Star Maritime News

Compliance, performance, profitability, sustainability; take the biggest ‘pain points’ for almost any shipping company and watch NAVTOR’s digital ecosystem work wonders. Here Tor Svanes, Founder and CEO, explains how NAVTOR has grown to lead the smart shipping world, why the recent merger with Voyager Worldwide was so critical, and how he hopes to help steer the industry towards brighter, simpler, and more intelligent horizons.“The morning of the announcement I got a text from the boss of one of our biggest competitors…

A project, GASS, led by Navtor, with six other Norwegian research, innovation and industry partners, has been awarded 44 million Norwegian kroner to develop new commercial AI-enhanced technology and services to optimize the energy usage of vessels and ships.Navtor, Grieg Star, Maritime CleanTech, Scandinavian Reach Technologies, Simula Research Laboratory, SinOceanic Shipping and Sustainable Energy are partnering on the project which will enable vessel owners and operators to…

A new icebreaking tugboat built by Blount Boats in Rhode Island has been delivered to the New York Power Authority (NYPA) to work in the Niagara River to help alleviate shoreline flooding and reduce the likelihood of ice limiting the power production at large hydro plants along the Niagara River. The Breaker II joins a fleet of three boats that work every winter to install the Lake Erie—Niagara River Ice Boom—a series of 22 spans of steel pontoons that straddle the mouth of the…

Eleven Indigenous young men and women graduated from Navy Recruit training in one hit on October 13 in front of family, friends and the Chief of Navy. For Seaman Star Marine Technician Jeff Andrews, the hard work was well worth the effort. Awarded 'Recruit of the Intake' and 'Sportsperson of the Intake', Seaman Andrews impressed staff through his exemplary performance, outstanding attitude, his skill at motivating others and in helping fellow Recruits achieve their goals. “I had several attempts to get into Navy before being accepted by the Defence Indigenous Development Program – Navy," he said. “I have a twin brother in the Army who has served eight years. “This sense of direction has been one of the most rewarding feelings,” Seaman Star Andrew said.

The Port of Long Beach's Green Flag and Green Ship annual awards honored 20 shipping lines for efforts to improve air quality. Efforts to improve air quality locally were accomplished by slowing ships down or deploying cleaner vessels, or both. The Port’s Green Flag Program was created in 2005 and participation today is nearly universal. In 2012, almost 96 percent of all ships calling at Long Beach slowed to 12 knots within 20 nautical miles of the Port. In 2009, the Port added the 40 nautical mile option and last year, more than 83 percent of vessels slowed from 40 nautical miles.

The introduction of new emissions control areas (ECA) off the coastal waters of the US and Canada promise great changes for shipping in the region. regulations coloured many of the topics discussed at the North American Committee of Germanischer Lloyd (GL), which met at the Hotel Delta in Quebec City this week. The Committee examined such topics as GL's activities, both globally and in the Americas, ship efficiency, the rising importance of natural gas for the maritime industry, the technical challenges facing shipping in reducing emissions and upcoming regulations. The Committee, which only celebrated its inauguration in 2010, is made up of representatives from Canadian and American ship owners and operators…

Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes announced that the company has sold contracts in the Freight Forward Agreement ("FFA") market on the Capesize index for Calendar 2009 for a total of 360 calendar days with an average rate of approximately $19,900 per day. The Capesize index refers to a modern Capesize dry bulk carrier. The contracts are intended to serve as an approximate hedge for one of the company's Capesize vessels trading in the spot market for 2009, effectively locking-in the approximate amount of revenue that the company expects to receive from such vessel for the period.

Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on transportation of dry bulk cargoes, announced its operating results for the third quarter and nine months ended September 30, 2008. •    The Company reported net income of $35.24 million for the third quarter of 2008 compared to net income of $0.94 million for the third quarter of 2007. •    Voyage and time charter revenues were $65.18 million for the third quarter of 2008. This figure includes revenues of $16.89 million attributable to the amortization of the fair value of below/above market acquired time charters. •    Earnings per share, basic and diluted for the third quarter of 2008 were $0.63 and $0.62, respectively.

The P&I Club recorded a growth of nearly two million gross tons in its book of owners’ P&I business during the 2007/8 policy year, increasing the total mutual membership to approximately 37.5 million gross tons. In addition, the Club’s portfolio of charterers’ entries - cover for which has been enhanced by the development of a flexible combined single limit facility - brought the ’s overall tonnage to nearly 40m gt. During the course of the year, the Club welcomed new members, including Dong Guan Haichang Shipping Co, Epic Shipmanagement, Free Bulkers, Global Ship Lease, Grand China Logistics Holding Co, Hellenic Star, Maritime Capital Partners, MSI Ship Management Pte, Neptune Lines, Primal Shipmanagement, Trans Asian Shipping Services Pvt, and Tristar Management.

Star Bulk Carriers Corp. has entered into a definitive agreement to acquire a Capesize bulk carrier of approx. 180,000 dwt, built in 1991 in Japan, for approximately $83.7 million from Japanese interests. The vessel will be financed through a combination of company cash and bank debt. The vessel to be renamed the M/V Star Sigma, is scheduled to be delivered to Star Bulk within April/May 2008. It comes with a one-year time charter back to its present owners which will commence on the day of its delivery to Star Bulk at a gross rate of $100,000 daily thereby expected to add revenue in excess of $ 35 million during its twelve month employment under the time charter.

Star Bulk Carriers Corp. (NASDAQ:SBLK) announced that its board of directors has approved a plan for the repurchase of up to an aggregate of $50 million of its Common Stock and Warrants which may be repurchased by the Company from time to time until December 31, 2008. The plan calls for the repurchases of both Common Stock and Warrants to be made in open market or privately negotiated transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, subject to market and business conditions, applicable legal requirements and other factors. The plan will be implemented by the Company's management at its discretion. The plan calls for the repurchased shares and warrants to be retired as soon as practicable following the repurchase.

