UltraStrip Systems, Inc. announced the signing of a five year exclusive agreement with BAE Systems ship yard subsidiaries in San Francisco and San Diego to provide its patented robotic automated waterjetting technology equipment and services. UltraStrip's robotic technology will perform high speed coating removal services to the shipyard's customers, including U.S. Navy vessels, oil tankers, cruise ships, bulk carriers, and container ships. BAE Systems San Francisco and BAE Systems San Diego are subsidiaries of BAE Systems Ship Repair, Inc., a group of companies owned by U.K. based BAE Systems.
Diana Shipping has entered into a time charter contract with Hong Kong - based China Shipping Bulk Carrier, for one of its Panamax dry bulk vessels, the m/v Calipso. The "Calipso" is a 73,691 dwt Panamax dry bulk vessel built in 2005. The gross charter rate is US$6,000 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum fourteen (14) months.
Xinhua reported that COSCO Group, China's leading shipping and logistics service provider, inked in Boao, Hainan Province on Saturday contracts with four domestic shipyards to build 66 ships. Zhang Fusheng, a COSCO spokesman, did not disclose the total value of these shipbuilding contracts but said they summed up to a record amount for the shipping giant. The move is to help meet China's strong demand for shipping as the country's fast economic development gives rise to more imports of
The U.S. Naval Sea Systems Command has awarded a contract to Northrop Grumman Corporation to supply integrated bridge systems (IBS) for three U.S. Navy cruisers. The indefinite-delivery indefinite-quantity contract, valued at $2.72m, was awarded to Northrop Grumman’s Sperry Marine business unit. Under the contract, the new-generation IBS, running on Sperry Marine’s Voyage Management System (VMS) software, will be back-fitted onto three guided-missile cruisers (CG).
Northrop Grumman Corporation is introducing the VisionMaster FT Electronic Chart Display and Information System-E (ECDIS-E), a new cost-effective navigation solution for commercial tankers, container ships, bulk carries and passenger ferries including retrofit installations. Based on the Northrop Grumman Sperry Marine VisionMaster FT platform, the new ECDIS-E combines an optimized feature set with easy to install hardware
World Shipowners’ Association (WSA) has appointed Nigeria-born Forbes billionaire and President of Slok Group, Orji Uzor Kalu as interim president of the body. Kalu, an eminent businessman and former governor of Abia State will occupy the position pending the election of substantive officials at the proposed Marine Conference scheduled for Greece in Q3 2017 The maritime industry globally is set to meet its full potential following the unveiling of an umbrella body
The dry bulk shipowner Thoresen Shipping rolled out new subsidiary Thoresen Shipping Arabia as part of its expansion plan to the Middle East With a new office in Dubai for Thoresen Shipping Arabia DMCC, the dry bulk shipping company Thoresen Shipping announced its explansion to the Middle East. The office will be led by Baard Osland, a dry bulk shipping industry veteran. A press statement from Ian Claxton, managing director
Diana Shipping has chartered the 73,630 dwt, 2004-built panamax, Protefs to Transgrain shipping for 12 – 16 months at a rate of $4,500 per day minus 5% commission. This employment is anticipated to generate approximately US$1.55 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax)
Singapore continues to attract a diverse range of maritime businesses and is now home to over 130 international shipping groups and more than 5,000 maritime establishments. The maritime cluster employs more than 170,000 people and contributes some seven per cent to Singapore’s Gross Domestic Product. Mr Andrew Tan, Chief Executive of MPA, said, “2016 was an eventful year for the shipping industry with further changes in the mega-alliances, new mergers and acquisitions
Star Bulk Carriers Corp. announced the closing of its previously announced private placement of 6,310,272 common shares, at a price of $8.154 per share. The aggregate proceeds to Star Bulk, net of underwriting fees and offering expenses, were approximately $50.6 million. Star Bulk intends to use the net proceeds for general corporate purposes. Oaktree Capital Management, L.P. and its affiliates and Senator Investment Group LP purchased 6,310
South Korea’s Samra Midas Group (SM Group) said that it is looking to acquire some overseas shippers, among other businesses in an effort to expand its foothold in the maritime sector, Yonhap News Agency cited one of the company’s officials.
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, snapped a 14-session winning streak on Tuesday as rates for larger vessels fell. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels
Shipping confidence held steady in the three months to end-February 2017, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. In February 2017, the average confidence level expressed by respondents was 5
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 10 points, or 0
Stena Bulk has agreed to purchase the remaining 50 percent of the shares in Stena Weco from its partner WECO Shipping. Stena Weco will thus be wholly owned by Stena Bulk. Stena Weco’s head office will remain as it is today in Denmark in addition to the regional offices in Singapore
Vietnam National Shipping Lines (Vinalines) and Vietnam National Coal - Mineral Industries Group (Vinacomin - TKV) signed a memorandum of understanding (MoU) for a strategic co-operation agreement, Viet Nam News reported. As per the agreement
The Royal Australian Navy’s replenishment capability is operating at capacity once again with HMAS Sirius back in the brine after four months of maintenance at Captain Cook Graving Dock, Garden Island. The fleet tanker cut an impressive figure against the city skyline as she
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a ninth straight session on Monday, helped by stronger capesize rates. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a tenth straight session on Tuesday, helped by higher rates for capesize vessels. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels
Golden Ocean Group Limited said it has entered into agreements to acquire 16 dry bulk vessels,14 of which will be acquired from subsidiaries of Quintana Shipping Ltd., and two ice class Panamax vessels will be acquired from subsidiaries of Seatankers, an affiliate of Hemen Holding Ltd
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to an over three-month high on Thursday, buoyed by a surge in capesize vessel activity. The overall index, which factors in rates for capesize, panamax
The dry bulk industry remains well on target for profitable freight rates in 2019, according to BIMCO. This relies however, on the projected fleet supply growth rate of 0 percent in 2017 continuing. The handymax segment may even see profits in 2018 as demand may go beyond 2 percent in 2017 before
The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt. The 2006 built vessel is expected to join the Company’s fleet in Q1 FY18.
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the 14th straight session on Monday as capesize rates strengthened. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels, climbed 9 points
Hyundai Heavy Industries Group reports $240 million order for the world’s first liquefied natural gas (LNG) fueled aframax tankers Hyundai Heavy Industries’ shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) said it recently won a $240 million order to build four 114