ThyssenKrupp AG will reportedly gain more than $350 million from the sale of its Krupp Seeschiffahrt shipping unit. The unit, which has annual turnover of about $200 million, will be sold to General Ore Intl., which is a U.S. based company. - (Reuters)
The European Union and South Korea said last week that they had reached an agreement aimed at allaying European concerns that South Korean shipyards charged unfairly low prices. The EU and South Korea have held several rounds of talks in the last few months after the EU accused South Korea of using western subsidies to sell ships at below construction cost and of putting European rivals out of business. EU and South Korea said in a joint statement that they had reached an agreement which aims
The European Union is considering taking action against South Korea under the World Trade Organization, accusing the country of using western subsidies to sell ships at below construction cost and putting European rivals out of business. "The sector is facing a critical situation worldwide with very low prices and a serious overcapacity caused by the Republic of Korea," EU industry ministers said after a regular meeting where they discussed a European Commission report on the world
A multinational shipping firm that has signed a deal to have its ships built at an Indian shipyard, which is still under construction, has already sold the ships, an indication of growing demand for ocean-going vessels. This is the first time such a thing is happening at an Indian shipyard. The yard, Pipavav Shipyard Ltd, is under construction and will not start building ships before February 2008. On 19 March, the Bermuda-based Golden Ocean Group Ltd
Shipsales Some of these sales may not be final – (Reuters) . BULKERS Western Team - (built 1984) 43,296 dwt sold to Greek buyers for $6.9 million. Lara - (built 1985) 8,517 dwt sold to Italian buyers for $2.1 million. Lady Danielle - (built 1978) 21,310 dwt sold to U.S. based buyers for $1.4 million. SOLD FOR DEMOLITION BULKERS Hellenic Confidence - (built 1977) 17,616 dwt sold for $192 per light displacement tonne delivery India. TWEENDECKER
Odfjell has entered into an agreement to sell the coated parcel tanker MT Bow Maasslot (38,039 dwt/built 1982) for recycling in India by the end of January 2010. The sales price is close to the book value. The vessel has Green Passport and buyers undertake that the recycling yard shall submit a working plan corresponding to IMO guidelines for ship recycling.
In accordance with the objectives of the 2003-2007 strategic plan, BOURBON is disposing of its nonmarine service operations and is selling its sugar assets in Vietnam. Following the incorporation of Sucrerie de Bourbon Tay Ninh (Vietnam) as a joint stock company, Bourbon is announcing the sale of 49% of its stake, with a commitment to retain the balance for a period of three years. Firstly, 24% of the shares have been sold today to strategic Vietnamese investors and
BULKERS Molat - (built 1977) 37,836 dwt sold for $1 million. Sea Resource - (built 1977) 27,000 dwt sold to Taiwanese buyers for $1.35 million. Neptune Akabar - (built 1986) 21,650 dwt sold to Chinese buyers for $5.3 million. Top Concord - (built 1984) 21,362 dwt sold for $4.25 million. Bravo - (built 1988) 15,900 dwt sold at auction for $950,000 with delivery as is laid up in Immingham. Alpha Accord - (built 1985) 7,015 dwt sold for $1.7 million. TANKERS
Interesting week for dry S+P market according to shipbrokers, research analysts, Clarksons The report is as follows: Chinese buyers (Winning Group) have acquired two Capes; the modern M/V REGENA N (180,277 dwt 2006 blt Imabari) at region US$ 33.9m and the vintage M/V CAPE AMERICA (149,515 dwt 1991 blt CSBC) at US$ 8.5m. On another sale, undisclosed Greek buyers acquired the M/V IRON YANDI (169,963 dwt 1996 blt Daewoo) at US$ 13.5m.
New online service by YachtX.com eliminates brokerage commission & simplifies the sales of pleasure boats YachtX, Inc. launch the boating industry's first online yacht exchange. YachtX.com removes the obstacles that have inhibited owner-managed selling of high value boats and yachts – rendering the expense of commission-based yacht brokerage obsolete. Selling a boat is a specialized process. Until now
Acting on a request from the central government in Iraq, a U.S. judge has signed an order telling the U.S. Marshals Service to seize a cargo of oil from Iraqi Kurdistan aboard a tanker off the coast of Texas, court filings showed early on Tuesday.
Iraq's Kurdish region has the right to keep selling oil as long as the Baghdad government keeps cutting its budget, the head of the Kurdish parliament's energy committee said on Tuesday, as an oil cargo off Texas was set to be seized at Baghdad's request.
Iraqi Kurdistan's attempts to export oil independently of Baghdad hit another obstacle on Wednesday, as a Turkish energy official and industry sources said the autonomous region's pipeline to the Mediterranean has been shut for the past week.
Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector. The sale of Rio Tinto Coal Mozambique to International Coal Ventures Private
A powerful new software upgrade is available for the Simrad AP70 and AP80 Autopilots. The upgrade is currently available as a free download and installed on all new systems sold. Continuing to build upon a legacy of state-of-the-art, high-performance autopilots
A U.S. energy company has found a second buyer in Japan for its condensate, an ultra-light oil, paving the way for more excess barrels from the United States to head to Asia to meet growing demand. Enterprise Product Partners has signed a short-term contract to sell condensate to Japanese
Libya will not be able to export oil through its two largest eastern ports before August, due to safety checks after a near year-long closure, a senior oil official said on Wednesday. The latest twist in a spiral of violence also casts a shadow over the vital deal two weeks ago to end the
A joint venture of five industrial auction companies will sell the physical assets of the 300-acre McDermott fabrication facility in Amelia, La. McDermott continues to operate its other fabrication facilities at multiple locations worldwide.
Angarsk Petrochemical Company, a part of Rosneft processing cluster, has shipped the first lot of Premium-95 fuel compliant with the Euro-5 standard. The production of Euro-5 fuel was provided by the investment program realization on full-scale modernization of the enterprise
Teekay LNG Partners L.P. has announced that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units
Trans Marine Propulsion Systems, Inc. (TMPS) announced that Chuck Kissee has joined its leadership team as the Director of Business Development to support Anglo Belgian Corporation (ABC) diesel engine sales. "TMPS is excited to have Chuck leading our expansion in our diesel engine sales
British Prime Minister David Cameron on Monday questioned France's plan to sell Mistral helicopter carriers to Russia, saying fulfilling such an order would be unthinkable in Britain after the downing of the Malaysian Airlines plane in Ukraine.
Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said it would sell a big U.S. container terminal to infrastructure investor Alinda Capital Partners and a British private pension fund. The companies, in a joint statement on Tuesday
Ship Finance International Limited (SFL) announced that it has agreed to sell the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce to an unrelated third party. The company has simultaneously agreed to terminate the corresponding charter parties with a subsidiary of Frontline Ltd
Danaos Corporation ("Danaos") (NYSE: DAC), a leading international owner of containerships, today reported unaudited results for the period ended June 30, 2014. Highlights for the Second Quarter and Half Year Ended June 30, 2014: