Evergreen Charters Twelve 11,000 TEU Newbuilds
Evergreen Marine Corp. (EMC) entered into an agreement with Shoei Kisen Kaisha to charter twelve 11,000 TEU class containerships. The charter parties were signed by EMC Chairman Anchor Chang and President of Shoei Kisen Kaisha Yukito Higaki. The plans to charter these vessels were approved early last month at the board meetings of Greencompass Marine S.A. and Evergreen Marine (Hong Kong) Ltd. respectively. The two subsidiaries of EMC will each charter six vessels.
Russia Could Take 2-5 Months to Exit Oil Output Deal
Russian Energy Minister Alexander Novak said on Monday it could take two to five months to exit a global oil output cut deal with OPEC and non-OPEC countries if and when such a decision was taken…
Wight Shipyard to Build New Danube River Ferry
U.K. shipbuilder Wight Shipyard Co has secured an order to build a new 39-meter low wash, high-speed catamaran ferry for operation by Twin City Liner on the Danube River between Vienna and Bratislava. The new vessel is scheduled to be delivered in time for the 2019 summer season, starting at the end of March. Incat Crowther said it was selected as the designer after its staff viewed the operation on the Danube first-hand…
BP, Kosmos Move Closer to Senegal and Mauritania Offshore Project
BP and Kosmos Energy have moved closer to approving development of the Tortue natural gas field offshore Mauritania and Senegal after the two West African countries…
Eni Ramping up Production at Zohr Field
Production from Egypt's huge Zohr offshore gas field in the Mediterranean will reach 2.9 billion cubic feet per day by mid-2019, Italy's Eni said on Monday. Speaking at an industry event in Cairo…
Sembcorp Marine Faces Exchange Query after Big Shares Fall
Shares of Singaporean rig-builder Sembcorp Marine closed 12 percent lower on Monday, their biggest daily fall in nine years, prompting a query from the bourse regarding the trading activity. This is the second time in a month the Singapore stock exchange has issued a trading query to Sembcorp Marine after a sharp rise in the stock on Jan. 23. Shares of the company closed down 32 Singapore cents at S$2.37 on Monday. They have risen 29 percent so far this year.
Schulte's PRONAV Acquisition Greenlighted
The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV. With this strategic move…
OPEC Sees Balanced Oil Market by Year-end
OPEC said on Monday the world oil market would return to balance only towards the end of 2018 as extra barrels from the United States and other non-member producers offset an OPEC-led deal intended to clear a supply glut. In a monthly report, the Organization of the Petroleum Exporting Countries said outside producers would boost supply by 1.4 million barrels per day (bpd) this year. That was the third consecutive rise from 870,000 bpd forecast in November.
Diamond Offshore Revenue Beats Estimates
Diamond Offshore Drilling Inc's fourth-quarter revenue beat analysts' estimates on Monday, helped by higher demand for its ultra-deepwater rigs. The company's revenue from its ultra-deepwater rigs rose more than 24 percent to $288.28 million in the fourth quarter. Total revenue fell nearly 12 percent to $346.21 million, but beat analysts' estimate of $331.91 million, according to Thomson Reuters I/B/E/S.
Interview: Terry MacRae - CEO, HMS Global Maritime
Terry MacRae founded Hornblower Yachts, LLC (doing business as Hornblower Cruises & Events) in 1980, and serves as Chief Executive Officer, the President and is also its owner. MacRae is the Co-founder of HMS Global Maritime and the American Queen Steamboat Company, and serves as Chief Executive Officer of Alcatraz Cruises, LLC, Statue Cruises, LLC, Hornblower Canada Co., Hornblower Cable Cars, Inc. and HNY Ferry, LLC (doing business as NYC Ferry).
SSY Atlantic Capesize Index Rose 826 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose by 826 points in the week ending Monday to 7,164. "The improvement in the Atlantic Capesize Index rose this week by 826 points to 7,164 and remains well above the corresponding levels of the previous two years. Chartering activity from Brazil helped push round voyage rates (180k dwt) and fronthaul rates both up by $3,350/day week-on-week, to $14,100/day and $25,750/day, respectively," SSY said.
SSY Pacific Capesize Index Gain 602 Points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index gain 602 points in the week ending Monday to 4,674. "A weekly gain of 602 points lifted the SSY Pacific Capesize Index up to 4,674 points. This is more than 1,800 points above the year-ago level. Round voyage rates in the Pacific (180k dwt) rebounded by $2,300/day last week to $14,100/day, while the Dampier-China iron ore spot rate was up by $0.55/t to $6.80/t."
How Much is That Superyacht Worth?
Sam Tucker Will Tell You! There’s a new name in Superyacht valuation, and the name is VesselsValue.com. Last month we spoke with VesselsValue.com’s Sam Tucker for insights on its new Superyachts report. Many of our readers know VessselsValue, but for those who do not, please provide a brief description of the organization and its offering. Launched in 2011 by Richard Rivlin, a ship broker with 40 years of buying and selling experience…
High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship
Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting…
EU Tells Turkey to Avoid Damaging Actions after Cyprus Ship Incident
The European Union on Monday called on Turkey to avoid threats and "refrain from any actions that might damage good neighbourly" ties after Cyprus, a member of the bloc…
Southern Ocean Bags New Contract
The construction support vessel Southern Ocean, owned by a joint venture between Bourbon Offshore Norway and Oceanteam, has secured a new contract in the APAC region. "CSV Southern Ocean secures a new contract and will start operations by mid of February 2018 for a firm period of 30 days and options to extend with 60 days. The Construction Support Vessel has been assigned to multiple smaller projects within the APAC region," said a statement.
Iran Cancels Norwegian FLNG Project
Iran oil minister Bijan Namdar Zangeneh said that the agreement signed with the Norwegian IFLNG company has already been annulled. A report in the Trend said that the deal with Norwegian Hemla was cancelled following the criticism by some Iranian MPs. The report quoted Iran’s oil minister Bijan Namdar Zanganeh saying that the deal is cancelled following the some criticism regarding the contract terms.
Ocean Yield Acquires Four VLCC
Ocean Yield has announced that 100% owned subsidiaries of the Company have agreed to acquire four VLCC crude tankers with 15-year bareboat charters to companies owned and guaranteed by Okeanis Marine Holdings. All four vessels are sub-chartered to the shipping arm of a large industrial conglomerate for a period of 5 years. The gross purchase price is USD 83.75 million per vessel and the net cash purchase price is USD 74.25 million after a seller's credit of USD 9.50 million.
Rotterdam Port in Container Shipping Partnership with Barge Terminal Tilburg
Barge Terminal Tilburg, Combined Cargo Terminals, Moerdijk Container Terminals and Danser Group have joined forces, agreeing to combine cargo along the route between Tilburg, Moerdijk and the port of Rotterdam. This allows them to cut back on the number of vessels required – resulting in less congestion during handling in the port of Rotterdam. The collaboration between these private parties and Rotterdam’s…
Solstad Farstad Bags New Contracts
TAQA Bratani has awarded Solstad Farstad ASA a contract for the Platform Supply Vessel PSV Far Spica (2013, PSV 08 CD Design). The contract is the duration of TAQA’s mobile drilling Campaign in the UK Sector, which is approx. 18 Months, with expected commencement in Q1 2018. Far Spica is currently trading the North Sea Spot Market. AGR Well Management Limited has awarded SOFF a contract for the PSV Normand Aurora (2005, P105 Design).