Omega Navigation Enterprises, a Greek shipowner whose shares trade in New York and Singapore, plans to buy two tankers that carry refined oil products from South Korea's STX Shipbuilding Co for US$64.5 million each. The Omega Emmanuel and the Omega Theodore, which have a capacity of 73,000 deadweight tons each, are so-called ice-class ships that are capable of navigating icy waters, the company said. The ships are due for delivery on March 23 and April 26. Omega also has options to buy two ships for delivery in the third quarter. An expected increase in shipments of refined oil products from the Middle East to Europe, Asia and the US may support demand for product tankers, EA Gibson Shipbrokers said in a recent report. Omega will pay $60m per vessel using cash and borrowing, with the balance funded by warrants. Source: Bloomberg
According to reports, Excel Maritime said it plans to buy two Supramax bulk carriers for $126m, or $63m per vessel. The first vessel has a capacity of 55,567 deadweight tons and was built at Oshima Shipbuilding Co. Ltd. in Japan. The second vessel has a capacity of more than 53,206 deadweight tons and was built by Imabari Shipbuilding Co. Ltd. Both ships were built in 2005. Both vessels will be delivered to Excel Maritime in the fourth quarter
Nigeria Liquefied Natural Gas (NLNG) purchased two vessels owned by Duke Energy to transport gas from the Bonny LNG plant. The company said it had long-term chartered the ships in 1995 for 22.5 years with provisions for an extension or outright purchase within the period 2001 and 2006. The company is exercising the right to buy the vessels outright one year ahead of schedule. The $3.8 billion Bonny plant in southeast Nigeria began LNG production in October.
Danish shipping and oil group A.P. Moeller shares surged 95 percent in 1999, bolstered by a 150 percent rise in crude oil prices and improved freight rates, and analysts predict solid profits in 2000 along with more takeovers. Earnings per share (EPS) for D/S 1912 is expected to climb to 2,762 crowns this year and rise a further 24 percent to 3,424 crowns next year, with D/S Svendborg seen reaching 3,880 crowns in the current fiscal year and 4,917 crowns in 2000.
Seaspan Corporation announced that it has agreed to purchase two new building vessels from affiliates of Conti Holding GmbH & Co. KG of Germany, increasing Seaspan’s total fleet to 25 vessels. Seaspan will acquire the two 3,500 TEU vessels upon their delivery in February and July 2007 respectively from Zhejiang Shipbuilding Co. Ltd. in China. The total delivered cost is expected to be approximately $50 million per vessel, subject to certain pre-delivery expenses remaining at budgeted levels
The British government is in talks to buy two prison ships to ease the current wave of overcrowding, according to the BBC. An RAF camp is also being considered as one of a number of options to temporarily ease the pressure. The Home Office has already sent out advice to courts to only jail dangerous and persistent offenders to help ease the situation in England and Wales. Prison numbers are currently hovering near the 80,000 mark with just 2,000 new places due by the end of the year
Pre-tax profits at Bergesen d.y. Group ASA, Norway's largest shipping company, are expected to more than halve to 322 million crowns in nine months to September 30, a Reuters poll showed last week. In the same period in 1998, Bergesen booked profits before taxes of 783 million crowns. The survey of eight Norwegian analysts includes unrealized losses in the first half on foreign exchange transactions of 81 million crowns, but does not provide for additional losses or gains in the third quarter
Sumatec Resources Bhd has ordered two units of 8,000 dwt double-hull product oil tanker from a Chinese shipyard for $11.6 million each. In a statement to Bursa Malaysia on May 22, Sumatec said it had entered into a letter of intent (LOI) with Yangzhou Kejin Shipyard Co Ltd and Jiangsu Guotai International Group Textile Imp & Exp Co Ltd for the purchase of the tankers to serve contracts from oil majors. The first tanker would be delivered by Dec 15, 2007 and the second would in March 2008
Tanker operator Frontline, which announced on Wednesday it planned to list its shares on the New York Stock Exchange, said that there could be room in the tanker market this year for more acquisitions. "There aren't too many (acquisition targets) left," Frontline Financial Director Tor Olav Troim said. "Together with Worldwide and Teekay, I think we've pretty much cleaned up the market. But there's two or three things to be done, so let's see what happens this year."
