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Saturday, January 20, 2018

New Time News

Concordia Maritime Signs Contracts with Lukoil

Concordia Maritime has signed two-year timecharter contracts for the V-MAX vessels Stena Vision and Stena Victory with Litasco, a subsidiary of the Russian oil company Lukoil. The new time charters will begin immediately upon expiration of the current charter contracts with the American oil company Sunoco at the end of 2007. The vessels are chartered in from Arlington Tankers Ltd until the end of 2009. With the new time charter contracts Concordia Maritime has secured employment for the entire period.

TOP Tankers Announces New Time-Charter Contract

TOP Tankers Inc it has entered into a time-charter contract with a major South American oil company for the M/T Flawless, a 154,970 DWT double-hull Suezmax tanker, built in 1991 by Hyundai Heavy Industries Co. Ltd of the Republic of Korea. The vessel is expected to commence the new time-charter in mid-June 2007 for a period of one year at a rate of $44,500 per day. The charterers have the option to extend the contract for a period of one year at the conclusion of the charter.

Dryships Announces Fixed Period Charter for Four Vessels

charter for a period of between six and eight months at a daily rate of $40,000. time charter commenced on March 31, 2007. charter for a period of between 9 and 11 months at a daily rate of $73,000. charter commenced on April 13, 2007. charter for a period of between 6 and 8 months at a daily rate of $32,300. charter is expected to commence no later than April 20, 2007. charter for a period of between 9 and 11 months at a daily rate of $36,750. charter is expected to commenced on April 13, 2007.

Star Bulk New Time Charters, Vessel Mngmt

Star Bulk Carriers Corp. (NasdaqGM: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes announced that the company entered into a new one-year time charter agreement for the Star Theta, a 52,425 dwt 2003-built Supramax vessel, at a gross daily rate of $11,300. On May 18, 2009 the vessel was delivered to its new charterer, Cargill. The company also entered into a new time charter agreement with the existing charterer for the Star Kappa, a 52,055 dwt 2001-built Supramax vessel, for a minimum of 63 months and a maximum of 65 months at a gross daily charterhire rate of $25,500. The new time charter agreement is effective as of April 7, 2009 and replaces the existing charter.

Time Charters for Two Global Ship Lease Containerships

Global Ship Lease, Inc. signs new time charters with CMA CGM for two 4,113 TEU containerships. $9,962 per vessel per day, commencing upon expiration of the current time charters on September 20 and 21, 2012, respectively. The time charters for the Ville d'Aquarius and the Ville d'Orion were executed under an agreement entered into with CMA CGM, providing Global Ship Lease with the option to obligate CMA CGM to charter the vessels at an index-linked rate, with a floor of $8,500 per day. Ian Webber, Chief Executive Officer of Global Ship Lease, said, "We are pleased to have signed new time charters for these two ships with CMA CGM. These…

Knightsbridge Announces Time Charter

Knightsbridge Tankers Limited entered into new time charter agreements for its two very large crude carriers, TI Ningbo and TI Qingdao. The two VLCCs, which are currently time chartered to Tankers International LLC, will commence their new time charter employment directly after the current charters expire in the first half of 2007. The TI Ningbo has been chartered for a period of four years and the TI Qingdao for a period of five years. The charter income for each VLCC will consist of a fixed base rate of $37,750 per day plus a market related element being 50 percent of the difference between a spot market related rate index and the base rate. (The VLCCs current charters are at a base rate of $30,000). The new charterer is Frontline Ltd.

Eagle Bulk Shipping Secures Long-Term Charters

Eagle Bulk Shipping Inc., a global marine transportation company specializing in the Supramax segment of the dry bulk shipping industry, today announced that it has secured long-term time charter contracts for three of its vessels. Upon completion of its current charter of $18,550 per day, the Jaeger, a 52,000 dwt Supramax will commence a new time charter with a rate of $27,500 per day for 12-14 months. The charter rate may reset at the beginning of each month based on the average time charter rate for the Baltic Supramax Index, but in no case less than $22,500 per day. The charter on the Harrier, a 50,000 dwt Supramax has been extended from its current charter rate of $23,750 per day for 24 to 27 months at a rate of $24,000 per day.

Seanergy Enters Time Charter Agreement

Seanergy Maritime Holdings Corp.  has entered into a new time charter agreement for one of its Supramax vessels. The M/V Davakis G., a 54,051 Supramax dry bulk carrier built in 2008, has entered into a time charter agreement for a period of about twelve to about eighteen months at a gross charter rate of $14,500 per day with a first class charterer. The charter will commence following the completion of the M/V Davakis G.’s current voyage. As a result of this new time charter agreement, the company has now secured 93% of its ownership days for 2011, 64% for 2012 and 24% for 2013, based on the latest redelivery date of the charter party agreements.

