Cru News

Norway's biggest ferry company has ordered two new ferries from Havyard Design & Solutions, the first to use Havyard LAB's new three-step tool to become safer and more environmentally friendly. Havyard LAB offers a new three-step ship design tool that incorporates a vessel’s digital twin situated in simulated local conditions, a process it believes will result in a ship that is carefully adapted to its work and the waters in which it will be operating, while also cutting energy consumption, emissions and operating costs.

Europe’s second-largest seaport, the Port of Antwerp in Flanders, Belgium said that with a 6th year record, growth in all cargotypes and a recent wave of investments, 2018 will be a 'grand cru' year."The confirmation of the port's attractiveness and the consolidation of its position as a global player and the largest integrated European chemical cluster are essential to the continuity of its role as the largest economic engine of Belgium," claimed a press release from the port.With a growth of 5.2% compared to 2017, the earlier forecasts for a 6th consecutive year record are confirmed. The total transhipment in 2018 was 235.2 million tonnes…

With a 6th year record, growth in all cargotypes and a recent wave of investments, 2018 will be a 'grand cru' year for the Port of Antwerp, said an update of the annual figures by the company.According to the final annual figures for 2018, with a growth of 5.2% compared to 2017, the earlier forecasts for a 6th consecutive year record are confirmed. The total transhipment in 2018 was 235.2 million tonnes, a new record, with unprecedented growth in all cargotypes.The strong growth in container traffic continued to 130.9 million tonnes (+6.4%) or 11.1 million TEU (+6.2%). All trades recorded growth, both in supply and export, with the only exception of supplies from the Middle East and Latin America…

June seaborne iron ore imports to reach 98.22 mln Tons; local mills to ramp up output to reap large margins. China's June seaborne iron ore imports are on track to rise to a record high, data on Thomson Reuters Eikon showed, stoking concerns of oversupply as hundreds millions of iron ore are being stockpiled at Chinese ports. Iron ore arrivals for June are set to be 98.22 million tonnes according to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity Forecasts. That would be the highest ever for the Supply Chain data going back to February 2016. The iron ore consumed by the world's biggest steelmaker mainly arrives by ship from miners in Australia and Brazil.

CMA CGM Group is pleased to announce that the CMA CGM MANET will arrive in Sydney International Container Terminals in Australia on July, 22nd. The bottles of Burgundy Wine will then have completed the first part of their trip around the world, that began on June, 14th. On board the container a precious selection of some of Burgundy most exceptional wines selected by the “Confrérie des Chevaliers du Tastevin” - a guild celebrating its 80 anniversary this year - will be received by the Australian equivalent Order. The container will be reloaded back on the CMA CGM AZURE and sent back to France from Sydney on July, 28th. To celebrate the 80-years anniversary of the “Confrérie des Chevaliers du Tastevin”…

GasAtacama, energy provider to metal producers in Chile's Atacama desert, has lined up eight potential U.S. natural gas suppliers for a proposed import terminal on its Pacific Coast, but uncertainty about energy demand has delayed deals, CEO Rudolf Araneda told Reuters on Thursday. GasAtacama plans to build a $350 million offshore liquefied natural gas (LNG) import terminal that would take shipments of the fuel to help create 500 megawatts of electricity for power-hungry miners in the mineral-rich north.

Chilean copper miner Collahuasi said on Tuesday that it has received authorization to reactivate its Patache port in the country's north following a massive 8.2 magnitude earthquake and tsunami last week. "We just received authorization and a ship has already entered the port to load," Chief Executive Officer Jorge Gomez told Reuters on the sidelines of the CESCO/CRU copper conference in capital city Santiago. Gomez said the impact from the April 1 quake is "minor". (Reporting by Fabian Cambero; Writing by Anthony Esposito; Editing by Chris Reese)

Crude Carriers Corp. acquisition of Crude by Capital Product Partners L.P. (CPLP) in a unit-for-share transaction with Crude shareholders receiving 1.56 CPLP common units for each Crude share. (iii) the holders of a majority of the voting power of the shares of Crude common stock held by unaffiliated shareholders who are not affiliates of either Crude or CPLP, voting separately. According to the final tally of shares voted, approximately 8,447,729 shares of Crude common stock and 2,105,263 shares of Crude Class B stock voted for the approval of the proposal to adopt the merger agreement, representing approximately 60.8 percent and 100 percent, respectively, of the shares outstanding and entitled to vote.

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 and Exchange Commission. Revenues for the second quarter 2011 amounted to $9.8 million, which is lower compared to the $20.7 million in the second quarter of 2010. The Company’s drop in revenues reflects primarily the weaker crude tanker spot market, when compared to a year ago.

