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.
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
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.
Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced that it has entered one of its Panamax dry bulk carriers, the Oceanis, into a time-charter contract with J.B. Ugland Dry Bulk A/S for a period of approximately 24 days, estimated to begin on August 22, 2005, at a gross rate of $12,500 per day plus a $198,000 one-time payment. Applying the above mentioned one-time payment to this fixture, and based on the estimated duration of 24 days
MISC Bhd has secured two long-term charters for its LNG carriers with Yemen LNG Company (YLNG) for the transportation of the commodity from Yemen to the US and Mexico, according to a report on www.theedgedaily.com. Under the charter party agreement, MISC will provide two 157,000 cu. m. LNG carriers to YLNG for the shipment of LNG from Balhaf in Yemen to Total Gas & Power Ltd facilities at Sabine Pass, Louisiana and Altamira in Mexico.
Horizon Lines, Inc. took delivery of its first new containership, the Horizon Hunter from the Hyundai Mipo shipyard in South Korea. The Horizon Hunter is the first of five new, U.S.-flag, foreign built, sister vessels that the Company is chartering from subsidiaries of Ship Finance International Limited under definitive long-term charters and related agreements closed on April 11, 2006. The gross tonnage of the vessels is 28,592 tons, they have a capacity of 2,824 TEUs
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.
Floating craft like motor yachts, sailing yachts or catamarans are quite a regular sight on Rickmers-Linie vessels. However, the ferry which Rickmers-Linie carried from Bangladesh to Denmark on board the long-term charter vessel Baltic Winter is remarkable.
Odfjell buys long-term chartered vessel 'MT Bow Engineer', a 30,086 dwt chemical tanker. Odfjell, a leading company in the global market for transportation and storage of bulk liquid chemicals, acids, edible oils and other special products, has entered into a contract for the purchase of the MT
Rickmers-Linie added a 10th vessel on its eastbound Round-the-World Pearl String Service as part of its continuing program of investment in its services. The global breakbulk, heavylift and project specialist has taken the Rickmers Savannah on long-term charter to help it meet customer demand
Aberdeen-based standby vessel operator Atlantic Offshore Rescue said it has commissioned what will be the U.K.’s most powerful emergency response and rescue vessel (ERRV). The Ocean Troll – which recently completed a long term charter with Statoil – has undergone a £2
Two New Ships for A.O. Schiffahrt In May 2012, A.O. Schiffahrt celebrated the christening of the Kamsarmax bulk carrier Caroline Oetker at the yard of Taizhou Catic Shipbuilding, near Shanghai. The sister vessel Ida Oetker was due to be christened at the same location on June 26
Mercator Lines (Singapore) agree early termination & settlement agreements with owners of bulkships 'Chaitali Prem' & 'Chanchal Prem'. Briefly, the existing charter of M.V. “Chaitali Prem” ends on or about 31 August 2014
LNG carrier 'GasLog Shanghai' delivered on budget ahead of schedule from Samsung Heavy Industries. The vessel is a 155,000 cubic meter Tri-Fuel Diesel Electric LNG carrier that sets new standards for efficient performance and environmental protection
Mercator Lines (Singapore) agrees to sell its 279,022 dwt VLOC 'Sri Prem Putli'. The vessel was built in 1993 and converted from Very Large Crude Carrier (VLCC) to Very Large Ore Carrier (VLOC) in 2009. The Vessel is expected to be delivered to its buyers in March 2013
Jaya Holdings Limited, operators of a Singapore offshore shipbuilding yard, has delivered a new state-of-the-art multi-purpose offshore support vessel Jaya Pride. “Jaya Pride is one of the most sophisticated vessels produced by Jaya’s Batam shipyard
GasLog Ltd. orders two new 174,000 cbm Tri-Fuel Diesel Electric LNG carriers from Samsung Heavy Industries Co., Ltd. The vessels are expected to be delivered in Q1 and Q2 2016, respectively, and upon delivery will commence firm ten-year charters with a subsidiary of BG Group plc.
Danaos Corporation reports fourth quarter and full year results for the year ended December 31, 2012. Financial highlights: Operating revenues of $151.8 million for the three months ended December 31, 2012 compared to $128.3 million for the three months ended December 31, 2011
Shell U.K.Ltd. awarded Ocean Installer a contract for umbilical installation at the Bittern field in the U.K. sector of the North Sea. The scope of the work is to install two new static umbilicals of 20.7km and 1.8km. This includes pre-lay engineering; survey and confirmation of all routes and
Mercator Lines (Singapore) Indian-owned international dry bulk shipping company cuts short charters, sell a ship. The sale of the vessel Sri Prem Putli was concluded on 21st March, 2013 resulting in net proceeds of USD 44.4 million. The proceeds from the sale of this ship have been partly used
GasLog Ltd. announced the delivery of a new LNG carrier GasLog Santiago, from Samsung Heavy Industries. Immediately on delivery, which was on budget and ahead of schedule, she commenced a medium-term charter to Methane Services Ltd. (BG Group).
Hyundai Ocean Service contract Lloyd’s Register Marine Consulting to assess the service lifetime of their vessel 'Hyundai Utopia'. The study concerns the 1994 built, 273m long, 71,909 dwt, LNG Carrier Hyundai Utopia (IMO 9018555). The President of HDOS, Taek-Gyu Lee