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 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
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
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
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 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.
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
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 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
Construction of a Chinese-funded port and special economic zone in Tanzania worth at least $10 billion will start in July 2015, the president's office said in a statement on Monday, for the first time setting a start date for the delayed initiative. Tanzania aims to build a huge port at Bagamoyo, 75 km (47 miles) north of commercial capital Dar es Salaam, the site of the country's main port, where shippers complain of congestion and inefficiencies.
Striking Israeli dockworkers defied a court order on Thursday and shut down the country's two main seaports for a second day in protest at the creation of two new foreign-run ports. Spokesmen for the ports of Ashdod and Haifa said 2,400 workers had left their posts and union leaders had gone
DMCC has signed a Memorandum of Understanding (‘MoU’) with the Dubai Maritime City Authority to help promote Dubai to the maritime sector as a global destination for companies wanting to set up and expand into the GCC and MENA region.
Iran's Mehr news agency said that Iranian Foreign Minister Javad Zarif and Omani Foreign Minister Yusuf bin Alawi have announced that the two countries have agreed to demarcate a previously undefined stretch of maritime border.
The U.S. oil market is on the brink of returning to a more bullish footing known as backwardation for the first time in six months, with the discount for prompt supplies vanishing as a domestic supply glut eases. The discount for prompt U.S
A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic, saying the region has a severely limited capacity to respond to accidents.
Alaska's lone road to North Slope oil field operations remains closed for the third time in two months while emergency crews continue to redirect flooding from an adjacent river, state officials said on Friday. Alaska Governor Bill Walker's office said he would sign a second disaster
Huawei Marine has signed a system design and construction agreement with a consortium comprising Telekom Malaysia Berhad, Symphony Communication and Telcotech to build the Malaysia-Cambodia-Thailand (MCT) submarine cable system.
The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs), with an option for additional five more vessels, the company said in a bourse statement.
UK-based engineering firm signs service agreement to provide direct services to vessels in ASRY, expanding the list of the yard’s onsite specialist contractors. ASRY, the leading ship and rig repair yard in the Arabian Gulf, has signed a specialized Services Agreement with Relay
Eco-friendly HullWiper technology to fight fouling and enhance efficiency for oil and gas company fleet GAC EnvironHull has signed a contract with the international energy company Statoil to provide underwater hull cleaning services for its vessels operating in Scandinavia
A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe.
China's biggest oil and gas company China National Petroleum Corp.(CNPC ) has expressed interested in a terminal in Kyaukphyu in Myanmar to receive imported Liquefied natural gas (LNG). China National Petroleum Corporation has proposed developing a terminal in Kyaukphyu
SITC International signed a strategic cooperation agreement with Qingdao Port International Co., Ltd. in Qingdao yesterday in order to further strengthen the strategic cooperation in the port and logistics market. Mr. Zheng Minghui, Chairman of Qingdao Port Group, Mr
Bahri ordered five newbuild very large crude carriers from Hyundai Samho Heavy Industries The National Shipping Company of Saudi Arabia (Bahri) today signed an agreement with Hyundai Samho Heavy Industries (HSHI) Co. Ltd. to build five very large crude carriers (VLCC)
The world’s biggest nuclear-powered icebreaker keel laying ceremony took place of at the Baltic Shipyard on 26 May 2015. Heads of Atomfflot, the Baltic Shipyard and the RS Branch Office for Nuclear Vessels signed a Keel Laying Acceptance Report of the first serial nuclear-powered