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Six Vessels

SCI Orders Tankers from Hyundai Heavy

Shipping Corporation of India has placed orders with Hyundai Heavy Industries of Korea for four Aframax Crude Oil Tankers and two LR-II size Product Tankers. The formal shipbuilding-contracts for six vessels were recently signed. Source: The Hindu


Box Ships Takes Delivery of Containership

Box Ships Inc.bmp

ATHENS, Greece, May 19, 2011 – Box Ships Inc., (NYSE: TEU), or the Company, a global shipping company specializing in the transportation of containers, announced today that it has taken delivery of the MSC Siena, a 4,546 TEU container vessel built in 2006, from an unaffiliated third party and the CMA CGM Kingfish, a 5,095 TEU container vessel built in 2007 from Paragon Shipping. The MSC Siena has a fixed rate period time charter term expiring in January 2014 with Maersk at a gross


WaveMaster Lands Innovative Ten Ferry Order

WaveMaster International has won a contract for ten 118 ft. (36 m) high-speed aluminum monohull ferries for delivery to Singapore. With firm contracts for the initial six vessel order already placed, financing has been arranged through Singapore-based Caterpillar Credit Services Asia, a subsidiary of Caterpillar Financial Services. Both the shipyard and purchaser have signed options for the remaining four vessels included in this innovative project.


Star Bulk Takes Delivery of Third Vessel

Star Bulk Carriers Corp. announced that it has taken delivery of the M/V Star Kappa (ex E Duckling), a Supramax vessel of 52,055 dwt built in 2001 in Japan. Star Kappa is an addition to the initial fleet, was acquired for USD 72 million and is the third vessel to be delivered to the Company following the completion of the Redomiciliation Merger. Star Kappa has a Time Charter employment contract at a gross daily rate of USD 47,800 with earliest expiration date of September 23, 2010.


Genco Shipping to Acquire Six Drybulk Vessels

Genco Shipping & Trading Limited announced that it has agreed to acquire six drybulk vessels with an average age of approximately 2 years from affiliates of Evalend Shipping Co. S.A. for an aggregate purchase price of approximately $336m. The acquisition is subject to the completion of customary additional documentation and closing conditions. Genco plans to finance the acquisition through borrowings under its $1.4b revolving credit facility.


Box Ships Recieves First Two Containerships

Box Ships Inc., (NYSE: TEU), a global shipping  company specializing in the transportation of containers, announced that it has taken delivery from Paragon Shipping Inc., of the Box Trader and the Box Voyager, two 3,426 TEU high specification vessels built in 2010.  Both vessels have a remaining fixed rate period time charter term of 16 months  (with charter option of  plus / minus 45 days) with CSAV Valparaiso Chile at a gross daily charter rate of $20,000.  


Port of Redwood City Reports Tonnage Boost

Image: Port of Redwood City

Coming off of a strong second quarter for cargo tonnage, the Port of Redwood City's tonnage for all commodities in the first half of fiscal year 2013/2014 reached 829,681 metric tons, an increase of 24 percent over the same period last year. Imported sand and aggregates from British Columbia accounted for 642,480 MT, more than 77% of the tonnage for the first half of the fiscal year. This was nearly a 45% increase in the amount from the same period last fiscal year.


BMT, Ares to Deliver Patrol Boats for Bahrain Coast Guard

Photo: BMT

BMT Nigel Gee (BMT), a subsidiary of BMT Group, has announced its latest partnership with Ares Shipyard to design and build six 18m patrol boats from advanced composites, for the Bahrain Coast Guard which have a maximum design speed in excess of 35 knots. The contract also has an option for an additional six vessels. Undertaking the full detailed design including hull form optimization, structural design and machinery layout


Eastern Echo Orders Seismic Vessels

Eastern Echo Holding Plc signed the shipbuilding contracts with Dubai Drydocks and the design and equipment contracts with Ulstein Design AS, for two seismic vessels, each capable of towing up to 12 streamers. The shipbuilding contracts conclude and replace the original letter of intent (LOI) announced on the 20 September 2007. ‘We are pleased to announce the signing of these contracts today with Dubai Drydocks and Ulstein Design AS


Austal Trains TTCG Personnel

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More than 90 personnel from the Trinidad and Tobago Coast Guard (TTCG) have completed a comprehensive Austal vessel training program in preparation for the delivery of six vessel Fast Patrol Craft fleet in early 2010. The crew training program - held at Austal’s training facilities in Western Australia - familiarized TTCG personnel with the specific features and capabilities of the 30 m Fast Patrol Craft, equipping them with the skills necessary to operate the vessels and perform basic


Is China Building a Naval Base in Africa?

