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.
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
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.
Norway’s Ocean Yield ASA has agreed to acquire four 115,000 dwt LR2 product tankers which are currently on order from Navig8 Product Tankers at Sungdong Shipbuilding in Korea. Ocean Yield has agreed to acquire the product tankers for a total consideration of USD 198.1 million, in combination with 13 years "hell and high water" bareboat charters to Navig8 Product Tankers Inc, says a company statement.
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
Three new charters to generate total revenues of $40 million; spot rates increase in Q4 Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd. (TEN) announced the charter extension for three product tankers, including two Panamaxes and one MR, for two and three years respectively to a South American oil major. These contracts are expected to generate $40 million in total gross revenues over their relevant duration.
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.
Excelerate Energy and Petrobangla in agreement for long-term FSRU charter and construction of LNG import facility Excelerate Energy and Petrobangla have reached agreement on terms for the development and operation of Bangladesh’s first LNG import terminal. The agreement includes the provision of one of Excelerate’s existing floating storage and regasification units (FSRU) under a 15-year long-term charter, as well as the design and construction of the facility
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.
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.
DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas
Marcon International, Inc. of Coupeville, Washington started out the New Year right with the sale of the ocean-going, combo deck / tank barge “PCC Provider” on 3rd January to Alaskan buyers. The 5,451 mtdw, 250’ x 74’ x 19’ depth barge was specifically
DryShips Inc. has agreed to enter into a "zero cost" LPG Option Agreement with companies controlled by its Chairman and Chief Executive Officer, George Economou, to purchase up to four high specifications Very Large Gas Carriers (VLGC) capable of carrying liquefied petroleum
Chartering activity falls as holidays loom; Rio Tinto offering rates 5.5 pct lower than index level. Freight rates for large capesize dry cargo ships on key Asian routes will slide further next week in a lacklustre chartering market ahead of Christmas, ship brokers said.
NextDecade Global Solutions, a subsidiary of NextDecade, LLC, and FLEX LNG have signed a Heads of Agreement (HOA) to create a full value chain solution for customers looking to purchase LNG from NextDecade’s Rio Grande LNG export project in Brownsville, TX.
A Joint Venture comprising The Shipping Corporation of India Ltd. (SCI), Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and Petronet LNG Ltd (PLL), have taken delivery of a new build Liquefied Natural Gas (LNG) carrier MT
A consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and the Shipping Corporation of India Ltd. (SCI) took delivery of a new liquefied natural fas (LNG) carrier on November 30, 2016, in South Korea.
Tsakos Energy Navigation Limited (TEN), a leading diversified tanker owner, has announced new time charter contracts for four vessels, an aframax, two panamaxes, and a handysize product tanker, all to major end users. The average contract length of all four fixtures is 14
Following the naming of its new cement carrier, MV Aotearoa Chief, in New Zealand yesterday, The China Navigation Company (CNCo) christened its last newbuild, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series
Weakness in freight rates will increase tanker shipping demolitions over the next two years, with the trend accelerating in later years as a result of the IMO regulation on ballast water, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.
The China Navigation Company (CNCo) christened its last newbuild bulk carriers, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series. CNCo ordered four handysize bulk carriers (Imbari38 loggers) from Imabari
Dynagas LNG Partners signed a new long-term time charter contract for the Clean Energy. The Partnership, through one of its wholly owned subsidiaries, entered into a new long-term charter agreement with an affiliate of the Gazprom Group for the employment of its 2007 built 150
Subsea IMR provider, N-Sea, has increased its fleet through the long term charter of Siem Offshore’s offshore subsea construction vessel, the Siem Barracuda. The vessel is equipped specifically for subsea IMR, Survey and construction operations, featuring twin WROVs
CNOOC VLCC deal "draws line in the sand" for tanker owners; 25-30 MidEast fixtures still to be released up to mid-November. Freight rates for very large crude carriers (VLCCs), which plunged to a three-week low, are set to recover next week as owners hold out for higher rates on
GasLog Ltd. today announces that it has signed a time charter party with Centrica plc. ("Centrica") to charter a vessel for a period of seven years. The vessel, a 180,000 cubic meter LNG carrier with XDF propulsion, has been ordered from Samsung Heavy Industries