Overseas Shipholding Group, Inc. has purchased and taken delivery of two 50,000-deadweight ton U.S. Flag product tankers from Attransco, Inc. The two double bottom vessels, the S/R Galena Bay and the S/R Puget Sound, were built in 1982 and 1983, respectively, and currently are on bareboat charter to SeaRiver Maritime, Inc., a subsidiary of ExxonMobil. "This acquisition demonstrates OSG's commitment to expand its U.S. Flag
The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent urgency to the need to bolster forces, a Philippine navy officer said on Wednesday.
Senior Chinese and Vietnamese officials have agreed to settle their maritime disputes without resorting to "megaphone diplomacy", the official Xinhua news service said on Saturday. The agency's report follows a meeting in Hanoi on Friday between Chinese political advisor Yu
Russian government has approached the Indonesian government to offer Kilo Class Type 636 submarines to bolster the country’s maritime defense system, reports Jakarta Post. Russian ambassador MY Galuzin had met with Defense Minister Ryamizard Ryacudu to discuss military and
Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume, selling seven cargoes, while oil major BP sold the remaining cargo, two traders said.
Colombia's state-run Ecopetrol launched a tender to buy a 68,000-70,000 barrel cargo of ultra low-sulfur diesel (ULSD) and a 91,000-95,000 barrel cargo combining ULSD and gasoline, according to a document seen by Reuters on Wednesday.
Asia's cash premium for benchmark 500ppm gasoil stayed firm on Friday as a buying spree in the Singapore cash market continued with a total of 10 deals for 500ppm gasoil, with Vitol and Glencore buying most of the cargoes. Buying interest in the Singapore cash market would likely continue for a
Nordic American Tankers Limited (NAT) says it has bought two Suezmax tankers, bringing its fleet to 22 Suezmax vessels. Secondly, Nordic American Offshore Ltd. (NAO) announces a proposed public share offering. Details as follows: 1. Nordic American Tankers
The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at the buying end of 43% of all bulker sales completed so far in 2014. As of June 2014, the number of Greek bulker purchases so far is 91
Nordic American Tankers Limited (NAT) today announced that the company has agreed to acquire two Suezmax vessels, delivered from a "top shipyard" in 2005. The agreed purchase price is $36.5 million each. The vessels are expected to be delivered to us no later than August, 2014
Japan's Mitsubishi Heavy Industries is considering taking a direct stake in French engineering group Alstom as part of an offer with Germany's Siemens, two French newspapers said on Thursday. Financial daily Les Echos said Mitsubishi is considering buying part of French Bouygues's 29 percent
Colombia's state-run Ecopetrol has launched a tender to buy a 170,000-180,000 barrel cargo of diluent naphtha to be received on July 10-18 at the U.S. Gulf Coast, the Caribbean or Barranquilla port, according to a document seen by Reuters on Monday.
Jamaica's refining company Petrojam has launched tenders to buy two 140,000-205,000 barrel cargoes combining gasoline, jet fuel and high-sulfur diesel and a 150,000 barrel cargo of fuel oil, all of them to be received on August 20-29 at Kingston, according to documents seen by Reuters on Monday
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that it has signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels
Costa Rica's refining company Recope has launched a tender to buy two 90,000-100,000 barrel cargos of fuel oil for delivery from September to December at Port Caldera, according to a document seen by Reuters on Friday. Previously this month, Recope bought three 25,000 barrel cargoes of MTBE
China is set to import more than 335,000 tonnes of naphtha and diesel, rare moves for the world's no. 2 oil consumer given it has been self-sufficient at meeting domestic oil product demand, industry sources said on Friday. Unipec, the trading arm of top Chinese oil firm Sinopec