Klaveness Combination Carriers to List in Oslo
Norway's Klaveness Combination Carriers (KCC) has raised 350 million Norwegian crowns in a private share placement, valuing the shipping firm at 2.27 billion crowns ($259.57 million) ahead of an Oslo stock market listing on May 22.Following the successful private placement, KCC has declared two options for the construction of the seventh and eight CLEANBU combination carrier with Jiangsu New Yangzi Shipbuilding Co., Ltd in China.The two newbuilds are scheduled for delivery in January and February 2021. Following the declaration, the KCC fleet will grow to 17 vessels within 1st quarter of 2021.
NAO Completes Vessel Acquisition
Bermuda-headquartered platform supply vessels (PSVs) operator Nordic American Offshore (NAO) announced that it has completed the previously announced acquisition of thirteen vessels from Scorpio Offshore Holdings Inc.Emanuele A. Lauro, Chairman and Chief Executive Officer, commented “With the completion of this acquisition and the first drawdown under our Equity Line, NAO has achieved critical short-term milestones of reducing our financial leverage and increasing our liquidity.
NAO Acquires 13 Vessels
Bermuda-based company Nordic American Offshore (NAO) announced that it has reached agreement with the lenders under the Company's $150 million Revolving Credit Facility, dated March 16, 2015 pursuant to which the lenders have agreed, upon satisfaction of certain conditions precedent by the Company, to the extension of waivers up until January 31, 2020.The owner and operator of platform supply vessels (PSVs) said in a press release that it has also announced that the lenders have committed…
Crew Vessel Contracted to Shell
UK-based crew transfer specialist High Speed Transfers (HST) announced that its second new high-speed crew transfer vessel HST Sofia will be contracted by Shell to support its exploration program in the Black Sea commencing March 2019.The FCS 2710 vessel, built by Dutch shipbuilder Damen, will be trialed by HST to undertake oil and gas crew transfers to support the Noble Globetrotter II drill ship. The vessel will shortly begin an exploration drilling program in the Khan Kubrat block…
Clarksons Acquires Safe Harbour Tanker Chartering
Provider of integrated shipping services Clarksons Platou announced that it is planning to acquire Safe Harbour Tanker Chartering, a Connecticut-based shipbrokerage and marine consultancy firm.Safe Harbour Tanker Chartering has been in operation since 1989, and is based in Monroe, Connecticut. They are a well‐established ship broker, with a primary focus on the edible oils sector specialising in veg oil exports from the United States and South America to the wider Americas and European markets.They also have a presence within the biodiesel sector…
SEACOR Marine to Acquire Brazil's UP Offshore
SEACOR Marine Holdings, the provider of marine and support transportation services to offshore oil, has announced the acquisition of UP Offshore (Bahamas) by a new joint venture company that is 49% owned by a subsidiary of SEACOR Marine and 51% owned by a subsidiary of Proyectos Globales de Energía y Servicios CME.UP Offshore is a leading provider of offshore support vessel services to the energy industry in Brazil, the largest regional market in Latin America, said a press release.Of UP Offshore’s 14 vessel fleet, 12 vessels are located in Brazil and registered under the Brazilian flag.
BMT CEO Sarah Kenny is Maritime UK Vice Chair
Maritime UK has confirmed the appointment of Sarah Kenny as Vice Chair. Kenny is CEO at BMT Global.Maritime UK is the sector’s umbrella body, bringing together the shipping, ports, services, engineering and leisure marine industries to drive growth by promoting the sector, influencing government and fostering collaboration. The sector supports just under 1 million jobs and contributes around GBP40bn to GDP.Kenny will start her two-year terms on 1 December. Current Chair, David Dingle has served since 2015.Dingle…
Cautious Consolidation for OSV Companies Brings Market Change
Will a rising tide in the offshore oil markets float all the boats? In the U.S. Gulf of Mexico, that remains to be seen.Offshore services, exploration and production are on a roll. In early October, yet another business combination of big drillers was announced. In a sign of optimism, Ensco announced its plan for an all-stock acquisition of Rowan Offshore, worth around $2.4 billion. The new company will be domiciled in the United Kingdom, but will have a large presence in Houston.
Baltic Index Slips as Capesize, Panamax Demand Wanes
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, dipped 2 percent on Thursday, weighed down by weaker demand for capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 30 points, or 2 percent, to 1,516 points.The capesize index snapped five straight sessions of gains and fell 35 points, or 1.5 percent, to 2,353 points. Average daily earnings for capesizes…
Strong Capesize Demand Lifts Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the fourth consecutive session on Tuesday, propelled by higher demand for capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 54 points, or 3.8 percent, at 1,476 points. The capesize index gained 174 points, or 7.6 percent, at 2,478 points, last touched on May 14. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $1,424 to $20,515.
