Marine link

Vessels For Sale

Bourbon 2009 Financial Results

For 2009, Bourbon reported robust earnings driven by the growth of the Offshore Division. EBITDA excluding capital gains was up 9.4%. “The 2009 results illustrate the good increase of the offshore activity due to the growth of the fleet and to its utilization rate, which remains high despite the market downturn during the year,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. “Net income group share reached a satisfactory level compared with 2008, when capital gains on sales of vessels and sales on equity interests were recorded.” Revenue growth for the year reflected two contrasting changes: - The strong growth in Offshore Division revenues (+20.5%), helped in particular by favorable exchange rates. - The sharp decline in Bulk Division revenues, due to the change in charter rates. Excluding capital gains, gross operating income (EBITDA) reached €346.3 million for the year, i.e. an increase of 9.4% for the group. The EBITDA of the Offshore Division alone grew by €70.8 million i.e. plus 29.4%. Gross operating income (EBITDA) was nearly stable at €347.5 million after taking into account very high capital gains recorded in 2008. Operating income came to €213.1 million, down 10.9% compared with 2008 when the Bulk Division posted a historically high performance essentially attributable to capital gains on sales

Bourbon 2009 Financial Results

For 2009, Bourbon reported robust earnings driven by the growth of the Offshore Division. EBITDA excluding capital gains was up 9.4%. “The 2009 results illustrate the good increase of the offshore activity due to the growth of the fleet and to its utilization rate, which remains high despite the market downturn during the year,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon

Blue Star Maritime to Sell Catamaran

Greece's Blue Star Maritime SA said it signed an agreement to sell its catamaran Seajet 2 for $3.6M to the Sea Jet II Shipping Co The delivery of the vessel is expected to take place by the end of March. Part of the sale price will be paid when the vessel is delivered, while the credited amount of $3M will be paid in monthly instalments until September 2006. Blue Star said the vessel sale is part of its policy to focus on the operation of fast, modern, conventional vessels.

CMB Continues Fleet Rejuvenation

CMB confirmed that its subsidiary, Bocimar and Wah Kwong, have sold the panamax vessel Yasmine Venture (2006 - 73,546 dwt) - ordered in joint venture in 2003 from Jiangnan (China) - to Diana Shipping. The net sale price amounts to $39.6 million, and CMB will realize a capital gain of approximately $5.5 million on this sale. Also, Bocimar and Oak Maritime have concluded an agreement with Chang Myung Shipping (Korea) for the sale of the joint venture vessel Mineral Oak (1996 - 165,693 dwt).

Japanese Yards Form Alliance

Three major Japanese shipbuilders are forming an alliance on commercial vessels and ocean engineering to survive competition with South Korean shipyards. The three firms -- Ishikawajima-Harima Heavy Industries, Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd will cooperate on joint procurement of materials and design skills for building commercial vessels, aiming to cut production costs. They will decide in one or two years whether to spin off their divisions for

Bourbon Achieves $770m USD in Vessel Sales in 2013

Photo:  Bourbon

In line with its strategy, BOURBON achieves US$ 770 million of vessel sales in 2013. Bourbon has sold 12 additional vessels to ICBC Financial Leasing for US$ 378 million and concluded a new sale and bareboat charter agreement with Standard Chartered Bank for US$ 150 million. They also announced the transfer of ownership of 12 vessels to the Chinese company ICBC Financial Leasing ("ICBCL") for a total value of approximately US$ 378 million

Knight & Carver Promotes LoCoco to VP

Knight & Carver YachtCenter has promoted Giovanni LoCoco to the newly created position of Vice President/Operations. The announcement was made by Sampson A. Brown, the boat-building company’s president/chief executive officer. LoCoco, who has been with Knight & Carver for 19 years, now oversees all three divisions – new-vessel construction, vessel repair/refits/repowers and wind-turbine blade manufacture and repair. A native San Diegan, Mr

TEN Announces Sale of the Panamax Bregen

Tsakos Energy Navigation Ltd. (TEN) announced the sale of the 1989-built double hull Panamax tanker Bregen. Following the sale of 1987-built Crux and 1988- built Libra during the third quarter of 2006, the sale of the Bregen represents the disposition of the last remaining 1980's built tanker in the Company's fleet. The vessel will be delivered to its] new owners in the first quarter of 2007, and as a result of the sale, TEN] will recognize a capital gain of $5 million at that time.

TEN Sells Aframax Tanker Opal Queen

Tsakos Energy Navigation Limited (NYSE: TNP) today announced the sale of the 2001-built aframax tanker Opal Queen to an international operator. The delivery of the vessel to its new owners is expected to take place in February 2011. The capital gain from this sale will be recorded in the first quarter of 2011 while the free cash to be generated will be used for future vessel opportunities. "A young fleet profile and healthy cash reserves to pursue our growth strategy and meet our

Scorpio Tankers Sell One Accept New One

Scorpio Tankers Inc. announce sale of the 'STI Diamond', accept delivery of newbuild 'STI Topaz'. The Company completed the sale of the 'STI Diamond' and sale of a second vessel, the STI Coral, is expected to be completed in September 2012. Scorpio took delivery of the STI Topaz, the second of ten vessels scheduled for delivery under its newbuilding program. Upon delivery, the vessel began a time charter for up to 120 days at $16

SSI Hires Holder for US Sales

SSI has hired CAD/CAM specialist Robert Holder as part of its sales force in the U.S. market.    According to SSI, the hiring is intended to meet the expanding demand for SSI's design and manufacturing solutions in the shipbuilding and offshore industries.  

