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

Tanker Trends

HMAS Success Deploys to Middle East

After months of preparation, HMAS Success departed Garden Island in Sydney today for a six-month deployment to the Middle East Region to provide logistic support

Rosneft Ships First Oil From Chayvo Field

Rosneft commenced shipment of crude oil extracted at the Northern Tip of Chayvo license off the coast of Sakhalin, with the first tanker carrying Sokol-grade crude leaving port on November 21.

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

Ship Sales

Monjasa Buys Tanker from Eships

The Monjasa Group has purchased a tanker, M/T Eships Bainunah, from Abu Dhabi based Eships, the company announced today. The Turkish-built (2005), IMO-II, 8,

ICAP Shipping in Merger Talks

Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators 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: 0.0893 sec (11 req/sec)