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Ship Chartering

Container Ship Charter Rates Seen Surging In 2001

Container ship charter rates are reportedly set to recover from their current depression by 2001, according to shipping analysts.


Stena Oil Complain of Ship & Cargo Confiscations

The two consfiscated tankships: Photo credit Stena Oil

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.


Fednav - Complete IMOS Solution

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


Otto Marine Charters PSV Otto Explorer

Otto Explorer.jpg

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 3Q2014 Earnings at $2 mi

Courtesy Otto Marine

 * 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


Otto Marine Secures $131 mln in New Contracts

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


U.S. Military Charters Bollinger/Incat TSV

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.


CP Ships Report 3Q Results

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.


BMT Completes Berth Capacity Study

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


Restructuring Pays Off: Indonesian Shipyard Wins Orders

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.


Pacific Basin Returns to The Black

Pic: Pacific Basin

 Pacific Basin Shipping cut its half-year underlying losses by 32 per cent to US$14.6 million from a year ago, thanks to stringent cost-cutting efforts that helped it mitigate an anaemic dry-commodities shipping market.   Hong Kong-listed Pacific Basin


BBC Chartering Opens Vietnam Office

BBC Oregon Courtesy BBC

BBC Chartering announces the opening of a new representative office in Ho Chi Minh City, Vietnam, starting August 1st breakbulk, and general cargo transportation due to good prospects and growth rates outperforming other countries in the region.


Diana Shipping Nets 2Q Loss

Logo

  Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.7 million and net loss attributed to common stockholders of $7


Diana Charters Containership to Maersk

m/v Great (Photo: Diana Containerships)

Container shipping company Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Great.   


Ocean Yield to Acquire Four LR2 Product Tankers

Pic: Navig8 Product Tankers

 Norway’s Ocean Yield ASA has agreed to acquire four 115,000 dwt LR2 product tankers which are currently on order from Navig8 Product Tankers at Sungdong Shipbuilding in Korea.   Ocean Yield has agreed to acquire the product tankers for a total consideration of USD 198


Diana Finds Work for Panamax Duo

Dianas Panamax

  Diana Shipping Inc., today informed 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 Naias. The gross charter rate is US$6,800 per day minus a 4


Vallianz Signs $458mln Contracts to Extend OSV Charters

Image: Vallianz Holdings

 Singapore's Vallianz Holdings has signed new contracts worth up to US$458 million (S$628 million) that involve lengthening the charter duration of 19 of its offshore support vessels (OSV) with an existing customer in the Middle East.  


Vallianz Bags $ 458 Mln in Charter Renewals

Courtesy  Vallianz Holdings Limited

  Vallianz Holdings Limited a fast growing provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has signed new contracts valued up to US$458 million that has lengthened the charter duration for 19 of its offshore support vessels currently deployed


U.N. Ship Brings Aid to Yemen

A ship carrying enough U.N. food aid to feed 180,000 people for a month docked at the Yemeni port of Aden on Tuesday, having waited for almost four weeks, a World Food Programme spokesman said. Aden and the other southern provinces of Yemen have been largely inaccessible to U.N


Asia Dry Bulk-Capesize Rates Steady

Brazil-China capesize rates hit seven-month high; Pacific capesize market dragged by buoyant tonnage supply. Freight rates for capesize bulk carriers are likely to hold steady next week although a rush of cargo in the Atlantic would again provide the trigger for rates to move higher


DryShips Announces Write-Off of Receivables

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, has announced  the agreement with one of its charterers to write-off about $16


Transgrain Charters Diana Panamax Bulker

m.v. Clio

  Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that on July 8, 2015, through a separate wholly-owned subsidiary, it entered into a time charter contract with Transgrain Shipping B.V


NewLead Holdings Announces Commercial Competency of MT Sofia

MT Sofia Photo Newlead

   NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet. The Sofia is a 2008-built bitumen tanker vessel of 2


Ghana to Roll out Shipping Training

Image: Institute of Chartered Shipbrokers

 Ghana is considering establishing modalities to compel shipping companies to introduce a training regime which ensures that their local staff gain professional qualifications in shipping.   “Maintenance of professional standards in the maritime industry has been one of the


Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v Rotterdam and the m/v Hamburg.






 
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