Stealthgas Acquires LPG Newbuildings

Stealthgas has entered into an agreement to acquire two contracts for LPG carriers under construction, the M/V Gas Flawless and the M/V Gas Haralambos, for a total consideration of $46m. The Gas Flawless, a 6,300 cbm Fully Pressurized (F.P.) LPG carrier hull number 595, is expected to be delivered to STEALTHGAS ex yard Higaki Zosen, Japan in early February 2007. The Gas Haralambos, a 7,000 cbm Fully Pressurized (F.P.) LPG carrier hull number K408, is expected to be delivered to STEALTHGAS ex yard Kanrei Zosen, Japan in October 2007. STEALTHGAS INC. announced that it has entered into new time charter arrangements for the "Gas Tiny" and the "Gas Oracle", has extended the existing time charter for the "Gas Czar" and has extended the existing bare boat charter for the "Birgit Kosan".

TEN Announces New Time Charters

Tsakos Energy Navigation Limited (TEN) announced new time-charter contracts for two of its product carriers, the Libra and the Crux. The Libra has a two-year contract, with a further one-year option, starting immediately at a rate of $13,450 with a major North American oil concern. The Crux has a sixteen-month time charter starting in April 2003 at $13,000 with another major international charterer. "With these contracts, TEN is continuing its established practice of maintaining a balanced fleet employment profile with spot voyages and medium to long-term accretive charters," said Nikolas P. Tsakos, President and CEO. He added, "The attractive rates that we have secured for these vessels are indicative of the continued strong market that we have been observing over the last several months.

Safe Bulkers Time Charter for a Capesize Vessel

Safe Bulkers, Inc. (NYSE: SB) announced that it has entered into a new period time charter for the Kanaris, a 177,000 dwt Capesize class vessel, for a minimum duration of 12 months and a maximum duration of 14 months, at a gross daily charter rate of $31,000 less 5% total commissions. The new time charter will commence upon completion of the current charter, scheduled to occur in September 2010. Upon expiration of the completion of this new charter, the vessel will commence a 20-year time charter under a contract the Company entered in 2008.

Seaarland Sets up in Singapore

Seaarland Shipping Management has set up a commercial office in Singapore and made a strategic move into both the large dry bulk and suezmax tanker sectors. The new Singapore company, Seaarland Management Services Singapore, will manage the commercial business for four 115,000 dwt mini-cape bulkers ordered by Seaarland last week from China's New Times Shipyard, and spearhead expansion for the group into Asia. At the same time Seaarland has taken a suezmax tanker on a five year time charter as a preliminary to extending its existing aframax and product tanker fleet into the suezmax market.

Bush to speak at Coast Guard graduation Ceremony

President Bush will give three commencement addresses this year, including a speech on May 23 at the U.S. Coast Guard Academy in New London, reported the New Times Live. The White House announced that Bush also will speak on April 28 on the Kendall Campus of Miami Dade College in Miami, Fla. And on May 11, the president will speak at St. Vincent College in Latrobe, Pa. The president of the college, Jim Towey, is the former director of Bush’s Office of Faith-Based and Community Initiatives. Source; News times Live

Knightsbridge Tankers Shares Rise

Knightsbridge Tankers Ltd. shares are rising along with the broader market after an analyst said a new time charter will allow the company to weather a tough tanker market this year.  Analysts said the time charter the company signed should support the company through declining tanker rates this year and next. The five-year contract is for a new vessel to be delivered in 2009. Source:  AP

TEN Announces New Time Charter for the Aframax Olympia

Tsakos Energy Navigation Limited (TEN) announced a new time-charter contract for the Aframax Olympia with a major European charterer. The two-year contract begins in November 2003 upon the expiration of Olympia's current contract. The rate obtained for the new time charter will positively impact earnings. "TEN remains committed to securing attractive, long-term charters that will provide a steady and predictable flow of earnings and strengthen its balance sheet," stated Nikolas P. Tsakos, President and CEO of TEN. Tsakos continued, "The rate that we have secured for this vessel is a testament to the reputation of TEN as a high-quality, customer focused provider.

TOP Tankers Announces New Charter Contract

TOP Tankers Inc has entered into a time-charter contract for the M/T Stormless, a 150,038 DWT double-hull Suezmax tanker, built in 1993 by Mitsui Engineering & Shipbuilding Co. Ltd of Japan. The vessel is expected to commence the new time-charter by the end of December for a period of three years, at a rate of $36,900 per day.

