Bocimar Expands Fleet, Buys 3 Ships

Thursday, March 09, 2006
CMB confirms that its subsidiary Bocimar International has acquired three capesize newbuilding vessels for a total purchase price of $188 million.

The first vessel, SWS 1028 (Shanghai Waigaoqiao Shipyard) - for which Bocimar concluded a three-year time charter contract in April 2005 - is obtained from Teh Hu (Hong Kong). It concerns a 175,000 dwt newbuilding that will be delivered in the third quarter of 2006.

The other two vessels, SWS 1048 and SWS 1049, have been bought from the Golden Ocean group. These two 175,000 dwt newbuilding vessels will be delivered in November 2006 and January 2007. For both vessels a three-year time charter contract has already been concluded with a Japanese and Korean charterer on favourable terms.

The purchase of these two vessels is still subject to the finalisation of the contract documentation.

These new vessels make an ideal addition to Bocimar's current young, modern and rewardingly-valued fleet. This transaction also strengthens the relationship with the Chinese yard SWS as, after the delivery of these three vessels, 10 vessels belonging to Bocimar's fleet will have been built at SWS.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Ukraine Arrests Turkish Cargo Ship Over Crimea Port Call

Ukrainian authorities have arrested a Turkish-owned cargo ship and detained its captain over a visit it made to a port in Crimea after Russian annexed the peninsula from Ukraine last year.

Lack of Ship Definition is a Threat to Investors

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly

Ship Sales

Yachting Malta PPP Sets Sail

Yatching Malta Ltd (YML) - a new public private partnership (PPP) between the government and the Royal Malta Yacht Club (RMYC) was formed with the aim of putting Malta on "the global yachting map".

China Cosco's Profit Up 54%

The Shanghai-and-Hong Kong-listed flagship unit of China Ocean Shipping Group, China Cosco Holdings Co Ltd says that its 2014 net profit went up 54 percent y/y at 362.

Damen joins World Ocean Council

Dutch-based Damen Shipyards Group has become the latest member of the World Ocean Council (WOC).    The global shipbuilder headquartered in the Netherlands is

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1067 sec (9 req/sec)