Marine link
 

Griffin Orders New Containership

Durban-based Griffin Shipping Holdings has ordered a 1,728-TEU containership from Poland's Szczecin yard. The 23,000-dwt vessel will be delivered in the second half of 1998. "This ship will fit neatly with our strategic focus on the super feeder sector of the containership market. It will be a sis- tership to Quadrant Express, which we took delivery of last year and which has performed extremely well," said Mike Meehan, managing director of Griffin. The newbuilding order is of the B170-class, and will have a service speed of 19.7 knots. It will be self-sustaining, with three 40-ton cranes.

Griffin will manage the ship from its Hong Kong office, and expects to place it on long term charter with a first class liner operator. "This will bring to four the number of Szczecin-built ships which we own," said Mr. Meehan. "The three we already operate have proven themselves commercially attractive to good charterers, and I am confident that this new vessel will substantially enhance our already growing earnings from containerships." Mr. Meehan expects the overall cost of the vessel on delivery to be approximately $310 million, but the actual contract price is confidential. Financing will be through traditional bank finance, as well as the company's own resources.

Griffin holds an additional three options for similar vessels at Szczecin for delivery in 1999. Griffin Shipping Holdings owns and manages a fleet of multi-purpose vessels, mid-size containerships and handy-size bulk carriers through Hong Kong-based Griffin Shipping (Asia).




Ship Simulators History

ABS Launches Products To Advance Ship Safety
Adrick Marine Delivers AC/Refrigeration Equipment
Advanced Marine Enterprises, Inc.
American Shipbuilding Poised For 21st Century
Bulk Carrier Market Weakening
BULK CARRIERS: A Volatile Market
COMSAT Offers Cruise lines Communications Concession
CRUISE SECTOR FOCUSES ENERGY ON NEW FLEET EMERGENCE
Eletson Signs letter Of Intent To Build Tankers At Newport News
Export Business Brightens Future
Exporting Ships From U.S. To China
Fincantieri To Build Two Disney Cruise Ships
Germanischer Lloyd: R&D Helps Pave The Way For Safety
Griffin Orders New Containership
Keeping A Step Ahead
KVAERNER DELIVERS WORLD'S LARGEST PURPOSE-BUILT CABLE SHIP
Latest Navy Oiler Christened USNS Yukon By Avondale Industries
Lykes Fights To Stay Alive Bankruptcy filing by Lykes raises many questions about the company's future
MarAd Sets Strict Conditions For APL Foreign-Flag Activities
Meeting New Berth Demands: Cruise Leaders Reignite Scorch For First-Time Business
Newport News Christens Sealift Ship On Independence Day
Newport News signs letter Of Intent For live DooNe Engle Tankers
RINA Spearheads Watertight Safety Debate
Shipping '94: The Risks & Rewards Of Quality Shipping
Steamers Buys Containership From Gigi Shipping For $20 Million
Stolt-Nielsen Orders Six Chemical Parcel Tankers
Technology, R&D: Charting A Steady Course For Cleaner Seas
USCG Proposes Shipboard Oil Pollution Rules
Who's The Leader Of The Band?
Y2K: The Truth W Consequents Ship From Samsung
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright