Global Oceanic Carriers Acquires Bulk Carrier

Tuesday, July 10, 2007
Global Oceanic Carriers Limited, a global provider of marine transportation services for dry bulk cargoes, announces today that the company has entered into an agreement to purchase a Handymax vessel charter-free for $37m. The vessel, acquired from ABG Shipping Limited will be renamed to M/V “GO Friendship” and is scheduled for delivery in August 2007. The M/V GO Friendship was built in Korea in 1994 and has a carrying capacity of 44,875 dwt. The company intends to finance this acquisition with banking facilities. Upon delivery, the M/V GO Friendship will operate under a fixed-rate period time charter for 3 years with Samsun Global Corp. $26,850 per day. The company’s current fleet includes five dry bulk carriers, comprised of one Capesize, two Panamax, one Handymax and one Handysize vessel, and, as already announced, has entered into two agreements to acquire two Handymax vessels scheduled for delivery in August (GO Friendship) and October (GO Star) 2007, expanding its fleet to a total of seven dry bulk carriers with an aggregate carrying capacity of 456,273 dwt.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Asia Dry Bulk-Capesize Rates Mixed on Uncertainty

Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come

HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter.

CSD, Cosco JV to Buy Vale's Bulk Carriers

China Shipping Development (CSD) and Cosco have established a joint venture (JV), China Ore Shipping Pte., in Singapore to purchase four 400,000 dwt ore carriers from Vale and operate them.

Finance

HSH Nordbank Looking to Split Off Bad Shipping Loans

HSH Nordbank AG, the world’s second-largest financier of ships, plans to split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model,

Navios in Red, but Beats Estimates

Navios Maritime Holdings, vertically integrated seaborne shipping and Logistics Company, slumped to a loss in the Q1 although the result beat by $0.10 per share

Carrier Schedule Reliability Improves in April

Transport consultant Drewry’s Carrier Performance Insight (CPI) for April records 67.6%, up by 4.1 percentage improvement on the previous month in the aggregate

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.2112 sec (5 req/sec)