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.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

RS to Exhibit at SMM 2014

Russian Maritime Register of Shipping (RS) announced it will exhibit at Shipbuilding, Machinery and Marine Technology (SMM) International Trade Fair September 9-12, 2014 in Hamburg, Germany.

Green Marine, ACPA Partner to Reduce Environmental Footprint

Green Marine and the Association of Canadian Port Authorities (ACPA) have entered into a Memorandum of Understanding with the goal of jointly expanding efforts

SC Ports’ Earnings, Volumes Surpass Plans

July cargo volumes deliver strong start to new fiscal year SC Ports Authority reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent over the organization's financial plan.

Megayachts

Triton’s Yacht-based Submersible to Debut in Monaco

New lightweight, low profile Triton 1000/3 LP designed specifically to fit into existing yacht tender garages. Triton Submarines (Triton) announced that it will introduce its newest model,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators
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: 0.1392 sec (7 req/sec)