Genco to Sell Handymax Vessel

Tuesday, September 11, 2007
Genco Shipping & Trading Limited announced that it has reached an agreement to sell the Genco Commander, a 1994-built Handymax vessel to Dan Sung Shipping Co. Ltd. for $44.45m less a 2% brokerage commission payable to a third party. The Company expects to realize a net gain of approximately $24m from the sale of the vessel in the fourth quarter of 2007. The company plans to use the proceeds from this sale to pay down debt following its recent agreements to acquire a total of 15 drybulk vessels. The delivery of the Genco Commander is expected to take place upon the expiration of the vessel's current time charter between October 1, 2007 and December 31, 2007.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Sales

Libya Plans to Sell Ex-rebel Tanker

Libya plans to sell a tanker that a former rebel group used in an attempt to bypass the Libyan government and export oil on its own last year, the Tripoli-based state prosecutor said on Thursday.

G E Shipping delivers “Jag Aakash” to Buyers

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015.

Hanjin Rolls Out First Philippine-made LPG carrier

Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), which operates the world's fourth shipbuilding facility in Subic Freeport Zone, unveiled the

Education/Training

Transas Expands ECDIS Training Network in China

The New Alliance Marine Training Center (NAMTC) has joined the Transas Global ECDIS Training Network (GET-Net), and shipping companies can now benefit from an ECDIS

Drilling Down into Risk Management

Afloat or ashore, we cannot eliminate risk, but it can be sensibly managed to a tolerable level. It begins with a hypothetical, but worryingly authentic, tale

Nominations Invited for BIMCO Awards

BIMCO, the world’s largest international shipping association is now calling for nominations for its prestigious awards, to be presented in Hamburg in November 2015.

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar 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: 0.1143 sec (9 req/sec)