Marine link
 

Vessel Purchase

Teekay Offshore Signs Brazil Shuttle Tanker Contract

Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) TOO -0.92% , announced today that it has entered into a new long-term contract with a subsidiary of BG Group plc (BG) to provide shuttle tanker services in Brazil.   The contract with BG will be serviced by four Suezmax-size DP2 shuttle tanker newbuildings to be constructed by Samsung Heavy Industries in South Korea. Upon delivery in mid- to late-2013, the vessels will commence operations under 10-year time-charters. The contract with BG also includes certain extension options and vessel purchase options.   "These strategic new long-term shuttle tanker time-charters with BG further strengthen the Partnership's position in the fast-growing Brazilian offshore market," commented Peter Evensen, Chief Executive Officer of Teekay Offshore GP L.L.C. "In addition to increasing our Brazil based shuttle tanker fleet size by approximately 30 percent, this transaction is expected to be accretive upon delivery of the vessels and will provide Teekay Offshore with additional customer diversification and cash flow stability."


Shipping industry market trends for 2014 - John Nikolaou

John Nikolaou

Athens based, Financial Analyst John Nikolaou provides an insight into the recent market trends of the shipping industry:  Greek shipowners have returned to the top of the global shipping economy by controlling a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. According to Clarksons, this global lead illustrates that Greeks operate much bigger ships because they own 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese.


Excel Maritime Fleet Expansion Update

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator and provider of worldwide seaborne transportation services for dry bulk cargoes, announced the delivery of a newbuild Capesize vessel as well as the cancellation of a vessel purchase agreement. Excel Maritime has taken delivery of the newbuild Capesize vessel M/V Sandra on December 26, 2008 from the Imabari Shipyard in Japan. The vessel has a carrying capacity of 180


New Golden Gate Ferry Enters Service on Larkspur

The first of two vessels purchased by the Golden Gate Bridge, Highway and Transportation District (GGBHTD) from Washington State Ferry in January 2009 has been completely refurbished and is entering service today, May 16, on the Larkspur-San Francisco Route. The two Washington State Ferry vessels, now named the M.V. Golden Gate (formerly the Chinook) and the M.V. Napa (formerly the Snohomish) were purchased for $2 million each and have a refurbishment budget of approximately $10 million each


Financial Prudence the Key to Bunker Trade Success

The importance of balancing the numbers for a successful bunker fuel trading operation will be stressed by GAC's Nicholas Browne when he shares his experience at the Lloyds Maritime Academy Bunker Management School this week. In his speech, the Global Director of GAC Bunker Fuels will outline what bunker traders need to keep in mind making the judgment calls they face every day. What are the criteria for granting credit to a new customer? How can they minimize their risk exposure? 


Panamax Dry Bulker Delivered to STX Pan Ocean

Bulk Ship STX Horizon: Photo credit STX Pan Ocean

STX Pan Ocean takes over the 83,000 dwt class Panamax, 'STX Horizon', its first new-build delivery of the year. Having concluded strategic contracts for long-term transportation with domestic and international shippers including POSCO, Hyundai-Steel, KEPCO subsidiaries, Vale and Fibria in Brazil, STX Horizon will be added to the the owner's list of vessels to service these various contracts. A company official said: “Although current dry bulk shipping market is depressed


Golden Ocean Group Announces Sale

Golden Ocean Group Limited has agreed to sell the vessel M/V Shinyo Brilliance. The vessel is a Panamax bulker and is one of the long-term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72m net. The strike price for the option is about $20m net and the transaction will thereby free up approximately $52m in


NewLead Holdings Buys Vessels

NewLead Holdings Ltd. (NASDAQ:NEWL) announced that it has signed a Stock Purchase Agreement providing for the purchase of two Kamsarmaxes for an aggregate purchase price of $112.7m and signed a Memorandum of Agreement for the sale of the product tanker Chinook for $8.5m. “NewLead's fleet continues to transform, becoming younger and more versatile," said Michael S. Zolotas, President and Chief Executive Officer


ABS NS Software Helps Secunda Marine

ABS Nautical Systems (ABS NS) has taken the traditional purchasing relationship and automated it to provide shipowners and operators with a more efficient way of obtaining competitive bids and more responsive service with its eProcurement product, an extension of its Purchasing & Inventory software module. Nova Scotia-based Secunda Marine Services Limited (Secunda) is the latest operator to implement ABS NS eProcurement as part of its overall fleet management strategy.


Diana Shipping Aquires Vessel

Diana Shipping Inc. has exercised the option to purchase a Panamax dry bulk carrier, the Yasmine Venture, of 73,546 dwt, built in June 2006. The vessel has a purchase price of $39.6m and is expected to be delivered to the Company in July 2006. Upon delivery the vessel will be chartered to Bocimar Belgium NV, Antwerp, Belgium, for 11 to 13 months at $21,000 per day net.


