Second Hand Vessels
India has eased norms for the import of ships, the government announced last week. Import of ships by open general license (OGL) under a bareboat charter-cum-demise method, which is similar to hire-purchase, will not need a technical clearance by the government, but will need an evaluation of the import price, officials said. "The price reasonableness (evaluation) and interest margin on rental payments will be verified by ICICI," a government spokesperson said, referring to bareboat charters. ICICI is one of India's leading finance firms. "However, the price reasonableness will be required only if the value of the imported vessel on CIF (cost, insurance and freight) basis is more than 10 million rupees," he added. New vessels imported under open general license will no longer need technical clearance and price evaluation, but the vessel at the time of registration will be surveyed by principal officer, Mercantile Maritime Department, and deficiency in the vessel, if any, will have to be removed before registration. Import of second-hand vessels with a CIF value of less than $230,000, will also not need technical clearances and price evaluation. The spokesperson said second-hand vessels that do not have a minimum "economic life" of five years will not be allowed to be imported under the guidelines.
Moody's Investors Service downgraded the senior unsecured rating for bonds issued by MC Shipping Inc to Caa3 from B3. The downgrade reflects the company's deteriorating unencumbered asset base, high leverage, tight liquidity position, weaker operating performance and continuing difficult market situation. Moody's lowered the senior implied rating for the group to Caa2 from B2 and the issuer rating to Ca from Caa1.
Costamare Inc report unaudited financial results for the third quarter and nine months ended September 30, 2012. Greek-based Costamere is a leading owner and provider of containerships for charter. The Company has a fleet of 57 containerships, with a total capacity of approximately 329,000 TEU, including 10 newbuild containerships on order. Financial highlights: • Voyage revenues of $94.9 million and $291
Highlights: Knightsbridge reports net income of $3.0 million and earnings per share of $0.10 for the fourth quarter of 2013. Excluding the results from discontinued operations, the company reports net income of $3.5 million and earnings per share of $0.123 for the fourth quarter. Knightsbridge reports EBITDA from continuing operations of $7.0 million and EBITDA from continuing operations per share of $0.24 for the fourth quarter of 2013.
Nauta Shiprepair Yard in Poland has signed two contracts in recent days for building partially outfitted fishing trawlers for its Danish client Karstensens Skibsvaerft AS. Within the first order Nauta will produce a partly outfitted vessel with length 69.9 meters and beam 14.2 meters. The B – 436 unit will be ready to hand over in March m2017. This vessel will be similar to the other seiners – Kvannoy and Beinur – which Nauta has built for Karstensens Skibsvaerft AS
DryShips has entered into agreements with unaffiliated third parties to purchase three Kamsarmax drybulk carriers built in 2014. One 81,918 DWT Kamsarmax drybulk carrier is built in 2014. The company expects to take delivery of this vessel during the second quarter of 2017. Two 81,129 DWT Kamsarmax drybulk carriers are also built in 2014. The purchase of these two second-hand Kamsarmaxes was previously announced and the company has now physically inspected and
The Saigon Shipbuilding and Maritime Industry Company (Saigon Shipmarin) signed a contract with Japan's Kanematsu Corp. to build two 6,500-tonne cargo vessels. These are the first cargo vessels that Saigon Shipmarin, a member of the Viet Nam Shipbuilding Industry Corporation (Vinashin), has built for export. The first vessel is expected to be handed over in March 2007 and the second, in July. The company has invested over VND 300 billion (over US $18 million) to expand its production scale
Nautisk unveiled its latest navigational solution: NaviTab from Nautisk, a unique concept that replaces a vessel’s onboard Navigational Publication library. Hundreds of books have been uploaded onto a hi-spec hand-held device, suitable for use both onshore and on the bridge. “Currently, all vessels sailing global routes must carry a full portfolio of navigational publications (NPs) in order to sail compliantly and meet SOLAS Regulation,” said Nautisk CEO Thomas Fjeld
In response to the Government of Canada’s announcement of a series of enhancements to strengthen the National Shipbuilding Strategy, Seaspan Shipyards’ president Brian Carter issued a statement commending the government’s efforts and reinforcing the shipbuilder’s role in producing ships for the Canadian Coast Guard and Royal Canadian Navy. “We are pleased to receive the Government of Canada’s support for the National Shipbuilding Strategy
Royal Boskalis Westminster N.V. (Boskalis) has been awarded the Offshore Balance of Plant contract by Vattenfall for the construction of Aberdeen Offshore Wind Farm, also known as the European Offshore Wind Deployment Centre. Following the announcement on 29 June stating that Boskalis was the preferred contractor, the contract has now been formally awarded. The project will consist of eleven wind turbines with a capacity of 92.4 MW
Amid structural and cyclical changes brought about by over-capacity, mega-alliances, increasing digitisation, as well as economic and geopolitical uncertainties, Singapore remains a premier global hub port and leading international maritime centre that held steady growth in 2016.
