Timecharter
Contract For Three New Car Carriers
Wilh. Wilhelmsen ASA has entered into a contract with Ray Shipping regarding the charter of 3 car carriers on a 15 year timecharter with options. Wilh. Wilhelmsen ASA has entered into a contract with Ray Shipping regarding the charter of 3 car carriers on a 15 year timecharter with options.
Bergesen Sells Tankers
Bergesen has entered an agreement with Tankers International to sell two tankers for a total $156 million. Bergesen would deliver tankers Berge Ichiban and Berge Tokyo, each of 296,000 dwt, to Tankers International led by Frontline Ltd. in July or August 2001. "Both of the two sold vessels are employed on timecharter contracts, and the sales are subject to the charterers' approval," the statement said. The price was $78 million per vessel, reflecting the vessels' timecharter contracts
OSG to Time Charter Product Carriers
Overseas Shipholding signed agreements with subsidiaries of Cido Tanker Holding to timecharter a pair of product/chemical carriers for 10 years. The 47,000 dwt ships will be built at Hyundai Mipo Dockyard and are scheduled for delivery in 2009. The two vessels, the Overseas Polaris and the Overseas Pisces, will have six segregations, and will be able to transport petroleum products, vegetable oils and IMO III chemicals. Delivery of the vessels will increase the number of International and U
Concordia Maritime Signs Contracts with Lukoil
Concordia Maritime has signed two-year timecharter contracts for the V-MAX vessels Stena Vision and Stena Victory with Litasco, a subsidiary of the Russian oil company Lukoil. The new time charters will begin immediately upon expiration of the current charter contracts with the American oil company Sunoco at the end of 2007. The vessels are chartered in from Arlington Tankers Ltd until the end of 2009. With the new time charter contracts Concordia Maritime has secured employment
Asian Panamax Rates Heading Up?
Asian Panamax rates for dry bulk cargo are likely to inch up later this week on brisk demand for grain shipment after easing slightly in thin trade last week on the New Year holidays, Reuters reported. "The freight market is expected to gain momentum with the regional business returning to normal after the New Year holiday, and on expectation of active grain chartering before the Chinese New Year holiday starts," said a shipping broker in Seoul. The Lunar New Year falls on January 24
Odfjell Enters Long-Term Timecharter
Odfjell announced the long-term timechartering of two 30,000 dwt. stainless steel type tankers to be built in and owned from Japan. These ships will enter service during 2005 and 2006, bringing the number of such deep-sea chemical tankers chartered by the company to a total of five.
Panamax Rates Under Pressure
Freight rates in the Atlantic Panamax market remained under pressure and were expected to move even lower in the near term, brokers said on Monday. While Atlantic rates continued to slide, Pacific business was holding up for the time being but was expected to tail off in due course, brokers said. Fresh cargoes had emerged in the Pacific for Panamaxes, but Japanese and Chinese owners had also started to place their tonnage on the open market.
Atlantic Panamax Rates Soften, Fixtures Lay Low
Sentiment for the Atlantic panamax freight market may be softening while fixture rates stay on the low side, shipbrokers said on Tuesday. "It may be settled in the (Far) East but panamax freight in the Atlantic looks softer as there are still lower rates being reported," said one London-based broker. The majority of routes quoted on the overall Baltic Panamax Index rose by three points on Tuesday to 1,309 - but the transatlantic round voyage timecharter route, a key element of the Index
Panamax Rates Hold Firm
Asia's Panamax rates for dry bulk cargo are expected to remain firm this week on strong vessel demand for grain and mineral exports and support from a rebound in Capesize, traders said. "Panamax freight rates are holding firm this week," said a shipping trader in Seoul. "The rates are a bit firmer than we expected ahead of the slow summer season." Active grain and oilseed exports from South America were providing support to the Panamax market
Golden Ocen Group Secures Timecharter
Golden Ocean Group secured a time charter contract for its Capesize vessel Channel Navigator. The 172,000 dwt vessel was fixed out on a five-year contract beginning by the end of April 2009. The daily charter rate is $53,500 less 3.75% commission. Golden Ocean Group on Monday also announced a ten year time charter contract for a Capsize tanker currently under construction at the Zhoushan Jinhaiwan Shipyard in China.
