MC Shipping to Sell LPG Tankers

Tuesday, November 14, 2006
Reuters reported that MC Shipping Inc. said its board approved the sale of six small liquefied petroleum gas tankers to a special purpose German KG company for $52m. The KG company is to be formed by the German finance house MPC Capital. The total book value of the vessels was $32.8 million as of Sept 30, the company said. MC shipping said in a news release it would charter back the vessels for a minimum period of four years and reinvest between $5 and $5.75m in the KG company for 25 percent of the equity. After repayment of a debt and the reinvestment, MC shipping said it will receive about $24 million as net proceeds. Source: Reuters
Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Bill Promotes US LNG Vessel Transport

Congressman John Garamendi (D-CA-03), Ranking Member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, introduced H.

Kurdish Crude Oil Tankships: End-Game Still in Doubt

After a legal show-down in Texas this week, the outlook for a handful of tankers holding some $300 million worth of Kurdish oil is not looking good. Seemingly

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction 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: 0.0647 sec (15 req/sec)