Time Charter Vessel
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.
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 & 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
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 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 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 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 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 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 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
DHT Holdings, Inc. announced today that it has entered into an agreement to acquire all the outstanding shares of Samco Shipholding Pte. Ltd., a private company incorporated under the laws of the Republic of Singapore. Samco owns and operates a fleet of seven very large crude oil tankers (VLCCs)
At SMM today, a cooperation agreement was signed between DNV GL and Marorka. Under the cooperation, the companies will join forces to integrate DNV GL ECO Insight performance management portal with Marorka onboard data collection platform and decision support tools –thereby providing
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it took delivery of the m/v YM March, a 2004-built Post-Panamax container vessel of 5
Seaspan Corporation announced today that Yang Ming Marine Transport Corp., has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option
Otto Marine says it has clinched AUD57-million worth of charter contracts in Australia for two of its large deep water AHTS vessels. Otto Marine Limited, which owns and operates a large fleet of offshore support vessels, with shipyard and other specialized offshore services
The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party. As announced by Euronav in March 2013, the company is entitled to a share of the profit should the selling price exceed a
Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term strategy confirmed: its newly founded DOT Shipping partnership with Grupo Diavaz and the subsequent approval of the Mexican Energy Reform
KKR and Borealis Maritime today announced the acquisition of a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank
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
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:
"The reduced charters on the 'Box Queen', 'CMA CGM Marlin' and 'CMA CGM Kingfish' were the contributing factors to the 24% decline in our adjusted time charter revenues year over year, which directly impacted our bottom line." says Mr
StealthGas Inc., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today as part of its fleet expansion program the acquisition of two newbuilding LPG vessels.
Time of bunkering process significantly reduced providing savings of thousands of dollars per day. OW Bunker has announced significant efficiency benefits following the commencement of distributing fuel oil with an MPA-approved (Maritime and Port Authority of Singapore) Coriolis Flow Meter
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues
Gazprom Marketing & Trading’s (GM&T) says that its newly delivered LNG carrier “Pskov” has received bunkers (Heavy Fuel Oil and Marine Gas Oil) at the port of Nakhodka in the Primorskiy Region of Russia.