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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.

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.

Nauta Bags Two Fishing Vessel Orders

Image: Nauta

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

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

Nautisk Launches 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

Seaspan Responds to Canada’s NSS Announcement

Brian Carter (Photo: Seaspan)

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

Boskalis Awarded Aberdeen Offshore Wind Farm Contract

Aberdeen Offshore Wind Farm Image Royal Boskalis Westminster

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

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

Ferus Smit Launches Arklow Cape

Photo: Simon Marrink

Shipbuilder Ferus Smit has launched new build M.V. Arklow Cape on Friday, October 21 at its Westerbroek shipyard in the Netherlands   Arklow Cape (Nb. 425) is the second vessel in a series of 10 that will be delivered to Irish owner Arklow Shipping.  

Bollinger Delivers FRC to the US Coast Guard

Lawrence Lawson sister ship Margaret Norvell was delivered to the U.S. Coast Guard in 2013 (Photo: Bollinger Shipyards)

Bollinger Shipyards has delivered the USCGC Lawrence Lawson, the 20th Fast Response Cutter (FRC) to the United States Coast Guard.   Ben Bordelon, Bollinger President & C.E.O. said, “We are very pleased to announce the delivery of the USCGC Lawrence Lawson to the U.S

Towboat Delivered to Gateway Dredging

Photo: TSGI

Gateway Dredging has taken delivery of a 55’ 1,200 HP twin screw conventional towboat. The Shearer Group, Inc. (TSGI) provided the design and engineering services to JB Marine Service, Inc. where the towboat was constructed in St. Louis, Mo.  

Denmark Gets QUALSHIP 21 Certificate

Image: Danish Maritime Authority

 Once again, the U.S. Coast Guard has issued Denmark with the well-reputed certificate for United States Coast Guard's Quality Shipping for the 21st Century Program (QUALSHIP 21).   The program is intended to secure and improve shipping and has existed since 2001

Finnish Minelayer Undergoes Midlife Refit

Finnish Navy’s minelayer Pansio (Photo: AEFI)

Minelayer vessel Pansio has been fully refitted and handed over to the Finnish Navy, following a midlife upgrade carried out by ATLAS ELEKTRONIK Finland Oy (AEFI ) together with Uki Workboat Oy (Uudenkaupungin Työvene Oy) as a subcontractor.  

Why Should I Care About Thermal Insulation?

Photo: Thermal Structures, Inc.

Compliance, Safety, Insurance, Emissions & Maintenance   There are a million important things to worry about on any vessel, so why does high-performance thermal insulation deserve a place on the list? Answer: Because it has a very important role to play in keeping your vessel out on the

Three Chinese Fishermen Dead in S.Korea Coastguard Confrontation

China lodges protest with Seoul over the incident. Three Chinese fishermen were killed on Thursday in a fire that broke out on their boat when South Korean coastguard men trying to apprehend them for illegal fishing threw flash grenades into a room they were hiding in

Dellner Brakes Introduces Electrical STL System

(Image: Dellner Brakes AB)

Manufacturer of technologically advanced industrial and marine braking systems Dellner Brakes AB has launched what it is calling “the world’s first fully automated, electrical ‘Stop, Turn, Lock’ (eSTL) braking system” at September’s SMM 2016 international marine

Polaris: World´s First LNG-Powered Icebreaker Delivered

(Photo: Arctech Helsinki Shipyard)

Arctech Helsinki Shipyard delivered the most powerful newcomer in the Finnish Icebreaker fleet, icebreaker Polaris, to the Finnish Transport Agency on September 28th, 2016. The Finnish Transport Agency handed the vessel over to Arctia Icebreaking Oy

Cable Ship Rescues 14 Fishermen near Mumbai

The crew deployed on the C.S. Dependable, a transoceanic cable ship from TE SubCom, rescued 14 fisherman in the Arabian Sea off the Maharashtra Coast near Mumbai, India.   Indian fishing boat FV Datta Sai sank on September 17 with 16 persons aboard

India's GSL Delivers Patrol Vessel to Mauritius

Photo: Press Information Bureau, India Govt

 Indo-Mauritian maritime defence Co-operation got another fillip with the delivery of first Fast Patrol Vessel, MCGS VICTORY, designed and built in-house by Goa Shipyard Limited(GSL) for Mauritius Coast Guard, on 26th September 2016 at GSL.   

Second Ship of Franklin Arctic Voyage Found, Canada Confirms

Canada confirmed on Monday it has found the wreck of HMS Terror, the second of two British ships lost in the disastrous Franklin Arctic voyage of 1845, and said the government will work closely with northern aboriginals on ownership of the artifacts.  

SENER Unveils FORAN V80R2.0

SENER´s Stand at SMM Hamburg 2016 Photo SENER

The SENER engineering and technology group has taken part in the SMM Hamburg maritime trade fair, one of the most prestigious international meetings in the sector, which is held every two years, on this occasion from September 5 to 9. SENER, staying loyal to a tradition of over 20 years

Second Ship Found from Doomed 1800s Arctic Expedition

1836 watercolor painting by Admiral Sir George Back, then in command of the HMS Terror on a voyage to Hudson’s Bay, shows the ship and one of her boats beside an iceberg. (Courtesy: Canadian Museum of Civilization / Parks Canada)

Explorers have found the wreck of HMS Terror, the second of two British ships lost in the disastrous 1845 Franklin expedition to Canada's Arctic Northwest Passage, Britain's Guardian newspaper said on Monday.   The Arctic Research Foundation

MN100: Tube-Mac Piping Technologies Ltd

(Image: Tube-Mac Piping Technologies)

The Company: Tube-Mac Piping Technologies, founded in 1977, specializes in “non welded piping systems” for lubrication and hydraulic lines. The corporate headquarters is based in Stoney Creek, Ontario, Canada with a 55,000 SF (5100 SM) component manufacturing and pipe fabrication

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