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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:

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

Bulgarian Navy to Add Two New Ships by 2022

Bulgaria's navy is preparing to acquire two fully equipped multifunctional ships by 2022 in a deal estimated to cost about 820 million levs ($477.80 million), Defence Minister Nikolay Nenchev said on Thursday.   The Balkan country's government approved on Wednesday plans to buy new military equipment to improve its compliance with NATO standards and cut its reliance on Russian-made machinery.   "The Bulgarian Naval Forces will have two fully operational patrol ships within

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

First of BC Ferries’ Super C-Class Vessel Launched

The first of BC Ferries’ three new Super C-class vessels, Coastal Renaissance, was officially launched at a special ceremony in Germany. Representatives from BC Ferries and the shipyard were on hand to witness this major event as the ship was launched into the water for the first time. The Coastal Renaissance is scheduled to leave Germany for Canada in late October and is expected to be in service in early 2008. The second and third vessels will be arriving in B.C. in early and mid 2008

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

Denmark Gets QUALSHIP 21 Certificate

Image: Danish Maritime Authority

 Once again, the U.S. Coast Guard has issued Denmark with the well-reputed certificate for United States Coast Guard's Quality Shipping for the 21st Century Program (QUALSHIP 21).   The program is intended to secure and improve shipping and has existed since 2001

Ferus Smit Launches Arklow Cape

Photo: Simon Marrink

Shipbuilder Ferus Smit has launched new build M.V. Arklow Cape on Friday, October 21 at its Westerbroek shipyard in the Netherlands   Arklow Cape (Nb. 425) is the second vessel in a series of 10 that will be delivered to Irish owner Arklow Shipping.  

APM Orders 12 STS, 32 ARMGs Cranes

APM Terminals Medport Tangier port development photo APM

APM Terminals has announced orders for 12 remote-controlled Ship-to-Shore (STS) cranes and 32 Automated Rail-Mounted Gantry Cranes (ARMGs) to equip the new five million TEU* APM Terminals MedPort Tangier facility now under construction at the Tanger-Med II port complex.

Australian Navy Officers Excel with AEGIS Training

Dr. Darrell Tatro, Director, Center for Surface Combat Systems International Programs, presides over the Royal Australia Navy Combat Systems Officer/Prospective Commanding Officer graduation ceremony at the Combat Systems Engineering Development Site. Photo:  Royal Australian Navy

 Royal Australian Navy officers were amongst the first to graduate from the new AEGIS combat systems course delivered at the Combat Systems Engineering Development Site in Moorestown, New Jersey after completing a thorough and rigorous two months of training.     

SENER Unveils FORAN V80R2.0

SENER´s Stand at SMM Hamburg 2016 Photo SENER

The SENER engineering and technology group has taken part in the SMM Hamburg maritime trade fair, one of the most prestigious international meetings in the sector, which is held every two years, on this occasion from September 5 to 9. SENER, staying loyal to a tradition of over 20 years

Second Ship of Franklin Arctic Voyage Found, Canada Confirms

Canada confirmed on Monday it has found the wreck of HMS Terror, the second of two British ships lost in the disastrous Franklin Arctic voyage of 1845, and said the government will work closely with northern aboriginals on ownership of the artifacts.  

Drewry: What Next for THE Alliance?

Photo: Hanjin Shipping

 Hanjin’s bankruptcy leaves the proposed carrier grouping THE Alliance at a size disadvantage to both its future rivals. Might a replacement be called up?    Drewry says that the container shipping industry is in a state of flux at the moment and nobody can honestly say they

India's GSL Delivers Patrol Vessel to Mauritius

Photo: Press Information Bureau, India Govt

 Indo-Mauritian maritime defence Co-operation got another fillip with the delivery of first Fast Patrol Vessel, MCGS VICTORY, designed and built in-house by Goa Shipyard Limited(GSL) for Mauritius Coast Guard, on 26th September 2016 at GSL.   

Cable Ship Rescues 14 Fishermen near Mumbai

The crew deployed on the C.S. Dependable, a transoceanic cable ship from TE SubCom, rescued 14 fisherman in the Arabian Sea off the Maharashtra Coast near Mumbai, India.   Indian fishing boat FV Datta Sai sank on September 17 with 16 persons aboard

Dellner Brakes Introduces Electrical STL System

(Image: Dellner Brakes AB)

Manufacturer of technologically advanced industrial and marine braking systems Dellner Brakes AB has launched what it is calling “the world’s first fully automated, electrical ‘Stop, Turn, Lock’ (eSTL) braking system” at September’s SMM 2016 international marine

Asia Tankers-VLCC Rates Soar on West Africa, MidEast Liftings

File Image: A EuroNav VLCC (credit: EuroNav)

VLCC earnings double in a week. End of force majeure in Nigeria buoys cargo volumes. Freight rates for very large crude carriers (VLCCs) are set to rise further next week, fuelled by a raft of cargoes from West Africa and the Middle East amid tight tonnage supply, ship brokers said on Friday

Russian Shipping Firm Sovcomflot 25 pct Stake Sale May Involve New Shares

The privatisation of a 25 percent stake in Russian state shipping firm Sovcomflot may be equally split between existing and new shares, two sources close to the deal told Reuters on Friday. The stake sale in Sovcomflot, Russia's biggest shipping company whose vessels support offshore oil and

Zim to Defer $115 Million in Debt Payments

A Zim Boxship alongside and working cargo. (Credit: Zim)

Israeli shipping company Zim, which has been hit hard by the weak global shipping market, said on Wednesday it was planning to defer $115 million of upcoming payments to creditors until 2018. Zim said in its second quarter report that it had agreed with some of its creditors to defer payments

PIRA Expects $50-60/barrel Oil from OPEC Deal

The Organization of Oil Exporting Countries' decision to embrace production cuts will help move crude prices toward a target of $50 to $60 per barrel, Gary Ross, chairman of consultancy PIRA Energy Group, told reporters on Wednesday.  

Elektrans, CST & Marine Service to establish Chemtrans

Photo: Elektrans Group

 Elektrans Group has joined hands with German tank operator Chemikalien Seetransport (CST) and the consultancy and engineering company Marine Service GmbH to establish a joint venture -- Chemtrans India Pvt Ltd.    "Elektran Group and a company affiliated to the reputed

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