Tag: charter
The Sea Cargo Charter expands its scope to accelerate shipping’s decarbonization
The Sea Cargo Charter (SCC), a global framework for aligning chartering activities with responsible environmental behaviour to promote international shipping’s decarbonisation, is expanding its scope four years after its inception. With 37 signatories already on board, this expansion aims to increase the initiative’s impact on transparency and shipping decarbonisation across the entire industry by allowing…
MOL and Petrobras signed a CTV Time Charter Contract and MoU to Start Negotiations on Newbuilding CTV- Reducing CO2 Emissions and Costs Offloading Crude Oil from Sub-bed Oil Fields
Mitsui O.S.K. Lines, Ltd. announced that its wholly owned subsidiary, SeaLoading Holding AS, which owns and operates cargo transfer vessels (CTVs) , has signed a charter contract for the CTV SeaLoader 2 with Petroleo Brasileiro S.A. (Petrobras), a Brazilian state-owned oil company. The two companies have also decided to enter into negotiations for a new…
“K” LINE enters into charter contracts with Northern Lights for third liquefied CO2 vessels
Yesterday, Northern Lights JV DA and Kawasaki Kisen Kaisha, Ltd. (“K” LINE) signed Bare Boat Charter and Time Charter contracts for the management of the third CO2 ship. This follows the formerly signed contracts for managing the first two 7,500 m3 liquefied CO2 ships*1, in Northern Lights’ four ship fleet, that will be delivered in…
MOL Signs Time Charter Contract with Yara, World’s Largest Nitrogen Fertilizer Manufacturer, for Ammonia Carrier
Mitsui O.S.K. Lines, Ltd. announced the signing of a time charter contract for the ammonia carrier Green Pioneer with Yara Clean Ammonia Switzerland SA (YCA Switzerland), a group company of Yara International ASA (Yara; CEO: Svein Tore Holsether, Headquarters: Oslo Norway), the world’s largest nitrogen fertilizer manufacturer. The vessel was delivered on December 25,2023 and…
Sea Cargo Charter to align with new emission goals
The Sea Cargo Charter (SCC) will significantly revise its reporting ambition, aligning its trajectory with emission reduction goals in response to the International Maritime Organization’s (IMO) revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023. In parallel with aligning its trajectory, the SCC is set to expand its current membership scope to include…
Odfjell SE is expanding its fleet with six newbuildings through a combination of long-term time charter and pool agreements
This increases the total to twelve 25-40.000 dwt stainless steel vessels to be delivered on long-term time charters and pool agreements between 2024 and 2027. The agreements represent a continuation of Odfjell’s long-term relationships with Japanese shipowners and shipyards and include six vessels. The series of newbuildings will be built at multiple shipyards in Japan…
BIMCO adopts new CII clause for Voyage Charter Parties
Overview The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a new CII Clause for Voyage Charter Parties. The clause was adopted by BIMCO’s Documentary Committee on 11…
MOL Drybulk, Kambara Kisen Sign Basic Agreement on Time Charter for Newbuilding Methanol Dual Fuel Bulk Carrier- Moving Steadily toward KPI: ’90 LNG/Methanol-fueled Vessels’ by 2030
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that on September 11, 2023, its group company MOL Drybulk Ltd. (President and Representative Director: Kazuhiko Kikuchi, Headquarters: Minato-ku, Tokyo) and Kambara Kisen Co., Ltd. (President and Representative Director: Hirotatsu Kambara; Headquarters: Fukuyama-shi, Hiroshima Prefecture) signed a basic agreement on time charter for…
How To Change Charter Parties To Comply With MEPC 80?
As shipping attempts to chart a course to a zero-carbon future, there is a general acceptance that decarbonization will require all stakeholders to contribute. The regulatory mechanisms are being deployed in full force. At the same time, there are concerns about the vagaries and lack of concrete language in recent announcements. Ultimately, the way the…
Congestion in Panama to support charter market
Continuing congestion, exacerbated by the impact of El Nino to the end of 2023, will increase voyage costs and may affect trade patterns, should longer waiting times result in operations through the Panama Canal becoming commercially unviable. Charter rates in the dry bulk market improved for the sub-Capesize vessels in August amid increased congestion in…
