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
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.
Spanish ferry operator Baleària has signed up to AkzoNobel’s carbon credits program. The company has enrolled its passenger ferry Martin i Soler into the scheme, which financially rewards ship owners by enabling them to generate income in the form of carbon credits earned by reducing
Navios Group has agreed to acquire another 14 vessels from HSH Nordbank in the second major distressed fleet deal between the two parties in the past two years. HSH Nordbank and the Navios Group have signed a binding letter of intent for the acquisition of 14 ships at serious risk
The Union Cabinet of India has given its approval for signing of a shipping agreement between India and Jordan. The Union Cabinet was chaired by Prime Minister Narendra Modi. An official press release said the government had decided to sign the agreement with a view to
Stena Bulk has signed an agreement covering the charter of the LNG carrier Stena Blue Sky for the North West Shelf Project in Australia. The duration of the charter is up to three years with a possible further extension as a goal. The contract was signed at current market freight rates
The Maritime and Port Authority of Singapore (MPA) and the Port of Rotterdam Authority have signed a Memorandum of Understanding (MOU) to exchange information on marine services and jointly collaborate on research and development in the areas of service efficiency and optimisation
U.S. firms leverage Netherlands-based Damen Shipyard’s vessel designs and technical support. For nearly 40 years, Damen Shipyards Group in the Netherlands has licensed its vessel designs and technical support to yards owned by other companies
Netherlands-based Royal IHC today named and launched new pipelaying sister vessels, Sapura Jade and Sapura Ônix, in ceremonies at the company’s shipyard in Krimpen aan den IJssel, The Netherlands. Sapura Jade’s naming was performed by Belle de Bruin
A 5-kilometer fun run will be held at Norway’s Nor-Shipping conference on June 1 to benefit The Mission to Seafarers. Starting in Oslo city centre, the scenic course will takes runners along the Oslofjord, finishing at the Norwegian Maritime Museum
Despite positive growth momentum, the container shipping industry continues to suffer new, big ship deliveries with no let-up to the ordering frenzy according to the Container Forecaster, published by Drewry Maritime Research. Drewry forecasts another year of excess growth in relation to
The Meyer family, operating the shipbuilding company Meyer Werft in Germany, and the Finnish State acquired Turku shipyard from STX Europe in September 2014. Meyer Werft took up 70 percent of the shares, and the State of Finland purchased 30 percent of the share capital through the Finnish
UK subsea equipment manufacturer Specialist Machine Developments (SMD) has been acquired by Zhuzhou CSR Times Electric Co, a subsidiary of Chinese company CSR Corporation. The two companies have signed a sale and purchase agreement for the entire share capital of the SMD group
The United States and Japan have renewed vows to secure the Pacific region, including the Philippines, from maritime threats. In separate speeches during the celebration of Araw ng Kagitingan (Day of Valor) at Mt. Samat, Bataan yesterday
The Malaysian government has signed a new contract with Boustead DCNS Naval Corporation (BDNC) for through-life support for the two 2000 type Scorpene submarines of the Royal Malaysian Navy, based at Kota Kinabalu, Sabah.
India's state-owned Cochin Shipyard Ltd (CSL) has entered into a Memorandum of Understanding (MoU) with Korean firm Samsung Heavy Industries for technology partnership in constructing liquefied natural gas (LNG) carrying vessels, reports local media.
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