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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:


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


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


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


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.


Reps. Wittman and Palazzo Visit Ingalls Shipbuilding Division

Rep. Rob Wittman Visits Ingalls Shipbuilding

Huntington Ingalls Industries’ (NYSE:HII) Ingalls Shipbuilding division hosted Reps. Rob Wittman, R-Va., and Steven Palazzo, R-Miss., on Wednesday for a tour of the shipyard, which included ships under construction at Ingalls. “Today was an informative visit to Ingalls


Philippines Putting Energy-Efficient Shipping on the Curriculum

Photo: International Maritime Organization (IMO)

 The Philippines is the latest country to receive International Maritime Organization (IMO)  support to promote energy-efficient ship operation.    A workshop taking place in Manila (23-24 February) is equipping 30 maritime educators from across the country with the knowledge


MOL (America) Announces December KPI Results

Table Courtesy MOL Liner

MOL Liner Ltd. announces the December 2016 results of Regional Key Performance Indicators (KPI) in the Americas in the following categories:  customer service, and electronic data interchange (EDI). The results are available on a monthly basis and posted in greater detail at www.CountOnMOL.com


ABB’s OCTOPUS for four semi-submersible vessels

Juha Koskela, Managing Director. Photo ABB Marine and Ports

ABB’s OCTOPUS marine software will improve the safety and efficiency of four new semi-submersible heavy lift vessels, using weather and loading data to plot the optimal route. The ships, owned by Greenland Heavylift Holdings, will transport gigantic cargoes such as oil rigs and jack-up rigs


Damen: First SIGMA PKR frigate for Indonesian Navy

SIGMA 10514 PKR frigate Photo Damen

Damen Schelde Naval Shipbuilding has handed over the first SIGMA 10514 PerusakKawalRudal(PKR) frigate to the Indonesian Ministry of Defence, on schedule and on budget. The ceremony took place at the PT PAL shipyard in Surabaya where the vessel was assembled.


Tulsa (LCS 16) to be Christened

Courtesy Austal

Austal will host The Honorable Kathy Taylor, ship sponsor, for the christening of the Tulsa (LCS 16) at its Mobile, Ala. shipyard, Feb. 11. Taylor was Tulsa’s 38th Mayor and is currently Chief of Economic Development for Tulsa’s sitting Mayor, G.T. Bynum


Retired Ferry Gets a New Lease on Life

Hiyu (Photo: Washington State Department of Transportation)

A 50-year-old retired Washington State passenger ferry will get a refit, and with it another life as a floating entertainment space.   Washington State Ferries (WSF) has sold its smallest retired ferry, Hiyu, for $150,000 to Menagerie Inc


Asia Dry Bulk-Capesize Rates could Diverge on Market Conditions

File Image (CREDIT: AdobeStock)

Australia-China rates could climb on improved weather. Brazil-China rates to hold steady, fall on lack of charters.   Freight rates for large capesize dry cargo vessels on key Asian routes could diverge next week with rates from Australia to China rebounding on improved weather


Murphy Takes Up Role as Chief Executive of IBIA

Justin Murphy (Photo: IBIA)

The International Bunker Industry Association (IBIA) has introduced its new Chief Executive, Justin Murphy, who akes up his new position from February 13, 2017. From 2013 to 2015, Murphy was CEO of Brightoil Shipping, Singapore and Executive Director at HKSE listed Brightoil Petroleum


Improved Demand Easing Dry Bulk Vessel Oversupply

An impressive outlook for dry bulk demand coupled with a small orderbook of newbuilds Drewry

With contraction in vessel supply and healthy demand growth, the dry bulk shipping market is expected to recover from 2017 onwards, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.


Ship Design and Construction Matters

Photo: International Maritime Organization (IMO)

 ​The Sub-Committee on Ship Design and Construction (SDC) meets for its fourth session this week (13-17 February).    Key topics on the agenda include the expected finalization of draft explanatory notes to the SOLAS chapter II-1 subdivision and damage stability regulations and


IMO Secretary-General Visits Antarctica

Photo: International Maritime Organization (IMO)

International Maritime Organization (IMO) Secretary-General Kitack Lim experienced polar conditions at first hand during a recent visit to Antarctica (8-12 February).    Shipping in waters surrounding the two poles has increased in recent years


VBMS awarded EnBW Hohe See cabling contract

Photo Royal Boskalis Westminster N.V

Royal Boskalis Westminster N.V. (Boskalis) announces that its subsidiary VBMS has been awarded an inter-array cabling contract with a value of approximately EUR 80 million by EnBW Hohe See GmbH & Co.KG for the 500 MW EnBW Hohe See Offshore Wind Farm


Navy Handed Over Seychelles Ship Topaz After Refit

Topaz. Photo: Indian Navy

 Seychelles Coast Guard Patrol Ship (SCGPS) Topaz has completed her Medium Refit and has been handed over to Colonel Simone A Dine, Commander Seychelles Coast Guard by Rear Admiral Narayan Prasad, NM, Admiral Superintendent, Naval Dockyard, Visakhapatnam on 16 February 2017.   


Indiana Ports set Quarterly Tonnage Record

The port of Indiana, Jeffersonville (Photo: Ports of Indiana)

The Ports of Indiana handled nearly 3.9 million tons of cargo during the fourth quarter of 2016, the highest quarterly shipment total in the organization's 55-year history.   The total surpassed the ports' previous quarterly record set in the second quarter of 2015 by 300,000 tons






 
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