Offshore marine services firm Otto Marine informs it has obained a total of US$24.9 million in charter contracts for three offshore vessels – Redfish 4, Go Canopus and Go Altair. Details as follows: Redfish 4, an 8,000bhp Anchor Handling Tug Supply (AHTS) vessel equipped with dynamic positioning 2 capabilities will be deployed for work on long term charter in Mexico. Go Canopus, a 10,800bhp AHTS vessel built in 2009 with DP2 technology has been contracted on long term charter, also for work in the Gulf of Mexico. Go Altair, a 5,150bhp AHTS with dynamic positioning 1 capabilities, has been cotracted for a short term towage project from Singapore to West Africa, and will then be strategically located to the West African market. About the Company Headquartered in Singapore, Otto Marine Limited is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion.
MISC Bhd reported that first quarter net profit dropped 29 percent on lower freight rates for its liner and petroleum divisions. The industry is expected to be either stable or soft because there are more ships in supply than what the market demands and the delay in scrapping old tonnage. Still, MISC's earnings should remain stable on long-term charters from the LNG, petroleum, offshore businesses and the turnaround of its heavy engineering activities.
RasGas has named its eighth LNG ship Simaisma at a ceremony held at the Daewoo Shipbuilding and Marine Engineering Company, South Korea. RasGas has a long-term charter agreement with the Maran Gas Maritime Inc and Qatar Gas Transport Company, which owns the vessel. Under the terms of the time charter agreement, RasGas will charter the ship for a firm period of 20 years to deliver LNG from its existing and future facilities at Ras Laffan Industrial City (RLC) to its growing
Stena Bulk has sold 50 percent of the tanker Stena Arctica to the Finnish oil company Neste Oil, which will also operate the vessel on a 10-year charter from 1 January, 2007 – mainly to transport oil from Primorsk to the Finnish port Porvoo in the Baltic. The 117,100 DWT Stena Arctica was delivered at the end of 2005 from the shipyard Hyundai Heavy Industries in South Korea and is the world’s largest tanker with the highest ice class (1A Super) currently in service.
Responding to information circulating, CMA CGM Group states that it has no short term plans to either purchase or long-term charter-in any vessels. The Group has a modern fleet of 408 ships, of which 92 are owned, that enable it to meet the current needs of its customers and provide them with end-to-end service around the world. In today’s economic environment, CMA CGM’s priorities are to reduce its debt and to strengthen its financial position.
GasLog has ordered two new 174,000 cbm Tri-Fuel Diesel Electric LNG carriers from Samsung Heavy Industries Co., Ltd. in South Korea. The vessels are expected to be delivered in Q3 and Q4 2016, respectively, and upon delivery will commence firm seven-year charters with a subsidiary of BG Group plc. The company explains that due to the benefits accrued from building a series of ships, these vessels will have a lower delivered cost than the 2 vessels ordered in February
Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, has taken delivery of the M/V Beauty River to be re-named Despina P and the M/V Honor River to be re-named Jonathan P, two handysize container ships it had previously agreed to acquire, each with a capacity of 33,667 dwt and 1,932 teu. The vessels are sister ships built in 1990 in South Korea.
Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that subsidiaries of the Company have entered into one year time charterer extensions for two of its containership vessels, the M/V Ninos and the M/V Despina P. The M/V Ninos, a 1,169 teu, 1990 built feeder container ship, has extended its time charter for an additional one-year at a gross daily rate of
The Settlement agreement recently approved by a U.S. Bankruptcy Court Judge in New York became effective July 28, clearing the way for an investor group led by The Blackstone Group to terminate their relationship with U.S. Shipping and to retain Crowley Maritime Corporation to manage five U.S.-flag petroleum tankers for the newly renamed company, American Petroleum Tankers LLC. The five tankers, two of which are in operation and three of which are due for delivery from shipbuilder NASSCO
Navios Maritime Partners L.P., owner and operator of dry cargo vessels, chartered out the Navios Joy, a newbuilding Capesize vessel for three years. The Navios Joy has been chartered out to an investment grade counterparty for three years at a rate of $19,000 net per day ($20,000 gross). The charterer has been granted an option to extend the charter for two optional years, the first at $22,325 (net) per day and the second at $25,650 (net) per day.
