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Term Charter

Otto Marine Send Two AHTS to GoM, One to W. Africa

AHTS Redfish 4: Image courtesy of Otto Marine

Offshore marine services firm Otto Marine informs it has obained a total of US$24.9 million in charter contracts for three offshore vessels – Redfish 4, Go Canopus and Go Altair. Details as follows: Redfish 4, an 8,000bhp Anchor Handling Tug Supply (AHTS) vessel equipped with dynamic positioning 2 capabilities will be deployed for work on long term charter in Mexico. Go Canopus, a 10,800bhp AHTS vessel built in 2009 with DP2 technology has been contracted on long term charter, also for work in the Gulf of Mexico. Go Altair, a 5,150bhp AHTS with dynamic positioning 1 capabilities, has been cotracted for a short term towage project from Singapore to West Africa, and will then be strategically located to the West African market. About the Company Headquartered in Singapore, Otto Marine Limited is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion.  


GasLog Order More LNG Carriers & Fix Charters

GasLog Singapore: Photo credit GasLog

GasLog has ordered two new 174,000 cbm Tri-Fuel Diesel Electric LNG carriers from Samsung Heavy Industries Co., Ltd. in South Korea. The vessels are expected to be delivered in Q3 and Q4 2016, respectively, and upon delivery will commence firm seven-year charters with a subsidiary of BG Group plc. The company explains that due to the benefits accrued from building a series of ships, these vessels will have a lower delivered cost than the 2 vessels ordered in February


MISC Profit Down 29%

MISC Bhd reported that first quarter net profit dropped 29 percent on lower freight rates for its liner and petroleum divisions. The industry is expected to be either stable or soft because there are more ships in supply than what the market demands and the delay in scrapping old tonnage. Still, MISC's earnings should remain stable on long-term charters from the LNG, petroleum, offshore businesses and the turnaround of its heavy engineering activities.


RasGas Names Eighth LNG Ship

RasGas has named its eighth LNG ship Simaisma at a ceremony held at the Daewoo Shipbuilding and Marine Engineering Company, South Korea. RasGas has a long-term charter agreement with the Maran Gas Maritime Inc and Qatar Gas Transport Company, which owns the vessel. Under the terms of the time charter agreement, RasGas will charter the ship for a firm period of 20 years to deliver LNG from its existing and future facilities at Ras Laffan Industrial City (RLC) to its growing


CMA CGM Issues Statement to Thwart Rumors

Responding to information circulating, CMA CGM Group states that it has no short term plans to either purchase or long-term charter-in any vessels. The Group has a modern fleet of 408 ships, of which 92 are owned, that enable it to meet the current needs of its customers and provide them with end-to-end service around the world. In today’s economic environment, CMA CGM’s priorities are to reduce its debt and to strengthen its financial position.


Bangladesh’s First LNG Import Terminal in the Works

Excelerate Energy and Petrobangla in agreement for long-term FSRU charter and construction of LNG import facility Excelerate Energy and Petrobangla have reached agreement on terms for the development and operation of Bangladesh’s first LNG import terminal. The agreement includes the provision of one of Excelerate’s existing floating storage and regasification units (FSRU) under a 15-year long-term charter, as well as the design and construction of the facility


Crowley Manages Tankers for American Petroleum

The Settlement agreement recently approved by a U.S. Bankruptcy Court Judge in New York became effective July 28, clearing the way for an investor group led by The Blackstone Group to terminate their relationship with U.S. Shipping and to retain Crowley Maritime Corporation to manage five U.S.-flag petroleum tankers for the newly renamed company, American Petroleum Tankers LLC. The five tankers, two of which are in operation and three of which are due for delivery from shipbuilder NASSCO


Stena Bulk Strikes Deal with Neste Oil

Stena Bulk has sold 50 percent of the tanker Stena Arctica to the Finnish oil company Neste Oil, which will also operate the vessel on a 10-year charter from 1 January, 2007 – mainly to transport oil from Primorsk to the Finnish port Porvoo in the Baltic. The 117,100 DWT Stena Arctica was delivered at the end of 2005 from the shipyard Hyundai Heavy Industries in South Korea and is the world’s largest tanker with the highest ice class (1A Super) currently in service.


