Marine Link
Tuesday, October 17, 2017

Charter Agreements

Seanergy Enters Time Charter Agreement

Seanergy Maritime Holdings Corp.  has entered into a new time charter agreement for one of its Supramax vessels. The M/V Davakis G., a 54,051 Supramax dry bulk carrier built in 2008, has entered into a time charter agreement for a period of about twelve to about eighteen months at a gross charter rate of $14,500 per day with a first class charterer. The charter will commence following the completion of the M/V Davakis G.’s current voyage. As a result of this new time charter agreement, the company has now secured 93% of its ownership days for 2011, 64% for 2012 and 24% for 2013, based on the latest redelivery date of the charter party agreements.

Bibby Remote Intervention Expands Fleet

Olympic Ares, on charter to Bibby Offshore from April this year.

Bibby Remote Intervention Limited (BRIL), part of Aberdeen-based subsea installation contractor, Bibby Offshore, has further expanded its fleet by signing a charter agreement for an IRM (Inspection Repair and Maintenance) light construction vessel and adding an additional two ROVs (Remote Operating Vehicles) to its operations. The charter agreement with Olympic Shipping is for a newly built MT6021 vessel for a three year period, with options to extend for an additional two years

Rickmers-Linie Adds Ships to Middle East/India Service

Rickmers-Linie, Hamburg, signed a long-term chartering agreement with Samudera Indonesia, Jakarta, securing additional modern capacity to complement its existing fleet deployed on its Middle East and India service. The two multipurpose vessels chartered by Rickmers are the 8,900 dwt Sinar Kudus and 9,100 dwt Ardhianto, built in Japan in 1994 and 1999 respectively. Both ships have box-shaped holds and ‘tweendecks. Shipboard cranes enable Sinar Kudus to lift individual pieces of cargo

Euroseas Announces Charter Agreement for Container Ship

Euroseas Ltd., an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that a subsidiary of the Company has entered into an one-year period time charter agreement with Hull & Hatches Logistics (Dubai) for the M/V Quingdao I, a 1,169 teu, 1990 built feeder container ship, at a gross daily rate of $12,800. The vessel was renamed M/V Ninos

Seanergy Enters Three Time Charters

Seanergy Maritime Holdings Corp. announced today that it has entered into new time charter agreements for one of its Panamax vessels and two of its Capesize vessels. The M/V BET Intruder, a 69,235 dwt Panamax dry bulk carrier built in 1993, has entered into a time charter agreement for a period of about eleven to about thirteen months at a gross charter rate of $12,250 per day. The charter will commence after the completion of the M/V BET Intruder’s current trip.

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural Gas (LNG) carriers from France's Societe Generale. The two entities, Milaha Ras Laffan and Milaha Qatar, are chartered to RasGas under a 25-year time charter contract, with 14 years and 16 years remaining under the time charter agreement respectively, according to a bourse filing.

OSG to Build More Tankers

(Pictured is Overseas Houston) Overseas Shipholding Group, Inc. (OSG), signed an agreement in principle pursuant to which Aker Philadelphia Shipyard, a subsidiary of Aker American Shipping ASA, will build up to six additional Veteran Class MT-46 Jones Act Product Tankers (three fixed plus three options). Once transferred to another Aker subsidiary, American Shipping Corporation, OSG will bareboat charter the vessels for initial terms of 10 to 15 years

Euroseas Time Charter Renewals for Two Containerships

euroseas.bmp

Euroseas Ltd., (NASDAQ:ESEA) an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that two subsidiaries of the Company has entered into time charter agreement for the following vessels: M/V Ninos, a 1,169 teu, 1990 built feeder containership, has been extended for about 1 year at a gross daily rate of $11,200. The new rate will apply from the 1st of June 2011

FPSO Charter Bussiness for Offshore Brazil Oil Fields

FPSO Charter-Business for Offshore Brazil- Courtesy MOL

  MODEC, Mitsui, MOL and Marubeni to Proceed with the Deepwater FPSO Charter Project for Tartaruga Verde & Tartaruga Mestiça Oil Fields Offshore Brazil MODEC, Inc., Mitsui & Co., Ltd. Mitsui O.S.K. Lines, Ltd., and Marubeni Corporation have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business (“the Project”) currently promoted by MODEC for the purpose of providing a floating production, storage

Ocean Yield and Höegh Autoliners Charter Pact

Photo: Höegh Autoliners

 Ocean Yield ASA has agreed to certain amendments to the charter agreements with Höegh Autoliners (Höegh) for four PCTC vessels on long term charter.    Ocean Yield currently has two newbuilding PCTC vessels of 8,500 CEU capacity under construction at Xiamen Shipbuilding Industry Co. Ltd. The vessels are part of a series of six vessels, where Höegh has ordered four newbuildings and Ocean Yield two.   

Shell Exercises FPSO Turritella Purchase Option

FPSO Turritella (Photo: SBM Offshore)

Shell E&P Offshore Services B.V. will exercise its right under the charter agreement to purchase the floating production storage and offloading vessel (FPSO) Turritella, enabling a Shell affiliate to assume operatorship of the Gulf of Mexico ultra-deepwater Stones development in its entirety.   The company selling the FPSO is a joint-venture (JV) owned by SBM Offshore with 55 percent interest, Mitsubishi Corporation with 30 percent interest and Nippon Yusen Kabushiki Kaisha (NYK

d'Amico Tankers Updates Ship Sales and Purchases

Photo: ​ d’Amico ​Società di Navigazione SpA

 In January 2017, d’Amico Tankers sold MT High Endurance and MT High Endeavour, two 46,992 dwt medium-range product tanker vessels, built in 2004 by STX, South Korea, to Sea World Tankers a client of Sea World Management SAM, for a consideration of US$ 13.5 million each.    At the same time, d’Amico Tankers will maintain the commercial employment of the Vessels having also concluded with the Buyer a 4 years’ time-charter agreement at an attractive rate

Scorpio Tankers Updates on Fleet Status

Photo: Scorpio Tankers Inc

Scorpio Tankers sold and leased back, on a bareboat basis, three 2013 built MR product tankers, STI Beryl, STI Le Rocher and STI Larvotto to Bank of Communications Financial Leasing in April 2017.   The sales price was $29 million per vessel and the company bareboat chartered-in the vessels for a period of up to eight years at $8,800 per day per vessel.   The international provider in the transportation for refined petroleum products has the option to purchase these vessels

Scorpio Tankers Signs Sale-Leaseback with Bocomm

Photo: Scorpio Tankers

 Scorpio Tankers has agreed to sell and leaseback five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx) to Bank of Communications Financial Leasing  (Bocomm Leasing).     As of today, three of the five transactions have been completed, which has increased the Company’s liquidity by approximately $21 million in aggregate after the repayment of the outstanding debt.  

Dynagas, Gazprom in New Long-term Time Charter Contract

Photo: Dynagas LNG Partners

 Dynagas LNG Partners signed a new long-term time charter contract for the Clean Energy.   The Partnership, through one of its wholly owned subsidiaries, entered into a new long-term charter agreement with an affiliate of the Gazprom Group for the employment of its 2007 built 150,000 cbm steam turbine LNG carrier Clean Energy.    The charter is expected to commence in July 2018 and will have a firm term of seven years and nine months

Hapag-Lloyd Names First of Five 10,500 TEU Box Ships

ValparaĂ­so Express (Photo: Hapag-Lloyd)

Hapag-Lloyd held a naming ceremony for the first of its five new vessels in its new 10,500 TEU class containerships, Valparaíso Express.   Valparaíso Express was named by Rozío Gonzaléz – wife of Andrónico Luksic, Chairman of the Board of the Quiñenco Group – who performed the ceremony at the Terminal Pacifico Sur (TPS) in the port of Valparaíso, where the new ship will call regularly going forward

Diana Enters Time Charter Contract with Koch

Photo: Diana Shipping Inc

Diana Shipping has signed a time charter agreement with Koch Shipping Pte. Ltd, Singapore, for one of its newcastlemax dry bulk vessels.   Under the agreement, Koch will employ the 208,500 dwt newbuilding, to be named San Francisco, for a gross charter rate of $11,750 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to about 16 months.    The charter is expected to commence on 6 January 2017

