NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet. The Sofia is a 2008-built bitumen tanker vessel of 2,888 dwt and is one of the five bitumen tanker vessels that were delivered to NewLead's fleet during the fourth quarter of 2014. Since the end of November 2014, when NewLead took delivery of the Sofia, the vessel has been trading in the spot market under consecutive voyages. Previously, the Sofia has completed twelve different voyage charter agreements and fifteen different voyages and has transported approximately 29,175 metric tons of bitumen. Currently, the Sofia is performing its thirteenth voyage charter agreement while the Company has already agreed upon her following voyage charter, which is expected to commence at the end of July 2015, upon completion of its existing charter agreement. For the past nine months, the Sofia has been trading mainly in the Central and East Mediterranean and the Black Sea areas with the vessel loading in Greece and Italy and discharging in Greece, Roumania, Lebanon, Cyprus, Egypt, Turkey and Libya. Upon delivery of the Sofia to NewLead, the Company invested in the maintenance and improvement of the vessel's condition
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.
Dorian LPG Ltd took delivery of five vessels under our ECO-design VLGC newbuilding program, the Continental, the Constitution, the Commodore, the Cresques and the Constellation. John Hadjipateras, Chairman, President and Chief Executive Officer, commented, "We took the delivery of five new Eco-design VLGCs this past quarter and are nearing the completion of the build-out of our fleet."
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
Swiss trader Trafigura has taken up to six liquefied natural gas (LNG) vessels from Norwegian shipping company Golar LNG, likely on a single-voyage basis to transport cargoes, trading and shipping sources said. The vessels are to be put at Trafigura's disposal from now through August or possibly September and sources say each vessel may be used for only a single voyage. The sources said this type of arrangement resembles a Contract of Affreightment
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.
Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes may firm up next week on increased chartering activity, tighter tonnage supply and possible port disruption caused by bad
Rates from Australia to fall, Brazil rates to nudge higher. Freight rates for large capesize dry cargo ships on key Asian routes could diverge next week with rates from Australia to China trending lower on weaker sentiment while prices from Brazil to China could rise on tight vessel supply
Frontline Ltd. has announced the formation of Suezmax Chartering, a commercial joint venture with Diamond S. Shipping LLC and Euronav NV. The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels
30-40 Mid-East VLCC cargoes still to be contracted for June; Posidonia shipping event next week in Greece may dampen activity. Freight rates for very large crude carriers (VLCCs) could rise next week as charterers complete their June loading programme
Frontline Ltd. ("Frontline"), today announces the formation of Suezmax Chartering, a commercial joint venture with Diamond S. Shipping LLC and Euronav NV. The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax
Euronav, Diamond S Shipping and Frontline join in Suezmax Chartering Joint Venture Euronav NV has formed a commercial joint venture with Diamond S Management LLC and Frontline Ltd. with the aim of creating a single point of contact for cargo owners to access a fleet of 43 Suezmax vessels
Tough measures needed to achieve profitability -BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold around current levels or nudge slightly higher next week on buoyant cargo volumes, likely supported by a raft of off-market charters, ship brokers said
The CAT high-speed ferry has been refloated following an extensive refit, upgrades and repairs at Detyens Shipyard in Charleston, S.C., which began in early April. Following the refloating, final work, including completion of regulatory inspections and dock and sea trials
Rates from Western Australia to China fall from six-month high. Freight rates for large capesize dry cargo ships on key Asian routes could slide next week as charterers rein in their activity following a flurry of fixtures which pushed rates from Western Australia to China to a six-month high
Capesize rates fall in a quiet market as holidays weigh; 20 charter-free capesize ships could add to downward trend. Freight rates for large capesize dry cargo ships on key Asian routes are set to drift lower next week unless there is an uptick in chartering activity from major miners
Carnival Corporation announced it will sail as planned from the U.S. to Cuba with all travelers, including Cuba-born passengers, for the company’s week-long voyages to Cuba. Carnival worked with Cuba to allow its cruise ships to operate in a similar manner as current air charter
Owners resisting charterers' attempts to push market lower; rates slip from 5-1/2-month highs. Freight rates for large capesize dry cargo ships on key Asian routes face an uncertain outlook next week with some owners resisting charterers' attempts to push hire rates down even as freight rates
When cruise liner Crystal Serenity sets off on its 32-day expedition voyage through the Northwest Passage from Anchorage to New York August 16, she will be escorted by the RRS Ernest Shackleton. Crystal Cruises recently secured RRS Ernest Shackleton for the voyage via a charter party
Carnival Corporation & plc said it is continuing discussions with Cuba to allow cruise ships to operate in the same manner as current air charter operations, which transport Cuba-born individuals to and from Cuba. Fathom will begin sailing its 704-passenger Adonia luxury cruise ship
Europe is expected to receive its largest-ever diesel cargo after French refiner Total booked a super tanker to sail to the region even as it faces brimming storage tanks and wilting demand. Total has chartered the newly-built very large crude carrier (VLCC) tanker Alice to ship 270