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Genco to Sign Time Charter for Newly Acquired Vessels

Genco Shipping & Trading Limited announced that it has reached an agreement to enter into a time charter for two vessels it has recently agreed to acquire. The Genco Constantine, a Capesize newbuilding, is scheduled to be on charter with Cargill International S.A. for 54 to 62 months at a rate of $52,750 per day, less a 5% third party brokerage commission. The time charter for the Genco Constantine includes a 50% index-based profit sharing component. In addition, the Genco Warrior, a 2005-built Supramax vessel, is scheduled to be on charter with Hyundai Merchant Marine Co. Ltd. for 35 to 37.5 months at a rate of $38,750 per day, less a 5% third party brokerage commission.


Three Tankships Chartered by BAHRI

Saudi Arabia's National Shipping Company of Saudi Arabia (BAHRI) & National Chemical Carriers Company Ltd. (NCC) ink long term charter deal. The National Shipping Company of Saudi Arabia (BAHRI) announces that its 80% owned subsidiary The National Chemical Carriers Company Ltd. (NCC) signs time charter agreements for three chemical tankers with International Shipping and Transportation Company Ltd. (a subsidiary of Saudi Basic Industries Corporation) for a period of 5 years


Genco to Sign Time Charters for Drybulk Vessels

Genco Shipping & Trading Limited announced it has reached an agreement in principle to enter into a time charter for the Genco Carrier, a 1998-built Handymax vessel, with Pacific Basin Chartering Ltd. The Company also reached an agreement in principle to extend the time charter for the Genco Wisdom, a 1997-built Handymax vessel, currently on charter with Hyundai Merchant Marine Co., Ltd. Both time charters would be for eleven to


Evergreen to Charter 11 Containerships

From left: K.W. Chang, Evergreen Group Vice Group Chairman; Anchor Chang, Chairman of Evergreen Marine Corporation; Raymond Lin, Evergreen Group Vice Group Chairman; Bronson Hsieh, Evergreen Group Second Vice Group Chairman; Toshiyuki Higaki, Chairman of Shoei Kisen Kaisha; Kaoru Iwasa, Senior Managing Executive Officer of Marubeni Corporation; Yukito Higaki, President of Shoei Kisen Kaisha; and Shigefumi Mabuchi, Chairman of Marubeni Corporation Taiwan (Photo: Evergreen)

Evergreen Group signed time charter agreements with Shoei Kisen Kaisha, Ltd. (Shoei) to charter a total of 11 18,000 TEU vessels, which include the six units of the same capacity announced by Evergreen Marine Corp. (EMC) and its subsidiary last December. The charter parties were signed by EMC's Chairman Anchor Chang and Shoei's President Yukito Higaki. The ships are planned to be delivered from 2018 through 2019.  


Aker Philly Shipyard Lays Keel for Tanker

Aker Philadelphia Shipyard has layed the keel for the second vessel in the series, the sixth ship constructed at the yard since it started production in 2000. The first section of the double-hulled product tanker scheduled for completion in 2007 was installed in the yard’s Building Dock just a few hundred yards behind the first ship in the series, also currently under construction in the dock. When completed, each vessel will weigh 46


Stelmar Announces Two Time Charter Contracts

Stelmar Shipping Ltd. announced that it has signed the Aquamar and the Maremar, two modern double hull Handymax vessels purchased from the proceeds of the company's recent offering, to profitable time charter contracts. Both tankers currently trade in the spot market and are expected to be deployed on these time charters during the second half of August 2002. The Aquamar, a 1998 double hull product tanker delivered on July 15, 2002


Genco Plans to Sign Time Charter

Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to enter into a time charter for the Genco Vigour, a 1999-built Panamax vessel, with Global Maritime Investments Ltd. for approximately 10.5 to 13.5 months at a rate of $24,000 per day, less a 5% third-party brokerage commission. The time charter is expected to commence on or about January 8, 2010 following the expiration of the vessel's current time charter and is subject to the completion of definitive


GAIL, Gunvor Sign Time-Swap for U.S. LNG

File Image: CREDIT MISC

State-run gas company GAIL (India) Ltd has signed a time-swap deal with Swiss trader Gunvor to sell some of its U.S. liquefied natural gas (LNG), sources said, as the Indian firm tries to ease the burden of its costly foreign LNG supplies.   It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive.  


Qatargas 4 Signs LNG Timecharter

Qatargas 4 signed a time charter agreement with Nakilat to use eight of the latter’s mega LNG tankers to ferry liquefied natural gas to QG4 customers worldwide, according to a report on www.gulf-times.com. Four of the eight vessels are in the Q-Flex and the others in the Q-Max categories. In February, Nakilat had signed with Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering Company for the construction of four Q-Flex and four Q-Max class vessels


Seaspan Signs Contract for Five Ships

Seaspan Corp has signed contracts for Samsung Heavy Industries Co Ltd to build five new 4,520 TEU container ships. Seaspan has also completed more than $900 million in debt financing with a long-term fixed interest rate of less than 6 percent. The company has signed 12-year time charters for the vessels with Kawasaki Kisen Kaisha Ltd, Japan's third-largest liner operator. The five new vessels are due to be delivered in 2010 and 2011


Wilhelmsen Acquires Drew Marine Technical Solutions

Thomas Wilhelmsen (Photo: Wilhelmsen)

The Wilhelmsen group has signed an agreement to acquire the technical solutions business from Drew Marine.   “This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division,” said Wilhelmsen group CEO, Thomas Wilhelmsen.


