Marine link
 

Capital Product

Greek Owners CPP Charter Out Three Tankships

MT Avax: Image courtesy of CPP

Capital Product Partners L.P. (CPP) an international diversified shipping company, says it has secured time charter employment for the M/T ‘Avax’, M/T ‘Agisilaos’ and M/T ‘Alkiviadis’. M/T ‘Alkiviadis’ (36,760 dwt, IMO II/III Chemical/ Product Tanker built 2006 Hyundai Mipo Dockyard, South Korea) was employed with CSSA S.A., a fully owned subsidiary of Total S.A., for one year (+/‐ 30 days) at a gross daily rate of $14,125. CSSA S.A. has the option to extend the charter for an additional year (+/‐ 30 days) at $15,125 gross per day. Previously the vessel was employed under a time charter to Capital Maritime & Trading Corp. (‘CMTC’) at a gross rate of $14,250 per day. The new charter commenced in September 2014. This marks the opening of a new time charter relationship of CPLP with CSSA S.A. (Total S.A.). M/T ’Avax’ (47,834 dwt, IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) was chartered to our sponsor, CMTC, for one year (+/‐ 30 days) at a gross daily rate of $14,750. CMTC has the option to extend the charter for an additional 12 months (+/‐ 30 days) at a gross day rate of $15,250. The charter is expected to commence in September 2014. Previously the vessel was employed under a time charter to BP Shipping Ltd. at a gross rate of $14,700 per day.


Capital Product Partners L.P. Announces One Year Time Charter

Capital Product Partners L.P. (CPLP) has  announced the chartering of the M/T Avax to BP Shipping. The M/T Avax (47,834 dwt, IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) was chartered in October 2013 to BP Shipping for a minimum charter term of one year (+/- 30 days). BP Shipping has the option to extend the charter for an additional 12 months at a gross day rate of $15,600 per day.


CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES THE SUCCESSFUL CHARTERING OF THE M/T AXIOS TO PETROBRAS FOR 12 MONTHS

ATHENS, Greece, March 8, 2011 -- Capital Product Partners L.P. (the "Partnership") (Nasdaq: CPLP), an international owner of modern double-hull tankers, today announced the successful chartering of the M/T Axios to Petroleo Brasileiro S.A. (Petrobras).  The M/T Axios (2007 Build, Hyundai Mipo 47,823 DWT, Ice Class 1A) was fixed at a gross daily charter rate of $13,500 to Petrobras for 12 months (+/- 30 days)


Crude Carriers: Approval of Merger with CPP

Crude Carriers Corp. (NYSE: CRU) announced that, at a special meeting of Crude shareholders held today in Piraeus, Greece, its shareholders have approved the proposal to adopt the merger agreement dated May 5, 2011 providing for the 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. The consummation of the merger was subject to approval by: (i) the holders of a majority of


CPLP, OSG Reach Conditional Agreement

Capital Product Partners L.P. (the "Partnership" or CPLP) (NASDAQ: CPLP) has reached a conditional agreement with Overseas Shipholding Group Inc. (OSG) and certain of OSG's subsidiaries regarding the long term bareboat charters of three of its product tanker vessels. On November 14, 2012, OSG made a voluntary filing for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware


Capital Product Partners Tankers get Contracts

Image: Capital Product Partners

 Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.   The NASDAQ-listed company has announced the successful acquisition of the MV 'Akadimos,' as well as new time charter employment for the MT 'Active' and MT 'Anemos I' and a charter extension for the MT 'Atrotos


AVEVA Acquires 8over8 Limited

Richard Longdon, CEO, AVEVA

AVEVA has acquired 8over8 Limited, providing the software platform for AVEVA to address the current global need for increased project control, capital discipline, minimizing project overruns and delivering improved efficiency in operations, the company said.   8over8’s flagship product is ProCon, a risk management software platform that connects Owner Operators (OOs) and Engineering Procurement Construction companies (EPCs) throughout the project life cycle


Partnership Targets Waste Conversion Solutions

Terragon Environmental Technologies Inc. has entered into a strategic partnership with Green Marine Capital (GMC) in an effort to enable off grid sustainability by developing and commercializing simple compact and economical products that allow any habitat to convert its waste into useful resources, such as energy and clean water, Terragon said. Terragon’s first commercially available product, the patented Micro Auto Gasification System (MAGS)


Twin Disc Slashing Costs under Market Pressure

Power transmission equipment company Twin Disc, Inc., announced additional restructuring and cost reduction activities aiming to further reduce expenses, as a result of challenging global market conditions within the company's oil and gas, global pleasure craft and Asian commercial marine markets.   Twin Disc said it expects $4.3 million of annual savings from these actions once fully implemented, plus a further $6 million of annual savings announced in the fiscal 2015 fourth quarter.


PensionDanmark, Danica Roll Out $300mln Maritime Investment Fund

Photo: PensionDanmark A/S

 PensionDanmark, Danica and Navigare Capital Partners have established the Maritime Investment Fund I, which, based on capital from the founders, shall build a diversified portfolio of maritime assets including dry bulk, container, offshore, product, crude oil and chemical tankers, to put on charter to operators.   The fund will be managed by Navigare Capital Partners, which consists of partners with broad based shipping experience.  


