Bocimar Expands Fleet, Buys 3 Ships

Thursday, March 09, 2006
CMB confirms that its subsidiary Bocimar International has acquired three capesize newbuilding vessels for a total purchase price of $188 million.

The first vessel, SWS 1028 (Shanghai Waigaoqiao Shipyard) - for which Bocimar concluded a three-year time charter contract in April 2005 - is obtained from Teh Hu (Hong Kong). It concerns a 175,000 dwt newbuilding that will be delivered in the third quarter of 2006.

The other two vessels, SWS 1048 and SWS 1049, have been bought from the Golden Ocean group. These two 175,000 dwt newbuilding vessels will be delivered in November 2006 and January 2007. For both vessels a three-year time charter contract has already been concluded with a Japanese and Korean charterer on favourable terms.

The purchase of these two vessels is still subject to the finalisation of the contract documentation.

These new vessels make an ideal addition to Bocimar's current young, modern and rewardingly-valued fleet. This transaction also strengthens the relationship with the Chinese yard SWS as, after the delivery of these three vessels, 10 vessels belonging to Bocimar's fleet will have been built at SWS.


Legal

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,

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

Ship Sales

Securing the Scorpene: DCNS to Move Court

The French shipbuilder DCNS plans to seek an injunction to prevent further publication of information contained in 22,400 secret documents about stealth submarines built for India,

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

STX to Slash Jobs, Sell Yard

To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction 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: 0.0717 sec (14 req/sec)