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
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
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
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.
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
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 $192 per light displacement tonne delivery India. TWEENDECKER
In accordance with the objectives of the 2003-2007 strategic plan, BOURBON is disposing of its nonmarine service operations and is selling its sugar assets in Vietnam. Following the incorporation of Sucrerie de Bourbon Tay Ninh (Vietnam) as a joint stock company, Bourbon is announcing the sale of 49% of its stake, with a commitment to retain the balance for a period of three years. Firstly, 24% of the shares have been sold today to strategic Vietnamese investors and
New online service by YachtX.com eliminates brokerage commission & simplifies the sales of pleasure boats YachtX, Inc. launch the boating industry's first online yacht exchange. YachtX.com removes the obstacles that have inhibited owner-managed selling of high value boats and yachts – rendering the expense of commission-based yacht brokerage obsolete. Selling a boat is a specialized process. Until now
Interesting week for dry S+P market according to shipbrokers, research analysts, Clarksons The report is as follows: Chinese buyers (Winning Group) have acquired two Capes; the modern M/V REGENA N (180,277 dwt 2006 blt Imabari) at region US$ 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.
While much of the focus on Ballast Water Management issues is on the big ship, blue water fleet, there is a growing large need for BWMS on large modern offshore vessels, too. Hyde Marine has long been active in the worldwide effort to control the spread of aquatic invasive species in ballast water
Edward R. Sacks Named as President of North American Operations On 10 May 2013, International Shipyards Ancona (ISA) announced the grand opening of its North American operations with an office at the Portside Yachting Center on at the 17th Street Causeway in Fort Lauderdale
Nam Cheong International secured sale contracts for an Anchor Handling Towing Supply (AHTS) and four Platform Supply Vessels ( PSV's). The total value of the contracts is $110 million. The 12,000 brake horsepower (bhp) AHTS vessel was sold to a new customer in Indonesia
Experts from the offshore energy industry around the world came together May 6-9 for the 2013 Offshore Technology Conference at Reliant Park in Houston. Attendance at the conference reached a 30-year high of 104,800, the second highest in show history and up 17% from last year.
The Finland PM is hopeful that a strong new owner can turn around the prospects of the cash-strapped Finnish shipyards. This past week, the South Korean parent company STX announced it plans to sell off the Rauma and Turku shipyards as well as its half-share in the Helsinki shipyard
StealthGas Inc., has increased the size of its stock offering, & will sell 10-million shares at $10 each using the proceeds towards purchase of 5 ships. The gross proceeds from the offering before the underwriting discount and other offering expenses are $100,000,000
Foss Maritime Co. will lay off its 60 workers and leave the Columbia River, OregonLive.com reported. OregonLive said the Seattle company will sell its Columbia River business to Tidewater Barge Lines, which moves grain and other cargo along the Columbia-Snake river system
Denmark's TORM agreed to sell five MR product tankers to a company controlled by Oaktree Capital Management as part of an earlier restructuring agreement. The sale is a consequence of the specific option rights, which one bank group exercised in connection with the Restructuring Agreement.
Diana Containerships Inc., a global shipping company specializing in owning and operating containerships, announced that it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 1989-built vessel Maersk Madrid (to be renamed
Bourbon and ICBC Financial Leasing (China) signed an operating lease, framework agreement for up to $1.5 billion (USD) corresponding to the sale and bareboat charter back for 10 years of up to 51 vessels Bourbon is rolling out a transformation plan for its future growth
Ballast water treatment equipment manufacturer Hyde Marine provides systems for all sizes and manners of vessels, but increasingly, the U.S.-based subsidiary of Calgon Carbon Company is being recognized for its work with offshore operators – here and abroad.
Otto Marine's shipyard has sold the multi-purpose offshore support vessel 'Otto Explorer 3' to RY Offshore Ltd. for about US$ 50-million. Upon completion of the sale, the buyer will charter the vessel to the Ottto Marine Group subsidiary, Go Marine Group Pty Ltd
A dry bulk carrier has been delivered to the buyers & the contract for sale of a product carrier tankship has also been signed. The Great EasternShipping Company Ltd. (G E Shipping) has delivered its 1995 built Panamax dry bulk carrier Jag Arnav (about 71,000 dwt) to undisclosed buyers.
The 'SS United States' is sending out what may be its final distress call. The conservancy working to secure a home and purpose for the 990-foot-long ship tells the Associated Press that it could be sold for scrap within two months unless they can raise $500
The National Shipping Company of Saudi Arabia (Bahri) sells 'Saudi Diriyah' for recycling. The sale of the general purpose cargo vessel raised the sum of SAR. 30,257,136 generating a net gain of SAR 19,523,391 after deducting its book value and all expenses associated with the sale.