Term Charter News

AET signed an agreement for its first hybrid electric Dynamic Positioning Shuttle Tanker (DPST), designed to be dual-fuel, lower-emissions-ready and secured on long-term charter. AET operates one of the world’s largest DPST fleets, with 17 vessels deployed across Brazil and Norway, and further growth planned. With dual-fuel capability across all tanker segments, the addition of hybrid electric propulsion further broadens lower-emissions optionality for customers while enhancing competitiveness.The agreement was signed with Dalian Shipbuilding Industry Corp.

NYK Line, in partnership with Ocean Yield AS, has signed multiple long-term charter contracts for new liquefied natural gas (LNG) carriers with Cheniere Marketing International LLP, a wholly owned subsidiary of Cheniere Energy, Inc., a US LNG producer.The vessels will be built at HD Hyundai Heavy Industries Co. Ltd. in South Korea and will be delivered from 2028.The vessels will be equipped with a next-generation X-DF2.1 iCER*, VCR system**, dual-fuel, low-speed diesel engine that uses fuel oil and boil-off gas (LNG vaporized in the cargo tanks during navigation) for the main engine…

Mitsui O.S.K. Lines (MOL) has signed a long-term charter agreement with India’s state-owned Oil and Natural Gas Corporation (ONGC) for two newbuilding very large ethane carriers (VLECs) to be constructed by Samsung Heavy Industries.MOL established two joint ventures with ONGC, with the joint ventures and ONGC signing a 15-year charter contract for the vessels.The two vessels, each with a cargo capacity of 100,000 cubic metres, will be built at Samsung Heavy Industries’ Geoje shipyard in South Korea.

Norwind Offshore has taken delivery delivery of Norwind Maestro commissioning service operations vessel (CSOV) from Vard Søviknes, further expanding its managed fleet and reinforcing long-term commitment to supporting offshore wind farm operations.The 85-meter long Norwind Maestro CSOV has become the sixth vessel in Norwind Offshore’s fleet.The vessel, of VARD 4 19 design, will immediately start its 10-year contract at the Global Tech 1 Offshore Wind Farm in Germany, supporting operations and further strengthening the company’s long-standing partnership with Wind Multiplikator, a subsidiary of

MPC Container Ships (MPCC) has entered into contracts with Taizhou Sanfu Ship Engineering in China for the construction of six 3,700 TEU container vessels scheduled for first delivery in second half of 2028.Each vessel will operate under a 10-year time charter, with extension options, to a top five liner company.The vessels are based on the newest design, which optimizes speed and fuel consumption for regional and feeder trades, while keeping enough flexibility to shift between…

ZIM Integrated Shipping Services reported third-quarter 2025 earnings that, while sharply lower year-on-year, demonstrate the carrier’s ability to generate meaningful profit and cash flow in an increasingly volatile global container market. Revenues fell 36% to $1.78 billion as freight rates continued to normalize from 2024 highs, and net income dropped to $123 million, compared with $1.13 billion a year ago. Still, ZIM delivered an Adjusted EBITDA of $593 million—underscoring the value of its cost-efficient…

Flex LNG Ltd. reported steady third-quarter results for 2025, with a continued focus on maintaining its modern fleet of 13 large LNG carriers at peak operational and financial efficiency.Vessel operating revenues held firm at $85.7 million, with an average Time Charter Equivalent (TCE) rate of $70,921 per day across the fleet. The company reported net income of $16.8 million and adjusted EBITDA of $61.2 million, reflecting stable performance despite a sluggish start to the winter LNG shipping season.Fleet activity remained high during the quarter.

Ocean services provider DeepOcean and Saudi Arabia-based Jana Marine Services have signed a heads of terms agreement to establish a joint venture company that will offer integrated subsea solutions to the offshore energy industry in the Middle East.The intended joint venture, to be named JADE Subsea Services, plans to enter into a five-year charter agreement with Jana Marine for a newbuild DP2 hybrid diving support vessel (DSV) capable of performing subsea construction, inspection…

Dutch offshore equipment supplier SMST has secured a new contract from Norwegian shipbuilder Vard for the delivery of two sets of mission equipment to be installed on an additional two of North Star’s newbuild Service Operation Vessels (SOVs).These vessels are part of a long-term charter agreement between shipowner and operator North Star and energy company RWE.SMST previously supplied similar equipment for the first two CSOVs, the Grampian Eagle and Grampian Kestrel, which are also set to operate for RWE.RWE…

Brunvoll has entered into an agreement with VARD for the delivery of complete propulsion and maneuvering systems for two Commissioning Service Operation Vessels (CSOVs). The owner of these new vessels is North Star.Each of the two CSOVs will be equipped, from aft to bow, with two azimuth propulsion thrusters, a retractable azimuth thruster, a tunnel thruster, and a combined retractable azimuth/tunnel thruster. Together with Brunvoll’s Propulsion and Thruster Control system, BruCon PTC…

Japan’s NYK has signed a long-term time-charter agreement for a domestically built crew transfer vessel (CTV) with Oga Katagami Akita Offshore Green Energy, a joint venture established by JERA Nex bp Japan, Electric Power Development, Tohoku Electric Power, and Itochu Corporation.The 28-meter-long vessel will be constructed by Kosaba Shipbuilding in Kamaishi City, Iwate Prefecture, and will operate along the coasts of Oga, Katagami, and Akita, supporting Japan’s first offshore wind project in general sea areas.The design is based on a model operated by Northern Offshore Services (N-O-S)…

The United States Trade Representative's office said on Friday it would modify certain maritime-related fees for foreign-built vehicle carriers and liquefied natural gas vessels ahead of port fees on China-linked ships slated to go into effect next week.USTR said in a statement that fees on operators of foreign-built vehicle carriers would be $46 per net ton, effective on October 14. That is below a fee of $150 per net ton originally proposed in April, seen by the industry as prohibitive…

Watson Farley & Williams (WFW) advised shipping company MPC Container Ships ASA (MPCC) on its sale of seven container ships for a transaction value of US$94 million. The disposal is part of MPCC's strategic development and the targeted restructuring of its fleet.MPCC has agreed to sell five ships en bloc to Contships Group, comprising three 1,300 TEU ships and two 2,000 TEU ships. In addition, two further ships have been sold to Seacon Group.Oslo-based MPCC is a leading container ship owner with a focus on small to medium-sized vessels.

