Marine link
 

Rs Platou

Zamakona Inks Agency Deal with Stewart Group

Zamakona Yards has signed an agency agreement with the Stewart Group, owned by RS Platou&Clarksons, the shipyard announced.   The agreement will see the Stewart Group will offer its customers Zamakona Yards repair and maintenance services both afloat and in our shipyards.   The Stewart Group was founded in 1922 by Samuel Stewart and was purchased in 2008 by the Platou Group. Subsequently the Platou/Stewarts group has been purchased by Clarksons in 2015. It operates globally with major offices in Aberdeen, London, Accra, Cape Town, Singapore and Houston.  


Scorpio Bulkers Raise Scope of IPO

Image courtesy of Scorpio Bulkers

Scorpio Bulkers Inc. say it has increased the size of its public offering from the initially announced 15,500,000 common shares to 31,300,000 common shares for gross proceeds of $305,175,000. The Company has granted the underwriters a 30-day option to purchase up to 4,695,000 additional common shares, and they say they plan to use all of the net proceeds of this offering to fund newbuilding vessel capital expenditures.


Shipping Lines Estimate Costs to Rise

Bloomberg reported that Neptune Orient Lines Ltd. and 11 of the largest shipping companies plying the Pacific Ocean said costs of moving cargo to the U.S. in 2006 will rise 7 percent on higher fuel prices, which may spur them to raise freight rates. The cost of transporting containers by trucks and railways will increase as much as 25 percent, the 12-line Transpacific Stabilization Agreement, whose members ship about 70 percent of trans-Pacific trade, said in a statement today.


Analysts: Demand for LNG Tankers Decreasing

Excess capacity in the global fleet of liquefied natural gas carriers will be at its highest this decade in 2008, as a growing worldwide fleet results in lower utilization rates, according to the Royal Gazette. Demand for LNG tankers has deteriorated markedly as a result of a large increase in fleet supply partly caused by speculative orders for new ships, industry analysts pointed out. Utilization of the LNG fleet will fall to 77


Crude Carries Pricing, Initial Public Offering

Crude Carriers Corp. announced that it has priced its initial public offering of 13,500,000 common shares at $19 per share. The underwriters have an option to purchase up to an additional 2,025,000 common shares to cover overallotments. Crude Carriers Corp. will use substantially all the proceeds from the offering, together with a $40m capital contribution from Crude Carriers Investments Corp., to acquire one 2006-built high specification Suezmax vessel from Capital Maritime & Trading


Braemar to Buy Shipbroker peer ACM; M&A Activity Heats Up

Braemar chief executive James Kidwell.

Braemar Shipping Services will buy fellow British shipbroker ACM Shipping Group in the latest industry shake-up as players look to grow after years of freight market turmoil. In the biggest deal to date, Braemar, whose businesses include ship broking, said on Tuesday it had agreed to acquire the entire share capital of ACM. "What this transaction is about is growing our shipbroking presence collectively," said Braemar chief executive James Kidwell.


RS Exhibits at Kormarine 2013

Pavel Shikhov

Russian Maritime Register of Shipping (RS) will participate in Kormarine 2013 in Busan, Republic of Korea, one of the largest international exhibitions of maritime industry. On 22-25 October the foremost exhibition of the maritime industry in Asia will gather leaders of shipbuilding industry. RS will undertake a scaled-up participation in this event. The first RS office opened in Korea in 1996 was originally oriented to render its assistance to ships in service in the first place


Ship Glut Burdens LNG Tanker Market, Slashes Profits

LNG carrier rendering courtesy of MOL

By Jonathan Saul and Oleg Vukmanovic, Reuters Deliveries of new gas tankers have created a glut that is threatening to tip some operators into losses, just as other shipping markets emerge from their worst downturn in decades. The liquefied natural gas (LNG) tanker market was until recently the only bright spot in an otherwise depressed freight industry. A global surge in the demand for gas, led by Japan in 2011, boosted trade


Mideast Crude Tanker Rates Struggle in Ship Glut

Crude oil tanker earnings on the major Middle East route were steady this week, helped by light bookings although rates have yet to rebound after a recent surge late last month. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan <DFRT-ME-JAP> on Thursday reached W42.57 in the worldscale measure of freight rates, or $14,080 a day when translated into average earnings, the latest Baltic Exchange data showed.


