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 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.
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.
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.
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.
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.
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.
Four Japanese Companies Join Modec in Sepia FPSO Deal
Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. "MODEC, Mitsui, Mitsui O.S.K. Lines, Marubeni Corporation and Mitsui Engineering & Shipbuilding Co have agreed to jointly invest in a long-term charter business currently promoted by MODEC, for providing a FPSO in the Sepia Area, off the coast of Brazil," said a press release. These companies have entered into related agreements for the FPSO project on January 9, 2018.
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.
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.
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).
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.
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.
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.
FLEX LNG Sings TC for First LNGC Newbuilding
FLEX LNG announced that it has entered into a time-charter contract for the LNG carrier newbuilding, Flex Endeavour, to Uniper Global Commodities, a leading international energy company with operations in more than 40 countries, and headquarter in Germany. Flex Endeavour is a state-of-the-art 173,400 m3 cargo capacity LNG carrier equipped with the new high efficiency MEGI propulsion system. The Vessel is currently under construction at DSME, South Korea. The time charter period is for 15 to 18 months commencing immediately upon the delivery from the shipyard in January 2018.
Diana Shipping to Continue TC with Glencore
Diana Shipping announced that through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$12,500 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to about 19 months. The new charter period is expected to commence on January 3, 2018. The m/v Leto is currently chartered, as previously announced, at a gross charter rate of US$7,750 per day, minus a 5% commission paid to third parties.
D'Amico Announces Sale & Lease Back of MR Vessel
D'Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Freedom, a 49,990 dwt medium-range product tanker vessel, built in 2014 by Hyundai-Mipo, South Korea for a consideration of US$ 28.0 million. D'Amico Tankers is an operating subsidiary of d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market. This transaction allows d’Amico Tankers to generate around US$ 13.4 million in cash…
Denmark is World's Sixth-Biggest Seafaring Nation
The Danish-controlled fleet is increasing. Taking the sixth place on the list of the world’s major shipping nations given as operated tonnage, Denmark has advanced one place. Already from early 2018, Danish shipping has a fair wind and has succeeded in advancing on the list of major shipping nations. This is demonstrated by the most recent overview from IHS Markit (Sea-web). At present, Danish shipping is undergoing positive developments. This is now directly deductible from the ranking list of the world’s major shipping nations.
Navios Announces New Time Charters
Navios Maritime Holdings Inc. has secured new time charters for four vessels.Navios TBN Capesize -- Ten-Year Charter Navios TBN Capesize, a 172,000 dwt new building vessel scheduled to deliver in the fourth quarter of 2009, has been chartered-out for ten years commencing upon delivery. The ten-year, net daily charter-out rate will be $41,325 per day. Navios TBN Capesize, another 172,000 dwt new building vessel scheduled to deliver in the first quarter of 2010, has been chartered-out for five years commencing upon delivery. The five-year, net daily charter-out rate will be $57,000 per day. The Navios Orion, a 76,602 dwt Panamax vessel built in 2005, has been chartered-out for approximately three and a half years, commencing April 1st 2009 through December, 2012.
Tsakos Energy Navigation Announces Three-Year Time Charter
Tsakos Energy Navigation Ltd. (TEN) (NYSE: TNP) announced three-year time-charters to a major European oil company for the 2007-built 1A ice-class suezmax tanker Antarctic and the 2005-built 1C iceclass suezmax tanker Eurochampion 2004. The charters are structured with a minimum rate and a 50/50 profit-share when rates exceed that minimum. operated in the spot market. The Antarctic charter began on October 27, 2007, while the Eurochampion 2004 charter is expected to commence at the beginning of November 2007. The gross proceeds from these charters, assuming only the minimum rate, are expected to exceed $76m over the corresponding charter period.
Global Ship Lease Extends Ville d'Aquarius Time Charter
Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Aquarius, a 1996-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders. The extension is for an additional four to six months, at charterer's option, at a gross charter rate of $10,700 per day, compared to the current charter rate of $8,390 per day. The extended time charter will commence immediately upon expiration of the vessel's current time charter on June 3, 2015. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are delighted to have agreed with Sea Consortium / X-Press Feeders to extend the charter for the Ville d'Aquarius at a significantly higher rate than its previous charter, with no idle time or repositioning costs.
Danaos Re-charters Norasia Hamburg Ahead of 2008 Redelivery
Danaos Corporation has signed an agreement with the United Arab Shipping Corporation to time charter the 3,908 TEU Norasia-Hamburg for a period of 36 months. During the first 12 months of the charter, the charterer has the option to convert the three year charter to a 5 year charter, at lower rate. The charter will begin as of the date when the current employment of this vessel ends in the first quarter of 2008. The Norasia-Hamburg is currently on time charter with CSAV.