Buying A Ship
Shipping Corporation of India has sought government approval for acquiring more ships, according to a report on http://sify.com. SCI has sought approval for 2 Capesize Bulk Carrier, 6 Handymax Bulk Carriers, 2 container vessels of 4,300 TEU and 6 LR -1 size product tankers.
Rochester city officials estimate that they will need $3.1 million to buy out existing high-speed ferry contracts or continue them if necessary, according to legislation before City Council, according to the Rochester Democrat & Chronicle. The amount is included in an expense list justifying the mayor’s request to borrow $9.4 million from the city insurance reserve and close out ferry operations. Other expenses include repaying manager Bay Ferries Great Lakes LLC, which is owed $2
Shipping company Chuan Hup Holdings Limited bought three vessels for S$5.8 million in cash, boosting its fleet to 146 ships to cater to growing regional demand for shipping. In October Maritime Week reported that Lim said Chuan Hup signed a contract with Indonesian company PT Adaro to ship coal from Indonesia's Kalimantan to a power station in East Java, and would have to spend some S$40-50 million on 20 new barges and tug boats
Shipping Corp. of India Ltd. plans to buy 76 vessels for about $3.3b over the next six years, The Financial Express reported. This is the first major fleet acquisition proposal by the state-run carrier in recent years. The ships would be bought through the rest of the 10th plan period and end of the 11th plan till 2012. The 10th plan is the official span for development budgeting by the government between 2002 and 2007. The 11th plan would cover the following five years
A.P.Møller-Mærsk is still prepared to invest in new ships from China and is going to order 25 ships in the course of one year, wrote the newspaper China Business News according to the news agency AFX. An unnamed employee at A.P.Møller-Mærsk’s office in China has told the newspaper that the shipping line last week signed a deal to buy four container ships at the Dailan Shipbuilding Industry and 80 tons deadweight tug vessels at Quingdao Qianjin.
Israel Corp. subsidiary Zim Integrated Shipping Services Ltd. said it had placed an order to purchase eight mega container ships from the South Korea’s shipyard Samsung Heavy Industries Co. Ltd. The deal, valued at $1.37b, ($170m each) comes six weeks after Zim Integrated Shipping Services Ltd. announced its plan to upgrade its container vessels fleet. The company had ordered eight TEU 12,600 mega containership for delivery by July 2012
To be trite, every cloud has a silver lining, and the stormy shipping market crisis' shining beacon appears to be strong investment opportunities in secondhand ships. In its latest report, "Secondhand Ships: Investment Potential and Value for Money," Drewry's argues that "adversity provides opportunity... therefore, acquisitions made now could prove to be bargains." Drewry believes that 1999 and 2000 should be interesting and active years for the secondhand ship market.
The U.S. Navy’s push to fund shipbuilding through its research and development (R&D) budget has paid off. Because the rules that govern R&D spending are more lenient than those for ordinary procurement, the service was able to begin building a new Littoral Combat Ship (LCS) in October even though the 2006 defense authorization and appropriations bills have yet to pass Congress or be signed by the president. When the Navy signed a $223 million construction contract with General Dynamics
Thirt-seven years after the SS United States last sailed the seas under its own power, and four years after Norwegian Cruise Line bought the ship, a key question remains: Can the grand vessel ever make a comeback? Norwegian Cruise Line, or NCL, which bought the old Newport News-built vessel in 2003, won't reveal its plans for the ship, which likely would need hundreds of millions of dollars to refurbish. But in May, the chairman of the company that owns NCL gave boosters hope
Aker Maritime has acquired control of about one fourth of Kvaerner for a reported $350 million (3 billion crowns). The purchase made the industrial holding firm, a group of companies operating in more than 20 countries with no previous Kvaerner ownership, the biggest shareholder in Kvaerner. "Aker Maritime ASA has today bought rights issues, shares and options in Kvaerner ASA which together amount to 26.39 percent of the company after the ongoing rights issue
The Russian state-owned shipbuilding firm USC has confirmed it will take full ownership of the financially challenged Arctech Helsinki shipyard from its current owner, the Korean company STX, according ot the Finnish newspaper Yle. United Shipbuilding Corporation (USC) already holds a 50 percent
In the key Asian growth markets of Korea and China, the competition is on for incremental winter LNG cargos, with the former showing growth related to fuel substitution (lower nuclear capacity) and seasonal use, while the latter will come from new import infrastructure opening up new markets
Prices 8.13 Mln Public Share Sale at Discounted $8/Share Nordic American Tanker (NAT) opened this morning on the stock exchange down more than 10% (Down $0.85 to $8.025/share in late morning trading) after saying it has priced a 8.13 million public offering at $8 per share
Aecon Group Inc. announced that it has completed its previously announced public offering of $150 million aggregate principal amount of 5.5% convertible unsecured subordinated debentures due December 31, 2018. The offering of debentures was completed on a bought deal basis through a syndicate
A LEEDCo official has informed 'The News-Herald' that more than 3,000 people in Northeast Ohio so far have signed up to pledge to buy a portion of their future electricity needs from offshore wind power. LEEDCo has begun work on a five to nine turbine wind energy demonstration project in Lake
United Arab Shipping Company (UASC) has placed orders worth over $2 billion for very large container ships with South Korea's Hyundai Heavy Industries., reports Trade Arabia. UASC has ordered five vessels of 18,000 twenty-foot equivalent units (TEU) each, and five 14,000 TEU vessels
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.
Clarksons recently visited the Docklands Waterports and Sailing Centre (DWSC) near Canary Wharf on the UK's River Thames to officially launch the two new rescue boats it has bought for the organisation. The state of the art Rigiflex boats - named after two esteemed late Clarksons'
An active shooter was reported inside the Naval Sea Systems Command Headquarters building (Bldg. 197) on the Washington Navy Yard at 8:20 a.m. (Eastern Time). There is one confirmed injury. Emergency personnel are on scene and a "shelter in place" order has been issued for Navy Yard
WASHINGTON -- Several people were injured and there are reports of fatalities in a shooting at the Washington Navy Yard Sept. 16. An active shooter was reported inside the Naval Sea Systems Command Headquarters building (Bldg. 197) on the Washington Navy Yard at 8:20 a.m. (Eastern Time).
According to various wire and news reports, at least 12 people were killed in a shooting on Monday at the U.S. Navy Yard in Washington, where a suspected gunman was reportedly among the dead and authorities were searching for two other possible assailants wearing military-style clothing
Today marked the conclusion of the Canadian Ferry Operators Association (CFOA) annual AGM and Conference in St. John’s, NL. The theme of CFOA 2013 was Innovative Approaches to Customer Relations, and the two-day conference featured presentations on enhancing customer relations
Trading in preowned vessels continues to be a popular choice for many customers. Damen Trading facilitates the sale and purchase of both Damen and third-party vessels. Recent deals highlight how trading in vessels results in a win-win situation for buyer and seller.
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.
Taking a serious view of the suspicious movement of the American-owned ship, 'MV Seaman Guard Ohio' in Indian waters, the Central Indian Government seeks a report from the Tamil Nadu Government on the vessel which was detained for carrying arms and buying diesel fuel without authorization in India