Danish tanker owner and operator Maersk Tankers is set to add 11 ships to its managed fleet in a deal with BP Shipping and ICBC Financial Leasing.Under the terms of the agreement, Maersk Tankers will take each vessel from the owner under a bare-boat charter arrangement, which it will then hire out to BP under a time charter deal for a period of three years.
Dry bulk carrier owner and operator Oldendorff Carriers has signed a research agreement with the Massachusetts Institute of Technology's (MIT) Center for Bits and Atoms (CBA) to make its vessels more green and economical.Oldendorff, together with CBA and its campus collaborators including MIT's Sea Grant Program
Japanese companies have decided to proceed with the deepwater floating production, storage, and offloading system (FPSO) charter project for the Petrobras-operated Búzios pre-salt oil field located offshore Brazil.MODEC, Mitsui & Co., Mitsui O.S.K. Lines (MOL), and Marubeni Corporation have agreed that Mitsui, MOL
China Merchants Heavy Industry has delivered an expedition cruise vessel to SunStone Ships, the first of its next-genn INFINITY-class vessel and perhaps more significantly China's firm entrance into the cruise ship building sector.The arrangement to bring this ship from drawing board to delivery slip is the culmination of marrying European cruise design and quality with Chinese ship-building
Japanese shipping gaint Nippon Yusen Kabushiki Kaisha (NYK) has signed a new long-term contract with Total Gas & Power Chartering Limited (TGPCL), a subsidiary of Total, a leading oil and energy company headquartered in France.The contract calls for TGPCL to charter from NYK a newly built liquefied natural gas (LNG) carrier that will be built by Samsung Heavy Industries Co. Ltd.
Vessel owners rarely carry cargo for their own account. More commonly by far, a vessel owner will charter its vessel to another party to carry their (or their sub-charterer’s) cargo. The contracts can vary widely – from voyage charters or contracts of affreightment to time charters to negotiable bills of lading (not to mention the more complex arrangements that one often sees for container
ExxonMobil Asia Pacific has signed a two-year time charter agreement with Singapore-based Sinanju Tankers Holdings Pte Ltd to lease Singapore's first liquefied natural gas (LNG) powered bunker tanker, Sinanju said in an statement on Friday.The 7,990 deadweight tonnage (dwt) newbuild will be the first LNG bunker tanker for Singapore and Sinanju and will deliver ExxonMobil's new Engineered Marine
Norway-based floating LNG giant Höegh LNG has signed a time charter contract for a floating storage and regasification unit (FSRU) Höegh Galleon with Cheniere Marketing International.The time charter commences in September 2019 after the delivery of the unit, Höegh LNG’s tenth, from Samsung Heavy Industries Co., Ltd.
Norway-based ship owning company Ocean Yield ASA has taken delivery of the very large crude carriers (VLCC) Nissos Despotiko.The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the second in a series of four VLCCs that will be delivered to the Company in 2019.
The international law firm Watson Farley & Williams (WFW) advised Bremen-based Breakbulk shipping line Zeaborn Group (ZEABORN) on its acquisition of Claus-Peter Offen Tankschiffreederei (CPO Tankers).ZEABORN acquired CPO Tankschiffreederei from the Offen Group, which specialises in the management of oil and product tankers.
Neo-Panamax container vessels experienced increased activity during the first quarter of 2019, compared to the fourth quarter of 2018, said Capital Product Partners.While charter rates for feeder and panamax vessels remained relatively flat due to, among other things, the overhang of idle tonnage, charter rates for Neo-panamax vessels, especially 8,000 TEU designs or larger, saw marked increases
Crew members from Coast Guard Station New London rescued two people after they abandoned their sinking fishing vessel near Fishers Island, New York, Sunday morning.At approximately 7:30 a.m., watch standers at Sector Long Island Sound received a radio call from the crew of a 55-foot commercial fishing vessel stating their boat was taking on water in one of their fish holds.