Coldharbour, Hansun Ink China Distribution Deal

From right to left: Andrew Marshall, CEO Coldharbour Marine Ltd (seated) and Graham Cole CBE, Chairman, Coldharbour Marine Ltd (standing). On the left, Jason Lee, General Manager, Hansun (Shanghai) Marine Technology (seated) and Simon Gu, Chairman, Hansun (Shanghai) Marine Technology (Photo: Coldharbour Marine)

Coldharbour Marine, developer of a unique in-tank, in-voyage and inert gas-based ballast water treatment system for large tankers, bulkers and LNG vessels, has signed an agreement with Hansun (Shanghai) Marine Technology Co Ltd covering the marketing and distribution of Coldharbour products in


Hapag Lloyd Completes Merger with UASC

File photo: Hapag-Lloyd

German shipping line Hapag Lloyd and Arab sector peer UASC have completed a delayed merger which creates the world's fifth-biggest shipping company. The German company said on Wednesday that the deal to combine the two businesses, announced in April 2016 and sealed in July last year


Hapag-Lloyd, UASC Complete Merger

Photo: UASC

 Hapag-Lloyd and United Arab Shipping Company (UASC) merged yesterday (May 25, 2017). The merger between the two liner shipping companies was completed in Hamburg.    With 230 vessels and a shared fleet capacity of approximately 1


MARAD Funding Available for Small Shipyards

© Bogdan Vasilescu / Adobe Stock

The U.S. Maritime Administration (MARAD) has made available nearly $10 million in grant funding for improvements to small shipyards.   There is currently $9.8 million available under the Small Shipyard Grant Program for capital and related improvements to qualified shipyard facilities that


Updated Forecast: Floating Production System Orders

© ggw / Adobe Stock

World Energy Reports has released its midterm five year forecast of production floater orders. The forecast, detailed in the March 2017 WER report, reflects positive and negative developments in underlying business drivers since WER’s five year forecast last October.  


NCL Makes Inaugural Call to Cuba

Norwegian Sky in Havana (Photo: Norwegian Cruise Line)

 Norwegian Cruise Line’s first ship to sail to Cuba, Norwegian Sky, has made her maiden call in the capital city of Havana.   “Today is a momentous day for Norwegian Cruise Line, our guests and our travel agent partners, as we open our doors to Cuba’s natural beauty


Another Dry Bulk Ship Delivered to Golden Ocean

Golden Ocean Group Limited has taken delivery of dry bulk vessel Q Kennedy, to be renamed Golden Kennedy.    The vessel is the third of 16 dry bulk vessels recently acquired by Golden Ocean in an all-share transaction where the company will issue in aggregate 17


d'Amico Bullish on Product Tankers

 d'Amico International Shipping believes that the supply-demand balance in the product tanker freight market is improving.   The key drivers that should affect the product tanker freight markets are (i) global oil supply (ii) the crude oil price and refinery margins (iii) demand for


London Eyes Top Maritime Center Slot

Photo: UK Chamber of Shipping

 London has risen from sixth place overall in 2015 to fifth place this year the world’s top maritime centre in Menon Economics’ Leading Maritime Capitals of the World report for 2017 – despite the uncertainty of Brexit.  


EALs Rise Up on Deck

Boat Image.jpg

The next critical area of consideration for the use of Environmentally Acceptable Lubricants is on deck. What’s leaking into the water from your cranes and winches?    Vessel fleets face an increasing number of environmentally-focused regulations


Scorpio to Sell Two MR Product Tankers

Photo: Scorpio Tankers Inc

Scorpio Tankers, provider of marine transportation of petroleum products, announced that it has reached an agreement with an unrelated third party to sell two of its 2013 built MR product tankers (STI Sapphire and STI Emerald) for approximately $56.4 million in aggregate. 


GOGL Takes Two More Vessels from Quintana

Image: Golden Ocean Group Ltd

 Golden Ocean Group (GOGL)  said it has taken delivery of additional two vessels, Q Myrtalia and Q Shea, from Quintana Shipping  in exchange for 1.95 million consideration shares.   A statement from the company said: "Reference is made to the stock exchange notice dated


New Bunker Supplier Eyes Houston/Galveston Market

File photo: Port of Houston Authority

GCC Bunkers said it seeks to establish itself as a leader in developing compliance solutions for the IMO global sulfur cap in 2020 and is operated by principals Mark VandeVoorde and John Mafrige. Longer term, GCC is actively evaluating several processing or manufacturing opportunities for post


Fincantieri Buys Majority Stake in STX France

File Photo: STX France

Italian shipbuilding company Fincantieri S.p.A. said it has signed a share purchase agreement for the acquisition of 66.66 percent of the share capital of STX France shipyard from its current shareholder STX Europe AS. The agreement entails a purchase price of €79.5 million ($89 million).


GOGL Adds Dry Bulk Vessel

Golden Shui. Photo: Golden Ocean Group Ltd

 Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of a dry bulk which it bought in March 2017.   On 14 March 2017, GOGL announced that it has entered into agreements to acquire 16 modern dry bulk vessels in an all-share transaction where the






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright