Expand Fleet News

Japanese shipping major Mitsui O.S.K. Lines (MOL) has decided to expand its fleet with the additional five newbuilding dual-fueled Capesize bulkers, which can burn either LNG or conventional marine fuel oil.Two of the vessels will be ordered to Nihon Shipyard and built by Imabari Shipbuilding, while there remaining three will be built by Chinese CSSC Qingdao Beihai Shipbuilding.The vessels are slated for delivery from 2026 to 2027, according to MOL. Including these five vessels, MOL will add a total of 13 LNG-fueled Capesize bulkers in their fleet.

Venezuela will contract with an Iranian shipyard to build two oil tankers under an existing construction agreement bedeviled by payment delays and difficulties with needed certifications, according to people familiar with the matter and documents.Venezuela’s state-run energy firm PDVSA since last year has redoubled efforts to buy and lease oil tankers to rebuild its own fleet. Its maritime operations have suffered from a long-standing lack of capital and U.S. sanctions that have…

Uncrewed surface vessel specialist SEA-KIT International has announced plans to build another of its X-class, 12m USVs as a fleet vessel for launch in 2022. This build, the sixth X-class to be constructed at the company’s Essex base, will pave the way for the company to meet increased market demand for unmanned vessels and to penetrate new sectors of the global maritime industry, the company said.SEA-KIT CEO, Ben Simpson, commented: “Our X-class USV has changed very little since we won the Shell Ocean Discovery XPRIZE with USV ‘Maxlimer’ back in 2015.

Norway's dry bulk owner Belships Group has secured a USD 140 million loan facility. The loan replaces the Group's current senior debt of USD 105 million.The new loan will be available in two tranches, said a press release from the bulk ship operator and management company. An initial tranche of USD 110 million will replace Belships existing loan and strengthen the Group's working capital. An accordion tranche of USD 30 million will be available for fleet expansion.Following the merger with Lighthouse Group in December 2018, Belships currently owns twelve supramax and ultramax dry bulk vessels. In addition, the Group operates three ultramax on time and bareboat charter with purchase options.

Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said on Friday, the latest sign of recovery in the energy industry.After cuts in exploration spending following an oil price plunge that began in 2014, energy firms are now hiring rigs as crude prices have recovered some ground.Odfjell raised $175 million via a new share issue on Thursday to help buy semi-submersible Stena Midmax Rig from Samsung Heavy Industries for $505 million.

Borr Drilling, the Norwegian drilling start-up, which listed on the Oslo exchange on Wednesday, said it aimed to expand its fleet, taking advantage of its low cost base. The start-up, launched last year and backed by the world's biggest oil service firm Schlumberger, said it aimed to have the lowest cash break-even costs in the industry and would take advantage of current low prices for rigs. "We have no debt," Borr's Chief Executive Simon Johnson told Reuters after its shares started trading on Oslo's main market. They were previously listed on the over-the-counter market. "That might change in the future, depending on the financing needs, but we can control what we pay for assets," Johnson said.

Mumbai-based Shreyas Shipping and Logistics Ltd (SSL), part of global conglomerate Transworld Group, has acquired two container ships to boost its fleet to 8 vessels from earlier 6 vessels. In a filing to the stock exchange, the company said that the newly acquired ships would be plying in domestic as well as international waters. The company also plans to introduce additional 5two vessels within a years’ time. SSL Bharat with a capacity of 2,959 Twenty-Foot Equivalent Units (TEUs) of containers was delivered at Jebel Ali, Dubai, on Thursday. SSL Chennai of 700 TEUs capacity was added to the fleet at Port Kelang, Malaysia on July 14. Following the induction, SSL’s fully-owned subsidiary Shreyas Relay Systems will commence operations to Bangladesh soon. SSL Chairman and Managing Director S.

