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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.


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


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


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


Caroline Oetker & Ida Oetker

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Two New Ships for A.O. Schiffahrt In May 2012, A.O. Schiffahrt celebrated the christening of the Kamsarmax bulk carrier Caroline Oetker at the yard of Taizhou Catic Shipbuilding, near Shanghai. The sister vessel Ida Oetker was due to be christened at the same location on June 26. Both ships have a capacity of 82,000  dwt, and measure 229 x 32 m.  Sponsor of the Caroline Oetker was Daniela Oetker, wife of Alexander Oetker, owner of A.O


PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data. Venezuela will start importing light crude this month with a shipment of Algerian Saharan Blend scheduled to arrive at its


Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

(Jim Moffat, CEO of Lamprell. Source: Lamprell)

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted to report that we have completed the second drilling rig for use in the Caspian Sea


New Standard for LNG Cargo Containment Systems

Ti Group provided the insulation systems for six Sayaendo-design 150,000 cubic meter capacity LNG carriers under construction at Mitsubishi Heavy Industries in Japan for NYK/MOL and K-Line.

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.  WTS subsidiary company Ti Group completed the test on the LNG carrier Seishu Maru


Twin Disc Offers Virtual and Real EJS Experience

Twin Disc EJS simulator and Express Joystick (Image Twin Disc)

Visitors to the Fort Lauderdale International Boat Show, October 30–November 3, 2014, can experience what it’s like to control a diesel-powered, conventional driveline boat using Twin Disc's Express Joystick System (EJS). Twin Disc's booth will feature a unique


Simushir Under Tow by Barbara Foss

Simushir Under Tow By Barbara Foss

  Foss Maritime's ocean-going tug, the Barbara Foss, is towing the Russian cargo vessel, Simushir, which lost power late Thursday night off the west coast of Haida Gwaii. The Barbara Foss is currently traveling at 5.5 knots and is expected to arrive at the Port of Prince Rupert


Boskalis Consortium Wins Suez Canal Expansion Contract

Image: Boskalis

  A consortium consisting of Royal Boskalis Westminster N.V. (Boskalis), Van Oord, NMDC (Abu Dhabi) and Jan de Nul (Belgium) has acquired a contract from the Suez Canal Authorities in connection with the expansion of the Suez Canal, which provides a vital shipping link between Europe and Asia


Charity Selected for 2015 OTC Dinner

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The Offshore Technology Conference (OTC) announces the 2015 beneficiary of the Annual OTC Dinner—the Independent Petroleum Association of America (IPAA) and the Petroleum Equipment & Services Association (PESA) Energy Education Center for the benefit of the Energy Institute High School


TEN Comments on Tanker Market Conditions

Photo: Tsakos Energy Navigation

Crude price drop and dollar strength benefit TEN’s bottom line materially; third quarter financial results to be announced on November 21, 2014 Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd. (TEN) said today it believes that the recent decline in TEN’s stock is


Dayang Shipbuilding Delivers 200th Ship

An IMR GPA696 was recently christened and delivered at Dayang Shipbuilding Co. on October 15, 2014, a significant milestone in that the ship is the 200th ship built since the company was founded 10 years ago.

An IMR GPA696 was recently christened and delivered at Dayang Shipbuilding Co. on October 15, 2014, a significant milestone in that the ship is the 200th ship built since the company was founded 10 years ago. Representatives from the government, banks, Bourbon, BV


Newbuild Containership Enters CMA CGM Fleet

CMA CGM Elbe (Photo: CMA CGM)

The CMA CGM Group announced the maiden voyage of the CMA CGM Elbe on October, 14, 2014 in Dalian (China). The CMA CGM Elbe (9400 TEUs) is the second of a series of 28 vessels from 9,400 TEUs to 10,900 TEUs, vessels which will be delivered from now to the third quarter of 2016


GONDAN Delivers PSV Designed with FORAN

Stril Luna, designed with FORAN. (Image courtesy of Gondan Shipyard)

FORAN was the shipbuilding CAD/CAM System used in the design and production of the vessel Stril Luna, built by Astilleros Gondán and delivered to the Norwegian shipowner Simon Møkster Shipping. Stril Luna, an offshore platform supply vessel (PSV)


Antwerp Ro/Ro Terminals Start with Paperless Export

Antwerp roro terminal

ICO and AET, the two ro/ro terminals in the port of Antwerp, are now also connected to the e-Desk. The Antwerp Port Community System (APCS) introduced the e-Desk for containers already in 2012, and this year the successful collaboration has been extended to rolling stock


USS Princeton Wins CNRSW 'Good Neighbor' Award

Officers and crew of guided missile cruiser USS Princeton (CG 59) bestowed with the 2014 Navy Region Southwest Project Good Neighbor flagship award

  The officers and crew of guided missile cruiser USS Princeton (CG 59) were named as the recipients of the 2014 Navy Region Southwest "Project Good Neighbor" flagship award for medium-sized sea duty commands, Sept. 29. Princeton was one of eight Navy Region Southwest units


Discovered Franklin Expedition Ship is HMS Erebus

HMS Erebus (Image: Parks Canada)

The Franklin Expedition ship discovered in early September by the 2014 Victoria Strait Expedition is Her Majesty’s Ship (HMS) Erebus. Sir John Franklin, who was in command of the Franklin Expedition, sailed on HMS Erebus, Canadian Prime Minister Stephen Harper announced Wednesday.


First Damen ASD 2810 Leaves for Trinidad

MV Kairi (Photo: Damen)

First delivery of Damen ASD Tug 2810, ARC Towage signed four contracts total in Barcelona, Spain On July 31, 2013, ARC Towage signed four contracts at the Netherlands shipbuilder Damen Shipyards Group. The newbuilding contracts with ARC Towage are the result of a special joint venture set-up






 
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