Diana Shipping to Acquire Three Panamax Ships

Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75


Briggs Marine Orders Damen Multi Cat 2712

Photo: Damen Shipyards

Briggs Marine and Environmental Services, the Fife, Scotland-based leading supplier of offshore services, has ordered a Damen Multi Cat 2712.   One of the largest models in Damen’s extensive Multi Cat range, the 27-metre 2712 is a versatile workboat capable of taking on almost any


Sea Hawk Debuts VMG Hard & Fast Racing Finish

Fresh Water Boaters Hard, Fast Racing Finish Sea Hawk

Sea Hawk today  announced the introduction of VMG Hard & Fast Racing Finish, a revolutionary new bottom coating geared specifically for fresh water sail boaters and power boaters looking to enhance the performance of their vessels. VMG


Scot Tanker Opts for MarineLine Coatings

Contract signing at Scot Tanker’s office in Istanbul (Photo: Advanced Polymer Coatings)

Advanced Polymer Coatings (APC) has signed a contract with Scot Tanker, based in Istanbul, Turkey, for up to eight chemical tanker retrofits using the patented MarineLine polymer cargo tank coating system.   These eight chemical ships became available on the market and were purchased by


Searching for a Better Way

Paine

Financing the Municipal, Tax-Exempt Workboat Sector. Poring over any of the many marine publications that seemingly arrive daily in your mailbox or inbox, you can get an idea of the depth and breadth of the current state of U.S. commercial marine vessel shipbuilding


GPA Hits Record Volume Growth of 11.7%

The Port of Savannah will add eight new ship-to-shore cranes by 2018, for a total of 30. (GPA photo  Stephen B. Morton)

The Georgia Ports Authority achieved record container volumes in 2015, Executive Director Curtis Foltz reported to the GPA board Monday.   Over the last calendar year, the Port of Savannah moved an all-time high 3.73 million twenty-foot equivalent container units, an increase of 391,356 TEUs


Iran to Resume Shipping Oil to Japan

Image: National Iranian Oil Company

 The media in Tehran said on Saturday that Japan plans to extend a contract to purchase crude oil from Iran.   Shana news agency – affiliated to Iran’s Ministry of Petroleum – has reported that Japan’s contract will be extended until April 2017.   


CMA CGM Ups NOL Stake to 2.32%

Pic: Neptune Orient Lines

 French container shipping group CMA CGM bought an additional 2.4 million shares in takeover target Neptune Orient Lines (NOL) from the open market on Thursday at $1.235 and $1.24 per share, says a report in the Business Times.  


Two Cargoes of Argentine Wheat Due to Arrive in U.S.

Two cargoes of Argentine wheat were scheduled to arrive at port in Wilmington, North Carolina, shipping data showed on Friday, indicating a rare situation where U.S. buyers actually find it cheaper to purchase imported grain than abundant domestic supplies.


Saam Smit Towage Bolsters Americas Fleet

SST Capilano (Photo: Saam Smit Towage)

Saam Smit Towage, a joint venture between SAAM S.A. and Royal Boskalis Westminster N.V. providing towage services in Mexico, Canada, Panama and Brazil, announced it has invested in fleet renewal in Canada and Panama. The company’s Canadian arm has taken delivery of newbuild tug SST


Oceanside Police Orders Crystaliner from Willard Marine

Crystaliner has been a staple of the law enforcement and surf and rescue departments along the Pacific coast for decades Photo Courtesy Willard Marine

  Willard Marine, Inc., a global leader in the manufacture of mission-proven boats, has received an order to produce a 33-foot, fiberglass harbor patrol boat for the Oceanside Police Department in California based on the iconic “Crystaliner” boat design.  


MarineCFO Integrates Document Management System for Onboard Use

MCFO.jpg

MarineCFO has announced the availability of its newly developed Marine Document Management System (MDMS), designed specifically as a tool to assist marine operators in organizing recordkeeping, assessment, & training verification requirements both ashore and afloat.


General Dynamics Bags Replacement Submarine Award

Ohio Replacement Submarine Photo Wikipedia

  The U.S Navy has awarded General Dynamics Electric Boat an $89.8 million contract modification to continue development of the Common Missile Compartment for the U.S. Navy’s Ohio Replacement submarine and the Royal Navy’s Successor-class ballistic-missile submarine


IRISL Readies for Europe

Dr. Mohammad Saeidi. Photo by IRISL

 The Islamic Republic of Iran Shipping Lines (IRISL) is seeking to open bureaus across Europe, says its Managing-Director Dr. Mohammad Saeidi.   IRNA reports Saeidi as saying that once the arbitrary sanctions on Iran are lifted, Iranian-flagged ships can travel between Iranian and


Brightoil In for Ten Vessels

Photo Courtesy Brightoil

  Singapore Subsidiary and Shenzhen Brightoil Shipping yesterday entered into the Vessels Acquisition Agreement, pursuant to which Shenzhen Brightoil Shipping agrees to sell, and Singapore Subsidiary agrees to purchase ten Vessels for a total cash consideration of US$84,000






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright