Marine Link
Monday, July 16, 2018

Owned Subsidiary News

Diana Shipping Continues TC for m/v Polymnia With Cargill

Polymnia. Photo: Diana Shipping Inc.

Diana Shipping 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 Post-Panamax dry bulk vessels, the m/v Polymnia. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$16,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum 14 months to maximum 17 months. The new charter period is expected to commence on July 8, 2018.

Diana Shipping Bags TC for m/v San Francisco with Koch

Photo: Diana Shipping Inc.

Diana Shipping  has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v San Francisco. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$24,000 per day, minus a 5% commission paid to third parties, for a period of approximately 10 months to approximately 12 months (approximately means +/-10 days). The charter is expected to commence on May 13, 2018.

LNG is the Bridge to ‘Zero Emissions’ Shipping

(Photo: Skangas)

The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now little more than one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America…

Diana Containerships Sells m/v Puelo

Puelo. Photo: Diana Containerships Inc.

Diana Containerships has announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2006-built vessel “Puelo”, with delivery to the buyer by latest June 30, 2018, for a sale price of US$20.5 million before commissions. Theglobal shipping company specializing in the ownership of containerships said that it expects to use the whole or part of the net proceeds from the sale of the vessel to prepay existing indebtedness based on the outstanding amount of such indebtedness upon completion of the transaction.

Diana Containerships Continues TC for M/V Domingo With CMA CGM

Photo: Diana Containerships Inc

Diana Containerships  announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with CMA CGM, Marseille, for one of its Panamax container vessels, the m/v Domingo. The global shipping company specializing in the ownership of containerships said that the gross charter rate is US$12,800 per day, minus a 3.5% commission paid to third parties, for a period of minimum eight months to maximum eleven months. The new charter period will commence on August 3, 2018.

Diana Shipping Signs TC Contract for m/v Maera with ST Shipping

Maera. Photo: Diana Shipping Inc.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ST Shipping and Transport, Singapore, for one of its Panamax dry bulk vessels, the m/v Maera. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$11,750 per day, minus a 5% commission paid to third parties, for a period of about seven months to maximum nine  months. The charter commenced on July 4, 2018. The “Maera” is a 75,403 dwt Panamax dry bulk vessel built in 2013.

Diana Containerships to Sell Post-Panamax Vessel

Ship owner Diana Containerships Inc. announced it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2009-built vessel Hamburg, with delivery to the buyer latest by July 31, 2018, for a sale price of $21 million before commissions.Net proceeds from the sale of the vessel are expected to be used by the company to prepay part of the existing indebtedness.Upon completion of the sale, Diana Containerships Inc.’s fleet will consist of five container vessels, including three Post-Panamax and two Panamax ships.

Thoresen Thai Agencies Sells Bulk Carrier

Thor Enterprise. © Juergen Braker,  Marinetraffic.com

Thoresen Thai Agencies Public Company reported the sale of M.V. Thor Enterprise, a general cargo vessel with a rated capacity of 42,529 deadweight ton (DWT) built in 1995. The Vessel was sold to a company which is not a connected person of the Company by Thoresen Shipping Singapore, a wholly owned subsidiary of the Company. Sources, quoting data provided by VesselsValue said that although Thoresen has not identified the buyer of the vessel, Thor Enterprise, renamed Asian Enterprise, was sold to India’s Hermes Maritime last month.

SeaBird Exploration Acquires Geowave Voyager

CGG Seismic Fleet. Photo: CGG

SeaBird Exploration announced it is in an exclusive process to acquire the seismic vessel Geowave Voyager and certain seismic equipment from Exploration Vessel Resources II AS, a wholly owned subsidiary of CGG S.A., for a cash consideration of $17 million.SeaBird intends to carry out a private placement of new shares in the company raising gross proceeds of minimum NOK 80 million and maximum of NOK 120 million. The subscription price  in the Private Placement will be determined through an accelerated book-building process.

Keppel to Build South East Asia’s First LNG Bunkering Vessel

Photo: Keppel Corporation

Keppel Offshore & Marine Ltd (Keppel O&M) through its wholly-owned subsidiary, Keppel Singmarine Pte Ltd, has secured a contract from FueLNG, a joint venture between Keppel O&M and Shell Eastern Petroleum (Pte) Ltd, to build South East Asia's first Liquefied Natural Gas (LNG) bunkering vessel valued at approximately S$50 million. Scheduled for completion in 3Q 2020, the dual-fuel LNG bunkering vessel will have a capacity of 7,500 cubic metres. FueLNG will receive a grant of up to S$3 million as part of the Maritime and Port Authority of Singapore's (MPA) LNG Bunkering Pilot Programme (LBPP).

Noble Group Sells Kamsarmax Dry Bulker to Aeolian Spirit Shipping

Image: Noble Group

The commodity trader Noble Group has entered into an agreement with Aeolian Spirit Shipping, a Cyprus company, to dispose a vessel registered in Hong Kong for a consideration of US$23.79 million. Noble said in a press annoucement that its indirect wholly-owned subsidiary, Core Forte, had on June 15 entered into a memorandum of agreement with Aeolian Spirit Shipping and Transmed Shipping for the proposed sale of a Kamsarmax dry bulk carrier vessel. The Vessel “Ocean Forte" is registered under the flag of Hong Kong. It was built in 2015 and has a capacity of 81,616 dwt.

Koch Shipping Signs Charter Deal for Diana's Bulker m/v Philadelphia

m/v Philadelphia. Photo: Diana Shipping Inc.

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The global shipping company specializing in the ownership of dry bulk vessels said that the  gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period of about 20 months to maximum 23 months. The charter commenced on June 18, 2018.

