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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


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.


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.


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


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


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


Powering Ahead with a Clean Design

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The Shearer Group and Conrad Shipyard collaborate on an ABS approved LNG Towboat Design. What happens next could change inland shipping forever. The December announcement that Conrad Shipyard, L.L.C. and The Shearer Group, Inc. (TSGI) had worked together to develop the design of a Liquefied


U.S., Ghana Complete AMLEP 2015

A Ghanaian military member stands by as the Military Sealift Command’s joint high-speed vessel USNS Spearhead (JHSV 1) moors at Sekondi Naval Base, Ghana, after completing Africa Maritime Law Enforcement Partnership operations Feb. 24, 2015. Spearhead is on a scheduled deployment to the U.S. 6th Fleet area of operations in support of the international collaborative capacity-building program Africa Partnership Station. (U.S. Navy photo by Lt. Adam Cole/Released)

  U.S. and Ghanaian and maritime forces completed Africa Maritime Law Enforcement Partnership (AMLEP) 2015 operations, Feb. 24, 2015. The Military Sealift Command’s joint high-speed vessel USNS Spearhead (JHSV 1) and an embarked combined law enforcement detachment (LEDET)


Maersk Sheds Danske, to Issue Dividend

Danish shipping and oil group A.P. Moller-Maersk will hand shareholders a $6.6 billion windfall in dividends this year after it sells its 20 percent stake in Denmark's biggest bank Danske. Analysts had expected Maersk to announce the divestment of some assets on Wednesday as part of its


Damen ASD 2810 Hybrid Tug Delivered to Multraship

Multratug 28 (Photo: Damen)

Multraship took delivery of a Damen ASD 2810 Hybrid tug vessel, built at Damen Shipyards Galaţi, in Romania. The delivery is part of Multraship’s fleet expansion program, which involves a number of Damen vessel orders.   The new vessel, named Multratug 28


MMEA Recover Hijacked Tanker

hijacked Malaysian coastal tanker

  A hijacked Malaysian coastal tanker has been recovered by the prompt actions of the Malaysian Maritime Enforcement Agency (MMEA) off the coast of Malaysia. The owners of the Malaysian tanker lost contact with the tanker at 2200 hours on 28 January 2015


Carimin Wins Petronas Spot Charter

Photo : Carimin Petroleum Berhad

  Carimin Petroleum Berhad one of the leading providers of offshore oil and gas (O&G) support services in Malaysia, has received an umbrella contract for provision of spot charter marine vessel services from Petronas Carigali Sdn Bhd (PCSB).


Class Approvals for Alfa Laval PureSOx Scrubber

Alfa Laval PureSOx 2.0 (Photo: Alfa Laval)

As the start of enforcement in Emission Control Areas (ECAs) now begins, Alfa Laval, which reported steady growth in exhaust gas cleaning in 2014, said it has the ability to deliver class-approved systems and is prepared for a higher order intake in 2015.  


Scorpio Bulkers Modifies Shipbuilding Contracts

Scorpio Bulkers Inc. has reached agreements with a shipyard in South Korea to modify existing newbuilding contracts for three Capesize Vessels, the company announced today.   The three contracts, two for vessels scheduled for delivery within the first quarter of 2016 and one for a vessel


New Electronic Cummins After 45,000 Hours

The OliMar at the Basel container port. (Photo courtesy of Cummins Marine)

The hours that a Cummins Marine engine can run between rebuilds will vary depending on operating conditions. However it is not unusual for operators to report 45,000 hours of operation. Such was the case for the owners of the Belgian-registered, 110x12-meter inland waterways vessel OliMar.


GSL to Acquire 8,063 TEU Vessel

Second sale-and-leaseback agreement provides immediately accretive earnings growth; acquisition expected to generate annual EBITDA of approximately $9.4 million   Global Ship Lease, Inc. (GSL) has agreed to acquire an 8,063 TEU containership from a leading container liner company for a


Maersk Vessels Returns to Port of New Orleans

The 7,400-TEU Maersk Kotka arrived at the Port of New Orleanss Napoleon Avenue Container Terminal February 9 signaling the return of the Maersk Vessel service to New Orleans. (Photo courtesy of the Port of New Orleans)

World’s largest carriers part of 2M Alliance offering two weekly services from New Orleans   Maersk Kotka called the Napoleon Avenue Container Terminal on February 9, signalling Maersk Line’s return of vessel service to the Port of New Orleans


Karachi Port Mulls Expansion

Image by Karachi Port Trust

 By the end of this year, the E- Class vessels are expected to steam through newly constructed three breakwaters and one revetment at Keamari Groyne of Karachi port coastline, reports the Dawn.  Safe mooring alongside berths of Pakistan Deep Water Container Port (PDWCP) will welcome the


ACR Electronics Debuts USCG Approved Distressed Flares

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  ACR Electronics, Inc.expands their marine survival gear offerings by adding two new USCG approved distress flares, the Aurora Red Hand Flare and the Orange Hand Smoke signal.  Built by the world leading manufacturer of commercial marine pyrotechnics


New Riverboat to Homeport in New Orleans

Rendering of the American Eagle (Courtesy of the Port of New Orleans)

American Eagle is Second Riverboat for American Cruise Lines in New Orleans   Guilford, CT-based American Cruise Lines will introduce its second riverboat to be home-ported in New Orleans. The two new riverboats are the first new ships built specially for the Mississippi River in 20 years


Container Ships: 2014 Saw High and Low Scrapping

Image courtesy: The International Chamber of Shipping (ICS)

The container segment was one of the big surprises during 2014 with a very high scrapping activity in the year’s first half and a dwindling low one in the second, says the Baltic and International Maritime Council (BIMCO)   






 
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