Three Vessel

Eagle Bulk Takes Supramax Vessel

Eagle Bulk Shipping Inc. (Nasdaq:EGLE), a global marine transportation company specializing in the Supramax segment of the dry bulk shipping industry, has taken delivery of the Tern, a 2003 built 50,209 dwt Supramax dry bulk vessel. Eagle Bulk has now taken on-schedule delivery of two of the three vessels that were part of an acquisition agreement announced on June 23. The Company expects to take timely delivery of the final of these three vessels later this month. The Tern will immediately commence an 18- to 22-month time charter at a rate of $19,000 per day. Upon delivery of the third vessel the Eagle Bulk Shipping Inc. fleet will consist of 16 dry bulk vessels including 12 Supramax and 4 Handymax vessels, with a cargo carrying capacity of 796,663 dwt., and a fleet average age of approximately 5.5 years.

Thor-Lube Bearing Receives Orders

Thordon Bearings Inc. of Canada recently received orders for environmentally friendly Thor-Lube sealed stern tube bearing systems for three LNG carrier newbuild projects in Korea and Japan. Daewoo Shipbuilding & Marine Engineering Co. Ltd ordered systems for two ships, one for Shell International Gas Limited and the second for the Australian LNG Ship Operating Co. (ALSOC). Mitsubishi Heavy Industries (MHI) of Japan ordered the third system for a second Shell newbuild

Eagle Bulk Shipping Takes Delivery of Supramax Drybulk Vessel

Eagle Bulk Shipping, Inc., a global marine transportation company specializing in the Supramax segment of the dry bulk shipping industry,announced that it has taken delivery of the Shrike, a 2003 built 53,343 dwt Supramax dry bulk vessel. The Shrike was acquired as part of a three vessel transaction announced on February 28, 2007. The Shrike will immediately commence a 24-27 month charter at a rate of $24,600/day. The charterer has an option to extend the charter period by 12-14 months at a

Caspian Charters Vessels to Reservoir Exploration Tech

Caspian Services’ subsidiary Caspian Services Group Ltd., has signed a contract to provide three vessels to Reservoir Exploration Technology ASA (RXT), a marine geophysical company specializing in multi component seismic sea-floor acquisition. RXT recently signed a letter of intent with Agip KCO to conduct a four component 3D seismic survey over the extensive Kashagan field. Caspian Services will add two additional shallow draft survey/work vessels to its fleet to service this contract

Hornbeck Offshore Announces Purchase of Three Vessels

Hornbeck Offshore Services, Inc. nnounced today that it has exercised its option to purchase the HOS Hotshot, a newly constructed 165 foot fast supply boat that it has been operating under a bareboat charter since it was delivered in April 2003. In addition, the Company announced that it has entered into a definitive agreement to purchase two 6,000 horsepower ocean-going tugs that were built in 1983. Hornbeck expects to close the tug acquisitions by the end of June 2004

Grandweld Wins Contract for Salvage Tugs

Grandweld, a United Arab Emirates-based shipbuilding, ship repair and conversion specialist, has secured a major contract worth $128m for the construction of three new Salvage Tugs for Sogeport-GICEP of Algeria. Grandweld is a division of GMMOS Group, a provider of marine services to the offshore oil & gas industry backed by Abraaj Capital and Waha Capital. "This contract for three 58m Salvage Tugs is yet another achievement for Grandweld and has helped us maintain a strong and

MC Shipping Buys Three LPG Tankers

MC Shipping Inc., said it bought three vessels from the Komaya Group of. The AP reported that the company plans to fund the purchases with current cash and credit. MC Shipping expects the vessels to add about $10.5 million in revenue during their first full year of operation, as well as about $6.3 million in earnings before interest, taxes, depreciation and amortization. MC Shipping will put the tankers on charter with Vitol SA, an oil and gas trading company

Eagle Bulk Receives Supramax Dry Bulk Ship

Eagle Bulk Shipping, Inc. (Nasdaq:EGLE) has taken delivery of the Skua, a 2003 built 53,350 dwt Supramax dry bulk vessel. Skua was acquired as part of a three vessel transaction announced on February 28, 2007. Skua will immediately commence a 23-25 month charter at a rate of $24,200/day. The charterer has an option to extend the charter period by 11-13 months at a rate of $25,200/day. The Eagle Bulk Shipping, Inc. fleet consists of 23 vessels, including 20 Supramaxes

A&P Tyne Repairs OSVs

A&P Tyne has begun a series of repair projects involving Offshore Supply Vessels (OSVs) owned by Norway’s Farstad Shipping ASA, Aalesund. The first in the series was the 4,680 dwt Far Swan, which was completed during early June, to be followed by the 3,053 dwt Far Supporter and the 3,050 dwt Far Server during June and July, all three vessels operated out of Farstad Shipping’s Aberdeen office. A&P has an agreement with Farstad Shipping’s Aberdeen office covering routine drydockings of OSVs

Containership Cutbacks on Asia to Mexico/South America Route

Hamburg Süd and CCNI on the one hand and China Shipping, Hanjin and Hyundai on the other have reached agreement on optimizing their service offering during the forthcoming slack season between Asia and Mexico/South America West Coast with effect from mid-November 2011. To this end, the partners’ three slings will be reduced to two. Sling 1 of the new service will see the deployment of eleven 5,500 TEU vessels (nominal), of which Hamburg Süd is to provide ten and CCNI one