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

People & Company News

Hapag-Lloyd Names Haeser Next CCO

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

MARAD to Host Meeting on Proposed Delfin LNG License

MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility.   On July 29, the Maritime Administration

Substantial Demand Underscores Need for TIGER Grants

U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment

Legal

Legislation Introduced to Lift Cuba Embargo

A new piece of legislation, the Cuba Trade Act of 2015, was introduced in Congress Tuesday that aims to lift the Cuba embargo and allow for U.S. businesses in the

Matson Settles with Hawaii Settle on Molasses Incident

Pacific cargo shipper Matson, Inc. informs that a settlement has been reached with the State of Hawaii to resolve all civil, criminal and administrative claims

Eni Mulls Mozambique LNG Supply Deal

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.

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.2210 sec (5 req/sec)