Omega Navigation Announces Charters for the Two Newbuildings

Wednesday, March 07, 2007
Omega Navigation Enterprises, Inc. has secured three year time charters at a daily rate of $25,500 for its two recently acquired newbuilding product tankers, the Omega Emmanuel and the Omega Theodore, with ST Shipping & Transport Pte Ltd, a subsidiary of Glencore International AG. Both time charters include profit sharing arrangements on quarterly basis, pursuant to which earnings from the vessels in excess of $25,500 per day will be divided equally between Omega Navigation and ST Shipping. This sharing ratio will be adjusted when the vessels trade in ice conditions, so that the profit sharing above the base rate of $25,500 per day between Omega Navigation and ST Shipping will be 65%/35%. The three year charters on each vessel will commence after three voyages from delivery from the shipyard or after vetting approvals by two oil majors have been secured, whichever is earlier. During that period, the vessels will be employed by ST Shipping under a short-term time charter on the basis of commercial management. Omega Navigation has selected VShips as the vessels' technical manager.

The Omega Emmanuel and the Omega Theodore are two newbuilding Ice Class 1A panamax double hull product tankers, built by STX Shipbuilding Co., South Korea, each one with a capacity of 73,000 dwt. They are scheduled to be delivered to ST Shipping around March 23 and April 26, 2007, respectively, directly from the shipyard.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Contracts

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1208 sec (8 req/sec)