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Second Hand Ship

Biggest Spenders of 2015

Image: VesselsValue.com

Online ships data platform VesselsValue.com has rounded up the top spenders in terms of second hand tonnage for the first half of 2015.   Leading the industry in total amount spent on second hand tonnage so far in 2015 is U.S.-based Gener8 Maritime, who spent roughly $1.4 billion on 14 vessels. The seaborne crude oil transportation services company formed earlier this year as result of a merger between General Maritime Corporation and Navig8 Crude Tankers Inc.   Second in spending was the Malaysian headquartered tanker shipping group MISC who spent about $1.065 billion on five second hand vessels.   Third was Euronav ($776 million, eight vessels), followed by Ship Finance International ($566 million, 11 vessels) and Sinoker Merchant Marine ($402 million, 10 vessels).   VesselsValue.com noted that it used VV value the day of the sale when sale price was unknown.


Stolt-Nielsen Reports Unaudited Results Q1 2011

stolt-nielsen.bmp

LONDON, April 7, 2011 - Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for the first quarter ended February 28, 2011.  Net profit attributable to shareholders in the first quarter was $31.2 million, with revenue of $458.7 million, compared with $33.0 million and $459.4 million, respectively, in the fourth quarter of 2010. Highlights for the first quarter of 2011, compared with the fourth quarter of 2010, were:


Korean Shipyard Building 18,000 TEU Container Ship

DSME begins work on construction of the world's largest container ship Daewoo Shipbuilding and Marine Engineering has begun constructing the world's largest container vessel after receiving the order from Denmark's AP Moller-Maersk, the shipbuilder has announced. When completed, the 18,000 TEU container ship will measure 400 m in length and 59 m in width, with a deck wide enough to accommodate four football fields


Private Equity Spending Fuels Shipping Sector Risk

Private equity has pumped $32 bln into shipping in past 2 years. Ships totaling 299 mln dwt to enter global fleet from May. Some private equity-backed shipping IPOs have been put off on weak sentiment. The shipping industry faces a looming capacity glut as billions of dollars pumped into it by private equity have stoked a vessel-buying spree, threatening its prospects just as the sector is emerging from its worst downturn in three decades.


Billion-dollar MoU for Shipping Finance

$1 billion Memorandum of Understanding between the Eximbank of China and ING Bank for shipping finance   On October 26, 2015 in the presence of President Xi Jinping and King Willem-Alexander of the Netherlands, ING Bank NV and The Export-Import Bank of China signed a three year Memorandum of Understanding (MOU).   The objective of the MOU is to further strengthen the cooperation between the two parties in the financing of Chinese built ships, both new and second hand


Bahri to Acquire 2 VLCCs

The board of National Shipping Company of Saudi Arabia (Bahri) has approved the purchase of two second-hand very large crude carriers (VLCCs) for $155 million, it said in a bourse statement on Thursday. Bahri will take delivery of the carriers between Jan. 14, 2016 and Feb. 1, 2016, the statement said, adding the financial impact of the ships would appear in its first quarter of 2016 earnings. The ships were purchased from Alpha and Beta VLCC LLC, a subsidiary of Tanker Investment Ltd


General Maritime to Acquire Tankers

General Maritime Corporation has agreed to acquire 19 tankers, including 14 Suezmax and 5 Aframax vessels from Metrostar Management Corporation, a Greek tanker operator. The acquisition of the vessels is expected to commence on March 1, and to be concluded by April 30, 2003 during which time the vessels will be integrated into General Maritime's fleet operations. The acquisition of the tankers will be made for cash and is subject to the customary conditions of delivery


Vinashin to Build Three Tankers

The Vietnam Oil and Gas Corporation (PetroVietnam) on July 4 awarded a contract to the Vietnam Shipbuilding Industry Corporation (Vinashin), for the construction of three 105,000-ton oil tankers. The oil tankers, to be built at the Dung Quat Shipyard, are to be equipped with state-of-the-art facilities satisfying latest international maritime conventions. According to Vinashin, oil tankers of this kind are normally priced and sold for $60-65m each in the world market


GulfMark Orders Three PSVs from Poland

GulfMark Offshore, Inc. (NYSE: GLF) announced the initiation of a vessel construction program. The first three vessels in the program will be built by Remontowa Shipbuilding SA in Gdansk, Poland, and consists of two 1000 square meter deck area platform supply vessels of the MMC887CD design and one MMC879CD design with a deck area of over 800 square meters.  These large and technologically advanced vessels have been designed to meet the demanding requirements for supporting deepwater and


Denmark Arrests Former OW Bunker Manager

Denmark has arrested a former manager of collapsed ship fuel supplier OW Bunker and intends to hand him to Italy, where he is suspected of fraud, the Danish public prosecutor said on Thursday.   A statement from the prosecutor's office did not disclose any details. Danish daily Berlingske reported earlier this week that the arrested person and five others had cheated the Italian navy out of 7 million euros ($8.6 million) for fictitious bunker fuel delivered from a non-existent vessel.


