Owned Subsidiary News

16 Jan 2020

Diana Shipping Fixes Astarte with Aquavita

Image: Diana Shipping Inc

Diana Shipping through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A., for one of its Kamsarmax dry bulk vessels, the m/v Astarte.According a press release from the global shipping company specializing in the ownership of dry bulk vessels,  the gross charter rate is US$11,750 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to about 16 months. The charter is expected to commence on January 18…

15 Jan 2020

Beware of the Nominal Entity

© hildeanna / Adobe Stock

Make sure you know who you are really contracting with.A famous U.S. politician once insisted that “it takes a village to raise a child.” That said, any marine operator will tell you that it takes an even larger village and a ridiculous number of contracts to operate a vessel, and even more to manage a fleet of vessels. To make our marine operations run, we have to agree to contracts that provide for the construction or charter of a vessel, staffing, vessel catering, communications, fuel, maintenance, provisions, software, inspections, etc.

09 Jan 2020

Hamburg Port Orders 2 Fireboats

Following the delivery of the "Branddirektor Westphal" the Hamburg Port Authority (HPA) has ordered two more fire-fighting vessels (Photo Credit: Fassmer)

The Hamburg Port Authority (HPA) has ordered two more fire-fighting vessels following the delivery of modern fireboat, the "Branddirektor Westphal".As with the previous order, both vessels will be fitted with Schottel thrusters – in this case, two Schottel Rudderpropellers and one Schottel Transverse Thruster. These will enable maximum maneuverability in the restricted fairway of the Port of Hamburg.This mobility is also guaranteed in situations that require fast response times.

09 Jan 2020

Diana Shipping Fixes Ismene with Phaethon

Image: Diana Shipping Inc

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Ismene.According to a press note from the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$10,800 per day, minus a 5% commission paid to third parties, for a period of minimum 13 months to about fifteen 15 months.The charter is expected to commence on January 11…

07 Jan 2020

2020 Bulkers Adds Fifth Newbuild

Image: 2020 Bulkers

Norwegian shipowner and operator 2020 Bulkers has taken delivery of Bulk Shenzhen, the fifth of eight 208,000 dwt Newcastlemax newbuilds.One further vessel is expected to be delivered in January 2020, and the remaining two vessels are expected to be delivered by May 2020.The vessel will on January 9, 2020, commence a 11-13 month index-linked time charter with ST Shipping, a 100% owned subsidiary of Glencore. The index-linked rate reflects a significant premium to a standard Capesize…

31 Dec 2019

Castleton Closes Shell Shale Deal

Image: Castleton Resources

Houston-based Castleton Resources said that its subsidiary Castleton Commodities International LLC (CCI) has closed on the acquisition of the East Texas and North Louisiana Haynesville Shale assets of BG US Production Company LLC, a subsidiary of Royal Dutch Shell plc. Pro forma for the acquisition, Castleton Resources will hold approximately 222,400 net acres in the region and produce approximately 334 MMcfe/d (net). Castleton Resources is owned by CCI and Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co., Ltd. Concurrent with the transaction, Tokyo Gas America Ltd.

31 Dec 2019

IMO2020: Methanol Proves Promising

Feel the Power of Methanol: These 49,000 dwt vessels are built with the second generation of MAN B&W ME-LGIM two stroke dual-fuel engines that can run on both methanol and conventional marine fuels. 
Photo: Methanex Corporation

When the clock strikes midnight on December 31, 2019, the maritime world enters a bold new era of emission reduction. With its growing fleet of methanol fueled ship and more than 60,000 hours of operating experience under its belt, Waterfront Shipping Company has a five-year headstart.As a general rule, shipowners are remiss to share insights on their operations, lest their competitors catch wind and leverage the same technology and savings. The case of Waterfront Shipping Company Ltd.

29 Dec 2019

Diana Shipping Sells Calipso

Calipso. Image: Diana Shipping Inc.

Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement (MoA) to sell the 2005-built vessel Calipso to an unaffiliated third party.According to the global shipping company specializing in the ownership of dry bulk vessels, the vessel, which is sold for a sale price of US$7.275 million before commissions, is scheduled to be delivered to the unnamed buyer by the end of January.The Greek dry bulk owner has been selling its panamaxes for the last year and Calipso is the nineth in the row.Upon completion of the aforementioned sale…

30 Dec 2019

OSG Acquires Alaska Tanker

Image: Overseas Shipholding Group

Overseas Shipholding Group, the tanker company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets, has entered into agreements with BP Oil Shipping Company USA and BP AMI Leasing to purchase the crude oil carrier vessels operated by Alaska Tanker Company (ATC).OSG currently owns a 37.5% interest in ATC. As part of the above transaction, OSG will acquire the remaining 62.5% interest of ATC that it does not own.According to the publicly traded tanker company…

25 Dec 2019

Louisiana LNG Unit Starts Production

Image: McDermott International, Inc.

