Archive

Teekay Inks Hummingbird FPSO Employment Extension

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

October 14, 2019 Bermuda-based shipping group Teekay Corporation has entered into an agreement with the Chestnut Joint Venture to extend the employment of the Hummingbird Spirit FPSO unit for three and a half years. Under the contract with the joint venture between Spirit Energy Ltd. and Dana Petroleum Ltd, Teekay’s Hummingbird would continue working on […]

VV: Growth of Large LNG Sector to Continue into 2020

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October 10, 2019 Positive developments in the large LNG sector are expected to continue throughout the rest of 2019 and into 2020, according to a report from VesselsValue. The sector is being driven by increasing demand as more countries prioritize LNG as an energy source, replacing oil and coal, combined with increasing supply as more […]

Teekay Shuttle Tankers Issues USD 125 Mn Green Bonds Due 2024

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October 10, 2019 Teekay Shuttle Tankers has placed USD 125 million senior unsecured green bonds due October 2024. The proceeds from the bond issue will be used in accordance with Teekay Shuttle Tankers’ green bond framework to partially fund four E-Shuttle newbuilds currently under construction and with planned deliveries in 2019 and 2021. SEB acted […]

DryShips Shareholders Vote for SPII Holdings Merger

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October 10, 2019 The shareholders of the Greek shipping company DryShips voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger with SPII Holdings. Under the deal, entered into on August 18, 2019, SPII, a company controlled by DryShips’ chairman and CEO, George Economou, would acquire the outstanding shares […]

Belships Reaches Deal to Sell Its Oldest Bulker

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October 8, 2019 Norwegian shipping company Belships has entered into an agreement for a bareboat charter and subsequent sale of its 50,000 dwt Supramax bulk carrier Beleast. Under the deal with Marti Shipping & Ship Management of Turkey, the company’s 2006-built vessel will enter the bareboat charter during the fourth quarter of 2019 and Belships […]

Eagle Bulk Secures USD 34 Mn Loan for Scrubbers

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October 8, 2019 The U.S.-based ship owner and operator Eagle Bulk Shipping has closed on a USD 34.3 million incremental term loan to be used for the installation of exhaust gas cleaning systems. The company’s subsidiary, Eagle Bulk Ultraco LLC, closed the loan under its existing five-year senior secured term loan facility, which bears an […]

K Line to Start Research on Shipping Market Using AI

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October 7, 2019 Japan’s shipping major K Line has agreed with Hiroshima University, the National Institute of Maritime, Port and Aviation Technology and Marubeni Corporation to jointly work on research and analysis of maritime logistics and shipping market conditions using artificial intelligence (AI). The company added that the purpose of this research is to estimate […]

AAL Expands Multipurpose Fleet with Four Ships

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October 3, 2019 Singapore-based shipping company AAL is expanding its multipurpose fleet with the addition of a number of Warnow-class (W-class) 33,271 dwt ‘mega-size’ vessels. A total of four vessels will join AAL’s fleet from October. Representing 133,000 dwt / 156,000 cbm of additional capacity, the new ships boost AAL’s operating tonnage to just below […]

Hapag-Lloyd Introduces New India Services amid Growing Demand

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September 27, 2019 German liner shipping company Hapag-Lloyd has launched two new services in India as it expects the country’s container market to grow further. Starting in October this year, the company will introduce the South East India – Europe Express (IEX) and the Middle East-India-Africa Express (MIAX). According to Hapag-Lloyd, IEX will provide the […]

MISC, Mitsubishi and NYK to Co-Own New LNG Carrier Duo

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Malaysian shipping group MISC Berhad has, through its subsidiary, signed an agreement with Mitsubishi Corporation and NYK to co-own two newbuild LNG carriers. Featuring a capacity of 174,000 cbm, each vessel will serve Diamond Gas International’s LNG carrier requirements worldwide. The units would be particularly deployed to carry LNG cargoes from U.S. and Canada on […]