Unpaid ship charter hire, an increasing problem in the depressed dry bulk shipping market over the last year, is reportedly spreading to the tanker markets.
Tesoro Expands Relationship with OSG and Charters Two Additional Jones Act Product Tankers Overseas Shipholding Group announced that time charter agreements have been signed for two more Jones Act commercial product tankers being built at the Aker Philadelphia Shipyard. The agreements were made between OSG and Gold Star Maritime Company, an affiliate of Tesoro Corporation (Tesoro), an independent refiner and marketer of petroleum products.
Newport News Shipbuilding has been awarded two separate contracts for ship repair work. The first award is for the M/V 1st Lt. Alex Bonnyman, a Military Sealift Command (MSC) pre-positioning ship chartered through Maersk Lines. Work being performed on the ship includes hull blasting and painting; tank blasting and painting; overhaul of deck cranes; survey and repair of main propulsion equipment; repair of machinery components; cargo equipment refurbishment; and deck equipment survey and repair
The International Tribune has reported that a five-ship United States naval group and a British flotilla were en route to Lebanon today to aid in evacuation efforts. The Navy said it was sending a strike group led by the amphibious-assault ship Iwo Jima to assist in the departure of some of the 25,000 Americans in Lebanon. The ships have hospital facilities, and carry 2,200 marines of the 24th Marine Expeditionary Unit.
Veson Nautical, the US-based developer of software solutions for the commercial maritime community, announced that Fednav Limited of Montreal, a Canadian ocean-going, dry-bulk ship owning, operating and chartering group, has chosen to implement the full complement of Veson Nautical’s Integrated Maritime Operations System (IMOS). Fednav Limited will implement IMOS to manage their chartering and operations departments worldwide as well as link IMOS to their present accounting system
Container ship charter owners Global Ship Lease (GSL) announce its unaudited results for the 3 months and 9 months ended September 30, 2013. The 17 vessel fleet generated revenue from fixed rate long-term time charters of $36.1 million in the three months ended September 30, 2013, down $3.4 million on revenue of $39.5 million for the comparative period in 2012. Third Quarter and Year To Date Highlights Reported revenue of $36.1 million for the third quarter 2013
The government continuously improves incentives for shipowners to register their ships under the Cyprus flag. Communication & Works Minister Flourentzou pointed out Cyprus ranks among the largest international ship registries in the world, but unlike other open registries, he added, Cyprus is also a major base for international shipping operations and for other activities related to shipping. The Minister noted that “a maritime cluster has been developed
Singapore-based Otto Marine & group subsidiaries issue a warning regarding its forthcoming financial results. Otto Marine Group is expected to report a loss for the financial year ended 31 December 2012 largely due to, amongst others, the following: Losses from its subsidiary Reflect Geophysical Pte. Ltd. mainly due to low utilization of its seismic vessel; Impairment of investment and provision of doubtful debts owing to its subsidiary, Reflect Geophysical Pte. Ltd
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk vessels, the m/v JK Pioneer, to be renamed P. S. Palios. The gross charter rate is $18,350 per day, minus a 5% commission paid to third parties, for a period of about 22 months to maximum December 31, 2015
Royal Dutch Shell plc has announced the completion of the acquisition of Repsol S.A.'s liquefied natural gas (LNG) portfolio outside North America for a headline cash consideration of $4.1 billion. As part of the transaction, Shell will also assume $1.6 billion of balance sheet liabilities relating to existing leases for LNG ship charters, substantially increasing the shipping capacity available to Shell's LNG marketing business.
Viking Offshore & Marine Limited (Viking) which is building a portfolio of mainstream offshore, marine and drilling assets, said today that it has secured a 50-month bareboat charter for a land rig system worth approximately US $32 million.
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the MOL Bravo. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design
Teekay LNG Partners L.P. has announced that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units
Stanford Marine announced today from its Dubai headquarters that it has secured a three-year contract for one of its 87-meter Platform Supply Vessels (PSV), Stanford Bateleur, in Mexico. Stanford Bateleur was awarded a long term contract with Mexiship in Mexico.
Navios Maritime Acquisition Corporation an owner and operator of tanker vessels, announced that the Nave Neutrino, a 2003-built VLCC of 298,287 dwt, was delivered today. The Company also announced that the Nave Neutrino has been chartered out to a quality counterparty for six months at
Terntank proclaims its options on two sister ships to the two LNG powered product tankers ordered in the autumn of 2013. The oil company NEOT also confirmed that they are taking in two of these on time charter. Terntank Rederi AS now has four LNG powered 15
Viking Supply Ships, subsidiary of Rederi AB TransAtlantic a leading Swedish shipping company with headquarters in Gothenburg, Sweden, has entered into a contract with a major oil company for the charter of “Tor Viking” in the Far East region, commencing in June 2014.
KNOT Offshore Partners says it has entered into agreements to acquire from Knutsen NYK Offshore Tankers AS all of the ownership interests in the companies that own and operate the shuttle tankers 'Hilda Knutsen' and 'Torill Knutsen'. At the same time KNOT announce the public offering of 4,600
GasLog Ltd. announced that it successfully completed the acquisition of three LNG carriers from an affiliate of BG Group plc (“BG”), which was previously announced on April 10, 2014. This completes the second acquisition of ships from BG by GasLog in 2014
Excelerate Energy and Petrobangla in agreement for long-term FSRU charter and construction of LNG import facility Excelerate Energy and Petrobangla have reached agreement on terms for the development and operation of Bangladesh’s first LNG import terminal
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the Hanjin Tabul. The new containership, which was constructed at Jiangsu New Yangzi Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design
Stanford Marine, a regional offshore marine business, announced today from its Dubai headquarters the delivery of the latest addition to its fleet. Stanford Mustang, a 50m DP2 Anchor Handling Tug was specially designed to handle a specific charter in Qatar and was built at Fujian Mawei shipyard
Rates for capesize bulk carriers on key Asian routes are set to slide next week as too many ships chase too few cargoes from Australia and Brazil, brokers said. There are around 32 capesize ships in ballast and currently available for charter
Maersk Tankers, a unit of A.P. Moller-Maersk, said on Thursday it had quit four unprofitable crude oil charter contracts by buying out supertankers and selling them onwards, continuing its exit from crude oil transportation. The company now has charters for just two supertankers
Otto Marine Limited, an offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, informed that the group has secured charter contracts worth approximately $404 million in the first half of 2014 (1H2014).