Vessels For Sale
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
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
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 $5.5 million on this sale. Also, Bocimar and Oak Maritime have concluded an agreement with Chang Myung Shipping (Korea) for the sale of the joint venture vessel Mineral Oak (1996 - 165,693 dwt).
Three major Japanese shipbuilders are forming an alliance on commercial vessels and ocean engineering to survive competition with South Korean shipyards. The three firms -- Ishikawajima-Harima Heavy Industries, Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd will cooperate on joint procurement of materials and design skills for building commercial vessels, aiming to cut production costs. They will decide in one or two years whether to spin off their divisions for
Tsakos Energy Navigation Limited (NYSE: TNP) today announced the sale of the 2001-built aframax tanker Opal Queen to an international operator. The delivery of the vessel to its new owners is expected to take place in February 2011. The capital gain from this sale will be recorded in the first quarter of 2011 while the free cash to be generated will be used for future vessel opportunities. "A young fleet profile and healthy cash reserves to pursue our growth strategy and meet our
In line with its strategy, BOURBON achieves US$ 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 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
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.
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.
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
Royal Caribbean Cruises Ltd, the world's second-largest cruise operator by revenue, reported a 34 percent rise in quarterly profit as passengers spent more onboard and demand rose for its Caribbean cruises. Net income rose to $185 million, or 84 cents per share
French scientific research vessel completely renovated in life extension project The renowned French research vessel, Marion Dufresne II left Damen Shiprepair Dunkerque (part of Damen Shiprepair & Conversion) in northern France on 28 July having recently undergone sea trials and a
Container shipping company Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Great.
French scientific research vessel completely renovated in life extension project. French research vessel Marion Dufresne II left Damen Shiprepair Dunkerque (part of Damen Shiprepair & Conversion) in northern France on July 28 having recently undergone sea trials and a complete renovation.
Yesterday senior representatives of Maersk Supply Service, DeepOcean UK and the Damen Shipyards Group who gathered at Damen Shipyards Galati, Romania witnessed the launching of subsea support vessel Maersk Connector. The vessel is owned and operated by Maersk Supply Service and is built to
Carnival Corporation's new brand Fathom has appointed Michelle Sutter as a company senior sales leader. Sutter will be responsible for marketing and business development supporting sales of the new “social impact travel” brand.
Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to maintain its role as the world's top bunkering hub. The move to issue bunker supplier licences to the gas sector complements the
Diana Containerships Inc. sells Panamax containership, the m/v Cap Domingo Diana Containerships Inc. today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2001-built vessel m/v Cap Domingo
Abu Dhabi Petroleum Ports Operating Company (IRSHAD), a part of the ADNOC Group of Companies, has taken delivery of a Damen Shoalbuster 2308, named Al Marfa 1. During a ceremony at Damen Shipyards Hardinxveld, the Netherlands, the company received the new vessel 3 weeks ahead of schedule
Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services. The company expects to invest more than $30 million in new equipment planned by Horizon prior to its acquisition.
Singapore's Neptune Orient Lines Ltd (NOL) swung to a tiny net profit in its second quarter after six straight quarters of losses but said it had seen severe freight rate erosion. "The group's container shipping business continued to face a challenging environment characterised by
Brazilian mining company Vale SA said on Thursday that it expects to receive $448 million from the sale of four dry-bulk iron ore ships to China's state-owned China Merchants Energy Shipping Co in September. The 400,000-deadweight-tonne ships
Italian oil and gas group Eni is holding discussions with a potential buyer of liquefied natural gas (LNG) supply from its floating export project in Mozambique, an executive said on Thursday. "We are in discussions with a potential buyer, a key term agreement has been finalised
Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v Rotterdam and the m/v Hamburg.
Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales activities as chief commercial officer (CCO). Haeser, a law graduate, is currently managing director of Versatel GmbH