October 18th, 20190Offshore driller Noble Corporation has secured new contracts for a drillship and a jackup drilling rig, according to the company's latest fleet status report. Apache has exercised two of three optional wells utilising 2014-built drillship Noble Sam Croft, extending the contract to March 2020. Additionally, Spirit Energy has...
October 18th, 20190The Port of Seattle has teamed up with a famous American IT name to try and develop maritime innovation among younger generations. The port is working with New York-headqaurtered coworking firm WeWork to launch Washington state’s first ever maritime startup accelerator. Ten chosen ventures will receive four months of mentorship...
October 17th, 20190Bob Burke led Ridgebury Tankers has taken advantage of the current hot market for VLCCs, sealing a deal for 2001-built VLCC trio , and . Brokers are reporting the sale at $98m en bloc, which is substantially higher than current valuations in the market for the vessels. VesselsValue places a market value of $66.59m on the trio, MSI...
October 14th, 20190One in five VLCCs in operation today face restrictions from US sanctions, according to data from Braemar ACM. Research carried out by the shipbroking house also shows that just over a sixth of the world’s suezmax fleet and 10% of the aframax/LR2 fleet face similar trading restrictions from Washington, something that has sparked the...
October 14th, 20191Salvage experts in the US have decided it’s too difficult to right and refloat the , which capsized five weeks ago in St Simons Sound in Georgia. Instead, an operation will be mounted to remove all of the ship and its contents in place. The pilot of the ship deliberately grounded the Golden Ray as a fire erupted shortly after it had...
October 10th, 20190Malaysia’s MISC has secured agreements with Exxon Mobil’s wholly-owned subsidiary, SeaRiver Maritime, for 15-year time charter contracts for two of its LNG carriers. The 174,000 cu m ships are currently under construction at Samsung Heavy Industries in South Korea for delivery in early 2023. MISC’s president Yee Yang Chien...
October 8th, 20190New York-listed shipowner International Seaways (INSW) has sold its 49.9% stake in its joint venture with Qatar Gas Transport Company (Nakilat) for $123m in cash. The joint venture, which is now 100% owned by Nakilat, owns Q-Flex LNG carriers Al Gattara, Al Gharrafa, Al Hamla and Tembek. The four vessels are valued at a total of...
October 8th, 20190US dry bulk vessel operator Eagle Bulk has secured a $34.3m incremental term loan under its existing five-year senior secured term loan facility maturing in 2024, from existing lenders ABN AMRO, Credit Agricole Corporate and Investment Bank (Credit Agricole), Skandinaviska Enskilda Banken AB (SEB), DNB Bank ASA (DNB), Danish Ship...
October 4th, 20190The US sanctions on tankers belonging to state-backed Cosco and Kunlun have created a fleet of “untouchable” VLCCs, the president of Intertanko has warned, sending rates ever closer to six-digit territory. Washington slapped sanctions on the two Chinese firms late last month for their handling of Iranian crude oil, sparking...
October 2nd, 20190One of shipping’s best known analysts is back with his own firm. Mike Webber, who resigned from Wells Fargo Securities in July, has launched Webber Research & Advisory, an independent investment research firm focused on global export infrastructure. Webber became well known this decade by ranking US-listed shipping firms by...
