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Genco to Sign Time Charter for Newly Acquired Vessels

Genco Shipping & Trading Limited announced that it has reached an agreement to enter into a time charter for two vessels it has recently agreed to acquire. The Genco Constantine, a Capesize newbuilding, is scheduled to be on charter with Cargill International S.A. for 54 to 62 months at a rate of $52,750 per day, less a 5% third party brokerage commission. The time charter for the Genco Constantine includes a 50% index-based profit sharing component. In addition, the Genco Warrior, a 2005-built Supramax vessel, is scheduled to be on charter with Hyundai Merchant Marine Co. Ltd. for 35 to 37.5 months at a rate of $38,750 per day, less a 5% third party brokerage commission.


Genco to Sign Time Charters for Drybulk Vessels

Genco Shipping & Trading Limited announced it has reached an agreement in principle to enter into a time charter for the Genco Carrier, a 1998-built Handymax vessel, with Pacific Basin Chartering Ltd. The Company also reached an agreement in principle to extend the time charter for the Genco Wisdom, a 1997-built Handymax vessel, currently on charter with Hyundai Merchant Marine Co., Ltd. Both time charters would be for eleven to


Three Tankships Chartered by BAHRI

Saudi Arabia's National Shipping Company of Saudi Arabia (BAHRI) & National Chemical Carriers Company Ltd. (NCC) ink long term charter deal. The National Shipping Company of Saudi Arabia (BAHRI) announces that its 80% owned subsidiary The National Chemical Carriers Company Ltd. (NCC) signs time charter agreements for three chemical tankers with International Shipping and Transportation Company Ltd. (a subsidiary of Saudi Basic Industries Corporation) for a period of 5 years


Evergreen to Charter 11 Containerships

From left: K.W. Chang, Evergreen Group Vice Group Chairman; Anchor Chang, Chairman of Evergreen Marine Corporation; Raymond Lin, Evergreen Group Vice Group Chairman; Bronson Hsieh, Evergreen Group Second Vice Group Chairman; Toshiyuki Higaki, Chairman of Shoei Kisen Kaisha; Kaoru Iwasa, Senior Managing Executive Officer of Marubeni Corporation; Yukito Higaki, President of Shoei Kisen Kaisha; and Shigefumi Mabuchi, Chairman of Marubeni Corporation Taiwan (Photo: Evergreen)

Evergreen Group signed time charter agreements with Shoei Kisen Kaisha, Ltd. (Shoei) to charter a total of 11 18,000 TEU vessels, which include the six units of the same capacity announced by Evergreen Marine Corp. (EMC) and its subsidiary last December. The charter parties were signed by EMC's Chairman Anchor Chang and Shoei's President Yukito Higaki. The ships are planned to be delivered from 2018 through 2019.  


Aker Philly Shipyard Lays Keel for Tanker

Aker Philadelphia Shipyard has layed the keel for the second vessel in the series, the sixth ship constructed at the yard since it started production in 2000. The first section of the double-hulled product tanker scheduled for completion in 2007 was installed in the yard’s Building Dock just a few hundred yards behind the first ship in the series, also currently under construction in the dock. When completed, each vessel will weigh 46


Stelmar Announces Two Time Charter Contracts

Stelmar Shipping Ltd. announced that it has signed the Aquamar and the Maremar, two modern double hull Handymax vessels purchased from the proceeds of the company's recent offering, to profitable time charter contracts. Both tankers currently trade in the spot market and are expected to be deployed on these time charters during the second half of August 2002. The Aquamar, a 1998 double hull product tanker delivered on July 15, 2002


Genco Plans to Sign Time Charter

Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to enter into a time charter for the Genco Vigour, a 1999-built Panamax vessel, with Global Maritime Investments Ltd. for approximately 10.5 to 13.5 months at a rate of $24,000 per day, less a 5% third-party brokerage commission. The time charter is expected to commence on or about January 8, 2010 following the expiration of the vessel's current time charter and is subject to the completion of definitive


