Cardiff Marine orders Four Aframaxes from Jiangsu Hantong
Jiangsu Hantong Ship Heavy Industry Co.,Ltd. (HT) has signed 4+2 115,000DWT Aframax Oil Tankers contract with Cardiff Marine. The Chinese shipbuilder said the tankers will be designed by Shanghai Merchant Ship Design & Research Institute (SDARI), and financial details of the deal were not disclosed. They are built in NHT and are estimated to be delivered since September, 2017 successfully, the company said in its press release. Economou-led Cardiff Marine ordered two similar aframax tankers at Hantong in July at a price of $46.5m each. Jiangsu Hantong was established in 2003, specializing in shipbuilding and offshore products. HT is located in Jiangsu province,Nantong city,which is only 140 km away from Shanghai and transportation is very convenient.
Ship Engineer Admits Dumping Oil Waste
According to a report from UPI.com, the chief engineer of the Capitola, owned by Cardiff Marine Inc., was sentenced in Maryland to six months in prison for obstructing a U.S. Coast Guard inspection of a Liberian-operated cargo ship in Baltimore. Source: UPI.com
Dryships to Acquire Rest of Drilling Rig Unit
DryShips Inc. (NASDAQ:DRYS) a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling services, announced that it has entered into an agreement to acquire the remaining 25% of the total issued and outstanding capital stock of Primelead Shareholders Inc. Upon closing of this transaction, Primelead will become a wholly-owned subsidiary of the company. Primelead’s principal assets include two owned and operational ultra deepwater semisubmersible drilling rigs, the Eirik Raude and the Leiv Eiriksson, and four newbuilding drillship contracts for Hulls 1837, 1838, 1865 and 1866. The newbuilding drillships have contractual delivery dates commencing in the fourth quarter of 2010 and ending in the third quarter of 2011.
DryShips Reduces Capital Expenditures
DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced two transactions to reduce its future financial commitments and improve its financial strength. These transactions include: the disposal of three Capesize newbuildings, and the cancellation of the acquisition of nine Capesize vessels (including five newbuildings) previously agreed to by the company. These two transactions will reduce the company's capital expenditure commitments by over $1.5b in initial transaction value. In addition, during this period of lower freight rates and an impaired credit market, the company will suspend dividend payments on its common stock.
OceanFreight Diversifies into Tankers
OceanFreight Inc. acquired its tenth vessel. The company announced it acquired a 1993 built 93,723 dwt double-hull Aframax tanker from interests associated with George Economou for $47.25 million, expanding its fleet to ten vessels. a gross daily rate of $27,450 with a major NYSE listed oil company. Marine Inc. has been retained as the technical manager of the vessel. Mr. investment across all shipping sectors. dividend policy. that is accretive to cash flow per share. operating vessels to the highest industry standards.
