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Contracts

Global Ship Lease Extends TC with CMA CGM

Photo: 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,

Diana Shipping Enters into TC Contract with Uniper

Photo: Diana Shipping Inc.

 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,

Nordic American Tankers Signs TC with Cepsa

Photo: Nordic American Tankers

 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

SBM Offshore Hands over FPSO Turritella to Shell

Turritella (Photo: Shell)

SBM Offshore said it has completed the transaction related to the sale of floating production storage and offloading (FPSO) vessel Turritella to Shell E and P Offshore Services B.V.   Shell exercised an option to purchase the FPSO from SBM Offshore in summer 2017.    The Turritella FPSO is contracted

Shell Announces Plan for Penguins Filed Redevelopment

Photo: Sevan Marine ASA

Shell announced the final investment decision for the Penguins field redevelopment project in the U.K. sector, which includes the construction of a new-build Sevan Marine designed cylindrical floating production, storage and offloading (FPSO) vessel.  The Penguins field is in 165 metres of water,

Crowley Orders ATB at Bollinger

(Image: Crowley)

Crowley Fuels LLC has signed a contract with Bollinger Shipyards for the construction of a new 100,000-barrel-capacity articulated tug-barge (ATB) to transport multiple clean petroleum products in the Alaska market.   The Alaska-class vessel will be built at Bollinger Marine Fabricators Shipyard, in Amelia, La.

Trac-Wheels Signs Contract for 10 Kalmar Tractors

 TL2 terminal tractor. Photo: Kalmar

 Kalmar, part of Cargotec, has signed a contract with  Malaysia-based supply and installation company Trac-Wheels (M) Sdn Bhd, for an order of ten units of Kalmar TL2 terminal tractor.    The order was booked into Cargotec's 2017 fourth quarter order intake and it is scheduled for delivery in the second quarter of 2018.

Jumbo Orders LNG-powered Heavy Lift Ship

(Image: Ulstein Design & Solutions B.V.)

Dutch transportation and installation contractor Jumbo said it has signed a Letter of Intent (LOI) with shipbuilder China Merchants Industry Holdings (CMIH) for the construction of a new heavy lift crane vessel (HLCV) scheduled for delivery in the first quarter of 2020.   The DP2 vessel will feature

World Seaborne Coal Trade Up in 2017

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

World coal seaborne trade increased by 1.5 percent last year due to a recovery in output in producer countries such as the United States, Russia and China and an accompanying rise in export activity, German coal importers lobby VDKI said on Friday.   VDKI (Verein der Kohlenimporteure), whose 70 member companies trade hard coal across the world,

Drone Wars: French Navy Examines Cutting-edge Tech

(Image: Naval Group)

Defense technology company Naval Group and helicopter manufacturer Airbus Helicopters will together lead an effort to develop warship based aerial drones for the French Navy.   The French companies were recently contracted by the French Directorate General of Armaments (DGA) to perform a “de-risking”

Malaysia to Pay up to $70 Mln if MH370 is Found

(Photo: Ocean Infinity)

Malaysia signed a deal on Wednesday to pay a U.S. seabed exploration firm up to $70 million if it finds the missing Malaysia Airlines aircraft MH370 within 90 days of embarking on a new search in the Southern Indian ocean.   The disappearance of the aircraft en route from Kuala Lumpur to Beijing in

Concordia Maritime Charters Two More MR Vessels

Image: Concordia Maritime

 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

TEN Sells, Leaseback Two Suezmax Tankers

Image: Tsakos Energy Navigation

 Greece-based Tsakos Energy Navigation (TEN)  has announced that it has sold for $65.2 million gross, through a five-year sale and leaseback transaction, the 2005-built Suezmax tankers Eurochampion 2004 and Euronike.    The sale proceeds have been used to reduce debt and add $16.0 million of cash to TEN’s balance sheet.

Andreas Silcher Negotiates LNG Carrier Contracts

Andreas Silcher. Photo: Haynes and Boone

 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

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