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Navios Maritime Announces Long-Term Time Charters

Navios Maritime Holdings Inc., a vertically integrated global shipping company specializing in the dry-bulk shipping industry, announced today that it has secured favorable time charter contracts for three of its vessels. As a result, Navios has extended the coverage of its core fleet to 100.0% for 2006, 73.3% for 2007 and 37.0% for 2008. The time charters, for the Navios Cielo, Navios Orbiter and Navios Sagittarius, have been fixed for approximately 2 years each at rates creating approximately $32.9 million of EBITDA over the charter periods.


OMI Announces Delivery of Acquired Vessel

OMI Corporation announced that it had taken delivery of the Ohio, a new 37,000 dwt product/chemical tanker. The vessel has entered into a previously announced three year time charter. Craig H. Stevenson, chairman, CEO and president of OMI commented that “we are pleased that the company’s fleet and its secure revenues continue to grow. This brings to fourteen the number of vessel on long term time charter, with three more new product tankers to be added during the first quarter of 2002


Primorsk to Build Gas Carrier

The Primorsk Shipping Corporation (PRISCO), as part of the MOL/K Line/PRISCO consortium, has started building a carrier vessel to transport liquefied natural gas (LNG) to participate in the Sakhalin-2 project, the Corporation says. The construction was begun in December 2006. Under the schedule, the gas carrier is to start operating in April 2008. The vessel is being built at a dockyard of Mitsui Engineering and Shipbuilding in Chiba (Japan).


Knightsbridge Secures Charters for Two Vessels

Knightsbridge Tankers Limited announced it has secured medium-term time charter contracts for two of the company's five very large crude carriers (VLCCs). The Company has chartered the vessels to Tankers International LLC, each for a period of three years at a rate of $30,000 per day with a 50:50 profit sharing arrangement for earnings in excess of $30,000 per day calculated by reference to the BITR Index. Tankers International LLC is a pool for the commercial operations of four large tanker


Sovcomflot Reports on Slippery 2013 Financial Slope

SCF Melampus: Image courtesy of the owners

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 Gross revenue: USD 1,262.8 million (2012: USD 1,353.0 million) EBITDA: USD 382.1 million (2012: USD 406.1 million) Net loss: USD 39.2 million in 2013 (2012: USD 32.9 million net profit)


Grand Elena's Hundredth Voyage

LNGC Grand Elena has embarked on her hundredth voyage from Prigorodnoye

The gas tanker Grand Elena, jointly owned by PAO Sovcomflot and the Japanese company NYK, has embarked on her hundredth voyage from the port of Prigorodnoye in Russia to Japan. The vessel is undertaking her latest shipment of liquefied natural gas (LNG) on behalf of Sakhalin Energy Investment Company Ltd. The LNG carrier is chartered to Sakhalin Energy under a long-term time charter agreement and is operated along with two other vessels of the same series


Euronav Records Good 3Q Results

The executive committee of Euronav NV reported its provisional financial results for the three months ended 30th September 2006. The company had net income of $53.8m (2005: $5.8m) or $1.02 (2005: $0.11) per share, for the three months ended September 30, 2006. EBITDA was $110.5m (2005: $56.9m). Euronav owned VLCCs operated through the Tankers International (TI) Pool earned a time charter equivalent, in average for the quarter, of $69,500 (2005: $35,858).


Höegh LNG to Sell LNG Carrier

Höegh LNG has agreed to sell its LNG carrier Höegh Galleon to Maverick LNG Holdings Ltd on private terms. The Vessel is scheduled to be delivered to its new owner between July and October 2007. In the meantime the vessel is available for employment. The buyer intends to use the vessel as temporary LNG storage associated with their LNG transshipment and storage projects, including prospective power generation development


HUAL Takes 2 More Newbuilds

HUAL has entered into long-term time charter arrangements for two large car-carrier newbuildings. The vessels will be built at the Uljanik Shipyard in Croatia and will be delivered 1st half 2007. Leif Höegh & Co Ltd will own 49.5% in both vessels, which were ordered by Norwegian shipping investor Peter Gram. The Pure Car/Truck Carriers (PCTC) are well suited for HUAL's world wide trades and will have a deck capacity of about 59,000 sqm, two hoistable decks


ISC Expects Faltering Q1 2014 Financial Results

ISC Jones Act vessel: Photo courtesy of ISC

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 $3.3 million to $3.7 million. This result for the quarter is primarily attributable to lower than projected results from supplemental cargoes


