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

Tanker Trends

Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy.

Horizon Delivers 4th 74’ Towboat for Canal Barge Co.

Horizon Shipbuilding, Inc., Bayou La Batre, AL, has delivered the fourth in a series of 74’ towboats to Canal Barge Company, Inc. of New Orleans, LA.    The

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

Navy

Today in U.S. Naval History: July 25

Today in U.S. Naval History - July 25 1779 - Amphibious expedition against British in Penobscot Bay, Maine 1863 - U.S. Squadron bombards Fort Wagner, N.C.

Cause of S.Korea Ferry Businessman's Death Remains Unknown

Yoo's body too badly decomposed to determine cause of death; mystery surrounding final days of de-factor owner of doomed ferry deepens. Yoo's son arrested in latest capture of family members.

DoD Awards Ingalls 'USS Ronald Reagan' Contract Modification

U.S. Department of Defense (DoD) informs that Huntington Ingalls Inc., Newport News, Virginia, is being awarded a US$13,759,894 modification to previously awarded cost-plus-award-fee,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.0916 sec (11 req/sec)