Container ship charter rates are reportedly set to recover from their current depression by 2001, according to shipping analysts.
The West African republic of São Tomé e Príncipe has wrongfully confiscated two ships chartered by the Swedish oil company Stena Oil, including the cargo. The captains have been sentenced to 3 years imprisonment and charged with "smuggling" in a show trial, claim Stena Oil. In addition a fine of 5 million EUR has been imposed, and the vessels and cargo have been confiscated by the state of São Tomé.
Otto Marine Limited announced that it has successfully found a charter for its MT6009 PSV, named Otto Explorer. The vessel will be chartered out to the Group’s subsidiary, Singapore-based Reflect Geophysical Pte Ltd, on a bare boat charter for a contract term of 7+1+1+1 years. The MT6009 PSV, a Multi Purpose Field Support Vessel (Hull 7037), is the first of her kind to be built in Asia on a turnkey basis. The MT6009 PSV is a DNV Class
Otto Marine Limited, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, has announced that in the second quarter of financial year 2015 (Q2FY2015) till date, the group has secured new orders worth $131 million, primarily contributed by the chartering business. The substantial increase in new chartering contracts was attributable to the group’s strategy to improve the utilization rate of
Go Offshore, wholly-owned subsidiary of Otto Marine has entered into an agreement for two long-term anchor handling tug supply (AHTS) charter contracts worth USD25.2 million with a large oil and gas company. The two contracts are in respect of two 16,000 brake horsepower (bhp) large anchor handling tugs supply vessels. None of the Directors or controlling shareholders of the Company has any direct or indirect interest on the above transaction other than through
Sinotrans Shipping has ordered four new energy-saving containerships of 1,900 teu in capacity each at CSSC Huangpu Wenchong Shipbuilding Company for $98.2mln. The four newbuildings, each costing $24.55m, are scheduled to be delivered from the shipyard in May, June, September and November 2017, respectively. A 10% deposit has been placed by Sinotrans with the balance payable in four instalments.
CP Ships Ltd. was able to report a 37% increase in net income in the third quarter despite higher costs, due to continuing general improvement in industry conditions. The company said its operating profit in the latest quarter was the highest since it went public in October 2001. Third-quarter net income was $33 million or 36 cents a share, up from $24 million or 27 cents a year earlier. The Thomson First Call mean estimate was for net income of 41 cents in the latest quarter.
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
Singapore-based Otto Marine contracted to fabricate 4 pre-erected columns & pontoon blocks worth S$6.3-million. Otto Marine Limited, an offshore marine company which specialises in building complex offshore support vessels, ship chartering and offers ship repair and conversion and fabrication services, announce that PT Batamec, its Indonesia-based shipyard, has secured contracts to fabricate, assemble and deliver pre-erected columns and pontoon blocks.
* Group revenue increased by 16.8% to US$ 96.8 million for 3Q2014, higher revenue across all the three business segments * Offshore Chartering, as the major revenue and profit generator, registered higher profit even as overall market was weak * Strong order book of US$494 million as at 30 September 2014 Otto Marine Limited, specializing in building complex offshore support vessels, ship chartering and offers specialized offshore services
Australia-China rates could climb on improved weather. Brazil-China rates to hold steady, fall on lack of charters. Freight rates for large capesize dry cargo vessels on key Asian routes could diverge next week with rates from Australia to China rebounding on improved weather
Diana Shipping , through a separate wholly-owned subsidiary, has agreed to extend the present time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Aliki. The global shipping company specializing in the ownership of dry bulk
Marco Polo Marine Group Group recorded a revenue of S$11.4 million in Q1FY2017, a decrease of 33% from that of S$17.0 million in Q1FY2016. Relative to Q1FY2016, the Ship Chartering Operations’ revenue of the Group decreased by 31% to S$4.4 million in Q1FY2017
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with SwissMarine Services, Geneva, for one of its Capesize dry bulk vessels, the m/v Houston
Greek dry bulk shipping company Diana Shipping has entered into time charter contracts for its two vessels, the M/V Orleans and the M/V Melite, which are scheduled to start in December 2016. "Diana Shipping, through a separate wholly-owned subsidiary
Chartering activity falls as holidays loom; Rio Tinto offering rates 5.5 pct lower than index level. Freight rates for large capesize dry cargo ships on key Asian routes will slide further next week in a lacklustre chartering market ahead of Christmas, ship brokers said.
Diana Shipping Inc. Announces a Reduction of the Contract Price to the Shipbuilding Contracts of Two Newbuildings; Time Charter Contracts for m/v Newport News with SwissMarine and for m/v Leto and m/v Naias with Glencore Diana Shipping Inc
Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help
Despite lower rates, rental prices doubled from last year; capesize vessels totalling 15 million DWT to be delivered this year - broker. Freight rates for large capesize dry cargo ships on key Asian routes are likely to drift lower as tonnage volumes outpace cargo demand even as owners
Unipec charters 20 VLCCs for West Africa, MidEast cargoes; China's oil demand to climb 3.4 pct this year - CNPC. Freight rates for very large crude carriers (VLCCs) are expected to remain stable next week as buoyant chartering activity from the Middle East is offset by the large number of
Diana Shipping has signed a time charter agreement with Koch Shipping Pte. Ltd, Singapore, for one of its newcastlemax dry bulk vessels. Under the agreement, Koch will employ the 208,500 dwt newbuilding, to be named San Francisco, for a gross charter rate of $11,750 per day
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$12,000 per day, minus a 4
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva.
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Caravel Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione, for a period of minimum nine (9) months to about twelve (12) months