AAL Adds New Heavy Lift Vessel

Photo courtesy of AAL

AAL announced that AAL Galveston will join its fleet on long-term time charter and add capacity to its Tramp and Projects division; providing worldwide trade for customers, with a specific focus on EU and US trades.   AAL Galveston is a multipurpose


Sovcomflot’s New LNG Carrier Named

Photo: Sovcomflot

A naming ceremony was held on April 9, 2015 in South Korea for SCF Mitre, the fourth vessel in a series of state-of-the-art Atlanticmax-type LNG carriers built for Sovcomflot (SCF Group).   The vessel, as with her sistership SCF Melampus that joined SCF Group’s fleet in January 2015


Aqueos Adds OSV to Service Line

OSV Clean Ocean (Photo: Aqueos Corporation)

Aqueos Corporation, a provider of subsea services to the Gulf of Mexico and Pacific Coast, has entered into a long term time charter of the OSV Clean Ocean, a California Air Emission Compliant 155’ offshore support vessel (OSV), for its West Coast and International operations.  


Mitsui Charters Eight LNG Newbuild

LNG carrier LNG Pioneer. Photo:  Mitsui Lines

 Mitsui & Co. has signed a 25-year time charter deal with Trinity LNG Transport for the eight liquefied natural gas (LNG) carrier that will ship the liquefied natural gas from Cameron LNG project in the United States.   “Mitsui has newly contracted yesterday the eighth ship


GasLog Partners' First Option Vessels Acquisition for $328 mi

Image

  GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder


Gazprom, Sovcomflot Expand LNG Transport Cooperation

Gazprom and Sovcomflot named the new state-of-the-art 170,000m³ liquefied natural gas carrier (LNGC) Pskov, after one of the oldest Russian cities. The ship will be chartered to Gazprom Global LNG (GGLNG) under a long-term contract. The LNGC Pskov is the second vessel in a series of


DoD Award Dredging, Ship Maintenance, Charter Contracts

USS Pearl Harbor: Photo USN

US Department of Defense informs of placement of contracts for Chesapeake Bay dredging, dry-docking of USS Pearl Harbor, and charter of surface escort vessels. Details as follows: 1. Dredging Norfolk Dredging Company, Chesapeake, Virginia, has been awarded $18,784


Russia's Shipping Major Reports Strong 1H 2014

Tankship: Photo SCF

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014.   Highlights:


Steel Cut for Yamal LNG Project’s Lead Tanker

SCF Yamalmax mock up (image courtesy of SCF Group)

A steel-cutting ceremony was held on September 29 for the lead gas tanker ordered by SCF Group for transportation of liquefied natural gas (LNG) under the Yamal LNG project. The prototype vessel will be operated under a long-term time charter between OAO Sovcomflot and JSC Yamal LNG.


Jaccar Holdings & Hartmann form JV

The new ethane carrier design

  Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, announce the establishment of a joint venture for the commercial management of ethane carriers. The new company, “United Ethane Carriers” or UEC, will be based in Singapore


Star Bulk Collects $8.016m From Sale of Its Claim Against Pan Ocean

star bulk.jpg

Star Bulk Carriers Corp. (NASDAQ: SBLK) announced that following the settlement and adjudication of the company's subsidiary Star Borealis LLC claim for damages and due hire related to the repudiation of the long-term time charter of the M/V Star Borealis by charterer Pan Ocean  Co Ltd


Floating Storage at Sea Stalls Despite Falling Oil Prices

Falling oil prices still to attract large scale storage at sea Oil tanker rates gaining ground after years in doldrums Despite falling oil prices, traders in recent weeks have booked just a few tankers to store cargoes at sea as higher freight costs outweigh any profit play for now


TEN Charters up to Two Suezmax Shuttle Tankers

Tanker spot rates rise as oil price drops Tsakos Energy Navigation Ltd., a crude, product and LNG tanker operator, reached an agreement for a long-term time charter to a national oil company of a new DP2 suezmax shuttle tanker for delivery in the first quarter of 2017


Philly Tankers Lines Up Charters

Aker Philadelphia Shipyard

Philly Tankers AS announced today that its wholly owned U.S. subsidiary, Philly Tankers LLC, has entered into binding long-term time charter contracts with a domestic end-user for the two 50,000 dwt product tankers it has on order with Aker Philadelphia Shipyard (AKPS)


Oil Storage at Sea Stalls as Profit Play Fades

Traders are cutting plans to use tankers to store oil at sea as the price incentive recedes, the global head of oil at mining and commodities group Glencore's said on Tuesday.   In January, the price of spot oil was around 50 percent lower than a peak hit in June






 
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