Marine Link
Tuesday, January 23, 2018

New Builds News

Maersk Supply Service Wins Contract With Quadrant Energy

Photo: Maersk Supply Service

Maersk Master and Maersk Mariner, Maersk Supply Service’s two first Starfish-class anchor handling vessels built in 2017, will be on contract with Quadrant Energy in Western Australia, commencing March 2018. Both vessels will support Quadrant Energy’s Phoenix South and Van Gogh drilling campaign which will initially cover three wells for a duration of 150 to 200 days. The highly modern and efficient vessels will be supporting Transocean’s semi-submersible rig DD1 with supply and anchor handling duties throughout the campaign. “Quadrant Energy is an important customer.

US Dredging Invests in American Workers, Safe Navigation Channels

MAGDALEN (Photo courtesy of  AMP)

The American Maritime Partnership (AMP), the voice of the domestic maritime industry, has highlighted the U.S. dredging industry’s commitment to build and maintain safe, efficient and cost-effective navigation channels in the nation’s inland waterways and ports. The recent deliveries of four state-of-the-art vessels, constructed by nearly 700 American workers in U.S. shipyards, are a reflection of the U.S. dredging industry’s continued investment in building dredges with increased…

Nordic American Tankers Signs TC with Cepsa

Photo: Nordic American Tankers

Nordic American Tankers has announced that it entered into an one-year term charter with the major Spanish oil company Cepsa for a ship. The company says  is the 2004 built Nordic Castor is expected to be delivered on the time charter in late February for a contract of up to 15 months. "She is expected to be delivered on the time charter late February, subject to a satisfactory inspection in next discharge port. The fact that NAT has only one million barrel suezmax ships allows us to achieve economies of scale. The agreed rate secures a good cash flow," said a company statement.

Diana Shipping Acquires Capesize Bulker

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that yesterday it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from an unaffiliated third party the m/v Churchill Bulker, a 2011 built Capesize dry bulk vessel of 179,362 dwt, for a purchase price of $28.5 million. The vessel, to be renamed Seattle, is expected to be delivered to the buyer by mid-November 2015. Excluding the newly acquired vessel, as well as one new-building Capesize dry bulk vessel expected to be delivered to the Company by mid-November 2015, one new-building Newcastlemax dry bulk vessel expected to be delivered to the Company during the second quarter of 2016…

DT&F: Expanding New Yacht Construction Business in U.S.

Following its assessment of activity at this year’s Monaco Yacht Show, Dwight Tracy & Friends Yacht Sales announced expansion of its program for representing new construction shipyards, both in the U.S. and Europe. “The current strength of the euro against the U.S. dollar, and the current situation in our domestic new yacht market, makes this a time of opportunity for European yacht buyers in search of first-quality vessels. The key, however, to a successful buying experience is to have representation that is knowledgeable and experienced.

Shell Announces Plan for Penguins Filed Redevelopment

Photo: Sevan Marine ASA

Shell announced the final investment decision for the Penguins field redevelopment project in the U.K. sector, which includes the construction of a new-build Sevan Marine designed cylindrical floating production, storage and offloading (FPSO) vessel. The Penguins field is in 165 metres of water, approximately 150 miles north east of the Shetland Islands. Discovered in 1974, the field was first developed in 2002 and is a joint venture between Shell (50 percent and operator) and ExxonMobil (50 percent).

New Bulker, Drawdown Loans Actioned by Diana Shipping

Diana Shipping Inc. signs MOU to buy a new-building bulk ship from a third party; subsidiaries negotiate term loan facilities. The new-building Kamsarmax dry bulk carrier, to be named Myrto of 82,131 dwt, was built by Tsuneishi Shipbuilding Co., Ltd., Japan, and the purchase price is US$26.5-million. The vessel is expected to be delivered to Diana Shipping at the end of January 2013. Separately, the Company also announced that it signed, through two separate wholly owned subsidiaries, a term loan facility with Nordea Bank Finland Plc, London Branch, and has completed the drawdown of US$20-million. The purpose of this facility is to partially finance the acquisition costs of the two newly built Post-Panamax dry bulk carriers…

Half-way Mark in BBC Chartering's Newbuild Program

'BBC Citrine': Photo courtesy of BBC Chartering

German owner of multipurpose & heavy lift tonnage, BBC Chartering, announce that half of its 22 unit heavy lift new-building program is now operational. Two vessel series form the basis of this heavy lift fleet new-build program. One is the 14,360dwt ‘BBC Amber’ type of which 14 units are built, featuring 2x 400 mt lifting capacity, and the second is the ‘BBC Everest’ type of which eight units are built with 2x 350 mt lifting gear. The company took delivery of the ‘BBC Citrine’ in August 2012…

Ferries Eligible for Millions in Canadian Funding

Ferry operators across Canada applaud new changes made by the federal government that will allow infrastructure projects related to ferries to be eligible for funding under the New Building Canada Fund, according to the Canadian Ferry Operators Association (CFOA). The original eligibility criteria for the fund, established in 2014, excluded most projects related to ferries, meaning very few operators have been able to apply for infrastructure projects. The CFOA and provincial governments have worked together urging Transport Minister Marc Garneau and Infrastructure Minister Amarjeet Sohi to revise the criteria to include ferries and ferry operators.

China Shipping Charters Diana Panamax

Calipso. Photo by Diana Shipping

Diana Shipping has entered into a time charter contract with Hong Kong - based China Shipping Bulk Carrier, for one of its Panamax dry bulk vessels, the m/v Calipso. The "Calipso" is a 73,691 dwt Panamax dry bulk vessel built in 2005. The gross charter rate is US$6,000 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum fourteen (14) months. Diana Shipping Inc.'s fleet currently consists of 41 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax).

SwissMarine Hires Diana's Capesize Bulker

Courtesy Diana Shipping

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Aliki. The gross charter rate is US$5,300 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months. The charter is expected to commence tomorrow. The “Aliki” is a 180,235 dwt Capesize dry bulk vessel built in 2005.

Diana Shipping Announces Time Charter Contract for Protefs with Transgrain

M/v Protefs. Photo: Diana Shipping Inc

Diana Shipping has  chartered the 73,630 dwt, 2004-built panamax, Protefs to Transgrain shipping for 12 – 16 months at a rate of $4,500 per day minus 5% commission. This employment is anticipated to generate approximately US$1.55 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax). Diana Shipping also expects to take delivery of three Panamax dry bulk vessels by the end of March 2016…

Wärtsilä Opens New Office in Denmark

Wärtsilä celebrates the inauguration of new office and workshop premises in Hirtshals, Denmark. Over the past year Wärtsilä has invested almost $2.6m in the new building. The office in Hirtshals offers a complete range of services for power plant and ship power sales.The new building has 1200 m2 of office space and a further 400 m2 reserved for the workshop and warehouse. Wärtsilä also has offices in Arden and in Copenhagen in Denmark.

Diana Shipping Signs US$75.7 mln Term Loan Facility

Courtesy Diana Shipping

Diana Shipping Inc. announced that yesterday it signed, through three separate wholly-owned subsidiaries, a term loan facility for up to US$75,734,900 with The Export-Import Bank of China. The purpose of this facility is to partially finance, after delivery, the acquisition cost of two new-building Newcastlemax dry bulk vessels of approximately 208,500 dwt each and one new-building Kamsarmax dry bulk vessel of approximately 82,000 dwt. The signing of the relevant shipbuilding contracts was announced by the Company on May 21, 2013 and January 8, 2014, respectively.

Yanmar Rolls Out New Marine Power Offerings

3JH40 inboard engine (Photo: Yanmar)

Yanmar has already introduced several new products for the marine market in 2018, including a new common rail inboard marine diesel engine touted as the world's smallest, higher horsepower offerings in its mid range series, and expanded joystick controls. Yanmar Marine International has launched the latest addition to its family of new generation common rail (CR) diesel engines, the compact Yanmar 3JH40 inboard engine, at boot Düsseldorf. The three-cylinder 3JH40 has been developed as the marine industry’s smallest CR inboard diesel engine, Yanmar said.

Diana Shipping Signs Loan Facility with Danish Ship Finance

Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has completed a drawdown of US$30 million, through a separate wholly-owned subsidiary, under a term loan facility it signed with Danish Ship Finance A/S. The proceeds will be used to partially finance the acquisition cost of a Capesize dry bulk vessel, the m/v Santa Barbara, which was delivered to the Company on January 12, 2015. Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel during the second quarter of 2015…

Navios Maritime Acquires Newbuilds

Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, announced the delivery of a new build Capesize vessel and the agreement to acquire another new build Capesize vessel. The Navios Antares, a 169,059 dwt Capesize vessel, was delivered to Navios Holdings' owned fleet on January 20, 2010 from a South Korean Shipyard. Navios Holdings agreed to acquire a new build Capesize vessel of 180,000 dwt, under construction with a South Korean Shipyard. The vessel is scheduled for delivery in the second quarter of 2011 and is secured by a 12-year charter to a quality counter party for $27,431 (net) daily rate. It is anticipated that this charter will generate annual EBITDA of $8.1m and cumulative EBITDA of $92.6m.

GE Shipping Orders New Tankers

Great Eastern Shipping Company (GE Shipping) has ordered two new building Long Range One (LR1) product tankers from STX Shipbuilding Company, Korea. The vessels, of around 74,500 dwt each, are due for delivery during Q3 FY 2008-09. With this order, the company`s new building orderbook stands at 9 tankers (4 LR1 product tankers and 5 MR product tankers) with an aggregate dwt of 0.52 Mn and 5 OSVs (4 AHTSVs and 1 PSV). Source: IRIS

Tidewater To Build 12 New Vessels For $305M

Tidewater Inc. has signed contracts with two Far East shipyards for the construction of eight vessels as part of Tidewater's new build program announced in January 2000. It has also announced that its subsidiary, Quality Shipyard L.L.C., will build a total of four vessels. The $305 million in new build commitments falls on the heels of Tidewater's recent purchase of eight similar vessels from The Sanko Steamship Co., Ltd. The eight vessels to be built outside the United States will be comprised of five large 280-ft. anchor handling towing supply vessels with greater than 20,000 hp and three 260-ft. platform supply vessels. The four vessels being built at Quality Shipyard will be similar platform supply vessels and will be built to full Jones Act compliance.

Frontline Exercises Options for Tankers from China's Jiangsu Group

Frontline Ltd said it has exercised options for an additional two Suezmax tankers, to be built by the Jiangsu Rongsheng Heavy Industries Group in China. These orders, Frontline said, relate to options secured last summer as part of a separate vessel order. The latest tankers, 156,000 deadweight tonne Suezmax newbuilds, will be delivered in April and June 2010, the firm said. Following this deal, Frontline will have six Suezmax tankers and four VLCC newbuilds on order. Source: AFX

ABS Expands in Europe with Three New Contracts

ABS Nautical Systems signed three new contracts for use of its NS5 Enterprise software with Central Mare Inc., Consolidated Marine Management Inc. and C. Transport Maritime S.A.M. Athens-based, Central Mare Inc. plans to utilize the Energy & Environmental Manager, Maintenance Manager and Hull Inspection modules on two of its ABS-classed newbuilds. Consolidated Marine Management Inc., based in Piraeus, will implement the Energy & Environmental Manager and Hull Inspection modules on four of its ABS-classed newbuilds, as well as an additional vessel that transferred its class to ABS. C Transport Maritime S.A.M., based in Monte Carlo, Monaco, will implement the Energy & Environmental Manager and Hull Inspection modules on seven of its ABS-classed newbuilds.

Diana Takes a Hit on Charter Extension

mv Leto Photo Marcelo Lopes

Diana Shipping Inc. specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto, for a period of about fifteen (15) months to about eigtheen (18) months. The gross charter rate is US$7,100 per day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on June 19, 2015. The “Leto” is a 81,297 dwt Panamax dry bulk vessel built in 2010.

Diana Finds Work for Panamax Duo

Diana's Panamax

Diana Shipping Inc., today informed that through a separate wholly-owned subsidiary, it entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$6,800 per day minus a 4.75% commission paid to third parties, for a period of minimum ten (10) months to maximum thirteen (13) months. The charter commenced yesterday. The “Naias” is a 73,546 dwt Panamax dry bulk vessel built in 2006.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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