Hvide Marine and Tesoro Maritime have begun a new double-hull petroleum transport service in Alaskan waters. The 46,000-ton HMI Cape Lookout Shoals - one of Hvide's new U.S.-flagged Lightship-class double-hull tankers - began charter the first week of August. Operating under a three-year contract with Gold Star Maritime, which is a subsidiary of Tesoro Maritime Company, the vessel will service a trio of refineries owned and operated by Tesoro. The refineries are located in Nikiski, Alaska on Cook Inlet; Anacortes, Wash.; and Kapolei, Hawaii. The tanker, which will for the most part be employed in northern waters, will have a typical itinerary that includes transporting Cook Inlet crude from the Drift River Loading Platform to the Kenai Pipe Line Company dock…

Twenty-four prominent shipping industry executives have been elected as new Members of ABS bringing the classification society's worldwide membership to 817. The members, each eminent in their maritime field of endeavor, provide broad governance and oversight of ABS. Members are drawn from various sectors of the marine, offshore and related industries worldwide. Timothy J. Lawrence R. James J. John R. RADM. Robert C. Vittorio Portunato, Managing Director, Portunato & C.S.R.L. John F. Reinhart, CEO, Maersk Line. William J. H. W.

Star Maritime Acquisition Corp., a Delaware corporation, announced that at its special meeting of stockholders held yesterday, its stockholders voted to approve by an overwhelming majority the acquisition by Star Maritime's wholly-owned Marshall Islands subsidiary, Star Bulk Carriers Corp. of eight drybulk carriers from subsidiaries of TMT Co., Ltd. and the merger of Star Maritime with and into Star Bulk, with Star Bulk as the surviving corporation.

Star Bulk Carriers Corp. (NASDAQ:SBLK), or Star Bulk, announced the completion of the Redomiciliation Merger by which Star Maritime has merged with and into Star Bulk with Star Bulk as the surviving entity. Star Bulk's common stock and warrants have been approved for listing on the NASDAQ Global Market under the symbols "SBLK" and "SBLKW" respectively. Trading under said symbols is expected to commence on Monday, December 3, 2007. The Company expects to take delivery of its first vessel early next week. Each outstanding share of Star Maritime common stock, par value $0.0001 per share, has been converted into the right to receive one share of Star Bulk common stock…

Star Bulk Carriers Corp. agreed to acquire the vessel E Duckling (to be renamed Star Kappa), for $72 million from a company affiliated with our Co-Chairman, Nobu Su. The Star Kappa, a Supramax vessel of 52,055 dwt built in 2001 in Japan, will have a three-year Time Charter employment contract attached at a gross daily rate of USD 47,800 with earliest and latest redelivery of September 23, 2010 and November 23, 2010, respectively. Akis Tsirigakis, President and CEO of Star Maritime sid: "We are pleased to announce our first vessel acquisition since the completion of the redomiciliation merger which will expand the fleet to nine vessels. Our low leverage affords us the flexibility to continue to seek growth opportunities in the dry bulk sector as they may arise."

Greece's Blue Star Maritime SA said it signed an agreement to sell its catamaran Seajet 2 for $3.6M to the Sea Jet II Shipping Co The delivery of the vessel is expected to take place by the end of March. Part of the sale price will be paid when the vessel is delivered, while the credited amount of $3M will be paid in monthly instalments until September 2006. Blue Star said the vessel sale is part of its policy to focus on the operation of fast, modern, conventional vessels. Source: Euro2day.gr NewsWire

Charter agreements have been signed for two more of the 10 Jones Act commercial product tankers being built at Aker Philadelphia Shipyard. The agreements were made between Gold Star Maritime Company, an affiliate of Tesoro Corporation (Tesoro), and Overseas Shipholding Group Inc. (OSG), which has partnered in the new fleet with Aker American Shipping (AKASA), parent company of the shipyard. As part of the Aker group of companies, Aker American Shipping, in conjunction with its subsidiaries, operates as both shipbuilder and ship owner in the Jones Act segment of the U.S. commercial maritime industry. Tesoro had previously secured two vessels in the series in April of this year.

Overseas Shipholding Group announced that time charter agreements have been signed for two more Jones Act commercial product tankers being built at the Aker Philadelphia Shipyard. The agreements were made between OSG and Gold Star Maritime Company, an affiliate of Tesoro Corporation (Tesoro), an independent refiner and marketer of petroleum products. Tesoro has chartered a total of four Jones Act commercial product tankers from OSG. of ships chartered of OSG's ten-ship order to eight. Four tankers are currently under construction at the yard, with the first, the Overseas Houston, slated to be named on November 11, 2006. The balance of the tankers will be delivered through 2010.

Star Maritime Acquisition Corp. announced that it received an audit report, which is included in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006, that contains a going concern qualification. This announcement is made in compliance with Section 610(B) of the American Stock Exchange Company Guide.

Left to right: Mrs. Diane Ryan; Honorees Captain Brian A. McAllister ’56; Captain Anthony J. McAllister III ’80 and Vice Admiral John Ryan at the 2005 Admiral’s Scholarship Dinner at SUNY Maritime College. SUNY Maritime College hosted a record crowd of over 400 during the 2005 Admiral’s Scholarship Dinner, held in Vander Clute Hall on Friday, May 6 at Maritime’s scenic waterfront campus. A record $200,000 was also raised in support of cadet scholarships for incoming freshmen. Dinner Honorees included the Reverend Michael Robert Moynihan, Maritime College chaplain and pastor of St. Michael the Archangel Church and St. Timothy Chapel in Greenwich…