Image: The China Africa Project

 Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that 'a Chinese delegation will visit Namibia ... for discussions ... on the way forward regarding plans for the proposed naval


Nordic Shipholding Rebounded in 2014

  Danish ship owner Nordic Shipholding turned a profit in 2014 following its 2013 restructuring, the company announced today.   The company earned a profit of $2.3 million in 2014 due to improved earnings and a one-off gain of $5


Canadian Navy Delays Opening of Arctic Facility

Canada's military has again delayed the opening of a major new Arctic port, a sign the government is struggling to assert sovereignty over a remote resource-rich region.   The planned deep water naval facility at Nanisivik - some 3,100 km (1


MOL Expands Container Fleet

Containership Courtesy MOL

  Mitsui O.S.K. Lines, Ltd. has signed a deal for construction of four 20,000 TEU containerships with Samsung Heavy Industries. MOL also concluded an MOU for long-term chartering of two 20,000 TEU containerships with Shoei Kisen Kaisha, Ltd


Maersk Orders Rolls-Royce’s New Anchor Recovery Frames

Image courtesy of Maersk

Maersk Supply Service orders Rolls-Royce’s new Anchor Recovery Frames for newbuild anchor handlers   Maersk Supply Service has exercised an option to add Rolls-Royce’s new Anchor Recovery Frames (ARF) to the supply contract awarded in December for deck machinery for six anchor


New Survey Catamaran for Indian Navy

INS Makar

The Indian navy is operating a stable research platform built around a steel-hulled catamaran. The 53.15 by 16-meter (174.4 X 52.5-foot) INS Makar has a molded depth of 4.5 meters (15 feet). Designed by the Australian naval architecture firm Sea Transport Solutions, the INS Makar


Asia Bulk-Capesize Rates at 6-year Low

Charter rates at 6-year lows as cargoes scarce; some owners anchoring ships rather than leasing at a loss. Rates for capesize bulk carriers have plunged to fresh six-year lows and could fall further with cargoes scarce in the post-holiday period, brokers said.


BOURBON Continues to Sell Vessels

BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co.   BOURBON has completed the transfer of ownership under the agreements with ICBC Financial Leasing (ICBCL) and


Rolls-Royce Secures Deck Machinery Contract

Photo courtesy of Maersk

Rolls-Royce is to deliver an extensive package of advanced deck machinery to six new high-end anchor handling tug supply vessels (AHTS) to be built by Kleven in Norway for the Danish ship owner Maersk Supply Service. The contract with Kleven is worth in excess of £54m to Rolls-Royce


Kleven Orderbook Pumped up to $1.8b

Diamond Deal: De Beers Marine Namibia, part of De Beers Group, signed a deal with Kleven to build a specialized vessel for deep water mineral exploration.

Norway’s Kleven has enjoyed a strong Q3 with significant orders from Maersk and De Beers, bringing its  order book to 18 vessels valued at $1.8 billion. De Beers Marine Namibia, part of De Beers Group, signed a deal with Kleven to build a specialized vessel for deep water mineral


Schlumberger to Take $1 bln Restructuring Charge in Fourth Quarter

Schlumberger Ltd, the world's No.1 oilfield services provider, said it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels as it trims its operations in response to slumping oil prices. The company expects a pretax charge of $200 million in the fourth


Schlumberger Cuts Seismic Fleet to Lower Costs

Schlumberger Ltd, the world's No.1 oilfield services provider, said it was reducing the size of its marine seismic fleet to lower costs as it expects customers to cut exploration spending. Schlumberger said it would take a charge of $800 million to write down the value of six vessels and other


Wärtsilä Integrated Solutions for Maersk's AHTS Vessels

AHTS Maersk

  A new series of six Anchor Handling Tug Supply vessels to be built at the Kleven Verft AS in Norway for the Danish based Maersk Supply Service A/S - part of the A. P. Møller-Mærsk Group, will feature fully integrated solutions from Wärtsilä


LR to Class Maersk Supply Service Anchor Handlers

The six vessels (plus four options) placed in the Norwegian yard will be assigned Lloyd’s Register (LR) class notations 100A1, Offshore Supply Ship AHTS, Fire Fighting Ship 1 (2400), Ice Class 1A PS, RD (2.8), IWS.   Steel cutting is expected to begin in June 2015 with the first two


OW Bunker to Meet Liquidator; Ship Arrests Continue

OW Bunker owes financers more than $750 million-creditor data; six more vessels arrested; 7 in total. The Singapore arm of bankrupt Danish shipping fuel trader OW Bunker will meet with its liquidator KPMG in early December to discuss the firm's outstanding debt, which totals almost $1






 
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