U.S. Shipping Secures New Charter

Wednesday, October 18, 2006
U.S. Shipping Partners has completed a long-term time charter for employment of the second of its series of articulated tug barges (ATBs) scheduled to be delivered in mid-2008. The charterer, an investment grade company, will utilize this vessel in its domestic coastwise trade in refined petroleum products and chemicals. The first ATB in the series, scheduled for completion in April 2007, is covered by contracts of affreightment in U.S. Shipping's U.S. flag chemical transportation business. U.S. Shipping expects that these contracts of affreightment will utilize substantially all of the first ATB's capacity through June 2010. Upon delivery, U.S. Shipping expects both of these ATBs to be financially accretive.

The ATB which is the subject of this charter is the first of a series to be constructed by Manitowoc Marine Group (barge component) of Marinette, Wisconsin and Eastern Shipbuilding Group Inc. (tug component) of Panama City, Florida. These ATBs feature a flexible cargo system capable of carrying a broad spectrum of refined petroleum products and chemicals, a fuel efficient main engine and a hull design which will allow service speeds generally in excess of standard ATB designs.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Contracts

Haven Marine Signs Service Contract with Svitzer

Haven Marine Services informs it has signed a five year contract with Svitzer which will see the yard service the requirements of Svitzer’s vessels within the Bristol Channel and Irish Sea areas.

Portugal PM Warns Lisbon Dock Workers to End Strike

Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.

Hercules Offshore Filing for Bankruptcy Again

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1458 sec (7 req/sec)