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Voyage Charter

Greece's Star Bulk on Ship Buying Spree

Star Bulks Star Thetis: Photo courtesy of Star Bulk

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


Maritrans Reports First Quarter Earnings

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.


New Voyage Planning Program

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.


The CSL Group Installs Veson

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 Takes Delivery of Drybulk Vessels

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


Crude Carriers Corp. Reports 2Q Resultes

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


Navy Charters Kite-Powered Cargo Ship

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For the first time, the U.S. Navy's Military Sealift Command (MSC) has chartered a kite-assisted, fuel-saving cargo ship to carry military equipment. MV Beluga SkySails departed , , Oct. 5 after the first of three European port calls to load U.S. Army and U.S. Air Force cargo before the ship's month-long voyage to the . The 400-foot Beluga SkySails is the world's first cargo ship to use a sky sail – a giant, computer-controlled kite that can rise 100 yards into the air and uses wind


TBS Reports 3Q, 9 Mo Results

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.


Paragon Announces Early Charter Termination

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


Baltic Trading Take Delivery of Capesize, & Charter Out

Bulk carrier image CCL

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


Agent-Operator Collaboration Brought into Veslink

veslink.jpg

Veson Nautical announced the release of the Veslink Agent Portal, a new feature of Veslink, Veson Nautical’s online service that streamlines the collection and distribution of mission-critical maritime data. The Veslink Agent Portal enables port agents to submit Statements of Facts and Port


Four Holland America Ships to Sail SA Cruise Season

ms Statendam (Photo: Holland America Line)

From fall 2014 through spring 2015, Holland America Line will offer South America deployment with four ships positioned in the region. The line's ms Statendam, ms Maasdam, ms Prinsendam and ms Zaandam will sail 20 voyages around the continent ranging in length from 14-68 days.


ISC Expects Faltering Q1 2014 Financial Results

ISC Jones Act vessel: Photo courtesy of ISC

International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call. The company says that it expects to report a first quarter net loss, before Preferred Dividends, in the range of $3


Cargo Sits Waiting a Fortnight in Asia: Analysts Seek Reasons

Slow steaming & Lay-up impacts: Image courtesy of Drewry Maritime Research

Jochen Gutschmidt, head of global transport procurement at Nestle, asked the Global Liner Shipping Conference in Hamburg last week: “Why is cargo waiting in Asia for two weeks?” Using data from Drewry’s latest 'Container Forecaster', just published


CTruk Launches First Volvo Penta IPS Workboat

SC Falcon (Photo: Volvo Penta)

CTruk, a British boat builder specializing in high-speed composite marine craft, including catamaran workboats and wind farm support vessels, has delivered its first workboat equipped with Volvo Penta IPS (Inboard Propulsion System) to Sima Charters of Holland.


Otto Marine Send Two AHTS to GoM, One to W. Africa

AHTS Redfish 4: Image courtesy of Otto Marine

Offshore marine services firm Otto Marine informs it has obained a total of US$24.9 million in charter contracts for three offshore vessels – Redfish 4, Go Canopus and Go Altair. Details as follows: Redfish 4, an 8,000bhp Anchor Handling Tug Supply (AHTS) vessel equipped with dynamic


Faurisson Joins Heidmar Products Desk

Olivier Faurisson (Photo: Heidmar)

Heidmar announced that Olivier Faurisson will join the company as Managing Director of Chartering and Marketing in the product sector.  Faurisson has experience in product chartering and pool building. He rose to the title of General Manager, Products Division


Navigator Holdings Run a Tight Ship, Report 2013 Profit Surge

Gas carrier: Photo courtesy of Navigator Holdings

In its preliminary fourth quarter and financial year 2013 results, ship owners and charterers Navigator Holdings report that EBITDA increased to $106.8 million for the year ended December 31, 2013 from $63.9 million for 2012. HIghlights


Rickmers Charter Out Two Panamax Container Ships

A Maersk Containership: Photo courtesy of the owners

Rickmers Maritime, inform it has chartered out to Maersk Line the container ships 'Henry Rickmers' (formerly 'Ital Fastosa') and 'Richard Rickmers' (formerly 'Ital Festosa'), each of them 3,450 TEU panamax-size container ships. Henry Rickmers will be delivered to Maersk Line this week and Richard


Sovcomflot Reports on Slippery 2013 Financial Slope

SCF Melampus: Image courtesy of the owners

SCF Group (Sovcomflot)
 has released its audited financial results for the year ending 31, December 2013, indicating a slip in profitability during what they describe as another challenging year for the international tanker industry. 2013 Financial Highlights


Seaspan Accepts Containership Delivery

Seaspan Corporation announced that it accepted delivery of a 10,000 TEU containership, the Hanjin Buddha, which was constructed using Seaspan's fuel-efficient SAVER design. The new containership, which was constructed by Jiangsu New Yangzi Shipbuilding Co., Ltd


Scorpio Bulkers Continue to Think Big with New Orders, Charters

Photo courtesy of Scorpio Bulkers

Monaco-based Scorpio Bulkers Inc. says it has signed agreements to purchase 5 Capesize dry bulkships from South Korea shipyards for a total of US $306 million, and has entered into charter party contracts as set out below: Newbuildings Yard         &n


Several Cruise Voyages Altered by Houston Spill

Caribbean Princess (Photo: Princess Cruises)

The Federal Maritime Commission (FMC) issued a notice to cruise passengers affected by the Houston ship channel oil spill stating that several cruise voyages have been altered or rescheduled. Royal Caribbean International’s Navigator of the Seas seven-night Western Caribbean March 23


Transas Adds Paper Chart Functions to Navi-Planner 4000

Image: Transas

Navi-Planner 4000 has been known for electronic charts, publications and other data management for several years. Recognizing the fact that a lot of shipping companies continue using paper charts, Transas has added a new functionality to its voyage planning software providing one tool for both


Silver Discoverer Embarks on Inaugural Voyage

Photo courtesy of Silversea

Silver Discoverer, Silversea's latest addition to its award-winning expedition fleet, welcomes her first guests today, exactly 20 years to the day since the company launched its first ultra-luxury cruise ship. Setting sail at 4:30 p.m. on her inaugural voyage from the port city of Broome


 
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