HamiltonJet Debuts JETanchor Positioning System

Global waterjet manufacturer HamiltonJet has launched its latest vessel positioning system, JETanchor.   Developed from the blueARROW controls platform JETanchor is the newest addition to the HamiltonJet controls’ product range, developed and tested over the past 18 months


Damen Builds Cable Installer For Maersk Supply Service

Photo: Damen

New Damen-built vessel for Maersk Supply Service to undertake long-term charter with DeepOcean   A newbuild DP2 cable installation vessel, Maersk Connector, was handed over from Damen Shipyards Group to Maersk Supply Service on February 4, 2016


Crowley Christens 2nd LNG-ready Product Tanker

Photo: Crowley

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of four new Jones Act product tankers yesterday at the South Florida Petroleum Terminal (The Public Dock) in Fort Lauderdale, Fla


Antietam, McCampbell Build Relationships at IFR 2016

IFR 2016 is an international military exercise hosted by the Indian Navy to help enhance mutual trust and confidence with navies from around the world. Antietam and McCampbell, forward deployed to Yokosuka, Japan, are on patrol in the 7th Fleet area of operations in support of security and stability in the Indo-Asia-Pacific. (U.S. Navy photo by Mass Communication Specialist 3rd Class David FlewellynReleased)

 Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India to participate in the nation's International Fleet Review (IFR) 2016. IFR 2016 is an international military exercise hosted by


HMS Prince of Wales’ Aft Island Lifted into Place

Photo: Aircraft Carrier Alliance

The Aircraft Carrier Alliance successfully lifted one of the final sections of the second Queen Elizabeth Class aircraft carrier in Rosyth on Friday, January 8 following its arrival from Glasgow.     The 750-metric-ton block was raised 25 meters in the air using the Goliath crane and


Mumbai Port's 2nd Liquid Chemical Berth Inaugurated

(From L-R)  Ravi Parmar, Chairman, MbPT; Nitin Gadkari, Hon’ble Union Minister of Shipping, Road Transport & Highways; Rahul Shewale, Member of Parliament and Yashodhan Wanage, Dy. Chairman, MbPT. Photo MbPT

  Mumbai Port Trust commissioned its second Liquid Chemical Berth at Pir Pau on January 13th 2016. The facility was inaugurated by the Union Minister of Shipping, Road Transport and Highways, Nitin Gadkari.  The second Chemical Berth is a modern state-of-the-art facility with four


U.S. Freight Volume Dips: Kemp

File image: Barge fleeting operations on the U.S. inland river system (WCI)

Freight volumes in the United States have fallen year on year for the first time since 2012 and before that the recession of 2009, according to the Bureau of Transportation Statistics. The total volume of freight moved by road, rail, pipeline


Seadrill Pushes Back Drillship Delivery

Seadrill Limited has reached an agreement with DSME shipyard to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until the second quarter of 2018 and first quarter of 2019 respectively.   Under the terms of the original construction contracts


Vessel Demand Suffers Shock

Table: Clarksons Research

 Containership owners have experienced some tough times in recent years, and early in 2015 it looked as if things might at last be on the up, says Clarksons Research.   However, last year proved to be the classic ‘game of two halves’


New Transas CEO Plans Market Shakeup

Frank Coles (Photo: Transas)

The new CEO of Transas, Frank Coles, has vocalized his vision for the future of the global maritime technology for the first time since his appointment in late 2015.    The Transas CEO has his sights set on the company delivering the technology and solutions needed for the integrated


MISC Hands Over Naval Auxiliary Vessel BM5 To RMN

Former container ship joins Malaysian Navy Photo RMN

MISC Berhad (MISC) today had successfully handed over to the Royal Malaysian Navy (RMN) the Naval Auxiliary Vessel BUNGA MAS LIMA (BM5), joining the RMN’s current fleet that will be deployed to safeguard the safety of our Malaysian waters and strengthen the RMN’s future maritime


FURUNO Launches Two Radar Models

FAR-15x3 (left) and FAR-15x8 (right) (Photo: FURUNO)

FURUNO has announced that two new Radar models FAR-15x3 series and FAR-15x8 series will be ready for launch very shortly. These two Radar models have been developed with the concept of delivering high performance and excellent operability at the same time.  


Greek Pension Protests Hit All Transport Sectors

Ferries were docked at Greek ports on Wednesday as sailors kicked off their second 48-hour strike this week, adding to a groundswell of public discontent over plans to reform the country's struggling pension system. Prime Minister Alexis Tsipras launched a vocal defence of the plan on Tuesday


Port of Indiana-Jeffersonville Breaks Annual Shipping Record

For the second year in a row, the Port of Indiana-Jeffersonville set an annual shipping record with total cargo tonnage for 2015 exceeding the previous year's volume by nearly 16 percent. The port handled 2.8 million tons of cargo in 2015, driven by heavy volumes of agriculture and steel products


LSC Shipmanagement Receives 3 New Ships

Photo: A/S Latvijas kuģniecība

 In the first half of this year, JSC “Latvijas kugnieciba” subsidiary “LSC Shipmanagement” Ltd (LSCSM) will add three newly built oil and chemical tankers under technical management.    The first of the three ships was delivered on January 11 – the






 
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