Nordic Tankers, WOMAR establish “Nordic Womar” JV
Nordic Tankers A/S and WOMAR Logistics Pte. Ltd. have reached an agreement to establish a jointly owned independent pool management company with the name of “Nordic Womar”.
Gladding-Hearn Starts Building for service to Dry Tortugas
Having recently signed a new 10-year contract with the National Park Service (NPS) for passenger service between Key West, Fla., and the Dry Tortugas National Park…
GE38 Looking to Take to the Sea
GE Aviation is planning to leverage the modern technology and performance of the GE38 into an engine option for marine applications. The GE38 is one of the most technologically advanced turboshaft engine in its class, and it has been selected to power the Sikorsky CH-53K helicopter in development for the United States Marine Corps. Compared to its T64 turboshaft engine predecessor, the GE38 provides 57% more power within the same envelope, 18% better fuel consumption, and has 63% few parts.
Singapore Stocks May Rise, Europe Debt Woes Ease
According to a Jan. 13 report from Reuters, shares of Chinese shipbuilding firm Yangzijiang may be in focus after it said on Wednesday it clinched 15 shipbuilding…
Ship Orders May Jump 4%, Fuel Demand Increases
A Jan. 13 report from Bloomberg said global shipbuilding orders may rise four percent this year to the highest since 2008 as economic recovery drives demand for consumer goods and fuel…
Supertanker Rates May Jump Next Week
According to a report from Bloomberg, the chartering manager of Dynacom Tankers Management Ltd., an Athens-based operator of supertankers, told Bloomberg that vessel…
Vela Adds Double-Hulled Crude Tanker
According to a report from Bloomberg, Saudi Aramco, the world’s largest state-owned oil company, said a new very large crude carrier entered service with its tanker…
Daewoo Expects 18% Jump in Offshore Orders
According to a report from Bloomberg, Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipyard, expects orders for drilling vessels and offshore…
Australia: Shipping Rates Poised to Plunge 31%
According to a report from Bloomberg, a 20-mile-long line of commodity carriers off Queensland, suffering its worst floods in a half- century, means less income…
Towboats Still in Demand
In spite of the economic gloom of 2010, the demand for solid reliable towboats for the U.S. inland waterways has continued. An example of this is Higman Marine Services’ latest addition. The final month of 2010 saw yet another towboat added to the fleet of their subsidiary Higman Barge Lines. As with many earlier boats The M/V Baffin Bay was built by Hope Services of Dulac Louisiana. But this boat is one of the newly designed and larger 78 by 34-ft vessels.
Costamare Declares Quarterly Dividend
Costamare Inc. (NYSE: CMRE), owners and providers of containerships for charter, announced that the company's board of directors declared a dividend for the fourth quarter ended December 31…
SCI Exceeds Fundraising Expectations, Awards Industry Leaders
SCI awarded three honorees at the River Bell Awards Luncheon on December 9, 2010. Stephen Little of Crounse Corporation (River Bell Award), Buck Lay (River Legend Award), and the Rev.
Euroseas Charter Agreement for M/V Aristides N P
M/V Aristides N P, a 69,268 dwt, 1993 built Panamax bulk carrier, has been chartered until May 2012 at a gross daily rate of $14,950. The charter will commence upon…
UK to Review North Sea Drilling Rules
According to a report from Reuters, Britain said on Jan. 12 it would review its regulations covering offshore oil and gas drilling in the North Sea following the publication of a U.S.
MES Delivers M/V Fortune Wing
Mitsui Engineering & Shipbuilding Co., Ltd., (MES) completed and delivered a 56,000 dwt type bulk carrier M/V Fortune Wing (MES Hull No. 1759) at its Tamano Works on 12th January, 2011 to White Citron Shipping S.A., Panama. This vessel is a handy-max type bulk carrier of 56,000 dwt with a huge cargo hold capacity over 70,000 m3 and marks the 116th ship of its series. This 56,000 dwt type bulk carrier series of MES is widely called Mitsui’s 56.
BASS Sells Out of Star Information Systems
BASS Software Ltd., global provider of software for fleet and rig management, will use the financial resources it freed up after selling itself out of Star Information…
This Day in U.S. Coast Guard History – January 13
1853- The ship Cornelius Grinnell grounded in a heavy surf off Squan Beach New Jersey. A surf car was used to rescue all 234 persons on board. 1925- Alaskan Game Law enforced by Coast Guard.
This Day in U.S. Naval History – January 13
1865 - Amphibious attack on Fort Fisher, NC 1964 - USS Manley evacuates 54 American and 36 allied nationals after Zanzibar government is overthrown (Source: Navy News Service)
Star Bulk: Financing for Cape Size Newbuild
Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that debt finance had been agreed for a pair of Capesize newbuildings.The Company signed commitment letters with…
Diana Shipping Time Charter for M/V Melite
Diana Shipping Inc. charter rate of US$16,500 per day, minus 5% commission paid to third parties, for a period of minimum twenty-three (23) to maximum twenty-five (25) months.
