Golden Ocean Group Announces Sale
Golden Ocean Group Limited has agreed to sell the vessel M/V Shinyo Brilliance. The vessel is a Panamax bulker and is one of the long-term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72m net. The strike price for the option is about $20m net and the transaction will thereby free up approximately $52m in cash liquidity.
Yara Orders Three Handy-size Ammonia Vessels
Yara International ASA has entered into shipbuilding contracts with Hyundai Mipo Dockyard (HMD) for the construction and delivery of three 20,600 CBM semi-refrigerated LPG carriers with an expected cost per vessel of $51 million (USD). Following an evaluation of current newbuild and time charter rates, Yara has chosen to build new vessels to replace existing time chartered vessels, covering part of its long-term transport requirement at attractive rates, meeting stricter environmental regulations and maintaining flexibility to serve Yara's production system. Yara currently has a fleet of 16-18 time chartered vessels serving its European plants and long-term off-take agreements in Trinidad and Australia.
Diana Shipping Enters into TC Contract with Uniper
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$12,700 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter commenced on January 13, 2018. The m/v Phaidra was previously chartered to Jera Trading Singapore Pte. Ltd.
Global Ship Lease Eyes Acquisitions
The London-based Global Ship Lease (GSL) said that it is well-positioned as one of few publicly listed containership leasing companies to acquire attractive portfolios of ships, attract growth capital or find a complementary merger partner. The containership charter owner has engaged Evercore to act as financial advisor to assist in reviewing strategic alternatives focused on maximizing shareholder value. GSL has successfully refinanced of all of the its indebtedness in October 2017 and with a strengthening market backdrop.
Global Ship Lease Extends TC with CMA CGM
Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.
Odfjell Expands Fleet
Odfjell has bought M/T "Giada D" from Italian owners. The vessel is built in 1996 at Chantiere Navale de Poli, Italy and she is 10,115 dwt with stainless steel cargo tanks. The change of ownership will take place in 3rd Quarter 2006. Further, Odfjell has entered into a long-term time-charter agreement with purchase option for a vessel of 33.000 dwt with stainless steel cargo tanks. The ship will be built at Kitanihon Shipyard, Japan, and will be owned by Yuyo Steamship Co Ltd, Japan. Delivery of the newbuilding will be 3rd Quarter 2009. This agreement will bring the Odfjell-controlled Japanese deep-sea time-charter vessels on order to a total of 16 units, including five vessels from Ahrenkiel. In addition to this Odfjell has 10 newbuildings on order, and options for another 6 ships.
GOGL Acquires New Vessel
Norway based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of the second vessel, Sea Monterrey (to be renamed Golden Monterrey). On October 16, 2017 GOGL announced that it has entered into agreements to acquire two modern Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family (Hemen), the Company's largest shareholder, at a purchase price of USD 43.0 million per vessel. The first vessel, Golden Behike, was delivered in November 2017.
Nordic American Tankers Signs TC with Cepsa
Nordic American Tankers has announced that it entered into an one-year term charter with the major Spanish oil company Cepsa for a ship. The company says is the 2004 built Nordic Castor is expected to be delivered on the time charter in late February for a contract of up to 15 months. "She is expected to be delivered on the time charter late February, subject to a satisfactory inspection in next discharge port. The fact that NAT has only one million barrel suezmax ships allows us to achieve economies of scale. The agreed rate secures a good cash flow," said a company statement.
Cargoship Maritime, Magellano Marine to Restructure
Cargoship Maritime BV and Magellano Marine CV, Netherlands-based vessel operating companies managed by Seaarland Shipping Management BV (Amsterdam) have appointed Lazard and Venice Shipping & Logistics (VSL) as restructuring advisors. They will assist the companies to complete the restructuring process begun last year when thirteen owners of twenty-two vessels with time charters with Cargoship Maritime BV and two bareboat charters held by Magellano Marine CV were asked to agree to modified terms. Antonio Zacchello, managing director of Seaarland Shipping Management said, "Towards the end of last year we asked the owners we partner to adjust with us to the new realities of the marketplace.
Blue Water Trade Winds Signs Contract with ST Shipping & Transport
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.
Eagle Bulk Shipping Inc. Reaches Agreement With Korea Lines Corporation
NEW YORK, March 25, 2011 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE) ("Eagle Bulk") announced today that it has reached a comprehensive agreement with the Receivers of Korea Line Corporation ("KLC") regarding twelve time-chartered vessels impacted by KLC's decision to file for protective receivership earlier this year. The agreement follows extensive and highly constructive dialogue between the two parties. -- Charter rates on ten vessels have been adjusted to $17,000 per vessel per day.
Concordia Maritime Charters Two More MR Vessels
Swedish tanker owner Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year. A contract to charter out the P-MAX tanker Stena Performance has also been signed. The contractual partner is a large global oil company and the vessel will be used primarily for niche traffic in the Middle East. As with previous charters, these latest contracts are joint charters with Stena Bulk, and Concordia Maritime’s share amounts to 50 percent.
Andreas Silcher Negotiates LNG Carrier Contracts
Partner Andreas Silcher in Haynes and Boone’s London office represented TMS Cardiff Gas in its contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, plus an option for a second vessel. In a press release, TMS Cardiff Gas called the order the first in the company’s X Carrier Series of orders, which expands the company’s fleet of managed vessels to 10. The vessel is scheduled for delivery in 2020, when she will enter into a seven-year time charter contract with TOTAL Gas & Power Chartering, Limited.
Lauritzen Reflags Two Gas Carriers to Denmark
Lauritzen Kosan has reflagged two of its ships to Denmark for the first time since 2003. The registers of the two vessels, the Helena Kosan and the Linda Kosan, have been changed to the Danish International Register of Shipping (DIS) as they begin a period time charter which will require an EU flag. “The reflagging of these two gas carriers to Denmark is driven by commercial arguments, and it goes to show that the Danish flag is now very close to being as competitive as Malta, Singapore and the Isle of Man.
DryShips Adds Fourth VLGC
DryShips, a diversified owner of ocean going cargo vessels, announced today that it has taken delivery of its fourth high specification very large gas carrier (VLGC) newbuilding. The VLGC will be employed under a fixed rate time charter with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. DryShips has now taken delivery of all of the 17 vessels it has acquired since the beginning of 2017.
Scorpio Bulkers Remain Confident Despite Q1 2014 Loss
Scorpio Bulkers Inc. has reported its results for the three months ended March 31, 2014. In connection with comparisons of financial performance they say they had no operations from the period from March 20, 2013 (date of inception) to March 31, 2013. For the three months ended March 31, 2014, the Company had a net loss of $10.7 million, or $0.08 basic and diluted loss per share. This loss includes the noncash amortization of stock-based compensation of $5.1 million. "Our time-chartered vessels are positioning themselves for the South American grain season…
TMS Cardiff Gas Places Order at HHI
TMS Cardiff Gas said it signed a contract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of one 174,000 cubic meter liquefied natural gas (LNG) carrier, with an option for a second vessel. The newbuild is scheduled for delivery in 2020, when she will enter into a seven year time charter contract with TOTAL Gas & Power Chartering, Limited. This order is the first in the company’s X Carrier Series, which expands the TMS Cardiff Gas fleet of managed vessels to 10 (six LNG carriers and four VLGCs).
Capital Product Partners Buys Aframax
Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading. The M/T ‘Aristaios' is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro') at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days.
Top Ships Gets TC Extension for Four Vessels
TOP Ships, an international ship-owning company, announced that it has extended the time charter agreements with Stena Bulk AB (ex Stena Weco AS) by 12 months for M/T Stenaweco Energy and M/T Stenaweco Elegance and by 18 months for M/T Stenaweco Evolution and M/T Stenaweco Excellence. The Company expects a total gross revenue backlog associated with these time charter extensions of $27.4 million.
Navios Maritime Containers Acquires Boxship
Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has acquired the Navios Felicitas, a 2010-built, 4,360 TEU containership for a purchase price of USD 11.45 million. The vessel was delivered to Navios Containers’ fleet in December 2017. Navios Containers financed the acquisition of the vessel with cash on its balance sheet and $6.0 million of bank debt under one of its existing credit facilities. Following this acquisition, Navios Containers controls 21 vessels, totaling 88,820 TEU.
Golar LNG Bags New Long-term FSRU Contract
Golar LNG Partners announced that it has executed a 15-year charter with an energy and logistics company for the provision of an FSRU (floating storage and regasification unit) and related services in the Atlantic Basin. The charter provides the Partnership with the flexibility to nominate either the Golar Spirit or the Golar Freeze to service the contract provided that the nominated FSRU satisfies certain technical specifications ahead of project start-up, which is expected in the fourth quarter of 2018.
Terntank Orders 2 More LNG Fueled Tankers
Terntank proclaims its options on two sister ships to the two LNG powered product tankers ordered in the autumn of 2013. The oil company NEOT also confirmed that they are taking in two of these on time charter. Terntank Rederi AS now has four LNG powered 15,000 dwt product tankers on order at the Chinese shipyard Avic Dingheng Shipbuilding Co., Ltd. The ships will be delivered at three-month intervals so that the first one will be delivered in the spring of 2016 and the fourth in the beginning of 2017.
Missing Tanker Found; Account of Pirate Attack Disputed
M/T Kerala vanished on January 18 off Angola; Angolan Navy says hijacking faked. The Angolan Navy is claiming that the crew of an oil tanker reported missing off its coast on Jan. 18 were part of faked pirate attack. Separately, a regional security expert who declined to be named for the purposes of this report, expressed doubt as to the accuracy or motives of the Angolan Navy statements. The Sonangol time-chartered vessel was eventually located in Nigerian waters. Previously, the crude oil tanker was reported missing from Luanda anchorage and thought to be hijacked by pirates. All communications with the tanker had been lost. On 26 Jan 2014 the Master made contact with the owners reporting that the tanker had been released and that the pirates had stolen a large amount of cargo.