St Shipping Transport Pte Ltd News

Performance Shipping, a shipping company specializing in the ownership of tanker vessels, has entered into a time charter contract with ST Shipping & Transport Pte Ltd., for the 2010-built, 105,304 dwt, LR2 Aframax oil product tanker, the M/T P. Aliki. The gross charter rate will be based on a fixed floor rate of US$45,000 per day for a period of minimum of four months to a maximum of five and a half months at the charterer's option, plus a 50/50 profit share provision above the floor rate. The charter started on June 26, 2023, and is expected to generate approximately a minimum of US$5.5 million to a maximum of US$7.5 million in gross revenue to Performance Shipping…

Greek tanker owner Performance Shipping announced on Monday it has taken delivery of a secondhand Aframax tanker it agreed to purchase in September 2022.The P. Monterey, formerly Phoenix Beacon, is a 105,525 dwt tanker built in 2011. It is equipped with a ballast water treatment system (BWTS), and its next scheduled special survey is not due until 2026.The vessel was acquired for a total purchase price of $35 million and partially financed through the recently announced term loan facility with Piraeus Bank S.A.Following the delivery, P. Monterey will commence a time charter contract with ST Shipping & Transport Pte Ltd., a wholly-owned subsidiary of Glencore, at a daily rate of $32,000 per day for a period of 24 months +/- 45 days at the option of the charterer.P.

Blue Water Trade Winds Pvt. Ltd., a Dehradun, India-based marine consulting firm, has recently signed a three-year contract with ST Shipping & Transport Pte Ltd for implementing “Cargo Heating Management Service” onboard their substantial fleet of owned and time chartered vessels, reports Anurag Datta, Manager (Technical & Business Development) at Blue Water. The Service is used to optimize the shipboard fuel oil consumption required for cargo heating operations and it’s a milestone addition to the upcoming ways of saving fossil fuels and reducing environmental impact from emissions; primarily by innovating new methodologies to optimize the fuel consumption in a system.

Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced it has taken delivery of the first of its newbuildings, the 47,000 dwt. Omega Duke. It further announced that it has taken several measures to better position itself to fund its newbuilding commitments from internally generated cash flow. As previously announced, Omega has commitments from commercial banks to provide 75% financing at delivery of all of its remaining newbuildings based on contract prices or fair market values at the time of delivery. In May 2008, Omega announced it had entered in to an agreement with an unrelated third party to purchase two newbuilding 47,000 dwt.

Omega Navigation Enterprises, Inc. has secured three year time charters at a daily rate of $25,500 for its two recently acquired newbuilding product tankers, the Omega Emmanuel and the Omega Theodore, with ST Shipping & Transport Pte Ltd, a subsidiary of Glencore International AG. Both time charters include profit sharing arrangements on quarterly basis, pursuant to which earnings from the vessels in excess of $25,500 per day will be divided equally between Omega Navigation and ST Shipping. This sharing ratio will be adjusted when the vessels trade in ice conditions, so that the profit sharing above the base rate of $25,500 per day between Omega Navigation and ST Shipping will be 65%/35%.