In its summary of interim report Q3 2011, Nordic Tankers said that in the third quarter of 2011 the time charter equivalent (TCE) revenue dropped back to the low levels of the first quarter of 2011. The main reason was the continued weak freight rates…
Danish shipping company D/S Norden upgraded earnings guidance for 2011, saying its dry-bulk business gained market share and it saw prospects for a solid fourth quarter.- NORDEN’s operating earnings (EBITDA) in the third quarter 2011 were $36m…
Nordic American Tankers Limited (NAT) has taken delivery of its second suezmax newbuilding tanker of 158,000 deadweight tons built at Samsung Heavy Industries Co., Ltd., South Korea. The Nordic Zenith was delivered to the Company November 8…
D/S NORDEN A/S selected the Norwegian-based Jotron Consultas AS as their future provider of fleet management software. The two parties have signed an agreement which includes rollout of latest v.4 of the Consultas Fleet Management software suite for fleet and office…
According to Bloomberg report, Maersk Tankers, the oil and gas shipping unit of A.P. Moeller-Maersk A/S, has secured employment for about 13%of its fleet’s earning days next year, compared with 24 percent for the remainder of 2011. (Bloomberg)
Vessel operating costs are expected to rise by 3.8% in 2011 and by 3.7% in 2012, with lube expenditure and crew costs identified as the categories most likely to produce the highest levels of increase, according to a new survey by international accountant and shipping consultant Moore Stephens…
EXMAR NV today gave its trading update for the 3Q 2011, numbers which show broad improvement in shipping rates and prospects. The operating result (EBIT) of the LPG fleet in the third quarter was $2.3 million (compared to $1.8 million for the third quarter of 2010)…
Scorpio Tankers Inc. has chartered-in a 2006 built LR2 product tanker (106,003 DWT), the Khawr Aladid. The vessel will be chartered-in for six months at $12,000 per day, and Scorpio Tankers has options to extend the charter for a period up to two years from delivery at $13…
KOTC received its fourth giant oil tanker of a capacity of around 2.1 million barrels, from South Korea's Daewoo Shipbuilding and Marine Engineering Co. Al-Rigga, the last of a total of four tankers ordered from the South Korean firm carries 320…
FMT Industries, LLC, A Florida Marine Transporters Affiliate, Signs Contract to Build Four 30,000 Barrel Fuel Barges with Trinity Offshore, LLC. Order Indicates Florida Marine’s Ongoing Commitment to Customers.FMT Industries, LLC—an affiliate of Florida Marine Transporters…
Odfjell entered into a contract for the purchase of MT Holly Galaxy, a 19,975 dwt chemical tanker (IMO II/III) with 22 stainless steel cargo tanks, built in 2006 at Fukuoka Shipbuilding in Japan. The vessel will be delivered in December 2011 and shall be traded regionally in South America…
On the 15th of August M/T Marilee LR1 Ice Class 1A, successfully completed her first Northern Sea Route Passage, safely escorted by Rosatomflot's nuclear ice breaker Vaigach. The savings compared to a voyage through Suez were 18 days and…
Greek ship management company Almi Tankers S.A. is set to establish itself as a market front runner with the new ultralong-stroke G-type engine tailor-made for Very Large Crude Carriers.Athens-based ship management company Almi Tankers S…
Crude Carriers Corp. (NYSE: CRU) announced that, at a special meeting of Crude shareholders held today in Piraeus, Greece, its shareholders have approved the proposal to adopt the merger agreement dated May 5, 2011 providing for theacquisition of Crude by Capital Product Partners L…
According to a report on www.UPI.com, an oil tanker left the Libyan port of Mellitah and was headed to Cyprus without loading its cargo.With Libya now in the hands of a new government, oil companies are coming in with high expectations, as…
