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Vessel Purchase

Teekay Offshore Signs Brazil Shuttle Tanker Contract

Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) TOO -0.92% , announced today that it has entered into a new long-term contract with a subsidiary of BG Group plc (BG) to provide shuttle tanker services in Brazil.   The contract with BG will be serviced by four Suezmax-size DP2 shuttle tanker newbuildings to be constructed by Samsung Heavy Industries in South Korea. Upon delivery in mid- to late-2013, the vessels will commence operations under 10-year time-charters. The contract with BG also includes certain extension options and vessel purchase options.   "These strategic new long-term shuttle tanker time-charters with BG further strengthen the Partnership's position in the fast-growing Brazilian offshore market," commented Peter Evensen, Chief Executive Officer of Teekay Offshore GP L.L.C. "In addition to increasing our Brazil based shuttle tanker fleet size by approximately 30 percent, this transaction is expected to be accretive upon delivery of the vessels and will provide Teekay Offshore with additional customer diversification and cash flow stability."


Excel Maritime Fleet Expansion Update

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator and provider of worldwide seaborne transportation services for dry bulk cargoes, announced the delivery of a newbuild Capesize vessel as well as the cancellation of a vessel purchase agreement. Excel Maritime has taken delivery of the newbuild Capesize vessel M/V Sandra on December 26, 2008 from the Imabari Shipyard in Japan. The vessel has a carrying capacity of 180


Shipping industry market trends for 2014 - John Nikolaou

John Nikolaou

Athens based, Financial Analyst John Nikolaou provides an insight into the recent market trends of the shipping industry:  Greek shipowners have returned to the top of the global shipping economy by controlling a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. According to Clarksons, this global lead illustrates that Greeks operate much bigger ships because they own 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese.


New Golden Gate Ferry Enters Service on Larkspur

The first of two vessels purchased by the Golden Gate Bridge, Highway and Transportation District (GGBHTD) from Washington State Ferry in January 2009 has been completely refurbished and is entering service today, May 16, on the Larkspur-San Francisco Route. The two Washington State Ferry vessels, now named the M.V. Golden Gate (formerly the Chinook) and the M.V. Napa (formerly the Snohomish) were purchased for $2 million each and have a refurbishment budget of approximately $10 million each


Financial Prudence the Key to Bunker Trade Success

The importance of balancing the numbers for a successful bunker fuel trading operation will be stressed by GAC's Nicholas Browne when he shares his experience at the Lloyds Maritime Academy Bunker Management School this week. In his speech, the Global Director of GAC Bunker Fuels will outline what bunker traders need to keep in mind making the judgment calls they face every day. What are the criteria for granting credit to a new customer? How can they minimize their risk exposure? 


Panamax Dry Bulker Delivered to STX Pan Ocean

Bulk Ship STX Horizon: Photo credit STX Pan Ocean

STX Pan Ocean takes over the 83,000 dwt class Panamax, 'STX Horizon', its first new-build delivery of the year. Having concluded strategic contracts for long-term transportation with domestic and international shippers including POSCO, Hyundai-Steel, KEPCO subsidiaries, Vale and Fibria in Brazil, STX Horizon will be added to the the owner's list of vessels to service these various contracts. A company official said: “Although current dry bulk shipping market is depressed


ABS NS Software Helps Secunda Marine

ABS Nautical Systems (ABS NS) has taken the traditional purchasing relationship and automated it to provide shipowners and operators with a more efficient way of obtaining competitive bids and more responsive service with its eProcurement product, an extension of its Purchasing & Inventory software module. Nova Scotia-based Secunda Marine Services Limited (Secunda) is the latest operator to implement ABS NS eProcurement as part of its overall fleet management strategy.


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


NewLead Holdings Buys Vessels

NewLead Holdings Ltd. (NASDAQ:NEWL) announced that it has signed a Stock Purchase Agreement providing for the purchase of two Kamsarmaxes for an aggregate purchase price of $112.7m and signed a Memorandum of Agreement for the sale of the product tanker Chinook for $8.5m. “NewLead's fleet continues to transform, becoming younger and more versatile," said Michael S. Zolotas, President and Chief Executive Officer


Zim to Buy Eight Ships for $1.36B

Israel Corp. subsidiary Zim Integrated Shipping Services Ltd. said it had placed an order to purchase eight mega container ships from the South Korea’s shipyard Samsung Heavy Industries Co. Ltd. The deal, valued at $1.37b, ($170m each) comes six weeks after Zim Integrated Shipping Services Ltd. announced its plan to upgrade its container vessels fleet. The company had ordered eight TEU 12,600 mega containership for delivery by July 2012


Hyde Guardian BWTS for Edison Chouest Fleet

ECO’s Kirt Chouest, a 288′ multipurpose supply vessel (Photo courtesy of Edison Chouest Offshore)

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, has been selected as a strategic supply partner for ballast water treatment (BWT) systems by Edison Chouest Offshore (ECO) for use on ECO’s fleet of vessels.


NewLead Takes Delivery of 3rd Eco-Type Bulker

Newlead Castellano, a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLeads owned fleet on September 16, 2014.

  NewLead Holdings Ltd.announced today that the "Newlead Castellano", a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLead's owned fleet on September 16, 2014. The Newlead Castellano is trading on the spot market and is expected to generate


MN 100: Superior-Lidgerwood-Mundy Corporation

SLM comm_barge_haul-1 EH.jpg

302 Grand Avenue Superior, Wisconsin 54880 E-mail: stenerelli@lidgerwood.com Website: lidgerwood.com President: Kent Phillips Number of employees: 35 The Company: With more than 150 years of experience, Superior-Lidgerwood-Mundy (SLM) is a leading U.S


REL to Supply Deep Ocean Mooring Winch System to NOC

Photo courtesy of REL

Romica Engineering Ltd (REL) have signed a contract with the U.K.’s National Oceanography Center (NOC) to provide a containerized deep ocean mooring winch system. This 4,000m capacity winch system, with a hydraulic power unit, will be used at sea for various large mooring operations


ONR Funds UW Oceanographic R/V Refit Contract

Thomas G. Thompson : Photo UW

The US Department of Defense informs that the University of Washington (UW), Seattle, Washington, is being awarded a $12,776,050 cost reimbursement contract for mid-life re-fit overhaul of Ocean Class Oceanographic research vessel 'Thomas G. Thompson' (AGOR 23).


ST Engineering Injects Capital into Leeboy India

  Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics Pte Ltd (SDGK)


Global Ship Lease to Acquire Containership

Global Ship Lease, Inc. has  announced  that it has agreed to acquire a 8,063 TEU containership from a leading container liner company for a purchase price of $55 million. The 2005-built vessel is expected to deliver in the fourth quarter of 2014


Seacure Higher Flow-Rate BWTS Certified by BSH

Ballast water discharge: File photo

Evoqua inform that the Federal Maritime and Hydrographic Agency of Germany (Bundesamt für Seeschifffahrt und Hydrographie- BSH), which previously granted the Evoqua SeaCURE Ballast Water Management (BWT) system type approval, has now certified the SeaCURE system to operate in volumes from


Mnazi Bay Gas Deal Signed

Mnazi Bay and Msimbati fields in Southern Tanzania

  Maurel & Prom announced that, along with Mnazi Bay license partners Wentworth and Tanzania Petroleum Development Corporation (TPDC), it has signed a gas sales and purchase agreement with TPDC for the long-term sale of natural gas from the Mnazi Bay and Msimbati fields in southern


Yang Ming Extends Charter Terms for Five 14,000-TEU Ships

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  Seaspan Corporation announced today that Yang Ming Marine Transport Corp., has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option


Brazil's Óleo e Gas, OSX Renegotiate FPSO Contract

Óleo e Gas Participações SA, the Brazilian oil producer that is under bankruptcy protection, and former sister company OSX Brasil SA completed on Friday a plan to renegotiate contractual terms related to the rental of a ship.


Post-Panamax Ship Delivered to Diana Containerships

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it took delivery of the m/v YM March, a 2004-built Post-Panamax container vessel of 5


GNS Launches Free E-Navigation Solutions

At SMM in Hamburg, Germany this week, Global Navigation Solutions (GNS), the maritime services group announces the launch of (i) its new free Essentials package, as well as (ii) an upgrade to the Voyager Planning Station dashboard, and (iii) a new bundle purchasing option. Essentials Package


DHT Holdings to Acquire Samco Shipholding

Photo: Samco Shipholding

DHT Holdings, Inc. announced today that it has entered into an agreement to acquire all the outstanding shares of Samco Shipholding Pte. Ltd., a private company incorporated under the laws of the Republic of Singapore. Samco owns and operates a fleet of seven very large crude oil tankers (VLCCs)


GNS Launches First Vessel Management System

At SMM in Hamburg, Germany this week, Global Navigation Solutions (GNS), the maritime services group, is launching its Vessel Management Service (VMS), the first integrated management system for total navigation compliance, to give shore-based ship managers more control of navigation compliance






 
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