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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Sales

Vessel Sales: February 2015

Vessel sales for February 2015  - (as of March 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built -  - (Age)

Lomar Adds Seven Container Ships to its Fleet

Lomar Corporation, a Libra Group company, has again added to its fleet of container ships with the purchase of three vessels plus an order for up to four new buildings from the Yangzijiang Shipyard,

25,000-TEU Ships Possible, Not Practical

Maersk Line CEO Soren Skou said ships with capacities of 25,000 twenty-foot-equivalent units are possible but not practical today, and that he expects 18,000-19,

Education/Training

Vessels for the Future – New R&D Initiative

Looking ahead to 2020 and beyond, both maritime and inland waterways will be under ever increasing pressure, as we use them for transport, recreation and commercially.

“Bright Ideas” program - Ash Center - Harvard University

The Ash Center for Democratic Governance and Innovation at the John F. Kennedy School of Government, Harvard University, recognized the Port of Houston Partners

MV Sheila Bordelon to be Christened

Bordelon Marine is partnering with Susan G. Komen as part of its continuing relationship to christen the MV Shelia Bordelon on Friday, March 20th at Bordelon Marine Shipbuilders in Houma, LA.

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority 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: 0.1251 sec (8 req/sec)