Omega Acquires Two Tankers

Tuesday, May 20, 2008

Payment terms provide for a 10% deposit payment, payable now, and the balance of 90% at the respective deliveries of each vessel. The Company has secured bank financing at competitive terms for 90% of the deposit payment and 75% of the entire purchase price.

Each vessel has currently secured employment to ST Shipping, a subsidiary of Glencore International, AG, under a three year time charter commencing at the time of delivery at a gross daily rate of $21,135. The time charters on both vessels include profit sharing arrangements settled on a quarterly basis, pursuant to which earnings from the vessels in excess of $21,135 per day will be divided equally between owners and ST Shipping.

With the addition of these two vessels, Omega's fleet will expand to 15 product tankers, including seven newbuilding handymax vessels, expected to be delivered between the second quarter 2009 and early 2011, with a total deadweight capacity of 791,358 dwt.

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

Tanker Trends

Marseilles Fos Reports Mixed First Half

First-half container traffic at leading French port Marseilles Fos totalled 583,287 teu – up 7% on the first six months last year - marked by a 10% increase at the deepsea Fos terminals.

ABS to Class the World's First CNG Ship

ABS announced it has been chosen to class the world's first compressed natural gas (CNG) carrier ordered by Pelayaran Bahtera Adhiguna, a subsidiary of Indonesia's

Prelude By the Numbers

Out at sea, look! It’s a ship! It’s a floating rig! It’s SuperFLNG! While not “faster than a speeding bullet,” Shell’s shipzilla Prelude is certainly more powerful than a speeding locomotive,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair 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: 0.0913 sec (11 req/sec)