Train 2 of the Cameron LNG project in Hackberry, Louisiana, has begun producing liquefied natural gas (LNG), announced McDermott International and its joint venture partner, Chiyoda International Corporation, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan.While production is in the initial phases, this significant project accomplishment is a precursor to substantial completion of Train 2."This accomplishment is attributable to the entire team's unwavering commitment…

25 Dec 2019

World's First: Japanese Trio Intros LNG-fueled LCC

Images by: Oshima Shipbuilding and Namura Shipbuilding

Japanese shipping companies Nippon Yusen Kabushiki Kaisha (NYK) and Mitsui O.S.K. Lines (MOL) have signed long-term transport agreements with compatriot energy company Kyushu Electric Power (Kyuden) for LNG-fueled large coal carriers (LCC).According to a joint press release, the vessels are expected to become the world’s first LNG-fueled large coal carriers, under the operation of NYK and MOL, to import coal to Kyuden’s coal-fired power plants.The use of LNG fuel is expected to virtually eliminate sulfur oxides (SOx) emission and reduce approximately 80% of nitrogen oxides (NOx) emission…

17 Dec 2019

Diana Shipping Fixes Santa Barbara with Pacbulk

Santa Barbara. Image: Diana Shipping Inc

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Pacbulk Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Santa Barbara.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$17,250 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (months to maximum fourteen months.The charter is expected to commence on December 27…

11 Dec 2019

Wison Begins Arctic LNG 2 Project

Photo: Wison Offshore & Marine

Wison Offshore & Marine (WOM), the upstream oil and gas division of Chinese conglomerate Wison Group Holding, announced the fabrication of Arctic LNG 2 Project (ALNG2 Project) commenced in Zhoushan Yard.The module fabrication contract was awarded by Technip France S.A., a wholly-owned subsidiary of TechnipFMC.Novatek, client of ALNG2 project, is the largest independent natural gas producer in Russia. ALNG2 project comprises three LNG trains at 6.6 million tons per annum each.

03 Dec 2019

Diana Shipping Wins Ausca, Koch Charters

Image: Diana Shipping Inc.

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini.According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$11,500 per day, minus a 5% commission paid to third parties, for a period of minimum 13 months to about 15 months. The charter is expected to commence on December 4…

27 Nov 2019

Eagle Bulk Adds Shanghai Eagle to Fleet

Pic: Eagle Bulk Shipping

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, has taken delivery of the fifth of six Ultramax drybulk vessels it has recently agreed to acquire.The ship, which has been renamed the M/V Shanghai Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd, said the owner-operator within the Supramax / Ultramax segment.The acquisition was made by the EBS’ wholly-owned subsidiary…

26 Nov 2019

Performance Shipping Adds Aframax Tanker

Image: Performance Shipping

The global provider of shipping transportation services through its ownership of vessels, Performance Shipping has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/t Briolette (formerly Maersk Jamnagar).The containerships and tanker vessels said in a press releases that it had entered into an agreement to purchase the 2011-built Aframax tanker vessel of 104,588 dwt in June 2019. Including the newly delivered m/t Briolette, Performance…

25 Nov 2019

NYK, Pertamina Ink Energy Transport MOU

From left, Gandhi Sriwidodo, Logistic, Supply Chain and Infrastructure director, Pertamina; Akira Kono, managing corporate officer and chief executive of NYK’s Energy Division, NYK; Tafkir Husni, president director, PIS. Photo: NYK

As demand for energy transportation, especially liquefied natural gas (LNG), is expected to increase in Indonesia, NYK and PT Pertamina International Shipping (PIS), a wholly owned subsidiary of PT Pertamina (Persero) agreed to a memorandum of understanding (MoU) for energy transportation.The framework of the deal sees Pertamina, the largest oil and natural gas corporation in the state, and NYK in a strategic partners in energy transportation and covers ownership and management.

22 Nov 2019

Diana Shipping Announces T/C Contracts

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG, Lübeck, Germany, for one of its Post-Panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$10,250 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum thirteen (13) months. The charter commenced earlier today.The “Electra” is a 87,150 dwt Post-Panamax dry bulk vessel built in 2013.The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Protefs.

20 Nov 2019

Cargill Extends Diana Shipping Charter

Polymnia. Pic: Diana Shipping

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.According to the global shipping company specializing in the ownership of dry bulk vessels,  the gross charter rate is US$11,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum eleven months to about thirteen months.The new charter period commenced on November 15…

18 Nov 2019

Kim Heng Enters Taiwan’s OWP

Image: Kim Heng Offshore & Marine Holdings Limited.

Kim Heng Shipbuilding & Engineering (KHSE), wholly owned subsidiary of Kim Heng Offshore & Marine (KHOM), has entered into a Memorandum of Understanding (MoU) for offshore wind farm projects (OWP) in Taiwan.KHSE did not disclose the name of the other signatory.Singapore headquartered integrated offshore and marine value chain services provider said that its subsidiary and the unnamed subsea cable installer will collaborate with each other targeting the offshore wind farm cable…

14 Nov 2019

Diana Shipping Fixes Medusa with Cargill

Pic: Diana Shipping Inc

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Medusa.The gross charter rate is US$11,000 per day, minus a 4.75% commission paid to third parties, for a period of about 11 months to maximum 13 months, said the global shipping company specializing in the ownership of dry bulk vessels.The new charter period is expected to commence on November 15…

14 Nov 2019

Hung Hua Construction of Taiwan Orders Third FCS

Damen FCS 2610 Falcon III  (Photo: Damen)

Hung Hua Construction of Taiwan has ordered a third Damen Fast Crew Supplier (FCS) to add to the two it ordered at the start of the year.This latest vessel will be a Damen FCS 2610. The contract was signed by the two parties at the start of September and, with the vessel already on stock at Damen Shipyards Singapore, it will be delivered this month following finishing and some customization. It will be the company’s first operational vessel.The FCS 2610 is a best-selling design…

07 Nov 2019

Diana Shipping Sells Panamax Bulker

Pic: Diana Shipping

Diana Shipping announced that it has signed through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2005-built vessel “Clio”.The global shipping company specializing in the ownership of dry bulk vessels said that the delivery to the buyer is expected latest by November 29, 2019. The sale price of of Clio is US$7.4 million before commissions, it said.Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 42 dry bulk vessels (4 Newcastlemax…

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News