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Ship Buy

Diana Shipping Buys Vessel for $110M

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


Teekay Shipping Buys Stake in Petrojarl

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


Scotland's Fletcher Shipping Snaps Up PSV

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


Evergreen To Buy Five Ships From MHI

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.


BIMCO: Greek Shipowners Prefer Bulkers

BIMCO Greek Bulkers.jpg

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.


China Shipping Devt To Buy Eight Oil Tankers

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


Indian Company to Buy VLGC

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


Combining Navy & CG Purchasing Considered

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.


News Flash! Greek Shipowners Prefer Bulkers

BIMCO Greek Bulkers (Eric Haun).jpg

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


UK Ferry Service Saved by the Community

Ferry Brigantia: Photo courtesy of Bristol Ferry Co.

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.


China's COSCO Group Returns to Profit

Logo

China Ocean Shipping Group Co (COSCO) returned to profit in 2014 after three years of losses, state media said on Saturday, citing an interview with the group's chairman. The state-backed shipping conglomerate, which controls China COSCO Holdings Co Ltd , had a profit of 5.04 billion yuan ($809


Tepco, Chubu Buying 6 LNG cargoes from Vitol

Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender, three traders said on Friday. "They are waiting for the government to confirm


US Boating On High Speed Recovery

 Picture: National Marine Manufacturers Association

 Nearly 89 million Americans went boating last year, one of the largest boating participation figures on record. And the boat sales last year increased to $37 billion, a 3 percent increase from the year before. These figures are released by the National Marine Manufacturers Association


Bunker Throughput up in Rotterdam Port

The biggest containership of the world – bunkered in Rotterdam

Bunkering rose again for the first time since 2011 in Rotterdam, the biggest bunker port of Europe: 10.6 million tonnes compared to 10.4 in 2013. The whole of the increase is accounted for by marine gas oil and diesel; sales rose from 500,000 to almost 700,000 tonnes


Alaska: No Rush for Canada Ferry Project Resolution

Alaska can use an existing British Columbia ferry terminal for several more years if Canada enforces an order blocking so-called "Buy America" purchasing rules from being applied to its reconstruction, a state official said on Tuesday.


NZ Manufacturer Bags Anchor Supply Deal

Para Sea Anchor testing with the U.S Navy off the Coast of San Diego (Image by Coppins Para Sea Anchors)

New Zealand maritime manufacturer Coppins Para Sea Anchors has secured a multimillion-dollar contract to supply anchors to a Norwegian salvage company.    The family business firm based in Motueka on the South Island has sent the first of two one-tonne sea anchors to the Norwegian


Ottawa Bars Use of 'Buy America' Rules at Ferry Project in Canada

The Canadian government signed an order on Monday blocking the United States from applying controversial "Buy America" purchasing rules on the demolition and reconstruction of a ferry terminal that is located on Canada's Pacific Coast but operated by Alaska's Department of Transportation


First Satorp Diesel Cargos to US Will Land This Week

The first United States-bound cargoes of diesel from Saudi Arabia's 400,000 barrel per day Satorp refinery will land in New York early this week, traders said on Monday.   The cargoes of 10 ppm diesel on the SKS Driva and the Clio are scheduled to land in New York on Jan


COSCO Gets $1.75 bln Loan to Buy Ships

China Ocean Shipping (Group) Company has received a $1.75 billion loan from the Export-Import Bank of China to buy 53 new ships, which it plans to order from Chinese shipyards, the firm said on Monday. The state-backed shipping conglomerate, which controls China COSCO Holdings Co Ltd


Russia Offers Indonesia Type 636 Submarines

Image: Indonesian Navy

Russian government has approached the Indonesian government to offer Kilo Class Type 636 submarines to bolster the country’s maritime defense system, reports Jakarta Post.   Russian ambassador MY Galuzin had met with Defense Minister Ryamizard Ryacudu to discuss military and


COSCOL Profit Jumps

Courtesy: COSCOL

Shanghai Stock Exchange-listed COSCO Shipping Company Limited (COSCOL) says its profits shot up 491% year on year (y/y) to CNY193M ($31M) in 2014. Revenue improved 3% year-on-year.  The results also boosted by government subsidies and benefitted from cost cutting measures


US Navy Eyes Next LCS Contracts in Q1

Littoral combat ships USS Independence (LCS 2) and USS Coronado (LCS 4). (U.S. Navy photo by Keith DeVinney)

The U.S. Navy plans to award contracts before the end of the first quarter to Lockheed Martin Corp and Australia's Austal for its next three Littoral Combat Ships (LCS) as well as money to buy materials for a fourth, Navy officials said Thursday.  


US Navy Sees Competition for Next Amphibious Ship

LPD-17 (Photo courtesy: Huntington Ingalls)

The U.S. Navy will insist on competition for the next U.S. amphibious warship despite a decision last year to base the ship on the LPD-17 ship designed by Huntington Ingalls Industries Inc, Marine Corps Major General Robert Walsh said on Tuesday.


Condor Ferries Sells 2 Vessels to Greek Firm

 Condor Express (Image courtesy: Condor Ferries)

Condor Ferries has confirmed it is selling two ferries - Condor Vitesse and Condor Express - to make way for the new super ferry.  The vessels, built in Tasmania in 1997 and 1998, have been sold to Greek firm Seajets for an undisclosed sum


Prestige Cruises Withdraws IPO Plan

Regent Seven Seas Cruises

Prestige Cruises International Inc, which was bought by Norwegian Cruise Line Holdings Ltd in a $3 billion deal in September, filed with U.S. regulators to withdraw its plan for an initial public offering. Prestige Cruises, which operates under the Oceania and Regent Seven Seas brands in the






 
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