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Time Charter Vessel

Odfjell Expands Fleet

Odfjell has bought M/T "Giada D" from Italian owners. The vessel is built in 1996 at Chantiere Navale de Poli, Italy and she is 10,115 dwt with stainless steel cargo tanks. The change of ownership will take place in 3rd Quarter 2006. Further, Odfjell has entered into a long-term time-charter agreement with purchase option for a vessel of 33.000 dwt with stainless steel cargo tanks. The ship will be built at Kitanihon Shipyard, Japan, and will be owned by Yuyo Steamship Co Ltd, Japan. Delivery of the newbuilding will be 3rd Quarter 2009. This agreement will bring the Odfjell-controlled Japanese deep-sea time-charter vessels on order to a total of 16 units, including five vessels from Ahrenkiel. In addition to this Odfjell has 10 newbuildings on order, and options for another 6 ships.


Missing Tanker Found; Account of Pirate Attack Disputed

M/T Kerala vanished on January 18 off Angola; Angolan Navy says hijacking faked. The Angolan Navy is claiming that the crew of an oil tanker reported missing off its coast on Jan. 18 were part of faked pirate attack. Separately, a regional security expert who declined to be named for the purposes of this report, expressed doubt as to the accuracy or motives of the Angolan Navy statements. The Sonangol time-chartered  vessel was eventually located in Nigerian waters


Genco Shipping to Sign Time Charter for the Genco Vigour

Genco Shipping & Trading Limited announced it has reached an agreement to enter into a time charter for the Genco Vigour, a 1999-built Panamax vessel, with STX Panocean (UK) Co. Ltd. The time charter will be for 23 to 25 months at an average rate of approximately $29,000(1) per day, less a 5% third party brokerage commission. Specifically, the time charter rate will be $33,000 per day for the first 11 months, $25,000 per day for the following 11 months and $29,000 per day thereafter


United Seamen’s Service Marks Anniversary

The world and the American maritime industry have changed dramatically since one of America's darkest hours, World War II, when United Seamen's Service was born to aid exhausted, wounded and battle-traumatized merchant seafarers in faraway places and unsafe harbors. It was 1942, 65 years ago, when President Franklin D. Roosevelt and the maritime unions and management recognized the need to provide havens and facilities in more than 125 worldwide locations for rest


General Maritime Announces Exercising of Three Time Charter Options On Aframax OBO Vessels

General Maritime Corporation today announced that a leading international trading company has exercised its option to time charter three additional Aframax OBO vessels for two years. The contracts for the these three vessels will provide net voyage revenue to General Maritime in the first year of approximately $21 million and could provide an additional $21 million in the second year through the exercising of the charterer's option


Norwegian Car Carrier Charter Fixed

NOCC Caspian: Photo credit Norwegian Car Carriers

Norwegian Car Carriers ASA announce a new time charter contract for their 'NOCC Caspian'. The company's 100% owned car carrier NOCC Caspian's charter is for a duration of about 12 months with commencement in early December 2012. The concluded time charter rate is higher than the rate on the current charter and will generate an EBITDA of about NOK 13.5 million during the twelve months charter period. Norwegian Car Carriers ASA has a fleet of 13 vessels for the transportation of cars


Stelmar Shipping Announces 18-Month Time Charter With ChevronTexaco

Stelmar Shipping Ltd. today announced that it has signed an 18-month time charter contract for the Rimar, a 1998 double-hull Handymax tanker. The time charter is expected to commence at the end of July 2003. The time charter contract is with ChevronTexaco at a rate of $14,000 per day. As part of the contract, ChevronTexaco has options to replace the Rimar with one of the Company's Handymax newbuildings at $14,500 per day and to time charter a second vessel at $14


Aries Maritime Provides Update on its Fleet Deployment

Aries Maritime Transport Limited announced an update on its fleet deployment. The Bora, a 2000-built double-hull products tanker, returned to service last week following the completion of works, which included dry-docking repairs and upgrades, as previously announced. The vessel is being deployed in the spot market, while period charter opportunities are explored. The cost of repairs is expected to total approximately $1.4m.