Qatargas 4 Signs LNG Timecharter

Qatargas 4 signed a time charter agreement with Nakilat to use eight of the latter’s mega LNG tankers to ferry liquefied natural gas to QG4 customers worldwide, according to a report on www.gulf-times.com. Four of the eight vessels are in the Q-Flex and the others in the Q-Max categories. In February, Nakilat had signed with Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering Company for the construction of four Q-Flex and four Q-Max class vessels


Seaspan Signs Contract for Five Ships

Seaspan Corp has signed contracts for Samsung Heavy Industries Co Ltd to build five new 4,520 TEU container ships. Seaspan has also completed more than $900 million in debt financing with a long-term fixed interest rate of less than 6 percent. The company has signed 12-year time charters for the vessels with Kawasaki Kisen Kaisha Ltd, Japan's third-largest liner operator. The five new vessels are due to be delivered in 2010 and 2011


Oman Signs Pacts with Ship Classification Bodies

Photo:  Ministry of Transport and Communications

 Oman’s Ministry of Transport and Communications (MoTC) has signed agreements with three ship classification societies for small ships that do not abide by international treaties, said a report in Times of Oman.   The agreements were signed with the British (Lloyds Register of Shipping), Italian (Rina) and Emirati (Tasneef) ship classification societies.   Saeed bin Hamdoon bin Saif Al Harthy, undersecretary of Ports and Maritime Affairs


Louisiana Cat: A ‘Gold Level’ Cat Propulsion Dealer

Erika Hamrick, Cat Marine Regional Sales Manager Americas (left), officially recognizes Robert “Bobby” Webb, CEO at Louisiana Cat, as the first Cat Propulsion Dealer in the Americas (center). Also pictured is Mike Jennings, General Manager (right). (Photo: Louisiana Cat)

Erika Hamrick, Cat Marine Regional Sales Manager Americas officially recognizes Robert “Bobby” Webb, CEO at Louisiana Cat as the first Cat Propulsion Dealer in the Americas (left) Official document signing at the Reserve, La headquarters by Erika Hamrick and Bobby Webb


India, Korea Sign Pact for Seafarers Certificate

Indian PM Narendra Modi and the President of Republic of Korea, Ms. Park Geun-hye in Seoul. Photo: Narendramodi.in

 The Government of India has given nod for a pact between India and Korea that would pave the way for recognition of each other's certificates on maritime education and training for seafarers.   The decision was taken by Union Cabinet at its meeting chaired by Prime Minister Narendra


IWAI Signs MoUs Dredging Corporation

Photo: WRIS

 Development of Inland Water Transport is a priority of the Ministry of Shipping. After the declaration of 106 new National Waterways, in addition to the existing 5 National Waterways, under the National Waterways Act, 2016, the responsibilities of Inland Waterways Authority of India (IWAI)


Shipbuilding Consolidation: Luerssen Acquires Blohm+Voss GmbH

PHOTO: Betriebsteil Lemwerder©Wolfgang Kundel (terra-air service)

Family owned and Bremen based shipyard, Luerssen acquired storied shipyard Blohm+Voss in Hamburg, the company announced on Wednesday, September 28, 2016.   With the acquisition of Blohm+Voss, Luerssen said it is entering into a long-term relationship to strengthen its portfolio in the


Carnival Signs MOA for First New Cruise Ships Built in China

Photo: Carnival

Carnival Corporation & plc has announced that its cruise joint venture in China has signed a non-binding memorandum of agreement (MOA) to order the industry’s first new cruise ships built in China for the Chinese market. The MOA is subject to several conditions including closing of the


Fincantieri, CSSC Ink Chinese Cruise Ship Deal

Courtesy Fincantieri

During the 11th annual “China Cruise Shipping and International Cruise Expo”, which started today in Tianjin, Fincantieri and China State Shipbuilding Corporation (CSSC), signed a non-binding agreement with Carnival Corporation and CIC Capital Corporation (CIC Capital) for the