GoodBulk Launches USD 140 Million IPO
GoodBulk, incorporated in Bermuda and headquartered in Monaco, announced that it has launched its initial public offering of 8,500,000 common shares at an anticipated initial offering price between $15.50 to $17.50 per common share. In connection with the Offering, the Company intends to grant the underwriters the option to purchase up to 1,275,000 additional common shares. The Company intends to use the net proceeds of the Offering, together with cash on hand and additional borrowings under the Company’s credit facilities…
Navios Maritime Containers files for a $100 million IPO
Monaco-based container ship company Navios Maritime Containers has filed with the SEC to raise up to $100 million in an initial public offering. The information of IPO was originally provided by the IPO investment manager Renaissance Capital. The Navios Holdings company run by Angeliki Frangou was founded in 2017 and booked $69 million in sales for the 12 months ended March 31, 2018. According to the company website: "We are a growth-oriented international owner and operator of containerships.
GoodBulk Files for a $100 Mln IPO
GoodBulk, an owner and operator of dry bulk vessels, announced that it has filed a registration statement on Form F-1 with the United States Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its common shares.Morgan Stanley and Credit Suisse are acting as lead book-runners, Clarksons Platou Securities, Evercore ISI, Pareto Securities and UBS Investment Bank are also acting as book-runners, and ABN AMRO is acting as co-manager for…
Frontline Expects Greater Oil Tanker Demand
Increased scrapping of older oil tankers and the potential for higher output of OPEC crude are likely to boost vessel demand and thus rates, Oslo-listed shipper Frontline said on Thursday.The company reported a first-quarter operating profit of $2.8 million, while analysts in a Reuters poll on average had expected a loss of $13.3 million.Tanker rates are still low, however, and 78 percent of Frontline's very large crude carriers (VLCCs) are covered at a daily $11,600 for the second quarter compared with $14…
Baltic Index Falls to Six-Week Low
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday to a six-week low as rates across vessel segments fell.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 20 points, or 1.9 percent, at 1,057 points, its lowest since April 17.* The capesize index lost 71 points, or 5.1 percent, to 1,324 points.
Muted Capesize Activity Weighs on Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth straight session on Tuesday, dragged down by lower demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 40 points, or 3.2 percent, at 1,199 points.The capesize index lost 103 points, or 5.3 percent, at 1,854 points."Capesize average earnings declined to about $13,900 per day due to reduced inquiries on Brazil or China voyages while most of Europe began the week with a religious holiday," analysts
Baltic Index Down for Fifth Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fifth-straight session on Monday as capesize vessel rates remained weak.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 34 points, or 2.7 percent, at 1,239 points.The capesize index lost 96 points, or 4.7 percent, at 1,957 points."Capesize rates have continued to soften over the last week to about $14,800 per day, partially reflecting an increase in the number of vessels ballasting to Brazil," analysts at ship broker Clarkson
Star Bulk Carriers Acquires Songa Bulk Fleet
Greece-based dry bulk shipping firm Star Bulk Carriers has entered into definitive agreements to acquire 18 dry bulk vessels in two all-share transactions. 15 of the vessels will be acquired from Songa Bulk and three of the vessels will be acquired from Oceanbulk Container Carriers. The consideration for the vessels was determined based on average vessel valuations by independent vessel appraisers. The Company has agreed to issue an aggregate of 13.725 million common and pay $145 million in cash for the acquisition of all of Songa’s 15 modern dry bulk vessels .
Dry Bulk: Baltic Index Touches over 4.5 Month High
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday to its highest in over 4-1/2 months, boosted by rising rates for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 33 points, or 2.3 percent, at 1,465 points.The capesize index rose 134 points, or 5.4 percent, to 2,616 points, its highest in four months."Capesize rates continued to demonstrate positive momentum, with average earnings improving," analysts at ship broker Clarksons Platou Securities said.Averag
Baltic Index Near 15-week High
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday to near 15-week highs, boosted by rising rates for capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 25 points, or about 2 percent, at 1,306 points, its highest since Jan. 10. The capesize index gained 94 points, or 4.9 percent and hit 2,009 points, its highest in 14 weeks. Capesize earnings continued…
Baltic Index Falls on Broad Retreat
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth consecutive session on Tuesday, hurt by weaker rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 14 points, or 1 percent, at 1,327 points. The capesize index lost 37 points, or 1.7 percent, to end at 2,136 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $286 to $16,890.
First Damen Fast Crew Supplier with Ampelmann Gangway
The partnership between Damen Shipyards Group and Ampelmann to extend the benefits of motion-compensated gangway systems to fast crew supply vessels has reached a major landmark. At the end of March, the first Damen fast crew supply (FCS) vessel to be fitted with an Ampelmann L-type system began operations in the Gulf of Guinea. This marks a significant step forward in the move towards bringing the latest advances in safe and flexible marine access to a wider array of oil and gas operations.
Baltic Index Rises
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on firmer capesize demand, even as rates across other vessel segments remained unchanged.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels snapped four straight sessions of losses and was up 19 points, or 1.4 percent, at 1,346 points.* The capesize index rose 61 points, or 2.856 percent, to 2,197 points.* Average daily earnings for capesizes…