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Omega to Buy Tankers from STX

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


Excel Buys Two Vessels

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


NLNG Buys Two Gas Vessels

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.


Sumatec Buys Two Tankers

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


Seaspan Buys Two Ships

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


OSG Buys Two U.S. Flag Tankers

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


AP Moeller Shares Fly High In '99

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.


Bergesen Profits Expected To Be Lower

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


Ships to Ease Overcrowding for British Prisons

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


Frontline Says There's Still Room for Takeovers

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."


Petroperu Tenders to Buy Biodiesel Cargos

State-run Petroperu launched a tender to buy two 100,000 barrel cargos of biodiesel to be received from May 2 to June 6 at Talara, Conchan and Mollendo ports, according to a document seen by Reuters on Friday. The oil company, which operates most of Peru's refineries


Petroperu Tenders to Buy ULSD Cargoes

State-run Petroperu launched a tender to buy six 290,000-324,800 barrel cargoes of ultra low-sulfur diesel (ULSD), to be received from May to June at its Conchan, Mollendo and Callao ports in Peru, according to an invitation seen by Reuters on Wednesday.


Navy Cuts One Littoral Combat Ship in 2015

 U.S. Navy Aims To Smooth Impact Of Fiscal 2015 Cut To Ship Orders   Add to Collection(Oil)|Print Download:Plain TextXMLAll         WASHINGTON, April 10 (Reuters) - The U.S. Navy hopes to smooth out the impact on Lockheed Martin Corp and Australia's Austal of


YPF Tenders to Buy Fuel Oil for June

State-run oil company YPF launched its second fuel oil tender in April, this time to buy two 50,000 metric ton cargoes (some 375,000 barrels each) to be received in June and supplied to domestic thermoelectrical companies, according to a document seen by Reuters on Thursday.


OW Bunker Buy Two Bunker Barges

OW Bunker acquire two bunker barges for Nordic operations: 'OW Copenhagen' and 'OW Aalborg'. Prior to the acquisition, OW Bunker operated both vessels on a bare-boat charter from international shipping company the Clipper Group. OW Copenhagen and OW Aalborg are modern double-hulled 3


Ice-class Panamax Vessels Bargain Deal for Golden Ocean

Golden Ocean Group agrees to buy two 'resale' ice class Panamax vessel built at India's Pipavav Defence & Offshore Engineering Company. The company will  take delivery of the vessels ex yard, the first vessel at the start of June and the second vessel during second half of 2013


China Bunker Price Undercut by Russian Competitors

Bunker fuel sales at China's Shenzhen port have dropped by around 20% since the beginning of this year as more ships are calling at the Russian Far Eastern ports to buy bunker fuel with prices there $100-150/mt lower than in Shenzhen, according to trade and industry sources cited by Platts.


ISH Buys Integrated Tug/Barge Unit

International Shipholding Corporation (ISH) has bought the integrated tug/barge unit, 'Coastal 202' and 'Florida Enterprise', from CIT and GE Capital. These two vessels have been operating under a sale and leaseback arrangement and were part of ISH’s purchase of United Ocean Services.


Baltic Trading to Buy Two More Ultramax Bulkers

Bulk carrier: File photo

Baltic Trading Limited continues to execute its growth strategy with the exercise of its option to acquire two additional Ultramax newbuildings. The two option vessels, which will have the same specifications and purchase price as the Ultramax newbuildings Baltic Trading previously agreed to


Damen Crew Supplier for Sure Wind

Sure Star, a Damen FCS 2610 (Photo: Damen)

The first of two Damen Twin Axe Fast Crew Suppliers has officially been handed over to British company Sure Wind. A specialist in the German offshore wind market, Sure Wind already has work for the two newbuild FCS 2610 vessels. The first vessel Sure Star will head straight to Esbjerg and will


Topaz Buys Two Anchor Handling Vessels

Caspian Challenger

Topaz Energy and Marine has announced the acquisition of two large and modern Anchor Handling Towage and Supply Vessels (AHTSV) at a purchase price in excess of $100 million (USD). The vessels, the Caspian Challenger and the Caspian Endeavour


Edison in Talks to Buy Two Israeli Offshore Fields

Reuters - Edison, the Italian utility owned by EDF, is in talks to buy two Israeli gas fields from U.S. explorer Noble Energy and Israel's Delek Drilling, which are estimated to hold up to 70 billion cubic meters in total, two sources with knowledge of the talks said.


Navy Awards Fiscal 2014 LCS Contracts

LCS photo credit USN

Contract modifications have been issued to Lockheed Martin Corporation and Austal USA under their respective Littoral Combat Ship (LCS) block buy contracts to add funding for construction of two fiscal year 2014 Littoral Combat Ships each, informs the Program Executive Office, Littoral Combat Ships


Petroperu Tenders to Sell One 220,000 bbl Cargo of Virgin Naphtha

Reuters - State-run Petroperu launched a tender to sell one 220,000 barrel cargo of virgin naphtha to be delivered on April 11-15 at Talara port, according to a document seen by Reuters on Wednesday.   Petroperu usually goes to the open market to sell at least one monthly cargo of virgin


NewLead Buys Two Bulk Carriers

NewLead Holdings Ltd. announced that it has executed definitive agreements for the acquisition of two eco-type 31,800 dwt, Handysize bulk carriers built in 2012 for a total acquisition price of $37 million. The two eco-type vessels are expected to be delivered in NewLead by the end of June and


 
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