MAN Extends Relationship with Mercy Ships

Photo: MAN Diesel & Turbo

At a signing ceremony at the SMM 2016 Marine Trade Fair in Hamburg, MAN Diesel & Turbo expanded its partnership with Mercy Ships, international provider of charitable healthcare.   Under the terms of the agreement, MAN Diesel & Turbo’s after-sales division, MAN PrimeServ


Chemgas Shipping Inks Maintenance Deal with Alphatron

From left to right: Arie van der Ven, Manager Maintenance & Projects Chemgas Shipping; Luuk Vroombout, CEO Alphatron Marine; and Dennie van Kempen (QSHE Manager).

Alphatron Marine has signed a premium member contract with Chemgas Shipping covering eight gas carriers.   The Gas Carriers are fitted mainly with bridge equipment which Alphatron Marine has many years of experience of installing and also supporting these and other high tech navigation and


Four Baltic Sea Ports Pact for Onshore Power Supply

Photo: Port of Turku Ltd

 Four Baltic Sea ports, namely Estonia’s port of Tallinn, Swedish ports of Stockholm and Finland’s ports of Helsinki and Turku, signed a Memorandum of Understanding (MoU) aiming for a common approach for a new onshore power supply for vessels.  


Damen Establishes Caribbean Repair Yard

René H. Berkvens, Damen Shipyards Group CEO; Eugene Rhuggenaath, Minister of Economic Development; and Getmar Caldera, Managing Director CDM Holding (Photo: Damen)

On Friday, September 9, the government of Curaçao and Damen Shipyards Group signed a concession agreement for the future operation of the current Curaçao Drydock Company, enabling Damen to establish a new company on Curaçao under the name Damen Shiprepair Curaçao.


NAUTIS FMB Simulator for AKMI Cirebon

The Akademi Maritim (AKMI) Suaka Bahari Cirebon

The Akademi Maritim (AKMI) Suaka Bahari Cirebon has selected VSTEP for the supply of one DNV Class A FMB Simulator to train its students in accordance with the latest IMO requirements and model courses. On August 22, 2016, VSTEP and its local distributor PT Megatech Mandiri Setia have been


Controversy on Hyundai Joining 2M Alliance

Photo: Hyundai Merchant Marine Co.

 The world’s largest shipping alliance 2M partners - Maersk Line and Mediterranean Shipping Co  (MSC) -  have been quick to offer shippers an alternate service on the transpacific trade in the wake of Hanjin Shipping’s collapse.  


Port Everglades, Panama Canal Renew Partnership

Port Everglades joins the Panama Canal Expansion Celebration in June with Chief Executive Steve Cernak (middle), joined by Port Tampa Bay CEO Paul Anderson (right), presenting a plaque on behalf of the Florida Ports Council for a presentation to Oscar E. Bazán V., Executive Vice President, Planning and Business Development, Panama Canal Authority (left).

Port Everglades and the Panama Canal Authority (ACP) have renewed their long-standing Memorandum of Understanding (MOU) to promote trade opportunities for another five years. This renewal will extend their strategic alliance to 2021. The MOU solidifies both entities' dedication to growth and


Kenya Commissions Terminal at Mombasa

Kenya on Saturday inaugurated the first part of a new container terminal at Mombasa which is expected to boost by 50 percent the volume of cargo handled by East Africa's largest seaport. Construction of the 30 billion shilling ($296.74 million)terminal began in March 2012 and was completed in


Port of Antwerp Invests for First Time in West Africa

Photo: Port of Antwerp

 The port of Antwerp and the port of San Pedro in Côte d’Ivoire are to collaborate over the next few years to manage further expansion of this West African entrepot.    San Pedro, the leading cacao port in the world






 
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