Euroseas Announces Charter Agreements for Container Ships

Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that subsidiaries of the Company have entered into one year time charterer extensions for two of its containership vessels, the M/V Ninos and the M/V Despina P. The M/V Ninos, a 1,169 teu, 1990 built feeder container ship, has extended its time charter for an additional one-year at a gross daily rate of


Navios Charter out Newbuild Capesize Vessel

Navios Maritime Partners L.P., owner and operator of dry cargo vessels, chartered out the Navios Joy, a newbuilding Capesize vessel for three years. The Navios Joy has been chartered out to an investment grade counterparty for three years at a rate of $19,000 net per day ($20,000 gross). The charterer has been granted an option to extend the charter for two optional years, the first at $22,325 (net) per day and the second at $25,650 (net) per day.


Ceremony Marks the Construction of 5 American Tankers

APT 1 Start of Construction Ceremony

  General Dynamics NASSCO and City of San Diego Mayor Kevin Faulconer today signaled the start of construction of five American Petroleum Tankers at a steel cutting ceremony for the first tanker, the APT-1, at the NASSCO shipyard in San Diego.


ABS to Class LNG-fueled Nordic Hamburg Containerships

Patrick Janssens: Photo ABS

Leading provider of classification services to the maritime and offshore industries, ABB, says it has  been chosen to class two LNG-fueled containerships to be built in China for German owner GNS Shipping/Nordic Hamburg. The 1,400 teu vessels will feature dual-fuel propulsion enabling them


New LNG Carrier Bunkers in Russia

LNG carrier Pskov: Photo GM&T

Gazprom Marketing & Trading’s (GM&T) says that its newly delivered LNG carrier “Pskov” has received bunkers (Heavy Fuel Oil and Marine Gas Oil) at the port of Nakhodka in the Primorskiy Region of Russia.


MOL & Viken in Shuttle Tanker Ownership J/V

Shuttle tanker: File picture

Mitsui O.S.K. Lines, Ltd. (MOL) says it has decided to establish a ship-owning joint venture with Norway's Viken Shipping AS  to participate in a shuttle tanker project. The joint company is called Viken MOL AS, and will be managed from Viken Shipping's office in Bergen.


Russia's Shipping Major Reports Strong 1H 2014

Tankship: Photo SCF

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014.   Highlights:


CMA CGM Continues Expansion, Confirms Profits

Photo: CMA CGM

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014.


Otto Marine Clinches Australia AHTS Contracts

AHTS Go Spica: Photo Otto Marine

Otto Marine says it has clinched AUD57-million worth of charter contracts in Australia for two of its large deep water AHTS vessels. Otto Marine Limited, which owns and operates a large fleet of offshore support vessels, with shipyard and other specialized offshore services


First Two Mooring Boats Launched for Port of Ras Laffan

Photo courtesy of Nakilat Damen Shipyards

Nakilat has celebrated the delivery of two 16-meter mooring boats built by shipbuilder Nakilat Damen Shipyards Qatar for towage operator Nakilat Svitzer Wijsmuller. The built-in-Qatar vessels will be operated at the Port of Ras Laffan. The two Stan Tug 1606 mooring boats


Major Drybulk Ship Operator Lowers 2014 Expectations

Bulk carrier: File photo

Danish shipping company D/S Norden, one of the biggest dry bulk shipping companies in the world, said it would not make a profit this year after posting a loss in the second quarter due to low freight rates and falling demand in Asia. The firm's loss before interest, tax


Hoegh LNG Partners Prices IPO

  Höegh LNG Partners LP  a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd., announced today the pricing of its initial public offering of 9,600,000 common units representing limited partner interests in the Partnership at $20.00 per unit


ISC Profit Slip in Q2 2014 but Pay Dividend

Jones Act bulk carrier: Image courtesy of ISC

International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,000 for the three months ended June 30, 2014. For the comparable three months ended June 30, 2013


Hornbeck Offshore Ride High on Q2 2014 Results

Offshore scenes: Image courtesy of Hornbeck

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts from the Company's future outlook: 2Q2014 Upstream revenue and EBITDA set new quarterly highs on the strength of fleet


Höegh LNG Partners Launch IPO

  Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,600,000 common units representing limited partner interests in


North Sea Atlantic Joins the Technip fleet

On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic. More than 200 guests from shipowner North Sea Shipping, ship charterer Technip and supply chain partners


Stanford Secures Long Term PSV Charter in Mexico

PSV Stanford Bateleur has secured a three-year contract with Mexiship in Mexico (Photo: Stanford Marine)

Stanford Marine announced today from its Dubai headquarters that it has secured a three-year contract for one of its 87-meter Platform Supply Vessels (PSV), Stanford Bateleur, in Mexico. Stanford Bateleur was awarded a long term contract with Mexiship in Mexico.






 
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