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
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
BMT Isis (BMT), a subsidiary of BMT Group, the international engineering, maritime and risk management consultancy, has recently completed a berth capacity study for Knauf ahead of significant planned investment for its jetty located on the Swale in the south east of England. The Grovehurst Jetty near Ridham Dock is operated by Knauf to import and transport gypsum to its factory in Sittingbourne, Kent where the mineral is used to produce plasterboard
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.
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.
The U. S. Military Sealift Command has chartered a 319-ft. (97.22M), high speed catamaran theater support vessel (TSV), now under construction at Hobart, Tasmania, Australia from Bollinger/Incat USA, LLC, for use as a test platform by the U. S. Navy’s Mine Warfare Command. The one-year lease has options for up to an additional 47 months and is the third similar vessel chartered from Bollinger/Incat by elements of the U. S. Department of Defense.
United Nations Secretary General Ban Ki-Moon has welcomed the recent action taken by the International Maritime Organization (IMO) to address the threat of piracy and armed robbery against ships off the coast of Somalia as both timely and appropriate and has stated his intention to raise the matter with members of the UN Security Council on his return to New York. At a meeting in London today, IMO Secretary-General, Mr. Efthimios E. Mitropoulos, briefed Mr
Diana Shipping Inc has signed a contract for one of its dry bulk vessels at $13,000 per day, 76 percent below the ship's previous charter rate Diana chartered its dry bulk carrier the Salt Lake City to Morgan Stanley Capital Group Inc with effect from August this year, reports Reuters. Rates for dry bulk vessels, which transport commodities such as coal, iron ore and grain, crashed in the last four years as the delivery of a large number of new ships coincided with a global economic downturn
OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014. Highlights:
US Department of Defense informs of placement of contracts for Chesapeake Bay dredging, dry-docking of USS Pearl Harbor, and charter of surface escort vessels. Details as follows: 1. Dredging Norfolk Dredging Company, Chesapeake, Virginia, has been awarded $18,784
Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term strategy confirmed: its newly founded DOT Shipping partnership with Grupo Diavaz and the subsequent approval of the Mexican Energy Reform
The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party. As announced by Euronav in March 2013, the company is entitled to a share of the profit should the selling price exceed a
Otto Marine says it has clinched AUD57-million worth of charter contracts in Australia for two of its large deep water AHTS vessels. Otto Marine Limited, which owns and operates a large fleet of offshore support vessels, with shipyard and other specialized offshore services
Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached an agreement with an unrelated third party to purchase an MR product tanker that is currently under construction at SPP Shipbuilding Co., Ltd. of South Korea ("SPP")
Tsakos Energy Navigation Limited (TEN) announced today the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months respectively with charterers options for another 12 months for each vessel at an accretive base rate with profit sharing
GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder
Tsakos Energy Navigation Limited (TEN) announced the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months, with charterer options for another 12 months for each vessel at a base rate with profit sharing
Navigator Holdings Ltd. announced today that it has signed a long term shipping agreement for one of its 35,000 cubic meter ethylene/ethane capable semi-refrigerated liquefied gas carriers, currently being built at Jiangnan Shipyard, China.
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that it has signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels
Solent Towage Ltd (STL) reports that is has saved more than 60-man hours since December 2013 by installing gplink, the remote monitoring and tracking solution from Finning Power Systems (Finning) for Cat engines. The company operates a fleet of seven tugboats off the UK’s south coast
Women’s International Shipping and Trading Association (better known as WISTA), was launched in Sri Lanka on the 03rd July 2014, at the Hilton Residencies Colombo amidst a
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it has signed a new Memorandum of Agreement (MOA) with the American Bureau of Shipping (ABS), establishing policies and procedures for the survey and classification of MARAD’s National Defense Reserve
Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from