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 $24 million or 27 cents a year earlier. The Thomson First Call mean estimate was for net income of 41 cents in the latest quarter.
Veson Nautical, the US-based developer of software solutions for the commercial maritime community, announced that Fednav Limited of Montreal, a Canadian ocean-going, dry-bulk ship owning, operating and chartering group, has chosen to implement the full complement of Veson Nautical’s Integrated Maritime Operations System (IMOS). Fednav Limited will implement IMOS to manage their chartering and operations departments worldwide as well as link IMOS to their present accounting system
BMT Isis (BMT), a subsidiary of BMT Group, the international engineering, maritime and risk management consultancy, has recently completed a berth capacity study for Knauf ahead of significant planned investment for its jetty located on the Swale in the south east of England. The Grovehurst Jetty near Ridham Dock is operated by Knauf to import and transport gypsum to its factory in Sittingbourne, Kent where the mineral is used to produce plasterboard
* Group revenue increased by 16.8% to US$ 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 entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels
Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Aliki. The gross charter rate is US$5,300 per day
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 entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany
Total charters VLCC to move diesel from Asia to Europe; Vitol ships diesel from Asia to Europe in Suezmax. At least two companies are planning to ship diesel in bigger-than-usual tankers from Asia to Europe in what traders said is a rare move as cheap oil drives up diesel supply and slowing
* 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.
Diana Shipping Inc. today announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles
BBC Chartering announces the opening of a new representative office in Beijing, People’s Republic of China, starting immediately. “We are responding to the increased activity for project and heavy lift shipping services from Asia and on intra-Asia trades
Global Ship Lease, Inc has completed the sale of its 1997-built, 4,113 TEU containership, Ville d'Orion, following redelivery from its previous charter. The vessel was sold for $328.25 per ldt, for estimated net proceeds of $4.5 million.
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 agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany
Ship Finance International Limited (SFL), announced today that it has agreed to build two 114,000 dwt LR2 oil product carriers at a shipyard in Korea. The vessels are scheduled to be delivered during the second half of 2017 and will thereafter commence long term time-charters to a US based
Ocean Yield ASA has agreed to certain amendments to the charter agreements with Höegh Autoliners (Höegh) for four PCTC vessels on long term charter. Ocean Yield currently has two newbuilding PCTC vessels of 8,500 CEU capacity under construction at Xiamen Shipbuilding
Chinese shipping major Sinotrans has signed with Greek shipowner Dynagas and China LNG Shipping (CLNG) for the joint purchase of five Arctic-class LNG carriers from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).
Diana Shipping Inc. announced today 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 Kamsarmax dry bulk vessels, the m/v Myrto, a 82,131 dwt ship built in 2013
BBC Chartering announces the opening of a new representative office in London, United Kingdom, starting immediately. “We continue to strengthen our position at important shipping hubs for breakbulk, heavy lift and project cargo”, said Svend Andersen, CEO of BBC Chartering
Otto Marine Limited, an offshore marine company specializing in building complex offshore support vessels, ship chartering and offers specialized offshore services, has announced that its wholly-owned subsidiary, Otto Marine Shipyard Pte Ltd