Star Bulk Carriers contracts China's Shanghai Waigaoqiao Shipbuilding to build two Capesize dry bulk carriers, & also signs Letters of Intent with a major Japanese shipyard for construction of two Ultramax dry bulkers. The eco-type, fuel efficient Capesize drybulk vessels are to be delivered in Q4 2015 and Q1 2016, respectively and similar specification Ultramax dry bulkers in 2015. The aggregate purchase price of all four newbuilding vessels is approximately US$151.0 million. In other news: Star Bulk say they have been notified by the receivers of STX Pan Ocean Co. Ltd. terminating the charter agreement for the vessel, Star Borealis, effective immediately. Currently, STX owes the Company approximately USD $653,000. Star Bulk intends to vigorously pursue all amounts owed to it under the charter agreement, including any related damages caused by the termination of the charterparty, under the STX rehabilitation proceedings, which have commenced in Korea. Under the STX charter, this vessel earned a daily net time charter rate of USD $24,255. The Company has re-employed the vessel on a voyage charter at a daily time charter equivalent of approximately USD $27,000. Additionally, the Company announced that it has chartered two of its Supramax vessels with major international companies; the Star Gamma is chartered for approximately one year at a gross daily time charter rate of USD $9
Concordia Maritime has just won a new contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement is for 6 months initially and will run until the end of 2014. "We are very proud to have concluded this deal and we are looking forward to continuing to develop this growing trade with refined petroleum products into the Asia Pacific with our business partner,” says Kim Ullman
Maritrans Inc., today announced its first quarter financial results and declared a quarterly dividend. Maritrans also announced an investor teleconference to discuss the quarter's results. Net income for the quarter ended March 31, 2002, was $3.0 million, or $0.32 diluted earnings per share, on revenues of $31.3 million. This compares with net income of $2.7 million, or $0.24 diluted earnings per share, on revenues of $31.6 million for the quarter ended March 31, 2001.
Crude Carriers Corp. (NYSE: CRU), today reported its financial results for the second quarter of 2011. The Company reported a net loss for the quarter of $7.5 million or $0.48 per share, which compares with a $0.37 net income per share from the second quarter of 2010. The Company’s reported net loss for the quarter includes $1.7 million in general and administrative expenses related to the definitive merger agreement with CPLP and the proxy statement on Form F-4 filed with the Securities
Veson Nautical, a US-based developer of software solutions for the commercial maritime community, announced that installation of its IMOS Chartering Module has been completed for The CSL Group of companies. “We researched offerings from all the major vendors in this market and selected Veson Nautical to replace some of our ‘homegrown’ tools for a number of reasons,” explained Kevin Johnston, Director of Information Technology for the CSL Group
Baltic Trading Limited (NYSE: BALT), a drybulk company focused on the spot market, has taken delivery of the Baltic Bear, a Capesize newbuilding, and the Baltic Jaguar, a 2009-built Supramax vessel. The Baltic Bear and the Baltic Jaguar are the third and fourth vessels, respectively, to be delivered to the company under agreements signed in February 2010 to acquire four 2009-built Supramax drybulk vessels from an unaffiliated third party as well as two Capesize newbuildings from another
Seagull AS presented its new Voyage Planning Program - VP version 1.0. This software has been developed in close cooperation with the ECDIS supplier/developer MARIS AS. Northern Marine Management Glasgow/UK will be the first customer using this new SW on board all ships Seagull has completed a new program covering the needs for any vessel and navigator to complete a comprehensive voyage plan according to any known charter requirements.
Joseph E. Royce, Chairman and Chief Executive Officer and President of TBS International Limited, stated: "We attribute these record results to the efforts of our worldwide team of shipping professionals delivering our TBS Five Star Service (Ocean Transportation, Logistics, Portside Services, Operations and Strategic Planning) to our global customer base. TBS owns its vessels, deals directly with our clients and presently does not have vessels on long term time charters.
Baltic Trading Limited has accepted delivery of the first of two new bulk carriers, 'Baltic Tiger', a 179,185 dwt Capesize vessel, and found a time charter for the vessel without delay. The Baltic Tiger delivered to its charterer, Swissmarine Services S.A., has commenced a spot market-related time charter for 10.5 to 13.5 months. The rate for the spot market-related time charter, which is subject to the completion of definitive documentation, is based on 102
Paragon Shipping Inc. announced that Deiulemar Compagnia di Navigazione SpA, the charterer of the M/V Friendly Seas (the "Vessel"), a 2008-built 58,779 dwt Supramax bulkcarrier (the "Charterer"), has continued to fail to provide payment due since January 5 and has failed to provide the Vessel with voyage instructions. Accordingly, Paragon Shipping has provided written notice to the Charterer of the termination of the charter, but has received no response
INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA). Rising bunker prices due to rising oil prices and volatility in global politics can have a dramatic effect on trade as they fluctuate not just day to day, but also port to port
The second of Canada Steamship Lines' (CSL) two newbuild Trillium Class Great Lakes bulk carriers, CSL St-Laurent, was delivered on November 26, 2014 and set sail on her maiden voyage on December 13. She departed at 20:00 CST from Yangfan shipyard on Zhoushan Island, China
Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with Clearlake Shipping Pte. Ltd., Singapore, a member of the Gunvor Group, for one of its Capesize dry bulk vessels, the m/v New York.
Astor and Marco Polo receive refurbishment and class survey work Damen Shiprepair & Conversion has recently carried out a number of cruise ship repair and refurbishment projects in the Netherlands, including Astor and Marco Polo, both operated by Cruise & Maritime Voyages
International diversified shipping company Capital Product Partners L.P. announced that it has secured time charter employment for the M/T Aias and M/T Arionas. The M/T Aias (150,393 dwt, Crude Oil Carrier, built 2008, Universal Shipyard, Japan) will be employed with Repsol Trading S.A
The U.S. Coast Guard (USCG), Customs and Border Protection, Canada's Niagara Regional Police and the Niagara County Sheriff's Office are investigating a reported hijacking of a Canadian-flagged charter vessel by two Canadian men Tuesday afternoon.
Capesize rates fall to six-year lows; rates below ship operating costs, according to accountancy firm. Rates for capesize bulk carriers on key Asian routes, which crashed close to six-year lows on Wednesday, will continue their inexorable fall in the face of few fresh cargoes, brokers said.
Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today announced that
Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013. Time charter revenues, net of prepaid charter revenue amortization, were $13 million for the third quarter of 2014
OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014. Nine months 2014 – Financial Highlights (IFRS accounts) USD
Scorpio Tankers Inc. announced today that it has declared a quarterly dividend of $0.12 per share, reflecting an increase of 20% over the previous quarterly dividend, has entered into an agreement to purchase two newbuilding LR2 product tankers
Dorian LPG Ltd. today reported its financial results for the three months ended September 30, 2014. Highlights – Second Quarter Took delivery of the second vessel under our VLGC newbuilding program, the Corsair, from Hyundai Heavy Industries Co. Ltd
The Port of Vancouver USA welcomed the Kypros Unity, commanded by Capt. Wilfredo F. Itable of Cyprus, on her maiden voyage Oct. 28. Capt. Itable and his 20-member Filipino crew were welcomed to Vancouver by Keith Anderson and Curtis Williams of United Grain Corp
Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy, the international energy provider. “At Nordic Maritime
Filipino marine professionals employed to meet demand for service from the shipping industry Weathernews Inc. announced it has established a new operations center in the Philippines in response to the shipping industry’s demand for the company’s risk communication services