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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


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


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


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


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


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


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


Diana Fixes Bulker Duo with Glencore

Erato. Photo: Diana Shipping Inc

 Diana Shipping Inc  has inked new time charters with Glencore Grain B.V., Rotterdam for two of its panamaxes at rates below the previous charters, with the contracts commencing on March 26.   Diana entered into a time charter contract with Glencore for 74,444 dwt panamax dry bulk vessel Erato for a period of 11-14 months at a gross charter rate of $4,650 per day minus a 5% commission payable to third parties. The charter for the 2004-built vessel commenced on March 26.


Sovcomflot Profits slip

Projects - The company services large-scale energy projects in Russia and abroad, including Sakhalin-1, Sakhalin-2, Prirazlomnoye, Varandey, Tangguh and Peregrino.

Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and


MN100: McDonough Marine Service

(Photo: McDonough Marine Service)

The Company: Bernard P. McDonough created the company in 1945 by leasing barges from his construction company into the marketplace. Through a series of new and used barge additions, McDonough forged his company, expanding from the Ohio River to the Gulf of Mexico and eventually to the East Coast


Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Photo courtesy of Harbor Breeze Cruises

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.   Harbor Breeze is one of the largest yacht charter and cruise companies operating within


PLSV Delivered to TechDof Brasil

Skandi Açu (Photo: DOF Group)

DOF Subsea and Technip announce the delivery of Skandi Açu and commencement of contract with Petrobras   DOF Subsea and Technip, through 50/50 owned affiliate TechDof Brasil AS, have taken final delivery of the pipe-lay support vessel (PLSV) Skandi Açu


LR's OVID to Strengthens Vessel, Rig Inspection Service

Lloyds Register strengthens vessel and rig inspection service through the Offshore Vessel Inspection Database (OVID) to provide faster assurance checks and improved safety performance. Photo LR

Inspectors of Lloyd’s Register are optimising inspection regimes thanks to their accredited status using the OVID web based inspection tool to reference inspection reports. “OVID has been designed to provide a number of positive benefits to Oil Companies International Marine Forum


Crowley Christens MT West Virginia

Fourth LNG-Ready, Product Tanker Joins the Crowley Fleet Photo Crowley

Crowley Maritime Corp. today christened the MT West Virginia, its fourth new, Jones Act product tanker for the U.S. coastwise trade, in Philadelphia at Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA. The West Virginia is LNG ready


TEN Delivers Aframax Tanker

Image: Daewoo Mangalia Heavy Industries

 Tsakos Energy Navigation (TEN Ltd) has announced the delivery of the Aframax crude tanker "Thomas Zafiras" from Daewoo Mangalia Heavy Industries which will immediately enter a long term contract to a Northern European charterer that could generate gross revenues in excess of $100


BBC Chartering launches office in Esbjerg, Denmark

BBC Moonstone courtesy BBC Chartering

BBC Chartering announces the re-launch of its presence in Denmark with a new representative office in Esbjerg opening August 15, 2016. “Global wind power saw an unprecedented growth recently, for the first time crossing 60 GW in new capacity installments in 2015


Euroseas Reports Loss

Photo: Euroseas Ltd

 Euroseas Ltd has announced its results for the three and six month period ended June 30, 2016 as well as certain fleet updates.    Total net revenues of $7.3 million. Net loss of $19.2 million; net loss attributable to common shareholders (after a $0


Navios Maritime Charter Restructuring with HMM

MSC Cristina. Photo: Scheepvaartwest

 Navios Maritime Partners has reached an agreement with South Korean shipping company Hyundai Merchant Marine to cut the hire rate of five container vessels chartered out to HMM by 20%.   Pursuant to the charter restructuring documentation executed on July 15, 2016


Brokers Optimistic on Asia Dry Bulk-Capesize Rates

File image: credit BSM

More activity from Australian miners buoy capesize rates; dry cargo market remains over-tonnaged as fleet growth outpaces demand. Freight rates for large capesize dry cargo ships on key Asian routes should stay largely unchanged next week on static cargo volumes though shipowners remain


GSL Extends CMA CGM Charters

Marie Delmas. Photo: Marine Marchande

 Global Ship Lease (GSL) has extended the charters of the Marie Delmas and Kumasi, two 2,207-TEU vessels, for up to 3.25 years.   Under the agreement, a revised rate of $13,000 per day will apply from August 1, 2016 until the charters' previous earliest expiry dates in September 2017


Yacht Computer Service Expands its IT Service

Photo: Yacht Computer Service

 Any maritime business equals to demanding clients. And not to forget the crew – from any position upwards. As long as everything works, life on board is great.    TV or entertainment systems on any vessel are an absolute must, working at 100%. Most of the time they do


Otto Marine Launches Second Arbitration Proceedings

Photo: Otto Marine

 Singapore-based offshore marine group Otto Marine, which is in the midst of a takeover offer by its chairman, has taken a second legal action against payment default, reports Strait Times.    Otto Marine said it has commenced arbitration proceedings against Vettal Mega Services


Diana Enters Time Charter Contract With Glencore

MV Ismene. Photo: Diana Shipping

 Greek dry bulk ship owner Diana Shipping announced it entered into a time charter contract with Glencore Grain B.V., Rotterdam for one of its Panamax dry bulk vessels.   The vessel in question is the 77,901 dwt MV Ismene, which was hired at a gross charter rate of $ 5,850 per day






 
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