DeepOcean wins nine months of subsea work with Equinor

Equinor has hired DeepOcean to provide subsea services for its assets in Norway next year, starting in the first quarter. During the nine-month contract, the Norwegian subsea services firm will perform inspection, repair and maintenance (IRM) work at Equinor’s assets on Source: http://www.tradewindsnews.com

December 6, 2019
Read More >>

Bahri Chemicals set to join Maersk Tankers and Cargill MR pool

Saudi owner Bahri Chemicals has become the latest company to join the Cargill Maersk MR pool, TradeWinds has learnt. The Dubai-headquartered owner will contribute four vessels to the pool – Bahri Rose, Bahri Tulip, Bahri Jasmine and Bahri Iris – which will begin being delivered from January 2020. The Danish tanker owner is yet to release an official statement confirming the deal, but had posted confirmation of the tie-up via…

December 5, 2019
Read More >>

Dutch sign on to French-led Strait of Hormuz mission

The Netherlands is joining in with the French in their shipping security mission in the Strait of Hormuz. The Dutch government has confirmed that the frigate Zr Ms De Ruyter and its onboard helicopter would be joining in the French-initiated, European-led initiative known as the EMASOH from January 2020 through June. “Tensions in the [Middle East] Gulf region have risen steadily higher in recent months,” the government said in a…

December 4, 2019
Read More >>

Diana Shipping expects to make $7m from two new charters

Diana Shipping is looking to become several million dollars richer from two fixtures to two Asian shipping companies. The Simeon Palios-led bulker owner has fixed 82,117-dwt kamsarmax Myrsini (built 2010) to Hong Kong’s Asuca Shipping for 13 months to 15 Source: http://www.tradewindsnews.com

December 3, 2019
Read More >>

Havyard strikes agreement with lenders for embattled shipyard

Havyard Ship Technology (HST) has reached an agreement with clients and lenders that should help the embattled shipyard secure its future and complete its current orderbook. “HST has now reached agreements with the shipowners who have vessels for outfitting at the shipyard, as well as GIEK [The Norwegian Export Credit Guarantee Agency] and involved banks, which ensures completion and delivery of such vessels,” its parent Havyard Group said on Tuesday….

December 3, 2019
Read More >>

Quiana fails to appeal arbitration award despite charterer owing hire

A UK judge has ruled a Greek shipowner had no right to withdraw a bulker from a charter deal despite the charterer owing hire money. Quiana Navigation was attempting to overturn a partial final arbitration award in March in favour of Pacific Gulf Shipping (Singapore). The row involved a 2017 agreement for the 63,000-dwt Caravos Liberty (built 2013), operated by Iason Hellenic, at $9,000 per day. The case revolved around…

December 3, 2019
Read More >>

Diana Shipping profit shrinks along with fleet

Diana Shipping has reported lower profit for the third quarter on the back of a downsized fleet and lower freight revenue. The New York-listed bulker owner posted a modest $1.3m profit for the three-month period, down from $14.8m last year. Net income attributed Source: http://www.tradewindsnews.com

December 2, 2019
Read More >>

Global Ship Lease issues $4m more in notes to underwriters

Global Ship Lease (GSL) underwriters have exercised the full option on some unsecured notes, bringing the total offer to $29.7m after paying underwriting discounts, commissions and offering expenses. The Ian Webber-led company announced Monday that it has issued an additional Source: http://www.tradewindsnews.com

December 2, 2019
Read More >>

Havyard fires chief executive as group bleeds money

Havyard Group has terminated Geir Johan Bakke’s employment as chief executive “with immediate effect” , following huge losses sustained by its shipbuilding activities. Bakke has worked for the Oslo-listed group for 18 years and has been chief executive since 2004. Gunnar Larsen, Havyard’s senior Source: http://www.tradewindsnews.com

December 2, 2019
Read More >>