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Second Hand Ship

Biggest Spenders of 2015


Online ships data platform 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). noted that it used VV value the day of the sale when sale price was unknown.

Stolt-Nielsen Reports Unaudited Results Q1 2011


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:

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

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

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.

CDC Offers SARS Guidelines for Ships

The U.S. Centers for Disease Control and Prevention (CDC) issued guidelines for maritime personnel regarding severe acute respiratory syndrome (SARS). The three guidelines are somewhat redundant with each other. The first focuses on Personnel Boarding Maritime Vessels from Areas with SARS . The second focuses on Workers Handling Cargo or Other Packages . The third focuses on Cruise Ship Passengers and Crew Members . The guidelines point out

Seaarland, Nordic Tankers Sign Joint Venture

Seaarland Shipping Management and Nordic Tankers signed a joint venture that will see both of these companies enter the Handysize product carrier market. The joint venture will involve investment in modern second-hand vessels as well as new buildings. The vessels will be jointly owned by both partners in varying proportions. The first acquisition by the joint venture, the 2000-built 35,820 dwt Hanne, is to be concluded soon

Hyundai Heavy to Build World’s Largest Containerships

hyundai heavy logo.jpg

Hyundai Heavy Industries (HHI) announced the Company won a $700 million order for five 18,400 TEU containerships from China Shipping Container Lines (Hong Kong) Co., Ltd. The world’s largest containerships will feature an electronically-controlled main engine and two EcoBallast seawater treatment system. The electronically-controlled main engine will maximize fuel efficiency, and reduce noise, vibrations, and carbon emissions by automatically controlling fuel consumption to suit

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.

Lerwick Readies for Cruise Call

123 metre cruise ship Hanseatic

  Lerwick Harbour is making ready for a surprise visit by the 123 metre cruise ship Hanseatic. The 8,378 gross tonnes vessel carrying 144 mainly German passengers is due to arrive at 1200 noon on Sunday 27 September from Seydisfjordur and will berth at Victoria Pier East before sailing

First SA Cargo Ship Registered

Photo: SAMSA

 Three South Africa youths made history in South Africa’s maritime economy sector at the weekend when they boarded the country’s first registered cargo ship since the dawn of democracy.   Similarly, the city of Nelson Mandela Bay also marked its name in the country’s

BW Gas Floating LNG Terminal Arrives in Egypt

A second liquefied natural gas (LNG) import terminal arrived in Egypt without cargo on Wednesday and will start operating in the third week of October, state gas board EGAS head Khaled Abdel Badie told Reuters. The floating storage and regasification unit (FSRU) provided by Singapore-based

HMS Announces Management Hires

Steve Carlson (Photo: Harley Marine Services)

Marine services company Harley Marine Services (HMS) has expanded its management team, naming Don Martin as Vice President and General Counsel and Steve Carlson as Vice President of Engineering, the company announced today.   Prior to joining Harley Marine

Tsuneishi to Invest in Indonesia Shipyard Business

Photo:  Tsuneishi Holdings Corporation

 Japanese shipbuilding and maritime transport company Tsuneishi Holdings will invest up to $40 million to open ship repair services in Indonesia amid increasing efforts by the government to boost the archipelago's maritime industry, reports Jakarta Globe.  

New Simulator for Shipboard Firefighting

Photo: VSTEP

Press release- Following an extensive trial period and pilot sessions with professional AFF instructors and crews, VSTEP has launched its Advanced Fire Fighting Simulator (AFF) for shipboard incidents. The AFF simulator enables participants to experience and train any incident on board a ship

Evergreen Orders 10 More Ships

Photo: Evergreen Group

 The Evergreen Group, Taiwan's largest container shipper, has signed an agreement with Japan's Imabari Shipbuilding Co. to build 10 new container vessels with a capacity of 2,800 20-foot equivalent units (TEU) to expand its fleet.  

Braemar Engineering Tests DP Software Tool

(Press Release) Braemar Engineering said its new Second Failure Module dynamic positioning DP software has been installed on a client’s vessel. Kyle Eddings, Manager DP and Offshore Projects at Braemar Engineering, told delegates at the IMCA Asian Dynamic Positioning Conference this week

USN Names Next LCS

Secretary of the Navy Ray Mabus

  Secretary of the Navy Ray Mabus announced today that the next Independence-variant Littoral Combat Ship (LCS) will be named USS Tulsa (LCS 16). The selection of the name honors Oklahoma’s second largest city. Tulsa will be the second, commissioned ship to bear the name

Newbuild Containerships Delivered to Rickmers

The Rickmers Group informs it has taken delivery of the first two in a series of three 9,300 TEU newbuilds acquired by the group in April while already under construction. The containerships were built at the South Korean STX shipyard and are on long-term charter to CMA CGM.

Massive FPSO Modules Installed at Brasa Shipyard

Mammoet worked closely with SBM Offshore to optimize the lifting schedule (Photo: Mammoet)

Mammoet and SBM Offshore complete FPSO module installation at the Brasa Shipyard in Brazil; module integration process optimized on small quayside for the FPSO Cidade de Maricá   Mammoet, a service provider specializing in engineered heavy lifting and transport

America's First Female Cruise Ship Captain on Maiden Voyage

Kate McCue. Photo by Celebrity Cruises, Inc

 An American woman Kate McCue is on her maiden voyage at the helm of the Celebrity Summit. She's leading the 14-day cruise with more than 2,100 passengers and a crew of about 950.     Kate McCue, 37, took the helm of her maiden voyage on the Celebrity Summit ship on Sunday as the

Denmark's Torm Sells Two Vessels, Exits Dry Bulk Shipping

Danish shipping company said on Wednesday it has sold two dry bulk vessels to an undisclosed buyer and will hand back a leased bulker at the beginning of October, marking its exit from the dry bulk shipping industry. Torm Anholt and Torm Bornholm are both so-called Panamax vessels and both

Sailing Cargo Vessel Prepares for Maiden Trip

Nordlys with crew and cargo on board, ready to set sail (Photo: Fairtransport)

Sustainable shipping company Fairtransport informs it will bring a second engineless sailing cargo vessel into service September 26, 2015.   The wooden ship, Nordlys, which is Norwegian for “Northern Light,” is a ketch rigged trawler built in 1873 at the Isle of Wight

Greece Eyes Shipping Money

Theodore Dritsas. Photo Credit: Tovima

Greece's returning Prime Minister Alexis Tsipras decided to break up the "super-Ministry" of the Economy, Shipping and Tourism.   The shipping portfolio was handed to Theodore Dritsas who will head a stand-alone Ministry of Shipping

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