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
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
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
Miraejet Co. Ltd. named its Damen Fast Ferry 4010 JET MV Nina at an official launching ceremony held at the Busan International Ferry Terminal in the Republic of Korea on October 6th. Nina was named after one of the ships deployed on Christopher Columbus’ first voyage to the West Indies.
Athens, Greece - Seanergy Maritime Holdings Corp. announced today that it has taken delivery of a 178,838 dwt Capesize dry bulk vessel, renamed to M/V Lordship and built in 2010 by Hyundai Heavy Industries in South Korea. The M/V Lordship is the first of two Capesize vessels that the Company
Gulfstream Shipbuilding welcomes James Murray, a second generation boat builder and operator/owner, to the Sales Management Team. James is the son of Jim Murray, who originally opened the shipyard 35 years ago as Freeport Shipbuilding. James built a variety of custom boats at the shipyard
Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), today delivered the American Endurance, the first of four next generation 50,000 dwt product tankers that it is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc.
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.
Royal Australian Navy officers were amongst the first to graduate from the new AEGIS combat systems course delivered at the Combat Systems Engineering Development Site in Moorestown, New Jersey after completing a thorough and rigorous two months of training.
Navig8 Chemical Tankers Inc. an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Stellar, a 25,000 DWT stainless steel chemical tanker from Kitanihon Shipbuilding Co., Ltd.
Polarcus Limited announced release of its third quarter 2016 financial statements. HEADLINES Q3 2016: * Revenues of USD 64.6 million, down 5% from Q2 2016 * Contract revenues of USD 54.1 million, up 31% from Q2 2016 * Multi-Client revenues of USD 10
Bidders for Hanjin Shipping Co.'s Asia-U.S. route up for sale will start a due diligence process this week, with the asset sale by the country's ailing shipper expected to be completed by next month, Yonhap reports quoting industry sources.
Terex Port Solutions (TPS) has received orders from Bharat Mumbai Container Terminals Pte Ltd (BMCT), a wholly owned subsidiary of PSA International Pte Ltd (PSA) to supply various types of Terex stacking cranes. The orders include eighteen Terex rubber-tyred gantry cranes (RTG) and four Terex
Nakilat has assumed full ship management and operations of Q-Max LNG carrier Mekaines from STASCo (Shell Trading and Shipping Company Ltd.) with effect from November 7, 2016, as part of the planned and phased transition announced on October 19, 2016.
Bibby Offshore, the leading subsea services provider to the oil and gas industry, has this year been awarded two contracts from Shell to provide inspection services on assets in the Corrib Natural Gas field in the North Atlantic Ocean.
The Jamaica Defense Force (JDF) has awarded Damen Shipyards Group a contract for two new Stan Patrol 4207 vessels. Because the shipbuilder had both vessels available on stock, delivery is expected within the coming months. Damen said it is currently completing minor modifications before
Abu Dhabi Ship Building PJSC (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial vessels, has expanded its customer portfolio to now include chemical tankers. ADSB welcomed its first chemical tanker at the new drydock facility at Mina Zayed
The second of Scandlines’ two new hybrid ferries for the Rostock-Gedser route was named M/V Copenhagen during a ceremony at the Danish shipyard FAYARD A/S on October 28, 2016. In his speech to the some 180 guests in attendance, Thomas Andersen, CEO of FAYARD A/S