LR Signs Two MoUs at Singapore Maritime Week

LR CEO Alastair Marsh with MPA Chief Executive Andrew Tan following signing of R&D and innovation MoU (Photo:  Lloyds Register)

LR CEO, Alastair Marsh, signed two Memorandums of Understanding (MoU) during Singapore Maritime Week. The first promotes research and development (R&D) and innovation, building upon strong existing collaborations (e.g. enhanced understanding of cargo liquefaction to increase vessel


Shipping Nations to Promote Digital Certificates

E-Cert MoU by Danish Norwegian and Singapore Maritime Authorities is step in the right direction to digitalise shipping industry. Photo: Maritime and Port Authority of Singapore

 Danish Maritime Authority (DMA) Director General Andreas Nordseth, signed an agreement with Singapore and Norway on cooperation on digital certificates. The agreement is intended to make more countries migrate from paper certificates to digital certificates.  


Petrobangla, Summit Pact for 2nd LNG Terminal

Pic: RPGCL, Petrobangla Group

 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


Concordia Maritime Charters Two MR Tankers

Concordia Maritime has signed a contract for the chartering of two IMO2/3 class MR tankers. This a joint chartering arrangement with Stena Weco, and Concordia Maritime’s share amounts to 50 percent. The contract is for one year, and the charters run from June and July 2017.


Australian Navy's Electronic Warfare Training

CO HMAS Parramatta, CMDR Simon Howard, CSC, RAN keeps an eye on the situation as the crew of HMAS Parramatta runs through multi-unit warfare simulations conducted out of Systems Training School, HMAS Watson. Photo: Royal Australian Navy

 In a collaborative project with Australian industry, the Royal Australian Navy is extending its use of simulation to electronic warfare training.   A common electronic warfare sensor suite is planned across the future fleet and future electronic warfare sailors need to have the


DNV GL Earns DAkkS Accreditation as EU MRV Verifier

From L to R: Oliver Darley, Vice President, Head of Ship Systems, Materials & Components and Nils Wegener, MRV Manager at DNV GL.  (Photo: DNV GL)

Classification society DNV GL has gained the accreditation from German accreditation body DAkkS to verify compliance with the EU Monitoring, Reporting and Verification (EU MRV) regulation. The regulation, part of the EU's commitment to reduce greenhouse gas emissions


Western Towboat Signs with MobileOps

Image: MobileOps Inc.

MobileOps, Inc., a Redmond, Washington software comapny that specializes in the design and development of maritime software applications (dispatch, safety, compliance, vessel maintenance, timecards, analytics) announced that it has signed a contract with Western Towboat Company of Seattle.


Abu Dhabi Ports, Jaheziya Provide Maritime Courses

Photo: Jaheziya (A Tawazun Subsidiary)

 Abu Dhabi Ports, the master developer, operator and manager of the Emirate's commercial and community ports, as well as Khalifa Industrial Zone, signed a Memorandum of Understanding (MOU) with Jaheziya, the brand name for Tawazun’s Safety, Security and Disaster Management City.


South Africa Minister Delays Signing Energy Deals

South Africa's newly appointed energy minister Mmamoloko Kubayi has postponed the signing of agreements between state-run power utility Eskom and renewable energy Independent Power Producers (IPPs), Business Report newspaper said on Tuesday.


MISC Signs up Entire LNG Fleet for ECDIS Training

Photo: MISC Berhad

MISC Berhad has chosen eMaritime Group's ACAT online courses as its ECDIS type specific continuous personal development training solution. The agreement has enabled MISC to sign up its entire fleet of liquefied natural gas (LNG) carriers while being able to effortlessly monitor all students


Wärtsilä, Shipyards Partner on BWMS Retrofits

Photo: Wärtsilä

The technology group Wärtsilä is in the process of signing agreements with a number of major shipyards, the latest being Keppel Shipyard Ltd (KSL) of Singapore. The agreements are intended to establish cooperation and communication between the parties in relation to the International


NGOs Push for a Mediterranean ECA

Map: Baltic Ports Organization

An alliance of several European environmental organizations, recently adopted a declaration to designate the Mediterranean Sea an Emission Control Area (ECA), aimed at limiting air pollution from ships.    The document, known as the “Rome Declaration”


DSDu Completes Refurbishment of Floating Dock

Photo courtesy of DSDu

Damen Shiprepair Dunkerque (DSDu) has completed major refurbishment works to the yard’s floating dry dock.   The dock, capable of taking vessels up to 180 meters in length and lifting 14,000 tonnes, is owned by the Port of Dunkerque (Grand Port Maritime de Dunkerque – GPMD) and


Multi-million Dollar Deal for Somaliland's Historic Port Sparks Land Rush

The land along the road into Berbera is barren and empty. Somaliland's small, rusty Gulf of Aden port which for centuries made the town prosperous rises suddenly out of the ground as the road hits the coast. The crumbling town has languished for decades






 
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