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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


Capesize Bunker Consumption: Baltic Exchange Issues Brokers Guidance

Capesize Bulk Carrier: Photo courtesy of K-Line

The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS). The London market exchange has provided its shipbroker panel members with further guidance on the way in which they assess the capesize market. The move has followed extensive market consultation and reflects the need for greater precision on the slow steaming characteristics of the


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


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.


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.


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


London's Baltic Exchange Redefines Capesize Terms

Capesize Bulk Carrier: Wiki CCL photo

The Baltic Exchange inform it will be making significant amends to the Baltic Capesize Index including a change to its vessel description, amends to the route weightings and the addition of three new routes, as follows:  

 The move follows a formal consultation process with the dry bulk


Is NAT Approaching Recovery?

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Nordic American Tankers (NAT) published its financial results from 4Q 2013, noting an expected increase in tanker rates that the company expects to play a role in its recovery. NAT’s results are below: In early December 2013 the Suezmax tanker rates increased significantly compared with


NAT in Q1 2014 Black: First Time in Four Years

NAT Tankship: Image courtesy of NAT

Nordic American Tankers (NAT) report a cash dividend, strongly improved operating cash-flow and a positive net income in the first quarter of 2014. The Company informs that thanks to a strong winter market, Q1 2014 has produced the best results it has seen in several years


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.


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


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


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


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

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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






 
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