International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call. The company says that it expects to report a first quarter net loss, before Preferred Dividends, in the range of $3
The companies have signed a number of agreements for construction and long-term operation of the vessels for Sakhalin-2 project. At an official ceremony in Moscow, Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) and Sovcomflot Shelf (SCF Shelf) on behalf of Sovcomflot Group have
Marcon International, Inc. of Coupeville, Washington reported that Stabbert Maritime of Seattle has time chartered the U.S. flag, DP-1, research vessel Ocean Pioneer (ex: Seabulk Montana, Montana, Seabulk Montana, Indian Seal) to FMC Technology of Davis, California.
New supplier CMM Gravity to start on long-term contract with Petrobras. CMM has taken delivery of a Damen Platform Supply Vessel 3300. The 80-meter, 3,300t deadweight vessel CMM Gravity will be deployed in the Brazilian waters from June 2014 on a 4+4 year contract with Petrobras.
Cameron LNG, one of the most advanced US LNG export projects, (promoted by GDF SUEZ as a shareholder and a capacity holder), has been granted conditional non-Free Trade Agreement (FTA) approval from the US Department of Energy (DOE). The Non-FTA agreement will enable GDF SUEZ to export LNG
Two new specialised livestock carriers have been named 'Gelbray Express' & 'Girolando Express' in a ceremony at the COSCO shipyard in Guangdong, China. Vroon inform that the godmothers are Ms Sophie Wang, Managing Director Landmark Global Exports Pty Ltd
Delta SubSea LLC (DSS) signed a long term charter on DP II IMR Support vessel VOS Sympathy for international scopes of work. DSS mobilized two FMC Technologies Schilling Robotics HD 150 HP systems, complete tooling, and full survey suite provided by UTEC Survey
Mitsui O.S.K. Lines, Ltd. (MOL) say they have received a newbuilding charter contract for two methanol carriers from Atlantic Methanol Production Company LLC (AMPCO) based on an offer tendered in 2013. The vessels will be built at Minaminippon Shipbuilding Co., Ltd.
KNOT Offshore Partners reports net income of $7.9 million and operating income of $10.0 million for the fourth quarter of 2013, as compared to net income of $1.5 million and operating income of $5.7 million for the same period in the prior year
Singapore's Otto Marine says it has secured a long-term US$11.3-Million charter contract for its Anchor Handling Tug 'Go Emerald'. The owners inform that Go Emerald will be deployed for work on long term charter in West Australian waters for a renowned oil and gas player
Sovcomflot, Russia’s largest shipping company, has taken delivery of its latest LNG carrier, the Velikiy Novgorod, from South Korea’s STX Offshore & Shipbuilding. The ship is equipped with a diesel-electric, dual-fuel propulsion system consisting of 2 × MAN 8L51/60DF and 2
Ship Finance International Limited (SFL) announced that it has agreed to acquire seven 4,100 teu container vessels built in 2002 in combination with long-term charters to a leading container line operator. The vessels are expected to be delivered to SFL over the course of the next few weeks
Ship Finance International Limited (SFL) has announced the agreement to acquire two 5,800 teu post-panamax container vessels built in 2001/2002 in combination with long-term charters. The vessels are expected to be delivered to SFL over the course of the next few weeks
The official christening of the World Sapphire marks the completion of a six-ship order whereby Damen Shipyards has delivered six Platform Supply Vessels (PSVs) to Norwegian company World Wide Supply (WWS) AS in just six months. The Damen PSV 3300 features a radical design rethink
SCF Group (Sovcomflot) has released its audited financial results for the year ending 31, December 2013, indicating a slip in profitability during what they describe as another challenging year for the international tanker industry. 2013 Financial Highlights