Genco Shipping to Acquire Drybulk Vessels

Wednesday, July 12, 2006
Genco Shipping & Trading Limited announced that the it has agreed to acquire three drybulk vessels from affiliates of Franco Compania Naviera S.A., for an aggregate purchase price of $81.25 million. The acquisition is subject to customary closing conditions and the vessels are expected to be delivered between August and November of 2006. Genco is to finance the acquisition of the three vessels through borrowings on its $550 million revolving credit facility. The three vessels to be acquired are: the Anita, a 1999 Japanese-built Panamax vessel to be renamed the Genco Acheron; the Koby, a 1998 Japanese-built Panamax vessel to be renamed the Genco Surprise; and the Paige, a 1994 Japanese-built Handymax vessel to be renamed the Genco Commander. With the addition of the three vessels, Genco's fleet will consist of seven Panamax, eight Handymax, and five Handysize drybulk carriers, with a total carrying capacity of approximately 1,029,000 dwt and an average age of nine years.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Shipbuilding

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

Ferus Smit to Launch Newbuild Bulker

Ferus Smit will launch newbuild bulk carrier Arklow Breeze on Friday, March 20 at Westerbroek.   Arklow Breeze is the sixth and last vessel of a series to be

Damen ASD 2810 Hybrid Tug Delivered to Multraship

Multraship took delivery of a Damen ASD 2810 Hybrid tug vessel, built at Damen Shipyards Galaţi, in Romania. The delivery is part of Multraship’s fleet expansion program,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators 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: 0.1372 sec (7 req/sec)