Monaco-based tanker owner and operator Navios Maritime Midstream Partners (NAP) plans to launch syndication of a USD 205 million Term Loan B to finance the purchase of up to two very large crude carriers. Apart from financing the purchase of up to two VLCCs from Navios Maritime Acquisition Corporation, NAP plans to use the remainder of the loan to refinance existing term indebtedness and to pay related fees and expenses. $123.4 million of the $205.0 million Term Loan B is expected to be used to repay the Company’s existing credit facility, $73.0 million is expected to be used to fund the acquisition of C. Dream and Nave Celeste from Navios Maritime Acquisition…

Sealink plans to expand its fleet size of 29 vessels to more than 40 vessels over the next three years, mostly tugboats and barges for chartering, Sinchew reported. Also in the pipeline were plans to transform the 31-acre shipyard into a shipbuilding site with deepwater capability as deepwater vessels generally fetched better margins. Upon expansion, the yard will have the capacity to build 20 vessels per year compared with 15 now.

Around the world, people involved with shipping are booking flights to Greece and preparing to do business at the Posidonia 2002 International Shipping Exhibition, held on the Piraeus waterfront from June 4-7, 2002. With the Greek market worth a conservative $16 billion per annum, there is plenty of incentive. The business week begins with The Posidonia Congress and a program of high level international presentations and debate, at the Megaron, Athens Concert Hall on Monday, June 3. Posidonia's attraction for exhibitors and visitors is not hard to see. Greek shipowners control the biggest fleet in the world. Their drive towards fleet renewal and regeneration is creating multi billion dollar opportunities throughout the international maritime industry.

Globus Maritime Limited has entered into an agreement with an unaffiliated third party in order to acquire a 1998- built 72,929 dwt geared Panamax bulkcarrier, for an agreed purchase price of $66.8m. M/V Tiara Globe and will fly the Marshall Islands flag. On completion of this acquisition, Globus’ fleet will comprise a total of eight modern dry bulkcarriers, consisting of six Handymaxes and two Panamaxes, with a weighted average age of approximately 10.7 years as at December 31, 2007 and with a total carrying capacity of 415,558 dwt. The six vessels in Globus’ current trading fleet are under medium and long term charters with reputable charterers.

MOL has outlined plans for fleet expansion. MOL announced that it intends to increase the bulkship fleet by 60 vessels over the period to mid-2012. In addition, the iron ore carrier fleet is to be expanded by 44 newbuildings. These ships will include five vessels of 300,000 tons, six of 230,000 tons and another six of 200,000 tons.

Euroseas Ltd., an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that it has signed a Memorandum of Agreement to purchase the M/V Clan Gladiator, a Handysize container ship of 30,007 dwt and 1,742 teu built in 1992 in Germany for $25.7 million. The vessel is scheduled to be delivered to Euroseas around June 11, 2007, at the sellers' option. It will be financed partly by bank debt. The vessel is purchased with a period charter contract at a rate of $19,000 per day till April 2008.

A company official said Vinalines would continue to invest in building new seaports in Dinh Vu, off the northern port city of Hai Phong, in Quang Ninh Province; Hiep Phuoc in HCM City; Cai Mep-Thi Vai in Ba Ria-Vung Tau Province, in addition to Vung Tau container port. The company is aiming for an average cargo capacity of between 50-55 million tonnes at each of its ports by 2010. Vinalines is also looking to turn Van Phong port in the central province of Khanh Hoa into a modern international entrepot. Vinalines expects to complete the first phase of its building plans for logistical and maritime services nationwide by 2010. Vinalines said it is also planning to move into banking and finance, as well as shipbuilding and transport-infrastructure development.

Omega Navigation Enterprises, Inc. will acquire two newbuilding Ice Class 1A Panamax product tankers. The vessels, which will be named the Omega Emmanuel and the Omega Theodore upon their delivery to the Company, each have a capacity of approximately 73,000 dwt. and are both currently under construction at STX Shipbuilding Co., South Korea. The Omega Emmanuel is expected to be delivered on March 23 and the Omega Theodore is expected to be delivered on April 26. Following the delivery of these vessels, Omega Navigation will have a fleet of eight product carriers with a combined cargo carrying capacity of approximately 512,358 dwt. The…