Quintana Finalizes Timecharters for 9 Ships
Quintana Maritime Limited has secured the final nine Kamsarmaxes under its master time charter with Bunge S.A. for 2010 at an average daily rate of approximately $22,000 per day, which is at the ceiling rate of the band for that period. With these fixtures
Concordia Signs Three Timecharters
Concordia Maritime have entered into time charter contracts for three of its P-MAX new buildings with ST Shipping and Transport, a subsidiary of Glencore. The contract period is three years for each vessel upon delivery from the shipyard. In total Concordia Maritime´s P-MAX fleet consists of
Focus On China: Refineries, Pipelines And Vessel Supply
China’s demand for imported oil is, and will, continue to be one of the key influences on the tanker market, according to industry experts Braemar Shipping Services plc. Demand growth in the country has progressed at an unprecedented pace over the last decade
Scorpio Tankers Announces TimeCharter
Scorpio Tankers Inc. has chartered-in a 2006 built LR2 product tanker (106,003 DWT), the Khawr Aladid. The vessel will be chartered-in for six months at $12,000 per day, and Scorpio Tankers has options to extend the charter for a period up to two years from delivery at $13,250 per day
Dry Bulk Rates Drop
The Baltic Panamax Index tumbled further on Thursday, with falls reported for the latest benchmark Panamax grain rates, brokers said. Brokers said a U.S. Gulf-to-Japan fixture had been chartered to load 54,000 tons of heavy grains in early to mid-September at a rate of $18
Pacific Panamax Market Gets Ugly
The Pacific panamax sector was set to weaken further after the Baltic Panamax Index fell under 1,000 due to a lack of orders, brokers said on Thursday. "There are no orders. The Baltic Panamax Index is now under 1,000 and the Pacific panamax market looks ugly," one said.
Atlantic Panamax Rates Take A Step Back
Sentiment on the Atlantic panamax market turned weaker albeit with unchanged freight rates, while most Pacific rates now appeared to be flattening out, shipbrokers said on Thursday. Average Pacific prices as reported on the Baltic Panamax Index climbed only marginally
Atlantic Market Freight Rates Fall Steadily
Freight rates continue to fall in the Atlantic market as fresh grain enquiry failed to compensate a slowdown in demand, shipbrokers said on Monday. Brokers reported the chartering of the 1996-built Atalanta, of 73,301 dwt, for a Brazil to Iran voyage.
Panamax Rates Hold Steady
Freight rates in the Atlantic Panamax sector held steady on Wednesday amid signs that recent rises may be stalling, brokers said. "The Atlantic is holding up well, but the question is not whether the Panamax market will rally further, but when the Atlantic will come off," one said.
Nakilat, Qatargas Ink $2.5b LNG Deal
Qatar Gas Transport Company (Nakilat) and Qatargas-II have signed 25-year timecharter deals to build the world’s largest liquefied natural gas carriers at a cost of $2.5bn. Nakilat also has concluded shipbuilding contracts for the six QMax carriers with Daewoo Shipbuilding and Marine
$700M LNG Timecharter Awarded
Petronet LNG Ltd (PLL) has awarded the $700 million time chartering contract for an LNG vessel to the Mitsui-led consortium of Shipping Corporation of India (SCI), NYK and SK Lines, according to a report on www.financialexpress.com. This 25-year contract is for carrying 2
Qatargas 4 Signs LNG Timecharter
Qatargas 4 signed a time charter agreement with Nakilat to use eight of the latter’s mega LNG tankers to ferry liquefied natural gas to QG4 customers worldwide, according to a report on www.gulf-times.com. Four of the eight vessels are in the Q-Flex and the others in the Q-Max categories
New Contract for NAT
Nordic American Tanker Shipping Ltd. concluded an agreement to charter to Gulf Navigation Company LLC of Dubai, U.A.E. the first of its modern double-hull Suezmax tankers as of the expiration of the original BP charter in Q4 2004. The five-year bareboat charter agreement
Feature: China: Growing Influence in All Matters Maritime
China's importance in the world maritime market has accelerated rapidly over the past decade, but it appears that current and near future growth will prove even more prolific. Chinese shipyards for 10 years have continued to dent the market share numbers of major shipbuilders in Japan
A Change in Course
News from BP, the world's largest oil company, that it plans to have "close control" over 50 percent of its tonnage by 2005 may bring a wry smile to more than a few old timers. It was not very long ago at all that oil majors were systematically divesting themselves of vessels that, they said