Ship Finance International Limited, today announced that it is has agreed to sell the single hull VLCC Front Duchess to an unrelated third party for net sales proceeds of $54.5 million. Delivery to the new owner is expected to take place in January/February 2008, and Ship Finance will receive a net
Frontline Ltd. has agreed with Ship Finance International Limited to terminate the long term charter party between the companies for the single hull VLCC Front Duchess and Ship Finance has simultaneously sold the vessel.
Imtech N.V. (technical services provider in Europe) announces that it has acquired the Irish based Suir Engineering Limited. Imtech is taking over the entire issued share capital from its present shareholders. With 550 employees, Suir generated revenue of 63 million in the financial year ended on 31
Independent Canadian oil and gas production and exploration company TAG Oil Ltd. announced today that the Company has signed a letter of intent with New Zealand based Genesis Energy to sell its 15.1% interest in PEP 38738-D and PMP 38156-D containing the Cardiff deep gas prospect for a combination o
The world’s largest Alternative Maritime Power (AMP) vessel arrived in the Port of Los Angeles in September and dropped anchor in Berth 100, beneath the Vincent Thomas Bridge. Built in Shanghai for the China Shipping Container Line, Xin Ya Zhou (Chinese for New Asia) has the ability to turn off its
Malta has been famed for demonstrable acts of bravery over the centuries and none more so than when she is under siege. Whilst the aggressor today was only the wind, gusting up to 45 knots, there was a definite sense on the bridge of the Royal Malta Yacht Club this morning that the competitors in [&
Globus Maritime Limited, a marine transportation company that owns and operates Handymax and Panamax dry bulk ocean-going vessels, today announces that it has entered into a new time charter agreement with Korea Line Corporation, at a gross rate of US$66,000 per day, for a minimum of 24 to a maximum
Rakeen, one of the region’s most dynamic property developers and master planners, has announced that Al Marjan Island, a USD 1.8 billion man-made island development off the coast of Ras Al Khaimah, UAE, will be launched during Cityscape Dubai 2007 at the Dubai International Exhibition Centre from Oc
CMA CGM is pleased to announce the launch of a new line providing regular container shipping service between Dakar and Ziguinchor. At least once weekly, a 3,500-ton vessel, the ANAMCARA 3, will be transporting containers, trailers, trucks and various goods between Dakar and Ziguinchor. Transit time
Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and a provider of seaborne transportation for drybulk and containerized cargoes, announced today that it has declared a dividend of $0.29 per common share for the third quarter of 2007. The dividend is payable on November
Christensen Shipyards, the foremost builder of high quality certified composite motor yachts completes the re-sale of hull 032 to Mr. John Staluppi. Henry Luken co-owner in Christensen has sold hull 032 and has purchased hull 036. Hull 032 is currently under construction and will be delivered in Lat
Piracy attacks on shipping have increased by 14% in the first three quarters of this year, a report by the International Maritime Bureau says. The increase is in large part because of a jump in incidents off the west and east coasts of Africa – with Somalia again a key source of concern.
GeoPetro Resources Company today announced that its 12% owned Indonesian subsidiary Continental-GeoPetro (Bengara-II) Ltd. (‘CGB2’) has commenced drilling on the Punga #1 exploration well. The Punga #1 is the fourth well to be drilled as part of the 2007 drilling program for the Bengara-II Block, on
The State-owned Saigon Port (SP) and the Port of Singapore Authority (PSA) began construction on an international container terminal in the southern coast province of Ba Ria-Vung Tau last Friday. The joint venture (JV), the SP-PSA International Port, will serve Vietnam’s rapidly growing container tr
