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.
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
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
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.
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 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.
Kenya is yet to decide whether to turn east Africa's only oil refinery into an oil storage facility or pay for its upgrade after buying the remaining 50 percent stake from India's Essar Energy, the energy minister said on Friday. Fuel distributors have long complained about the poor
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange
A new interactive website has been launched for the DAMEN DOP submersible dredge pump range. The website, www.DOPDredgePumps.com, highlights the versatility of this wear-resistant dredge pump. The DOP pump has been used by the dredging industry around the globe for almost 25 years
Citing “unfavorable current capital market conditions,” Euronav NV announced today that it is postponing its contemplated initial public offering of ordinary shares in the United States and related offer to exchange the company’s outstanding unregistered ordinary shares in
Kuwait said on Wednesday it would ship around two million barrels of crude oil in early October to Egypt, giving it priority as a buyer ahead of sales from storage into the Mediterranean market. The deal for two million barrels a month of Kuwaiti crude was signed this week with the Arab
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month. Earlier yesterday the company reported having delivered its 1991 built General Purpose Product
GasLog Ltd. announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea, to GasLog Partners LP for an aggregate price of $328 million (the “Transaction”)
Iran is not ready to replace Russia as a key gas supplier if sanctions against Tehran are removed, Itar-Tass news agency quoted Iranian President Hassan Rouhani as telling Russian TV channel Rossiya 1. The European Union is quietly increasing the urgency of a plan to import natural gas
Iskes Towing & Salvage has taken delivery of a Damen ASD 3212 tug named Mercurius. To date the Netherlands-based tug operator’s fleet now includes three Damen builds, all built in the last four years. “We used the same leasing option (with Damen) with the Argus
Davao International Container Terminal, Inc.(DICT) located in Panabo City, Davao Del Norte, on the south eastern coast of the Philippines, has bought state-of-the-art Super Cone fenders and Tee Head bollards from Trelleborg. Berths 1 and 2 at the Breakbulk Terminal are old concrete
Glencore approached Rio Tinto about a merger in July. A tie-up would have created the world's biggest miner. No further talks with Glencore after rejecting bid-Rio. Rio Tinto rejected a merger approach from smaller rival Glencore Plc to create a $160 billion mining and trading giant in August
World oil prices resumed a months-long rout on Tuesday to close at their lowest in more than two years, pressured by reduced economic and demand growth forecasts. U.S. crude oil prices fell faster than European Brent, reversing a weeks-long compression in the Brent/WTI spread amid signs that U.S
Schlumberger Ltd, the world's largest oilfield services company, is exploring the sale of its oilfield tools rental unit Thomas Tools, which could be valued at more than $600 million, according to people familiar with the matter. An auction is already underway for Thomas Tools
Regulator sees no competition concerns; Klesch announced purchase in July. EU regulators cleared U.S. entrepreneur Gary Klesch's purchase of the Milford Haven oil refinery on the coast of Wales, the European Commission said in a statement on Friday.
South Korean shipbuilder Samsung Heavy Industries plans to build three Arctic tankers for Russian oil company Gazprom Neft, which has been targeted by Western sanctions, sources familiar with the deal said. The sanctions imposed on Moscow over its role in the crisis in Ukraine have complicated