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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


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


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


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.


Caroline Oetker & Ida Oetker

CO1 WEB.jpg

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


India, Sri Lanka Exchange Fishermen at Maritime Border

Picture: Indian Coast Guard

 Sri Lanka and India exchanged the fishermen who were detained in each other's jails for trespassing into their territorial waters.  A total of 15 Indian fishermen, who were in the custody of Sri Lankan authorities, reached Karaikal


EU Annulls Sanctions on 40 Shipping Firms

The European Union's second highest court on Thursday annulled EU sanctions on an Iranian bank and 40 shipping companies hit with asset freezes as part of pressure on Tehran over its nuclear programme.   But they will remain under sanctions for now after the General Court gave the EU time


The Art of Propeller Making

The mold is 1,100 degree Celsius liquid bronze is flowing into the prepared propeller mould.to be filled.

The world’s biggest propellers have their cradle in the North of Germany. MMG – Mecklenburger Metallguss GmbH – has manufactured for more than 65 years propellers for ships, including the biggest and fastest, in the State of Mecklenburg-Vorpommern


Australia Gives Landing Craft to the Philippines

The Australian Government will gift two recently-decommissioned Landing Craft Heavy vessels, including a package of spare parts, to the Philippines Government, the Minister for Defense Kevin Andrews announced today.    Andrews said the former Royal Australian Navy vessels HMAS Tarakan


Nigerian Navy Arrests 84 Vessels for Maritime Offences

Image: The Nigerian Navy (NN)

 About 84 vessels have been arrested by the Nigerian Navy within maritime domain of the nation for committing various illegal activities during 2014, says Nigerian Navy source.   According to a report by News Agency of Nigeria (NAN), after preliminary investigation


Cochin Shipyard Mulls to Build LNG and High-Speed Ships

Cochin Shipyard Ltd (Image: CSL)

Indian state owned Cochin Shipyard Ltd (CSL) is in talks with global players to join hands for a bid for the GAIL contract for LNG contained vessels. It also in talks the Australian company Incat for a technical tie-up to manufacture high-speed passenger vessels.  


USCG Rescue Woman Near Tongass Narrows, Alaska

Coast Guard Rescue Woman

  The Coast Guard assisted a 26-year-old woman from Metlakatla, Alaska, who was reported to have fallen out of her canoe and swam to shore near Tongass Narrows, Sunday. A Station Ketchikan 25-foot Response Boat – Small crew picked up the survivor and transferred to her family in


Meercat Delivers First Workboat Under New Ownership

Falls of Lora is now in operation with Dawnfresh Farming

Meercat Workboats have delivered its first vessel under the umbrella of new owners Burgess Marine with the hand-over of a 14m. workboat to Scottish fish farming specialists Dawnfresh Farming. Meercat completed the steel build, named the Falls of Lora, at its facilities in Portchester, Hampshire


USNS Trenton JHSV 5 Christened

Photo courtesy of Austal

Austal christened USNS Trenton (JHSV 5) January 10 at its shipyard in Mobile, Alabama. USNS Trenton is the fifth of 10 Joint High Speed Vessels (JHSV) that Austal has under contract with the U.S. Navy as part of an overall 10-ship block-buy contract worth over $1.6 billion.  


Stena Germanica to Run on Methanol

Stena Germanica (Photo courtesy of Stena Line)

The Stena Line's ferry Stena Germanica will become the world's first ferry to use methanol as a fuel.  The 240m, 1,500-passenger, 2001-built ro-pax ship will soon undergo conversions in Poland’s Remontowa shipyard.  The aim of the exercise is to drastically cut exhaust emissions


Nichols Brothers to Build Washington Ferry Superstructure

Washington State 144-car ferry Superstructure Chimacum to be built at Nichols Brothers Boat Builders    Ice Floe, LLC dba Nichols Brothers Boat Builders (NBBB) has been contracted by Vigor Industrial to construct the superstructure portion of the third Olympic Class 144-Car Washington


Russia May Sue France Over Non-delivery of Warships

Source: DCNS

 Russia will take France to court within six months over its failure to deliver the first of two Mistral-class warships to the Russian navy, the Russian Defense Minister has said.  “There is a contract, so everything must be strictly complied with,” Sergei Shoigu said


Sustreanu Named COO of FleetPro Group

Christine Sustreanu (Photo courtesy of FleetPro Group)

Christine Sustreanu will join FleetPro Group June 1, 2015 as its new chief operation officer (COO), the company announced in a press release.   Sustreanu, who presently serves as general manager at Uniworld Boutique River Cruise collection, will replace Robert Heijlands


Slow Economy Growth Offers No Respite for Shipping

File photo

A limited economic growth potential and a slow recovery pace of the global economy only ease the pain in the global shipping industry somewhat, BIMCO reported, adding that while the industry continues to suffer from oversupply in the freight market


Oman Drydocks Handls 300th Vessel

Image: Oman Drydock Company

 The Oman Drydock Company has celebrated the handing over of the 300th vessel since starting its operations in 2011, under the auspices of Said bin Hamdoon al Harthy, Undersecretary of the Ministry of Transport and Communications for Ports and Marine Affairs.






 
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