Capital Product Bags 3 MR Charters
Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers. The M/T 'Amadeus' (50,108 dwt, IMO II/III Eco Chemical/Product Tanker built 2015, Samsung Heavy Industries (Nigbo) secured employment with Repsol Trading for one year (+/- 30 days) at a gross daily rate of $14,500. The charterer has the option to extend the time charter for an additional year (+/-30 days) at a gross daily rate of $14,750. The new charter will commence in October 2017. The M/T 'Aktoras' (36,759 IMO II/III Chemical Product Tanker built 2006 Hyundai Mipo Dockyard, South Korea) and the M/T 'Aiolos' (36,725 IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) have been chartered to Capital Maritime & Trading for ten to twelve months at $11,000 gross per day plus 50/50 profit share on actual earnings settled every six months. The vessels have been trading on voyage or short time charters following the expiry of their employment with BP Shipping Limited at the end of the first quarter of 2017. The new charters are expected to commence in September. The employment of M/T 'Aktoras' and M/T 'Aiolos' with Capital Maritime were unanimously approved by the Conflicts Committee of the Partnership.
Greek Owners CPP Charter Out Three Tankships
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.
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
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 Tankers get Contracts
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
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
AVEVA Acquires 8over8 Limited
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)
PensionDanmark, Danica Roll Out $300mln Maritime Investment Fund
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.
Hapag-Lloyd Completes Capital Increase
Hapag-Lloyd has successfully completed the capital increase with subscription rights agreed upon on 28 September 2017. By partially utilizing the authorized capital, the gross issue proceeds amount to approximately EUR 352 million (approx. USD 414 million). 96.5 percent of the existing shareholders exercised their subscription rights. A total of 11,717,353 new no-par value shares were placed at a subscription price of EUR 30.00 each
AHTS Fleet Secures Long-Term Investment
Hartmann Group, the independent family-owned shipping company, announces the recapitalisation of an 11-strong fleet of Anchor Handling Tug Supply (AHTS) vessels through a partnership with, and long-term investment from, Breakwater Capital and Hayfin Capital Management. Agreed with the financing banks on October 12 2017, the deal provides the fleet with immediate stability and the potential for growth.
WESMAR to Showcase New Stabilizer Technology
WESMAR said it will display its stabilizers, thrusters, sonar and hydraulics at the 58th Fort Lauderdale International Boat Show November 1 to 5, 2017. Held in what is known as the “Yachting Capital of the World,” the exhibition covers an area 9-miles-long and draws visitors from around the world. “As boat values continue to increase and moorage and dock space become more crowded, WESMAR products have become among the most important equipment owners and captains have
Victor Restis Buys Stake in Globus Maritime
Globus Maritime Limited, a dry bulk shipping company, announced that it has signed a share and warrant purchase agreement providing for the issuance, for gross proceeds of $2.5 million in a private placement to a private investor. The Company intends to use the proceeds from the sale of common shares and warrants for general corporate purposes and working capital. Georgios Feidakis, Globus's Chairman
The Shipowners' Club Reports Steady Half Year Results
The Shipowners’ Club, the leading P&I insurer in the smaller and specialist vessel sector, has reported steady financial results for the six months ended 30 June 2017, despite challenging market conditions. The Club recorded a 99.3% combined ratio, consistent with previous years. The modest underwriting surplus achieved in the first six months of US$ 0.7m has been supplemented by a favourable return on the Club’s investment portfolio
Jamaica, Malta Accede to BWMC
Jamaica and Malta have become the latest States to sign up to International Maritime Organization (IMO)'s Ballast Water Management Convention – the international treaty requiring ships to manage their ballast water to help stop the spread of invasive aquatic species across the globe. The Convention entered into force earlier this month (8 September) and a total of 65 signatories now represent 73.92% of the world's merchant fleet tonnage.
BWTS Manufacturer OceanSaver Bankrupt
Insufficient liquidity has led Norwegian ballast water treatment system manufacturer OceanSaver to file for bankruptcy. The company’s board of directors filed a petition to dissolve the company on September 13. Established in 2003, OceanSaver was among the first suppliers to be approved by IMO in 2008 and obtained USCG type approval in December 2016. However, OceanSaver said it faced “significant downward pressure on equipment prices
Houthi Leader Says Could Target Saudi Oil Tankers
Yemen's Houthi leader Abdel-Malek al-Houthi said on Thursday his group could target Saudi oil tankers should Saudi Arabia attack Yemen's main port at Hodeida. "We could target Saudi oil tankers and we could do anything, we have not done this before," he said. In a televised speech, the leader also said his group's ballistic missiles were capable of reaching the United Arab Emirates' capital of Abu Dhabi and anywhere inside Saudi Arabia.
PD Ports Warns UK Against 'Brexit Blinkers'
In the week that global maritime leaders gave the UK a vote of confidence, naming it one of the world’s leading maritime centres, PD Ports is urging UK businesses not to develop ‘Brexit blinkers’ but instead to explore significant new global opportunities as the UK negotiates its exit from the EU. Industry data shows UK export performance as a whole has been stronger outside the Single Market than within the EU over the last decade according to PwC’s UK
DP World to buy Dubai Maritime City, Drydocks World
DP World said on Monday that it had entered into a deal to buy two other Dubai state-owned maritime companies for a total of $405 million. The Dubai-based ports operator will acquire Maritime World, the 100 percent owner of Dubai Maritime City, for a purchase consideration of $180 million, and 100 percent of Drydocks World by means of a capital injection of $225 million. Both deals are expected to close before the end of the first quarter of 2018, it said.
ST Engineering Invests In Cyber Security
Singapore Technologies Engineering Ltd (ST Engineering) announced that its Corporate Venture Capital unit, ST Engineering Ventures Pte Ltd (ST Engineering Ventures) has made a Series B investment of $5.79m for a minority interest in Janus Technologies, Inc., an endpoint cyber security provider based in California. “This is the first investment by our Corporate Venture Capital unit in companies with cutting edge technologies or breakthrough innovations
Brookfield Completes Acquisition of Teekay
Teekay Corporation and Teekay Offshore Partners announced that they have completed their previously announced comprehensive transaction with Brookfield Business, together with its institutional partners (collectively Brookfield). “With this comprehensive transaction now completed, Teekay looks forward to working with Brookfield as co-sponsors of Teekay Offshore to support the Partnership’s continued growth,” commented Kenneth Hvid
Torqeedo Acquired by DEUTZ
Torqeedo Acquired by DEUTZ Independent engine manufacturer DEUTZ announced it has acquired Torqeedo, provider of electric drive systems for watercraft. As an independent subsidiary of DEUTZ AG, Torqeedo will continue product development under its established Torqeedo brand and with its current leadership. Founded 12 years ago in Starnberg, Germany, and supported by venture capital so far, DEUTZ said the acquisition marks a new phase in its development.
Hapag-Lloyd to Raise Capital Following Merger with UASC
Hapag-Lloyd AG will now carry out the capital increase that was agreed upon as part of the merger of Hapag-Lloyd and UASC. The gross proceeds are expected to amount to approx. EUR 352 million (approx. USD 414 million). The official merger of the two companies occurred on 24 May 2017. At the Annual General Meeting on 29 May 2017, the shareholders approved new authorised share capital for a capital increase
Vitol Returns for $8 Bln Loan Refinancing
Geneva-headquartered energy and commodities trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2016, the company announced on Wednesday. The revolving credit facility, which is used for working capital and general corporate purposes, comprises a three-year tranche and a 364-day tranche. The three-year tranche totals over US$7bn. ABN AMRO Bank, Commerzbank, Credit Agricole CIB