Cheng Completes Deal with Louis Dreyfus, DVB Nedship

Tuesday, November 06, 2001
Fred Cheng’s new shipping company, Shinyo International, has purchased the 1998-built 43,000dwt bulk carrier Bara from Louis Dreyfus Armateurs SNC of France. The ship is chartered back to CETRAGPA (Louis Dreyfus) for a period of four years.

The transaction marks the first post-Golden Ocean acquisition by Cheng. It also reflects the core industrial shipping approach taken by Cheng over his twenty five years as a shipowner.

DVB Nedship Bank provided the mortgage finance for the acquisition out of the bank’s Hong Kong office. The ship will be managed by Univan Ship Management, also of Hong Kong.

Dagfinn Lunde, Chairman and CEO of DVB Nedship Bank stated, “ The transaction involves a quality ship, charterer, manager and owner and reflects the sort of work our global team, in this case Hong Kong under the leadership of Paul Chang, responds to quickly. We are pleased that Fred Cheng looked to us and know he will be successful.”

Cheng is also delighted that the ship is classed with Bureau Veritas, one of two classification societies of which he is a committee member, the other being the American Bureau of Shipping.

Maritime Reporter February 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Barril Appointed COO of SBM Offshore

SBM Offshore is pleased to announce the appointment of Philippe Barril as Chief Operating Officer (COO) effective March 1, 2015.  Philippe's appointment as a

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

Naval EXPO Coming to Washington

For the first time ever, the general public will be admitted free to the Naval Future Force Science and Technology EXPO general exhibit hall Feb. 4-5 where they

Shipbuilding

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

SSI Launches ShipConstructor 2015 R2.1

SSI has today released ShipConstructor 2015 R2.1 software.   The software release comes in response to emerging ship design, engineering and building trends as

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1780 sec (6 req/sec)