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
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
Stelmar Shipping Ltd. announced it has secured the Vessel Jamar, a double hull product carrier, on a one-year time charter contract for $12,500 per day. Peter Goodfellow, CEO and president commented, "We continue to sign profitable time charter contracts aimed at providing our shareholders with significant earnings visibility. Stelmar has secured 77 percent of the net operating days on profitable time charters for 2002 and 44 percent for 2003
Danaos Corporation recently announced that it has signed shipbuilding contracts for four 6,800 TEU vessels with China Shipbuilding Trading Company, Limited. The vessels will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and they are expected to be delivered to Danaos during the second and third quarter of 2010. This new order increases Danaos’ total order-book to 19 containerships with a total carrying capacity of 102
An investment agreement has been signed between ATP, Goldman Sachs funds and PFA to invest DKK 11 billion in DONG Energy A/S. The final closing of the transaction is conditional on the approval of the State Finance Committee of the Danish Parliament.
Twenty more maritime companies came together to sign the Maritime Singapore Green Pledge to signify their commitment towards promoting clean and green shipping in Singapore. They join the 40 companies that have already signed the Green Pledge so far.
Imtech Marine has signed an agreement with Electrotech Pty in Australia. With this agreement and strategic partnership, Imtech Marine extends its global service network, now 94 own offices in 30 countries, with eight Electrotech offices in Australia
Some voyages are expected to be delayed in the North Sea waters as a very intense low is expected in the South Norwegian Sea on December 5 and is moving E-ward over Scandinavia on December 6. It will cause severe weather conditions in the North Sea with STORM and HIGH to VERY HIGH SEA December
Maritime services provider Inchcape Shipping Services (ISS) is celebrating the further expansion of its global footprint, following the opening of a new office in Map Ta Phut, Thailand. This new opening takes the ISS worldwide network to over 300 offices
Russian President Vladimir Putin has signed a law on the liberalization of exports of liquefied natural gas (LNG). According to the document, two new categories of license holders are entitled to the right to export LNG, in addition to Gazprom, reports Arctic-Info.
The oil tanker “Energena’ managed by Gulf Stolt Ship Management and currently undergoing maintenance at Drydocks World, will become the first commercial vessel to sail under the UAE flag , reports 'Trade Arabia'. The Tasneef (Emirates Authority for Classification) classification
The contract , to be signed shortly, with a value of approximately EUR 140 million comprises the construction and maintenance of a new sandy coastline for 20 years. The project is part of the second national High Water Protection Program.
MAN Diesel & Turbo’s PrimeServ retrofit team signed an agreement with Great Eastern Shipping Company (GESCO) of Mumbai, India regarding a propeller retrofit upgrade for their M/T Jag Lavanya – a Samsung-built 105,000 DWT crude oil carrier from 2004.
Scana Industrier ASA has through its subsidiary Scana Propulsion recently signed new contracts: one for delivery of a propulsion systems to Kleven verft, and two more for tunnel thrusters to Nordic Yards and Guangzhou Salvage Bureau. The contracts have a total value of approx. 22 million NOK.
Adani Ports & SEZ Ltd., India’s largest private port developer and part of the Adani Group, signed a Memorandum of Understanding with the Belgian Port of Zeebrugge to act as a strategic entry port for the lucrative European market. It will now collaborate with the Belgian port to explore
During the Italy-Russia Business Forum in Trieste, Italy, Fincantieri secured a contract to build a semi-submersible floating platform for the transportation of nuclear submarine reactor compartments. The company also signed an agreement to define plans for an advanced technology offshore energy
Contract signed to upgrade Collins Class Submarines Defence Minister Senator David Johnston announced the Defence Materiel Organisation has signed a multi-million dollar contract with ASC Pty Ltd to update the control management and monitoring system for the Royal Australian Navy’s
Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, and Italy’s Prime Minister, Enrico Letta, has signed a term sheet on mutual crude oil supplies and a heads of agreement
Maritime Payment Solutions, LLC – Program Manager of ShipMoney for Crew and ShipMoney for Captains announced that it has signed a Norwegian Ship Management Company that operates a fleet of dry cargo vessels, offshore supply vessels and bargesadding to a growing list of ShipMoney clients