EMGS Inks Charter for BOA Thalassa

BOA Thalassa Photo EMGS

Electromagnetic Geoservices ASA (EMGS) has signed a new charter agreement for the vessel BOA Thalassa with BOA SBL AS (owner of the vessel) at new and improved commercial terms. The new terms are valid through 1 October 2019 with an option to extend the new agreement through 1 April 2021. EMGS and the owners have agreed to a reduction of the charter hire rate by approximately 20%. EMGS and BOA SBL AS have also agreed to some additional flexibility during 2017

Nogaholding Secures $741 mln Loan for LNG Terminal

Image: Nogaholding

 Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA), recently hosted a dinner to mark the financial close of its LNG Terminal Project with Bahrain LNG WLL, the developer and owner of the first LNG receiving and regasification terminal to be developed on a public–private partnership (PPP) basis in the Middle East.   Dr Dafer Al Jalahma, CEO of nogaholding, said: "Led by K-SURE

D’Amico Sells Two MR Vessels

Photo: d’Amico ​Società di Navigazione SpA

 D’Amico International Shipping (DIS) announced that its operating subsidiary d’Amico Tankers (Ireland) sold MT High Endurance and MT High Endeavour, two vessels in favour of Sea World Tankers a clients of Sea World Management SAM, for a consideration of US$ 13.5 million each.   The two 46,992 dwt medium-range product tanker vessels were built in 2004 by STX, South Korea.    d’Amico Tankers will maintain the commercial employment of the Vessel having

Odfjell Orders Two Chemical Tankers

Odfjell SE has announced the signing of long term charter agreements for two chemical tankers with stainless steel cargo tanks, for construction in Japan.   The agreement includes two vessels of 35,500 dw tonnes and 28 stainless steel cargo tanks. They are scheduled for delivery in Q4 2018 and Q1 2019 and the agreements run for a minimum of eight years. The vessels will be built in Shin-Kirushima dockyard in Japan.  

d’Amico Delays Delivery of LR1 Tankers

Photo:  d’Amico ​Società di Navigazione SpA

 Tanker shipping company d’Amico Tankers agreed with Hyundai Mipo Dockyard Co.Ltd. – South Korea to postpone the delivery of its first newbuilding LR1 (Long Range – 75,000 dwt)from April 2017 to October 2017.   This agreement follows a specific request of an oil major and a key customer of the Company, which will take the vessel on a 18 month TC contract upon her delivery from Hyundai Vinashin Shipyard Co. Ltd. – Vietnam.   

Polarcus Amani Delivered to Sovcomflot

Polarcus Amani (Photo: Polarcus)

 A 5.5 year bareboat charter agreement between Polarcus Limited Norwegian subsidiary Polarcus Amani AS and SCF GEO AS (Sovcomflot) has been signed, and the vessel delivered to Sovcomflot in Bergen.   The vessel was delivered without streamers, providing the Polarcus fleet with one excess streamer package, which the company said will significantly reduce its capital expenditure requirements through 2017 and 2018.  

Hunter Buys Five Capsize Bulkers

Hunter Maritime Acquisition Corp. said it has entered into definitive agreements pursuant to which it has agreed to purchase, for an aggregate purchase price of $139.4 million in cash, five identified Capesize dry bulk carriers in an en-bloc transaction from five Cyprus-based companies affiliated with one or more members of the Oskar Wehr group of companies of Hamburg, Germany.   The vessels were built by Chinese shipyard New Times Shipbuilding Co. Ltd

NORDEN Grows Its Tanker Fleet

MR product tanker (Photo: NORDEN)

Danish shipping company NORDEN said it has purchased a 2009-built medium range (MR) product tanker with a cargo capacity of 50,000 metric tons. The South Korean-built vessel is expected to be delivered in July 2017 and will be renamed Nord Pearl.   Taking advantage of the decline in asset prices on the back of weakening tanker markets, the purchase marks NORDEN’s first tanker acquisition since the company sold three Handysize product tankers last year.  

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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