B+H Ocean Carriers Announces Vessel Acquisitions

Wednesday, March 22, 2006
B+H Ocean Carriers Ltd. Has acquired a 1993-built, 83,000 DWT Combination Carrier to be renamed MV SAKONNET for $36.4 million. The purchase, made effective as of January 15, 2006, also reflects the continuation of a five-year Time Charter which commenced in October, 2005. The purchase was effected through an existing tax lease structure with the Company as disponent owner through a bareboat charter party. Additionally, the company announced that it acquired a 50 percent disponent owner interest in another vessel, a 1992-built 75,000 DWT Combination Carrier, presently named MV SIBOTESSA. This purchase was also effected through an existing tax lease structure. The Company acquired its 50% interest in an entity which is the disponent owner through a bareboat charter party. The terms of the transaction were based on a vessel value of $30.4 million and include a three-year charter which commenced in February, 2006. The charter includes a 50% profit sharing arrangement above a guaranteed minimum daily rate. The Company added that this purchase was also effective as of January 15, 2006.

People & Company News

MN100: MOPS Marine License Insurance

The Company: Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms,

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

DNV GL Backs John Laing on First Offshore Wind Investment

DNV GL successfully completed its due diligence work of the offshore wind farm “Nordergründe” in the North Sea, reviewing and quantifying the technical risks of the project.

Megayachts

Hammond New International Sales Manager, Fairline Yachts

British luxury motor yacht manufacturer, Fairline Yachts, announces Robert Hammond as its new International Sales Manager. Robert will be responsible for Fairline's

MV WERFTEN, Foreship Sign Design Agreements

MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design,

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.0877 sec (11 req/sec)