Diana Shipping TC Contract for P. S. Palios with Koch

P. S. Palios. Photo: Diana Shipping Inc.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping, Singapore, for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$17,350 per day, minus a 5% commission paid to third parties, for a period of about 13 months to maximum 15 months. The charter is expected to commence on May 24, 2018. The m/v P. S. Palios is currently chartered, as previously announced, at a gross charter rate of US$10,550 per day, minus a 5% commission paid to third parties. The “P.

SAFEEN, ADNOC Pact for Oil Spill Emergency Response

Photo: Abu Dhabi Ports.

Abu Dhabi Ports announced  the signing of a Memorandum of Understanding (MOU) between its subsidiary, SAFEEN, a provider of world-class integrated marine and port services for Abu Dhabi Ports, and ADNOC Logistics & Services, in the area of oil spill containment, cleaning, and maintenance. Under the terms of the agreement, ADNOC Logistics & Services will support SAFEEN in handling tier two oil spill incidents through containment, cleaning and maintenance activities. Tier two oil spills cover a greater area of water and involve more quantities of oil than tier one oil spills…

Euronav Sells Suezmax Cap Jean

Photo: Euronav

Tanker company Euronav NV announced that it has sold the Suezmax Cap Jean (1998 – 146,643 dwt) for USD 10.6 million. The vessel was delivered to her new owners on June 8th. The Company will record a capital gain of approximately USD 10.6 million in the current quarter. The sale of the Cap Jean is part of a fleet rejuvenation program. Together with the sale Euronav is taking in operation four new Suezmax vessels, of which two have already been delivered, with the remaining two due for delivery from the Hyundai yard in South Korea (HHI) during summer 2018.

Wärtsilä Intermodal Pact with VR Group

Image caption: VR uses Dv12 diesel locomotives, among others. Wärtsilä will take responsibility of their reconditioning. (Image © VR Group)

The technology group Wärtsilä and VR Group, a national railway operator owned by the Finnish State, deepen their partnership as Wärtsilä begins to recondition the engines of diesel locomotives. The agreement significantly extends the previous relationship between the companies. For VR Group, the agreement ensures professional and flexible maintenance and reconditioning services of its diesel locomotives. Under this agreement, Wärtsilä will be in charge of reconditioning and test running of over 200 diesel engines on 191 locomotives of three different types.

Diana Containerships Continues TC for m/v Pucon With OOCL

Pucon. Photo: Diana Containerships Inc.

Diana Containerships announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Orient Overseas Container Line Ltd., Hong Kong, for one of its Post-Panamax container vessels, the m/v Pucon. The gross charter rate is US$18,000 per day, minus a 3.75% commission paid to third parties, for a period of minimum eight months to maximum twelve months. The new charter period will commence on June 22, 2018. The m/v Pucon is currently chartered…

Diana Containerships TC for m/v Rotterdam with Wan Hai Lines

Rotterdam. Photo: Diana Containerships Inc.

Diana Containerships announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Wan Hai Lines (Singapore) Pte Ltd. for one of its Post-Panamax container vessels, the m/v Rotterdam. The global shipping company specializing in the ownership of containerships said in a press release that the gross charter rate is US$18,200 per day, minus a 3.75% commission paid to third parties, for a period of up to minimum April 15, 2019 to maximum July 15, 2019. The charter will commence on July 13, 2018.

Rock Seven and Blue Sky Network Partner

SkyRouter (Photo: Blue Sky Network)

Communications technology and services developer Rock Seven said it has partnered with Blue Sky Network, a provider of mission-critical, satellite-based fleet management, tracking and operational analytics solutions serving private, commercial and government customers worldwide.This long-term cooperation will support growth in Blue Sky Network’s maritime strategy, but additionally has ramifications for clients in the aviation and land sectors.Headquartered in San Diego with a wholly-owned subsidiary in Brazil…

Nor Lines Cargo Vessels to Bunker with Titan LNG

Photo: Titan LNG

Shipping company Nor Lines has allocated its two LNG-powered multipurpose vessels to a biweekly liner service from the SCA terminal in Rotterdam to the Norwegian coast. Titan LNG, the service supplier of liquefied natural gas, will be supplying the chilled fuel to two Nor Lines' vessels - The MV Kvitnos and the MV Kvitbjørn. The ships are bunkering, like the Wes Amelie, with Titan LNG at the City Terminal in the Prins Willem Alexander harbour (port number 2790). The LNG is delivered to the vessels by trucks.

Diana Shipping Signs TC Contract for m/v Baltimore with Koch

 Baltimore. Photo: Diana Shipping Inc.

Diana Shipping through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping, Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$18,050 per day, minus a 5% commission paid to third parties, for a period of about 12 months to about 14 months. The charter commenced earlier today. The m/v Baltimore was chartered…

GasLog Partners Signs New Charter Agreement with Cheniere Energy

Photo: GasLog Partners

GasLog Partners announced that it has entered into a new multi-year time charter for the GasLog Sydney with a wholly owned subsidiary of Cheniere Energy scheduled to commence in 2018. The charterer has options to extend the charter for up to two consecutive periods at escalating rates. GasLog Sydney is a 155,000 cbm tri-fuel diesel electric liquefied natural gas (LNG) carrier built in 2013 and currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell plc through September 2018.

Sembmarine to Buy Sevan Marine’s IP

Photo: Sembcorp Marine

Sembcorp Marine (SembMarine) announced that its wholly-owned subsidiary, Sembcorp Marine Integrated Yard (SMIY) plans to buy the intellectual property (IP) of Norway’s Sevan Marine for US$28 million and bring an end to a long-standing intellectual property dispute between the two parties. SMIY will further undertake to take over some of Sevan Marine’s existing service contracts and provide engineering services to some of Sevan’s existing contract partners which have outstanding licence fees payable to Sevan Marine.

Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

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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