Omega Navigation Takes Delivery of Tanker

Wednesday, June 28, 2006
Omega Navigation Enterprises, Inc., has taken delivery of its third product tanker, its first Handymax (Ice Class 1A) double hull product tanker, the Aris, to be renamed the Omega Prince. The Omega Prince is a Handymax (Ice Class 1A, IMO II & III) double hull product tanker of 36,680 deadweight tons (dwt), built by Hyundai Heavy Industries, South Korea in 2006. The acquisition was funded in part from the net proceeds of the Company's initial public offering and in part from debt under a senior secured credit facility provided by HSH-Nordbank AG. The Omega Prince is employed under a long term time charter to D/S Norden A/S (Norden) until June 2009 at a daily time charter hire rate of $21,000 with profit sharing during the months of January through April of each year of the time charter pursuant to which Omega Navigation will be paid, of 25% of any earnings of the vessel in excess of $27,000 per day. The Company has granted Norden an option to extend the charter for an additional period of 12 months at a minimum daily time charter hire rate of $24,000. The Company has selected VShips as the vessel's technical manager. The Company has agreements to acquire three additional double hull product tankers with deliveries expected by the end of July 2006.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Russia Diesel Exports from Primorsk to Rise in May

Russia is set to export 1.256 million tonnes of ultra-low sulphur diesel from the Baltic Sea port of Primorsk in May, slightly up from 1.209 million tonnes in April, trading sources said on Friday.

New Shipping Firm Sets up in Vancouver

A new shipping company has established itself in Vancouver as the Vancouver International Maritime Centre (VIMC) completes its Asia tour, launching in Tokyo, Singapore and Hong Kong.

Pressure Steady on LNG Shipping Rates -Drewry

LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition

Navy

Canadian Navy Frigate Refit Program Completed

Seaspan joined Harjit S. Sajjan, Canada’s Minister of National Defense, at an official ceremony today to celebrate the completion of the Halifax-Class Modernization/Frigate

This Day In Naval History: April 29

1814 - American sloop USS Peacock and HMS Epervier engage in battle. Peacock takes two 32-pound shots in her fore-yard with the first exchange, but her return broadside

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
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: 0.0847 sec (12 req/sec)