* Declared a cash dividend of $0.25 per share for the first quarter of 2011. * Reported first quarter net loss of $0.5 million or $0.03 per share (“EPS”). * Earned average Time Charter Equivalent (“TCE”) of $30,050 per day for the two Very Large Crude Carriers (“VLCCs”) and $18,536 per day for the three Suezmaxes in the Company’s fleet. * Announced on May 5, 2011 that Crude Carriers Corp. entered into a definitive agreement to  merge with Capital Product Partners L.P. (“CPLP”). Crude Carriers Corp.

CAPITAL PRODUCT PARTNERS L.P. ATHENS, GREECE, May 5, 2011 -Capital Product Partners L.P. (the "Partnership") (NASDAQ: CPLP), an international owner of modern double-hull tankers, today announces two important transactions, an increase in the investment of our Sponsor, Capital Maritime and Trading Corp. (“Capital Maritime”) in the Partnership and releases its financial results for the first quarter ended March 31, 2011. The Partnership is pleased to announce that on May 5, 2011 it entered into a definitive agreement to merge with Crude Carriers Corp. in a unit for share transaction.

ATHENS, Greece, March 14, 2011 – Crude Carriers Corp. (NYSE: CRU)  today announced that its Board of Directors has elected Dimitris P. Christacopoulos to serve as a Director on the Company’s Board. He will be an independent Board member and will serve on the Board's Audit and Independent Directors’ committees. Mr. Christacopoulos, 40, joined the Company’s Board on March 11th, 2011. Mr. Christacopoulos currently serves as a Partner at Octane Management Consultants. He started his…

· Reported fourth quarter net profit of $2.4 million or $0.15 per share (‘EPS’). · Earned average Time Charter Equivalent (‘TCE’) of $26,575 per day for the two Very Large Crude Carriers (‘VLCCs’) and $23,826 per day for the three Suezmaxes in the Company’s fleet. Crude Carriers Corp. (NYSE: CRU) reported its financial results and declared a cash dividend of $0.30 per share for the fourth quarter of 2010 payable on March 2, 2011 to shareholders of record on February 23, 2011. The Company’s net profit for the quarter was $2.4 million or $0.15 per share, principally as a result of the commercial operations of our vessels that earned above the TD 3 and TD 5 indices that prevailed in the  crude tanker market during the fourth quarter of 2010…

Crude Carriers Corp. (NYSE: CRU) reported its financial results and declared a cash dividend of $0.50 per share for the second quarter ended June 30th, 2010. These results are based on 267 total fleet available days due to the staggered delivery schedule of the vessels to the company during the quarter. Had all five vessels that comprised the company’s fleet at the end of June 2010 been delivered at the beginning of the quarter, total fleet available days would have been 455. On March 17 2010, Crude Carriers completed its initial public offering (“IPO”) of 13.5 million common shares at $19.00 per share, raising net proceeds of approximately…

Crude Carriers Corp. (NYSE: CRU) announced that it took delivery of the M/T Waltz to be renamed M/T Aias (150,096 dwt), June 3, 2010. In addition, the 12-month fixed-price option to acquire the M/T Atlantas from Capital Maritime & Trading Corp. commenced on June 1, 2010. The M/T Aias, a modern, high-specification Suezmax-class oil tanker was built in 2008 at Universal Shipbuilding Corporation in Japan, the same yard as its sister ship M/T Amoureux which was delivered to the company on May 10, 2010. The vessel was acquired at a purchase price of $66.2m, a cost significantly below the average 10-year historical values and is the fourth vessel of the Company's fleet to be delivered.

Crude Carriers Corp. (NYSE: CRU) announced that on March 26 it took delivery of the M/T Alexander the Great, a very large crude carrier (VLCC) with carrying capacity of 297,958 mt, from Universal Shipbuilding Corporation at the Ariake Shipyard in Japan. The M/T Alexander the Great is the first of the three vessels comprising the company's initial fleet and was acquired at a purchase price of $96.5m. The remaining two vessels, the M/T Miltiadis M II, a 2006-built high specification Suezmax tanker and the M/T Achilleas, a sister newbuilding VLCC currently under construction at Universal Shipbuilding Corporation in Japan, are expected to be delivered within the next few days and at the end of June 2010, respectively.

Crude Carriers Corp. announced that it has priced its initial public offering of 13,500,000 common shares at $19 per share. The underwriters have an option to purchase up to an additional 2,025,000 common shares to cover overallotments. Crude Carriers Corp. will use substantially all the proceeds from the offering, together with a $40m capital contribution from Crude Carriers Investments Corp., to acquire one 2006-built high specification Suezmax vessel from Capital Maritime & Trading Corp. at a price of $71.3m and two newbuilt very large crude carrier (VLCC) tankers for $96.5m each upon their delivery from the yard. The company’s common shares will trade on The New York Stock Exchange under the symbol CRU.