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Vessel Chartering Services News

15 Nov 2016

Rickmers Maritime: Uncertain Outcome casts Doubt on Business

Rickmers Maritime, a Singapore-listed trust that operates container ships, said it faces the risk of going out of business given the uncertain outcome of its discussions with bondholders and senior lenders about restructuring its debt. The firm said it would not be able to pay an interest of S$4.26 million, which is due on Nov. 15, on a S$100 million ($71 million) bond that it has been trying to restructure. "In view of the uncertain outcome of the discussions with senior lenders and the adjourned noteholders' meeting, the trust is unable to demonstrate that it is able to continue as a going concern," Rickmers said in a statement. Rickmers is also currently in discussions with its lenders to obtain waivers on its obligations under existing senior loan facilities.

15 Mar 2016

Thailand: Yang Ming, Regional Container Lines Pact On

Yang Ming Marine Transport Corp. (YM) inked a partnership agreement with Thailand’s Regional Container Lines (RCL) Group aimed at pooling the companies’ resources to weather a persisting downturn in the sector, according to a report in Taipei Times. The agreement  is expected to improve vessel utilization, reduce operating costs and expand coverage. The companies announced plans to expand bilateral cooperation on terminal operations in Taiwan and Thailand, slot exchange and vessel chartering services, as well as laden trucking and equipment interchange contracts. Due to slowing growth in developed markets, the companies are hoping to further tap the Asian market, where growth has been more resilient.

14 Jul 2014

Otto Marine Secures $404m Charter Contracts

Photo courtesy of Otto Marine

Otto Marine Limited, an offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, informed that the group has secured charter contracts worth approximately $404 million in the first half of 2014 (1H2014). Backed by long term relationships with leading oil and gas companies, Otto Marine said it holds an orderbook that stood at approximately $450 million as at June 30, 2014, with an average contract tenor of 3 to 5 years.

07 Jun 2012

Singapore's Swiber Win Major Offshore Contracts

These awards include offshore construction projects and vessel chartering services in the Asia Pacific region. In addition, it has received a letter of award (“LOA”) through its JV Company to charter out a spread of support vessels in the Middle East. Swiber’s contract wins in the Asia Pacific region include projects for engineering, procurement, and installation of pipelines, umbilicals, and subsea systems; and transportation and installation of wellhead structures and associated pipelines. In addition, the Group will provide vessel chartering services in the region. Work for these projects will commence immediately this year and will carry on into 2014.