Second Hand Vessels
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 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.
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
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
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.
Nauta Shiprepair Yard in Poland has signed two contracts in recent days for building partially outfitted fishing trawlers for its Danish client Karstensens Skibsvaerft AS. Within the first order Nauta will produce a partly outfitted vessel with length 69.9 meters and beam 14.2 meters. The B – 436 unit will be ready to hand over in March m2017. This vessel will be similar to the other seiners – Kvannoy and Beinur – which Nauta has built for Karstensens Skibsvaerft AS
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.
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
In response to the Government of Canada’s announcement of a series of enhancements to strengthen the National Shipbuilding Strategy, Seaspan Shipyards’ president Brian Carter issued a statement commending the government’s efforts and reinforcing the shipbuilder’s role in producing ships for the Canadian Coast Guard and Royal Canadian Navy. “We are pleased to receive the Government of Canada’s support for the National Shipbuilding Strategy
Royal Boskalis Westminster N.V. (Boskalis) has been awarded the Offshore Balance of Plant contract by Vattenfall for the construction of Aberdeen Offshore Wind Farm, also known as the European Offshore Wind Deployment Centre. Following the announcement on 29 June stating that Boskalis was the preferred contractor, the contract has now been formally awarded. The project will consist of eleven wind turbines with a capacity of 92.4 MW
Global ship management services provider Anglo-Eastern Ship Management has created a unique ballast water treatment (BWT) training facility at its Manila base in the Philippines. Working in conjunction with BWT specialist Optimarin and Saga Shipholding
The heavy marine transportation provider BigRoll Shipping has reached a milestone. The fourth and final MC Class vessel for BigRoll shipping was handed over by Cosco Dalian Shipyard Co. Ltd to new owner BigRoll Shipping in Leiden, the Netherlands.
Norway's Statoil was the second top bidder for 13 oil exploration leases in the U.S. Gulf of Mexico and won six licences offshore Britain, it said on Thursday, in a sign it may be looking to boost reserves after slashing costs. "The importance of oil companies' ability to replenish
The National Air and Naval Service of Panama (Servicio Nacional Aeronaval - SENAN) has taken delivery of four Interceptor 1102 vessels from Damen Shipyards Group. The President of Panama, Juan Carlos Varela, performed the christening ceremonies of all four vessels on February 6, 2017.
Norsafe said it has signed a contract with Damen Schelde Naval Shipbuilding BV to supply IMO Polar Code compliant Life Saving Appliances (LSA) to an arctic supply and research vessel for the Australian Antarctic Division. Norsafe will supply two JYN-85 conventional lifeboats with LH-140
More than 400 attend 30th anniversary service marking the Herald of Free Enterprise disaster Grieving families affected by the Herald of Free Enterprise RO/Ro passenger ferry disaster gathered to mark the 30th anniversary memorial service in Dover on March 6.
DryShips Inc., owner of ocean going cargo vessels, said it has exercised its second option under a previously announced option agreement to acquire up to four very large gas carriers (VLGCs) currently under construction at Hyundai Heavy Industries Co., Ltd. (HHI) for a purchase price of $83
The U.S. Coast Guard (USCG) has awarded Qualship 21 status to 30 bulk carriers owned and operated by Star Bulk Carriers Corp., the largest U.S. listed dry bulk operator. The Qualship 21 program rewards high quality ships sailing under qualifying flags.
The Japanese orderbook has shown its endurance in the current muted shipbuilding market and recently surpassed its South Korean counterpart in size for the first time since 1999, says a report by Clarksons Research. While the orderbook is shrinking for all of the ‘big 3’
Just over a year after it took delivery of the second of two FCS 3307 Patrol vessels, Homeland Integrated Offshore Services Limited (Homeland) of Nigeria has ordered one more of the same class with an option on a second, to be named Guardian 3 and Guardian 4
DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017. Following the completion of the offering
Work experience opportunities are giving students with an interest Defence careers a chance to get hands-on with Navy life, getting to sea and understanding the roles that might start the passion of a lifetime. For Canberra College Senior Cameron Moncrieff
The head of anti-piracy operations in the semi-autonomous Puntland region of Somalia said he had been fired for speaking out about illegal fishing, which he claims could trigger a new outbreak of piracy in the Indian Ocean. Pirates hijacked an oil tanker off Somalia last week
The Republic of the Marshall Islands (RMI) fleet now stands at 223,262,177 deadweight tons (DWT), making it the second largest registry in the world in terms of DWT. International Registries, Inc. and its affiliates (IRI) have provided administrative and technical support to the RMI Registry since
Mitsui O.S.K. Lines announced the graduation of 88 students in the sixth class of the "3rd Year Program," which MOL introduced with the goal of developing crewmembers who will uphold strict safety standards in vessel operation.