Diana Shipping Inc., bought a big ship currently under construction in China for $110 million. Athens, Greece-based Diana Shipping expects to take delivery of the Capesize-class vessel from Shanghai Waigaoqiao Shipbuilding Co. in November. Capesize-class ships are vessels too large to traverse either the Suez Canal or Panama Canal. Diana Shipping said it is seeking long-term employment for the tanker. The acquisition will decrease the average age of the company's fleet to 3 years and raise its total cargo carrying capacity to about 1.7 million tons, the company said. Source: AP
According to reports, Teekay Shipping Corp., said one of its subsidiaries bought a 40 percent stake in Norwegian oil services provider Petrojarl ASA. Financial terms were not disclosed. Under Norwegian law Bahamas-based Teekay must bid for the remainder of the company in the next four weeks Petrojarl owns and operates four Floating Production Storage and Offloading units in the North Sea. These are ships that process and store oil or gas from nearby drilling platforms until the
Hong Kong-listed China Shipping Development Co. agreed to buy eight oil tankers for $556m from two Chinese shipbuilders. According to Yahoo! News, China Shipping Development, a unit of state-owned China Shipping (Group) Co., said it would buy four oil tankers for $408m from Dalian Shipbuilding Industry Ltd. It said the four vessels would enter operations between June and December 2009. China Shipping Development also said it would buy four oil tankers for $148m from Guangzhou Shipyard
Shipping giant Evergreen Marine signed a letter of intent to buy five large cargo ships from Japan's Mitsubishi Heavy Industry. A spokeswoman for the Taiwan shipping firm said it was negotiating to buy 6,300-6,400 TEU ships from the Japanese firm. She said Evergreen would aim to take delivery of the ships by 2002 but further details, such as the price of the vessels, had not been settled.
North Sea supply specialist Fletcher Shipping buys 'FS Taurus' its third vessel in five years. Currently operating in the Forties section of the North Sea, Taurus will take the total number of employees at Fletcher to 90. Set up in 2007 with backing from the Royal Bank of Scotland, the company transports food, equipment and other supplies to offshore oil and gas operators, reports 'The Scotsman'. The purchase of the Taurus – a 2
The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at the buying end of 43% of all bulker sales completed so far in 2014. As of June 2014, the number of Greek bulker purchases so far is 91, compared to 81 for the full year of 2012. The level of activity seen so far in 2014 would suggest Greek owners are on target to top the 199 bulker purchases completed in 2013.
Frontline has through market purchases executed July 2, 2001 bought back 125,000 of the company's common shares, at a price of NOK 164.09. Total number of outstanding shares after this is 76,787,566. The shares acquired are done so in accordance with a Board authorization to buy back shares.
According to a July 20 report from UPI.com, the Congressional Budget Office said joining U.S. Navy and Coast Guard programs regarding procurement of small surface ships wouldn't necessarily improve cost efficiencies over current buying processes. With the Navy and Coast Guard looking to buy a total of 83 smaller vessels, CBO was asked by Senate Banking Committee member Judd Gregg, R-N.H., to examine alternatives that would perhaps allow the services to consolidate small combatant programs.
Great Eastern Shipping Company signs contract to buy a 1990-built Very Large Gas Carrier (VLGC) The Great Eastern Shipping Company Limited (G E Shipping) has signed contract to buy a Very Large Gas Carrier (VLGC) of about 49,700 dwt (75,000 cbm). The 1990-built vessel is expected to join the Company’s fleet during Q2FY2013. The Company’s current fleet stands at 32 vessels, comprising 22 tankers (9 crude carriers, 13 product carriers) and 10 dry bulk carriers (1 Capesize
The Bristol Ferry Boat Company went into administration last November, and needed to raise £250,000 from investors by 31 July, but it surpassed that target, topping £300,000. According to BBC News, citing ferry boss Ian Bunguard, more than 600 people had bought the shares - starting at £100 - with many being bought by people living in the city, and the ferry was now in a very strong position.
The Long Beach Board of Harbor Commissioners – seeking to expand opportunities for a wider range of vendors, contractors and consultants – has set a higher goal for the Port of Long Beach to buy goods and services from small and very small businesses.
The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas. On Monday, a U.S. district court ruled in favour of a request by Iraq's Kurdish region that a demand by
Venezuela's state-run PDVSA has put on hold its plans to export diluted crude oil (DCO) in October as the company reviews production costs that have risen on imports of costly naphtha that it uses to mix with its extra heavy crude, traders told Reuters on Friday.
China plans to roll out its national market for carbon permit trading in 2016, an official said Sunday, adding that the government is close to finalising rules for what will be the world's biggest emissions trading scheme. The world's biggest-emitting nation
Costa Rica's refining company Recope has launched a tender to buy two 90,000-100,000 barrel cargos of fuel oil for delivery from September to December at Port Caldera, according to a document seen by Reuters on Friday. Previously this month, Recope bought three 25,000 barrel cargoes of MTBE
Shares rise 5 pct after improved guidance, better quarter than expected. Maersk indicates more buybacks after first in its history. Efficiency, cost savings boost Maersk Line compared to rivals. Denmark's A.P. Moller-Maersk announced the first share buy-back in its 110-year history on Tuesday
Russian oil major Lukoil has emerged as one of the first companies to buy Canadian crude re-exported from a U.S. port, shipping one cargo last month to its refinery in Augusta, Italy, data showed on Tuesday. A 445,000-barrel cargo of Canadian Sour grade loaded on the Sifnos
The series highlighting the world's most expensive active vessels from online ship intelligence and information service VesselsValue.com focuses this week on the most expensive tanker vessel, which is not a VLCC but a Jones Act aframax. The first-in-class double hull tanker Liberty Bay is an
Jim McColl, one of Scotland's richest men, has tabled a bid to rescue collapsed Clyde shipbuilder Ferguson and aims to return the yard to its former glory by creating hundreds of jobs, according to HeraldScotland. The engineering tycoon, who saved about 550 jobs at Weir Pumps in Glasgow in 2007
With effect from the first departure on Saturday 30 August 2014, Hong Kong's “Wan Chai – Tsim Sha Tsui” ferry service will operate from the new Wan Chai Ferry Pier. The existing Wan Chai (East) ferry Pier will be closed simultaneously, informs the Star Ferry Company. Star Ferry
Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die Welt reported on its website on Friday, citing industry sources. Aerospace and defence group Airbus - then called EADS - and German
M&A (Merger & Acquisition) activity in the US container terminal sector is currently at its highest level since the boom time of the mid-2000s. However, whilst the type of buyer is largely similar to what it was, the rationale for pursuing today’s deals is different
A tanker carrying 300,000 barrels of Kurdish crude oil has changed its destination to Limassol, Cyprus, as it returned from the United States without delivering its disputed cargo to a New Jersey refiner. The Minerva Joy tanker had previously listed its destination as "Gibraltar orders
In the period from 18 August up to and including 22 August, Royal Boskalis Westminster N.V. (Boskalis) repurchased 150,500 of its own shares at an average price of EUR 41.5715 per share for a total consideration of EUR 6,256,515.50 million.
Korea Gas Corp. has approached long-term suppliers of liquefied natural gas (LNG) to defer up to 10 autumn cargos to winter, showing it is lumbered with excess supply and pulling out of spot markets, industry sources said. High stocks and weak demand prompted state-run Kogas