Norwegian Car Carrier Charter Fixed

NOCC Caspian: Photo credit Norwegian Car Carriers

Norwegian Car Carriers ASA announce a new time charter contract for their 'NOCC Caspian'. The company's 100% owned car carrier NOCC Caspian's charter is for a duration of about 12 months with commencement in early December 2012. The concluded time charter rate is higher than the rate on the current charter and will generate an EBITDA of about NOK 13.5 million during the twelve months charter period. Norwegian Car Carriers ASA has a fleet of 13 vessels for the transportation of cars and other rolling cargoes.  

Stealthgas Announces Charter Renewals

Stealthgas has entered into new time charter agreements for M/V Gas Sophie, M/V Gas Czar and M/V Gas Nemesis. The company has entered into a new bareboat charter for M/V Gas Ice and extended time charters for M/V Gas Renovatio, M/V Gas Zael, M/V Gas Sincerity, M/V Gas Shanghai, M/V Gas Kalogeros, M/V Gas Legacy, M/V Gas Icon and the M/V Gas Spirit. The M/V Gas Sophie, upon its scheduled delivery in October 2007 will be deployed on a time charter for 12 months to an international gas trader. The vessel is a 1995 built 3,500 cbm, Fully Pressurized LPG carrier that the Company agreed to acquire in early April 2007. The M/V Gas Czar and M/V Gas Nemesis have entered into new time charters both for 12 months beginning in December 2007 and May 2008, respectively, to an international gas trader.

New Time for Coast Guard Cutters' Change of Homeport Ceremony

The change-of-homeport ceremony for two Coast Guard cutters moving to Kittery, Maine, has been rescheduled for 11 a.m. Sept. 27, at the Portsmouth Naval Shipyard. The time of the ceremony was originally slated for 10 a.m. The Coast Guard cutters Tahoma and Campbell will be joining the Coast Guard Cutter Reliance already homeported in Kittery.

Aries Maritime Provides Update on its Fleet Deployment

deployment. repairs and upgrades, as previously announced. in the spot market, while period charter opportunities are explored. cost of repairs is expected to total approximately $1.4m. of the vessel from its previous charterer. $17,297.50 per day. for a period of six months at the same rate. previous charterer. has also exercised an option to extend the charter from Europe to the U.S. East Coast. hire. exceeding the maximum off-hire time allowed under the contract. Aries also announced the appointment of Tapas Mukhopadhyay as Aries Fleet Manager, effective November 1, 2006. of Technical Management for Essar Shipping Ltd. of India. Aries' fleet.

Capital Product Partners Announces New Charters

International diversified shipping company Capital Product Partners L.P. announced that it has secured time charter employment for the M/T Aias and M/T Arionas. The M/T Aias (150,393 dwt, Crude Oil Carrier, built 2008, Universal Shipyard, Japan) will be employed with Repsol Trading S.A. (Repsol) for three years (+/- 30 days) at a gross daily rate of $26,500. Previously the vessel was employed under a time charter to Capital Maritime & Trading Corp. (CMTC) at a gross rate of $24,000 per day. The new charter will commence in February 2015 and marks the opening of a new time charter relationship for the Partnership with Repsol. The M/T Arionas (36…

Wärtsilä Receives Order for 50 Propellers in China

At the beginning of September the joint-venture company Wärtsilä CME Zhenjiang Propeller Co. Ltd. in China received an order for 50 fixed pitch propellers (FPP) to be delivered to two shipyards, New Century Shipyard and New Times Shipbuilding Co. Ltd., in Jiangsu Province, China. The order is worth $21.5m .The propellers will be manufactured at the Wärtsilä CME propeller factory in Zhenjiang, Jiangsu Province, China. With weights ranging from 28 - 73 tons, the propellers are designated for the propulsion of a large series of vessels including 46 tankers and 4 container vessels, all being built at New Century Shipyard and New Times Shipbuilding for various customers. The vessels will be delivered between 2007 and 2009.

Knightsbridge Tankers Extends Time Charter

Knightsbridge Tankers Limited entered into a new time charter agreement for the VLCC MT Mayfair. The ship is currently trading in the spot market, and will commence the new time charter employment directly after the current voyage in end of March 2007. The Mayfair has been chartered to a Far East based operator for a period of three years at a rate of $45,000 per day. The Board of Knightsbridge Tankers believes that the new charter will serve the Company well as it continues to secure income into the next decade at levels considerably in excess of the companies required return of capital. In addition to this VLCC, Knightsbridge Tankers owns one VLCC which is time chartered out at a fixed rate of $30,000 until 2009.

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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