Euroseas Announces Charter Agreements for Container Ships

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


General Maritime to Sell, Leaseback Product Tankers

General Maritime Corporation (NYSE: GMR) announced that it has entered into memoranda of agreement to sell three product tankers, the 2004-built Genmar Concord, the 2005-built Stena Concept and the 2005-built Stena Contest, to affiliates of Northern Shipping Fund Management Bermuda, Ltd., an alternative capital provider to the shipping and offshore oil service sectors.  General Maritime will receive net proceeds totaling $61.7m for the sale of the three vessels


Nordic Prince On-hire in Israel for Noble Energy

Photo: Nordic Maritime

Nordic Maritime’s MKIII subsea service vessel, Mokul Nordic, has been renamed Nordic Prince and has started a long term charter for Noble Energy after arriving in Haifa, Israel.   Nordic Maritime was awarded a five-year charter for the DP2 IMR Subsea vessel from Noble Energy in October


Crewboat Sold to European Buyers‏

Patrice Tide

  Marcon International, Inc. of Coupeville, Washington infomred that Tidewater Marine International Inc. has sold their 41.2m x 8.2m x 3.5m depth / 2.38m draft, high-speed, aluminum crew / supply vessel “Patrice Tide” to private European operators


QGEP to Acquire FPSO from Teekay

Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production, storage and offloading (FPSO) unit for the Atlanta field located in the Santos Basin offshore


Teekay Tankers to Acquire 5 Tankers

Kevin Mackay, Chief Executive Officer of Teekay Tankers

   Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million. The five vessels, which are expected to be delivered in the first quarter of 2015, were constructed in 2008


Diana Containerships Announces Boxship Delivery

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Diana Containerships has announced that on November 28, 2014, through a separate wholly-owned subsidiary, it took delivery of the m/v “Santa Pamina”, a 2005-built Panamax container vessel of approximately 5,000 TEU capacity that the Company entered into an agreement to purchase on


Shell to Put Teekay’s LNG Newbuilds into service

Courtesy Teekay Corpn

  Subsidiaries of Teekay LNG Partners L.P. and a wholly owned company of Royal Dutch Shell plc today announced that they have entered into time-charter contracts for five newbuild LNG carriers. The vessels will operate as part of Shell's global LNG fleet under time-charters ranging in


Shell Time Charters 5 Newbuild LNG Carriers

Subsidiaries of Teekay LNG Partners L.P. (Teekay LNG) (NYSE:TGP) and a wholly owned company of Royal Dutch Shell plc (Shell) has announced that they have entered into time-charter contracts for five newbuild LNG carriers. The vessels will operate as part of Shell's global LNG fleet under


Concordia Increases Exposure with Tanker Contract

Stena Supreme

Concordia Maritime takes a position in the Stena Bulk’s Suezmax fleet corresponding to a 50 percent charter of one tanker.   The transaction was done by Stena Bulk and the vessel will operate during one year on the open spot market in the successful Stena Sonangol Suezmax pool


Asia Dry Bulk-Capesize Market 'Imploding'

Capesize rates fall to six-year lows; rates below ship operating costs, according to accountancy firm. Rates for capesize bulk carriers on key Asian routes, which crashed close to six-year lows on Wednesday, will continue their inexorable fall in the face of few fresh cargoes, brokers said.


Vessel Hijacking Reported on Niagara River

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The U.S. Coast Guard (USCG), Customs and Border Protection, Canada's Niagara Regional Police and the Niagara County Sheriff's Office are investigating a reported hijacking of a Canadian-flagged charter vessel by two Canadian men Tuesday afternoon.


NORDEN Takes $230m Provision

Nord Hakata (Photo: NORDEN)

NORDEN has taken a $230 million provision with no cash flow effect for onerous time charter contracts in Dry Cargo and reduces full-year guidance – underlying operations unchanged.   Following an updated market evaluation, NORDEN has concluded that it is no longer likely that certain


Capital Product Partners Announces New Charters

International diversified shipping company Capital Product Partners L.P. announced that it has secured time charter employment for the M/T Aias and M/T Arionas.   The M/T Aias (150,393 dwt, Crude Oil Carrier, built 2008, Universal Shipyard, Japan) will be employed with Repsol Trading S.A


Strong Interest in Keppel DC REIT IPO

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• Public Offer of 53,763,000 Units approximately 9.6 times subscribed, valid applications amount to approximately S$478.7 million • Largest REIT IPO in Singapore year-to-date with S$512.9 million raised • Commencement of trading of Keppel DC REIT on the Main Board of the


Diana Enters Time Charter Contract with Clearlake

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Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter  contract with Clearlake Shipping Pte. Ltd., Singapore, a member of the  Gunvor Group, for one of its Capesize dry bulk vessels, the m/v New  York.


Nordic Prince Chartered by Noble Energy

MKIII subsea service vessel Mokul Nordic has been renamed Nordic Prince

  Nordic Maritime, a leading offshore service operator, today announced its MKIII subsea service vessel Mokul Nordic has been renamed Nordic Prince and has started a long term charter for Noble Energy after arriving in Haifa, Israel.






 
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