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
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany
Diana Shipping Inc. today reported a net loss of $17.4 million and net loss attributed to common stockholders of $18.8 million for the third quarter of 2015, compared to net income of $7.7 million and net income attributed to common stockholders of $6
Oman Shipping Company (OSC) has performed the naming ceremony for two new product and chemical tankers – the Muscat Silver and Rustaq Silver. The ceremony took place at the Hyundai Mipo Dockyard in Ulsan, South Korea. OSC will now take delivery of the Muscat Silver as part of a deal
* Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015.
Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months. It has posted a gross revenue increase of 11.8 per cent in the first half of 2015 worth USD 754
VLCC market to be "hot" in Q4 -VLCC broker. Freight rates for very large crude carriers (VLCCs) face a roller-coaster ride on uncertain cargo volumes and vessel supply ahead of a fourth-quarter boom, brokers said. Charter rates, which have rebounded sharply
NewLead Holdings Ltd. announced today that the Company has entered into a new time charter contract for one of its bitumen tanker vessels, the MT Newlead Granadino for a minimum of six months with the charterer's option to extend the contract at the end of the first six months for
Danaos Corporation announced today the acquisition of three vessels through a newly-formed joint venture, capitalizing on depressed asset prices in the resale market. The vessels were acquired by Gemini Shipholdings Corporation, a newly-formed entity ("Gemini") beneficially
Seaspan Corporation has accepted delivery of a 14,000 TEU containership new build, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14,000 TEU SAVER design containership and eighth delivery in 2015.
Seaspan Corporation announced today that it accepted delivery of a 14000 TEU containership, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14000 TEU SAVER design containership and eighth delivery in 2015.
Diana Shipping Inc. today announced that through a separate wholly-owned subsidiary, it entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Melite. The gross charter rate is $7,250 per day minus a 4
FSL Trust Management Pte. Ltd. (FSLTM), as the trustee-manager of First Ship Lease Trust (FSL Trust), announced that FSL Trust has entered into a memorandum of agreement to purchase a 2007, Japanese-built, 45,998-dwt MR product tanker for $21.8 million.
China Shipping Group's CSCL has agreed a deal to bareboat charter up to 11 units of 21,000 teu containerships, of which five will be options exercisable after six months of charter for the first six ships, says local media reports.
Seaspan Corporation, a large owner of containerships that charters vessels to liner companies, improved its revenue as well as net result in the first nine months of 2015, a development mainly attributed to new ships delivered this year, notes management.
Global Ship Lease (GSL) has reported negative result for the third quarter of the year mainly due to impairment charges related to two vessels. Company reported revenue of $42.18 million. The estimated revenue was of $39.92 million. Earnings per share were $0.08