Essar Ports Profit Jumps 15%

  Essar Ports Limited today announced its unaudited results for the full year and quarter ended March 2015. Key Highlights: ·         Essar Ports takes over the Vizag Iron Ore outer harbor terminal with 2 berths on 14th May 2015. Existing operational terminal with no gestation period. Refurbishment of terminal to happen alongside operations. Financial Performance for  FY’15


Baltic Index Hits Near 5-month High On Improving Vessel Rates

© Gang / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near 5-month high on Thursday, driven by stronger demand across vessel segments. The overall index, which factors in rates for capesize, panamax


Hedge Funds Watch U.S. Refinery Restarts

File Image (CREDIT: AdobeStock / (c) Jason Lee)

Hedge funds are betting crude oil stocks will adjust quickly to the aftermath of Hurricanes Harvey and Irma but gasoline and distillate inventories may take more time to normalise.   Hedge funds and other money managers increased their combined net long position in the five major petroleum


Baltic Index Hits near 3-year High

© Valentin Kundeus / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near three-year high on Monday, supported by higher rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax


Capesize Rates Lift Baltic Index near Three-year High

(File photo: Songa Bulk)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hovered near a three-year high, supported by robust rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Surges on Strong Demand for Larger Vessels

(Photo: NORDEN)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, notched its biggest one-day percentage gain in five months on Thursday, buoyed by soaring demand for larger vessels.   The index, which factors in rates for capesize, panamax


Baltic Index Rallies as Larger Vessel Rates Surge

© norinut / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, jumped more than 4 percent on Friday as demand for capesize and panamax vessels remained strong. The overall index, which factors in rates for capesize, panamax


Adani Ports Net Dips 14% in Q1

Photo: Adani Ports & SEZ

India's Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and the logistics arm of $12 billion Adani Group, saw a 13.65% fall in net profit at INR 710.25 crore (USD 111 million) for the first quarter ended June on account of higher tax.  


Baltic Index Continues Winning Streak

© Andrey Sarymsakov / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Wednesday continued its winning streak as demand for capesize vessels strengthened. Rising for the thirteenth straight session, the overall index, which factors in rates for capesize, panamax


Strong Capesize Rates Push Baltic Index Higher

File Image (CREDIT: AdobeStock / (c) Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday as rates for capesize vessels moved higher. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 40 points, or 3


Baltic Index Posts First Drop in 3 Weeks

© Lukasz Z / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Tuesday snapped a 16-day winning streak, weighed down by weaker demand for capesize vessels. The overall index, which factors in rates for capesize, panamax


Baltic Index Slides on Lower Rates for Larger Vessels

© Roman Stetsyk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped for the second straight session on Wednesday, hurt by falling rates for larger vessels. The overall index, which factors in rates for capesize, panamax


Baltic Index Dips Again on Sagging Capesize Rates

File Image (CREDIT: AdobeStock / (c) Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the third consecutive session on Thursday, weighed down by weaker rates for larger vessels.   The overall index, which factors in rates for capesize, panamax


Baltic Index Edges Higher on Firmer Capesize Vessel Rates

File photo: Star Bulk

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched up on Friday, after declining for three-consecutive sessions, as rates for capesize vessels gained. The overall index — which factors in rates for capesize, panamax


Arctech Helsinki Shipyard Awards Contract to MELCAL

(Image: Arctech)

MELCAL said it has received a new contract from Arctech Helsinki Shipyard for the design and production of two ATEX Zone 1, IIB T3 cranes to be installed onboard an icebreaking arctic tanker.   The hose handling cranes will feature heated cabins and are designed to handle both cargo hoses


Baltic Index Gains Nearly 3 Percent

© Evren Kalinbacak / Adobe Stock

The Baltic Exchange's main sea freight index rose nearly 3 percent on Wednesday to post its biggest percentage rise in three weeks as rates for all vessel segments perked up. The overall index tracking rates for ships carrying dry bulk commodities was up 35 points at 1,250 points.






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