BHO Refinances To Acquire Vessel

Tuesday, April 13, 2004
B+H Ocean Carriers Ltd. has acquired a 98,000dwt OBO, or combination carrier, committed to a Time Charter at $27,000 from delivery through March 13, 2006, plus or minus one month. The vessel will be delivered to the Company during April. This vessel, to be renamed Sachuest, has some particularly attractive attributes in the present market environment, the Company said, including the ability to trade as both a tanker and a dry bulk carrier, plus the fact that it has 24,227 tons of steel with a present salvage value of almost $10 million. The Company stated that it estimates that the vessel will generate EBITDA at a rate slightly in excess of $7 million on an annualized basis, excluding the time and expense for its scheduled drydocking in the third quarter of 2004. The Company added that for the twenty-four month period of the present charter, it expects the vessel to contribute annualized average earnings of approximately $1.00 per share. The Company cautioned that these forward-looking statements are based upon estimated vessel operating expenses and drydocking time and expenses, which may vary from the estimates.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

RYDLYME Marine Selects GoM Distributor

RYDLYME Marine has named R Carter & Associates, Inc. of Mobile, Ala. a new stocking distributor for the Gulf of Mexico area, targeting shipyards, larger workboats,

MN 100: Elliott Bay Design Group

The Company: Elliott Bay Design Group (EBDG) is a Seattle-based, employee-owned enterprise with offices in New Orleans and Ketchikan that provides full-service naval architecture,

MN 100: Dometic Marine

The Company: Dometic Marine is an engineering leader of innovative products for the global marine industry and offers a large worldwide sales and service network.

Legal

Libya Plans to Sell Ex-rebel Tanker

Libya plans to sell a tanker that a former rebel group used in an attempt to bypass the Libyan government and export oil on its own last year, the Tripoli-based state prosecutor said on Thursday.

Turkey Detains 4 in Connection with Capsized Migrant Boat

Turkish police have detained four Syrians suspected of involvement in organising the passage of a boat which capsized, drowning 12 people including a toddler, as

Singapore Becomes Sea-Dispute Settlement Centre

The government of Singapore has become a venue in Asia to settle maritime disputes for proceedings before the International Tribunal for the Law of the Sea (ITLOS).

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.5602 sec (2 req/sec)