Broström Modernizes Fleet

Tuesday, August 13, 2002
By the delivery of the 37,000 dwt product tanker Bro Ellen and by the sale of the 20-year-old product tanker Bro Star, Broström is taking a further step in the modernization of its fleet, which now has an average age of less than 7 years. In a series of two, the Bro Ellen is the second vessel delivered to Broström from the 3 Maj Shipyard in Croatia. Her sister vessel was delivered during last year and the two vessels are now trading mainly in North Western Europe and in the Mediterranean markets. The vessels have been built in accordance with the latest technical and environmental standards and requirements in order to carry petroleum products as well as IMO 2 chemicals. They have shallow draft, tin free antifouling and NOx emission control for main and auxiliary engines. Both vessels fly the French flag and are operated and managed commercially by Broström's French subsidiary Broström Tankers SA in Paris. Broström holds a majority interest in the vessel, the balance being held by external investors. The sale of the 20-year-old 12,000 dwt product tanker BRO STAR, is a further step in Broström's long-term strategy to provide the oil industry with modern and safe vessels for the transportation of refined oil products. Demand for this type of old tonnage has drastically been reduced which fact is also reflected in the valuations. The divestment of BRO STAR will hence bring a total sales loss of $1.6 million in Broström's profit and loss account for the third quarter this year whereof $1.3 million is a currency exchange loss on outstanding loans. "The continued emphasis on quality, safety and environment has contributed to Broström's competitive strength and enabled us to gradually increase our portfolio of cargo contracts. The loss realized in the divestment of one of our oldest vessels illustrates the change that has taken place in the market. Overall, however, this development benefits Broström's long-term success and profitability", says Lennart Simonsson, CEO of Broström AB.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Georgia Delegation visit Naval Academy "NYVaptsarov"

From 15 to 17oktomvri 2014. Naval Academy "N. Vaptzarov "hosted a delegation from Georgia led by prof. Sharabidze Irakli - Rector of the State Maritime Academy, city.

Zamakona Yards Delivers Tuna Freezer Vessel

Zamakona Yards yesterday celebrated in Getxo (Bizkaia) the delivery of the tuna freezer vessel LJUBICA, their latest construction to the owner group Jadran based in Ecuador and Panamá.

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.1996 sec (5 req/sec)