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
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
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
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.
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
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
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
As Team Britannia prepares for its bid to break the round-the-world powerboat record later this year, GAC has been named their official shipping and logistics partner. GAC will draw on the local contacts and expertise of its network of global offices and partners to provide the 80ft powerboat
Petroleum Geo-Services ASA reported revenue fall in their recently released Second Quarter and First Half 2016 Results. It logged a healthy MultiClient Sales and continues to undertake cost reductions. Highlights Q2 2016 * Revenues of $183.0 million, compared to $255
Maersk Line has signed a five-year carbon reduction pact with Huawei Technologies, a global leading telecom solutions provider and the world’s third largest mobile phone manufacturer. The key to Huawei’s success is positioning itself as an innovator and thought leader in
Last week Antwerp Port Authority signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran. Bandar Abbas accounts for 90% of the in- and outgoing containers of Iran and for nearly half of the 200 million tonnes of freight handled by
Rolls-Royce has signed a contract worth about $33m with the ship building company Kleven in Norway for design and ship equipment to two new polar cruise vessels, with an option for two additional vessels. The contract between Kleven and Rolls-Royce follows the conversion of a letter of
On July 15, 2016, Victoria International Container Terminal (VICT) signed a syndicated loan facility worth AUD 398 million (approximately USD 300 million) with seven leading global financial institutions, namely: Citibank N.A., KFW IPEX-Bank
Hyundai Merchant Marine (HMM) will start the process to appoint a new chief executive officer (CEO) when Hyundai Group loses control on Aug. 5, reports Korea Times quoting un-named industry sources. The challenged shipper will begin a new chapter in its 40-year history
The SENER engineering and technology group signed a contract last year with the U.S. based shipbuilder Fincantieri Marine Group for the license to use SENER’s FORAN System. FORAN is currently in use at one of the company’s shipyards, Fincantieri Bay Shipbuilding (FBS)
The Indian state of Andhra Pradesh (AP) Andhra Pradesh will soon have a world class maritime university. AP has signed a Memorandum of Understanding (MoU) with Russia's State Marine Technical University to promote marine education and technology.
Marine technologies and system integrator Elcome International has signed fleet service agreements with two major ship operators in the Middle East, the company announced today. Elcome will provide shore-based maintenance and service for navigation
A recent partnership between Sembcorp Marine and GE aims realize one of the most challenging offshore projects in recent times for Heerema’s new Semi-Submersible Crane Vessel (SSCV) Sleipnir, which at 220 meters long and 102 meters wide, will be the world’s largest crane vessel.
The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,539 dwt. The 2005 Japanese built vessel is expected to join the Company’s fleet in Q2 FY17. The Company’s current fleet stands at 33 vessels
Inmarsat announced that its partner Network Innovations (NI), together with Fusion Marine Technology, have signed a contract with Alaskan Leader Fisheries to install Fleet Xpress, Inmarsat’s new high-speed broadband maritime communications service, powered by Global Xpress (GX).
Today, another milestone agreement was reached as Panama Canal Administrator and CEO Jorge L. Quijano and PortMiami Director Juan M. Kuryla renewed a Memorandum of Understanding (MOU) to promote trade opportunities and share best customer practices.
Norwegian oil-well service workers and their employers signed a new wage deal late on Thursday, avoiding a strike, said the Norwegian Oil and Gas Association (NOG), which represents employers. A strike would not have had any immediate impact on production, according to the NOG.