Royston Appoints New US Distributor

Photo: Royston

Diesel power engineering specialist Royston has appoint a new U.S.-based distributor, citing growing interest in its advanced Enginei marine fuel management and monitoring systems.   The Houma, La.-based Bow 2 Stern Technologies LLC will provide sales and technical service support for the

Evoqua, Drew Marine Ink BWMS Deal

SeaCURE BWMS is backed up by the very best field service and support Courtesy Evoqu

  Evoqua Water Technologies and maritime solutions and logistics expert, Drew Marine, have announced a partnership to provide a full compliance package for ballast water management. The collaboration brings together Evoqua’s technology and Drew Marine’s engineering

Windrock Names Kelleher Global Business Development Manager

Edward P. Kelleher, Global Business Development Manager – Diesel

Edward P. Kelleher will be assuming the new role of Global Business Development Manager – Diesel, effective December 1st.   In this role, Mr. Kelleher will be leading the effort in developing a global distribution network, growing the Windrock Inc business in the marine industry and

SAFE Boats' Riverine Interceptor for Colombia

Courtesy SAFE Boats International

SAFE Boats International has been selected by the Colombian Navy/Coast Guard to build its new Type-F Riverine Interceptor Vessel.   The contract will provide the Colombian Navy/Coast Guard with a state-of-the-art, shallow draft, aluminum high speed intercept vessel designed to provide

Barnett Promoted to Director, Holland America Line

Amy Barnett Director Division Sales

Holland America Line has promoted Amy Barnett to the position of division sales director for the East.   In her new role, she will be responsible for planning, organizing and directing sales programs, as well as analyzing and implementing strategic and tactical initiatives to increase sales

CMA CGM Slowed by Rates, Sees 2016 Recovery

The containership CMA CGM Marco Polo underway (file image)

France's CMA CGM, the world's third-largest container shipping firm, said freight rates should recover next year after a market downturn led to a sharp fall in its third-quarter profits.   The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk

Honeywell to Automate Finland's First LNG Terminal

The liquid natural gas terminal under construction in Finland. Image credit: SkanGas

 Honeywell has announced that it has received a contract to supply its Experion Process Knowledge System (PKS) automation controls and tank gauging systems for Finland’s first LNG import terminal.   The new terminal will efficiently supply natural gas to marine vessels and

Wärtsilä Design & Propulsion Machinery for Pelagic Trawler

The Wärtsilä controllable pitch propeller

  A new pelagic fishing trawler ordered by Scottish owner Mewstead LLP will be built according to a Wärtsilä design and will feature a broad scope of Wärtsilä propulsion machinery. The ship is to be built at the Nauta Shipyard in Poland and when completed will be the

VIKING, PVA Join Forces for New USCG Safety Compliancy

VIKING Americas VP, Al Osle

  Coastal vessel operators trying to come to terms with upgraded US Coast Guard regulations for survival craft have been helped along the way by VIKING at the annual Passenger Vessel Association and U.S. Coast Guard Industry Day in Miami.  

Golden Ocean CEO: No Share Issue

Dry bulk shipping firm Golden Ocean Group said on Tuesday it did not consider an equity issue to improve its liquidity and balance sheet following challenging markets conditions. "We are not considering equity issue. We are working on other options, including sale and leaseback

MAN Selects Rud to Head PrimeServ Diesel

MAN Diesel & Turbo’s executive board has appointed Per Rud as the new head of PrimeServ Diesel.   Rud will assume his new role on January 1, 2016 and takes over from Wayne Jones, who will join the executive board as the new chief sales officer.  

Maritime Cook Islands Expands Network to India

  Maritime Cook Islands (“MCI”), the leading ship registry, has recently established its presence in India with the appointment of two deputy registrars (“DR”), Mr Faust Pinto Jr and Ms Fereshte D Sethna, to serve the growing yacht owning community in the Indian

BTӦ Orders Damen ASD Tug

Photo courtesy of Damen Shipyards

Sweden-based BogserTeam Ӧresund (BTӦ), part of MarCon gruppen, recently signed a contract with the Damen Shipyards Group for the delivery of a Damen ASD Tug 2810. MarCon gruppen is currently experiencing growth and is undertaking a program of renewal and expansion to its fleets.

Scripps Sells Oceanographic Research Vessel

New Horizon (Photo: Marcon International)

Purpose-built oceanographic research and survey vessel New Horizon has been sold from the Scripps Institute of Oceanography to private interests, announced ship broker Marcon International, Inc.   New Horizon will continue to work under her new ownership as a U.S

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright