Archive

Diana’s Astarte to Continue Working for Glencore

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

October 18, 2018 Athens-based dry bulk specialist Diana Shipping has agreed to extend the present time charter contract for one of its Kamsarmax dry bulk vessels, the M/V Astarte. As informed, the 81,513 dwt ship will continue working for Glencore Agriculture from Rotterdam. The gross charter rate is USD 14,250 per day for a period […]

Stena Bulk Joins the Scrubber Ordering Wave

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

October 16, 2018 Swedish tanker shipping company Stena Bulk has signed a turnkey exhaust gas scrubber solution agreement with Chinese Bluesoul to equip its Suezmax and IMOIIMAX fleets. In total, Stena Bulk will equip 15 vessels with scrubbers and have an additional 6 options for installation prior to 2020, the enforcement date of the global […]

ONE Expects Deeper Loss amid Teething Problems

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

October 16, 2018 Newly-launched Ocean Network Express (ONE) expects to report much wider loss than previously estimated, the company said in a downgraded business forecast for the first half and full year. Specifically, for the first half of the fiscal year 2018, covering the period from April to September 2018, ONE expects its loss to […]

Scorpio Agrees Scrubber Deals for Tanker, Bulker Fleets

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

October 16, 2018 Scorpio Bulkers and Scorpio Tankers, units of Scorpio Shipping Group, have signed letters of intent (LOIs) for the purchase and installation of scrubbers on the companies’ vessels.   The LOIs were inked with suppliers, engineering firms, and ship repair facilities and are subject the execution of definitive documentation, according to the two companies. Following […]

OOCL to Launch Bunker Recovery Surcharge as Its Switches to Low Sulphur Fuel

Posted By Tony Sanchez / Cargo Sea Line, Uncategorized / 0 Comments

October 15, 2018 Hong Kong-based Orient Overseas Container Line (OOCL) plans to meet the new sulphur cap regulations by switching to 0.5 percent low sulphur fuel. The transition to LSF of the company’s entire fleet will start in the second half of 2019, the company said. As a result, the container carrier expects its fuel […]

Flex LNG to Buy Five LNG Newbuildings

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October 11, 2018 Oslo-listed ship owner and operator Flex LNG is looking to acquire a batch of five LNG newbuildings from affiliates of Geveran Trading, the company’s largest shareholder. The vessels include three high-end MEGI LNG carriers currently under construction at Daewoo Shipbuilding and Marine Engineering (DSME) with scheduled delivery in 2020 and two high-end X-DF LNG carriers […]

Navios Acquisition, Navios Midstream Wrap Up Merger Deal

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

October 8, 2018 Tanker owner Navios Acquisition has entered into a definitive mergeragreement with Navios Midstream. Under the deal, Navios Acquisition will acquire all of the publicly held units of Navios Midstream in exchange for shares. The transaction is expected to simplify the capital and organizational structure, increase trading liquidity and float of the Navios Acquisition common stock, […]

Grimaldi Poised for New USD 1.5 Bn Investment

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

October 8, 2018 Italian shipping major Grimaldi Group is embarking on a new investment project that is likely to include multipurpose vessels and RoPax ferries. The plans were revealed in Athens during the XXII Euromed Convention From Land to Sea, the international summit organized yearly by the Grimaldi Group. Speaking at the event, the company’s […]

GasLog Partners Sells USD 53 Mn Worth of Shares to Tortoise

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

September 27, 2018 Owner and operator of LNG carriers GasLog Partners has agreed to sell 2,250,000 common units to funds managed by Tortoise Capital Advisors (Tortoise) for gross proceeds of USD 53.1 million. The partnership plans to use the net proceeds from the sale for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures […]

Equinor Inks Deal for Two Shuttle Tanker Newbuilds

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September 27, 2018 Norwegian oil major Equinor, formerly known as Statoil, has entered into contracts for two newbuilt shuttle tankers with the compatriot shipowner Knutsen NYK Offshore Tankers AS (Knutsen). The tankers will be built at Hyundai Heavy Industries in South Korea. The shuttle tankers are intended for the Roncador field, the third largest producing field […]