The port of Antwerp handled 54,324,303 tonnes of freight during the first three months of this year, 1.5% more than in the same period last year. The further growth is mainly due to container freight, which was up by 2% in terms of tonnage.
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
Bangladesh's State-owned Petrobangla has inked final deals with Summit LNG Terminal Co to development the country's second floating LNG terminal. The Financial Express reported that Summit group will install a Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali Island in
Greece-based GasLog Partners LP has reached an agreement to buy 100% of the shares in the entity that owns and charters the liquefied natural gas (LNG) tanker GasLog Greece from GasLog Ltd. The aggregate purchase price for the Acquisition will be $219 million
DryShips Inc. has entered into agreements with unaffiliated third parties to acquire four Newcastlemax bulk carriers of approximately 206,000 DWT and with an average age of 3 years. The company expects to take delivery of the vessels before the end of June 2017.
DryShips Inc. has entered into agreements to acquire six vessels for a total gross price of $268 million. It has also entered into an agreement with Kalani Investments Limited. These vessels are comprised of one Aframax tanker built in 2012, three Kamsarmax drybulk vessels
Alabama shipbuilder Horizon Shipbuilding, Inc. said it has delivered the second of 13 NYC Ferry vessels being built for NYC Ferry Operated by Hornblower, which will launch this summer. With sea trials and U.S. Coast Guard certification now behind her
Far out in the South China Sea, where dark blue meets bright turquoise, a miles-long row of fishing boats anchor near Scarborough Shoal, backed by a small armada of coastguard projecting China's power in Asia's most disputed waters.
Verifavia, an emissions verification company for the aviation and shipping transport sectors, has received a second accreditation by France’s national accreditation body Cofrac as a global EU monitoring, reporting, and verification (MRV) verifier
Air intake systems designer and manufacturer Veotec said it has supplied air inlet vanes (vertical louvers) and CP2 filters to U.S. shipbuilder Vigor for two pilot boats delivered to the Port of Duqm Company SAOC, Sultanate of Oman. Veotec's scope of supply for each pilot vessel included two
DryShips Inc has entered into a one year time charter with a major grain house for one of its 206,000 dwt Newcastlemax drybulk vessels for an expected duration of about one year. The Company anticipates a total gross backlog of $7
The first two passenger vessels built by Louisiana-based shipbuilder Metal Shark for New York's new NYC Ferry have been completed and are now making their way to New York. Late last week at Metal Shark's Franklin, Louisiana shipyard, the Incat Crowther-designed, 149-passenger
The team of Vuyk Engineering Rotterdam BV has welcomed the semi-submersible heavy transport vessel Xin Guang Hua owned by Cosco Shipping to the port of Rotterdam, where she will unload the Western Isle FPSO. The vessel has been built by Guangzhou Shipyard International (GSI) in
Royal Australian Navy apprentices have been working directly with industry in Adelaide, building on their initial trade training, and at the same time becoming part the next phase of naval warfare from the ground up. The Air Warfare Destroyer Alliance shipyard has provided a hand-on