Wind Multiplikator, a subsidiary of Danish company Semco Maritime, has signed a long-term charter agreement with Norwegian shipping company Norwind Offshore for a Commissioning Service Operation Vessel (CSOV), set for deployment at an offshore wind farm in German North Sea.The newly built vessel Norwind Maestro is scheduled for delivery in the first quarter of 2026, with a sister ship of the same design available from the fourth quarter of 2025.Both CSOVs will operate directly out of Emden…

North Star’s £400 million ($550 million) ongoing commitment as part of its ESG strategy, combined with a £1.8 million ($2.47 million) investment in crew training last year, has delivered significant progress in its transition to operating a net zero fleet by 2045.The UK’s largest integrated ship owner-operator has a current fleet of 48 vessels. Findings from its 2024 ESG report include an 18% reduction in fleet-wide carbon intensity compared to 2022, alongside a 15% year-on-year…

Hanwha Ocean, one of the leading shipbuilders in South Korea, has awarded ABB the contract to supply a complete electric power and propulsion system for Singapore’s first floating liquefied natural gas (LNG) terminal.ABB ’s integrated electrical system on board the Floating Storage and Regasification Unit (FSRU) will comprise a medium voltage generator, 6.6kV switchboards for cargo and regasification, and the motor, transformer and drive for propulsion.The floating terminal will also feature ABB’s remote control and remote diagnostics system…

Roll Group has signed the long-term charter of the wide deck carrier Bigroll KMC Beaumont from its partner KMC Bluewhale.The vessel was delivered in Singapore and will immediately begin operations to support of Roll Group’s expanding global project logistics and transportation services.With its 139-meter length overall and 32-meter deck width, the Bigroll KMC Beaumont is expected to enhance the company’s ability to transport heavy and oversized cargoes across key markets, particularly…

U-Ming Marine Transport Corporation has completed the installation of four Rotor Sails on its very large ore carrier (VLOC) vessel Grand Pioneer, becoming the first Taiwanese shipowner to adopt the wind-assisted propulsion technology.The sails, supplied by U.K.-based Anemoi Marine Technologies, were installed on a 325,000 deadweight tonne (DWT) vessel at COSCO Zhoushan Shipyard in September during a scheduled dry-docking.The plug-and-play process saw the four 35-meter tall, five-meter diameter sails lifted onto the vessel and fixed in 1.5 days…

Dutch offshore equipment supplier SMST has been selected by Louis Dreyfus Armateurs (LDA) for the delivery of two sets of mission equipment, with an option for a third set, for service operation vessels (SOVs) ordered by Vattenfall.The Telescopic Access Bridges (TAB-L1), Access and Cargo Towers (ACT) and the 5t Motion Compensated Cranes (MCC-M) will be supplied to LDA’s newbuild SOVs.The by Salt designed vessels, to be built at Shanghai Zhenhua Heavy Industries Company (ZPMC)…

Bergen Tankers and Equinor have signed a long-term charter agreement for two oil/chemical tanker newbuilds with an electric propulsion system, which aim to set a new standard for low emissions at the Norwegian Coast.The Norway-based companies selected Berg Propulsion as the system integrator for these DNV ice-classed tankers. The newbuild 6,500 dwt stainless steel tankers will be built by Zhoushan Dashenzhou Shipbuilding in China.The vessels will include two electric drive controllable…

Windward Offshore has taken delivery of its first Commissioning Service Operation Vessel (CSOV), Windward Athens, built by Norwegian shipbuilder Vard.The vessel represents a major milestone on Windward Offshore’s growth path and marks the company’s entry into operations with its dedicated CSOV fleet.The Windward Athens is designed to support installation, commissioning, and maintenance activities in offshore wind farms.Measuring 87.5 meters in length with a 19.5-meter beam, she offers accommodation for up to 120 people and is equipped with the latest technology for safe…

Tallink Grupp’s subsidiary, Tallinn–Helsinki Lin, has sold the cargo vessel Regal Star to the Turkish company Ams Line Shipping.The vessel was officially handed over to its new owner on August 6, 2025, and the details of the transaction have not been disclosed.In April, following the sale of passenger vessel Star I, the Paldiski - Kapellskär route began operating with Superfast IX, which returned from long-term charter service in Canada.Regal Star previously served on the same route mainly as a cargo vessel…

HGK Shipping celebrated the naming ceremony for the gas tanker, “GAS 96”, in Rotterdam on October 9, 2025. This is the third gas tanker that combines optimization for operations in shallow waters with a diesel-electric “future-fuel-ready” drive system for Europe’s largest inland waterway shipping company.The “GAS 96” will operate on the Rhine routes between Rotterdam, Antwerp and Cologne with immediate effect and transport gases that have been liquefied under pressure for the chemicals group, LyondellBasell (LYB).