO 8503814 (174.10 meters LOA x 15,85 meters in beam) has been reported sunk at the following approximate position: Latitude 09 deg. 23.87’N and Longitude 079 deg. 55.75’W, which is about 0.7 nautical miles and 325 deg. from the West Breakwater Light.


Greek Pension Protests Hit All Transport Sectors

Ferries were docked at Greek ports on Wednesday as sailors kicked off their second 48-hour strike this week, adding to a groundswell of public discontent over plans to reform the country's struggling pension system. Prime Minister Alexis Tsipras launched a vocal defence of the plan on Tuesday


Alaska Oil Spill Response Policy Revised

The policy regarding chemical dispersant use for oil spill responses in Alaska has been revised.   The new policy for the Dispersant Use Plan For Alaska was announced Wednesday in Anchorage by the U.S. Coast Guard in coordination with four other signatory agencies of the Alaska Regional


Cosco Bags Contract for Trailing Suction Hopper Dredger

Image: Cosco Shipyard

 COSCO (Guangdong) Shipyard Co., Ltd, has secured a  contract from a European buyer to build one 15, 000m 3 Trailing Suction Hopper Dredger.    The Singapore-listed shipbuilder COSCO Guangdong and the buyer have agreed  to keep the contract price  confidential


BP Pulls Plug on Oceaneering Vessel Contract

Photo: Oceaneering International, Inc

 UK giant BP will end a contract off Angola with Oceaneering International about eight months early.   Oceaneering International has announced that BP has exercised its right to terminate its use of the chartered vessel Bourbon Oceanteam 101 at the end of May 2016.  


BAE Systems Supports Thai Navy Patrol Boat Build

Danela McFadyen, Head of Commercial, International with Captain Pichayane Tanprasert, Managing Director of Bangkok Dock (Photo: BAE Systems)

BAE Systems announced it has signed a contract with Bangkok Dock to assist in the licensed construction of a second 90-meter Offshore Patrol Vessel for the Royal Thai Navy. Under the agreement, BAE Systems will provide engineering support and advice during construction of the vessel in Thailand.


HamiltonJet Debuts JETanchor Positioning System

Global waterjet manufacturer HamiltonJet has launched its latest vessel positioning system, JETanchor.   Developed from the blueARROW controls platform JETanchor is the newest addition to the HamiltonJet controls’ product range, developed and tested over the past 18 months


Damen Builds Cable Installer For Maersk Supply Service

Photo: Damen

New Damen-built vessel for Maersk Supply Service to undertake long-term charter with DeepOcean   A newbuild DP2 cable installation vessel, Maersk Connector, was handed over from Damen Shipyards Group to Maersk Supply Service on February 4, 2016






 
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