EXMAR LPG Sells Two Older LPG Ships

Monday, May 26, 2014

EXMAR LPG (the Joint Venture between EXMAR and TEEKAY LNG PARTNERS) sold the Very Large Gas Carrier FLANDERS TENACITY (84,270 m³ – 1996 built) and the Midsize Gas Carrier EEKLO (37,450 m³ – 1995 built). 

Both vessels are expected to be delivered to their new owners in June 2014. The capital gain realized by EXMAR for its 50% share in EXMAR LPG will be approximately $18 million. 

 
This transaction will generate for EXMAR LPG net cash proceeds of around $44 million. The disposal of older tonnage is in line with the company’s strategy to continuously serve its first class customers with a quality modern competitive fleet.
 
The newbuilding program of Midsize Gas Carriers continues to be on track and, in addition to WAASMUNSTER (38,000 m³) delivered in April, EXMAR LPG will take delivery of the sister ship, WARINSART (38,000 m³), during the first week of June. 
 
One other newbuilding, WAREGEM (38,000 m³) is scheduled to be delivered in the fourth quarter of this year. The remaining nine other Midsize LPG Carriers currently on order will be delivered between 2015 and the first quarter of 2018.
 
BW TOKYO (83,300 m³ - 2009 built), under commercial control of EXMAR LPG since the beginning of May, has been fixed for a two year time charter with a first class customer at rewarding levels.
 
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Transas: The Bridge to Tomorrow

Transas was founded in 1990, by a group of former navigators and engineers, who at that time envisioned ways in which computers could revolutionize maritime safety, communications and security.

ZF Celebrating 100th Anniversary

2015 marks the 100th anniversary of the foundation of ZF Friedrichshafen AG   Zahnradfabrik GmbH was founded in 1915, and through a 100-year history has developed

Signal Ship Repair Achieves OSHA Milestone

Signal International announced that on December 31, 2014, the Signal Ship Repair Operations located in Mobile, Alabama achieved one full year and worked 387,926 manhours,

Contracts

USACE Barges, Tugs Up for Repair

The United States Army Corps of Engineers (USACE) Buffalo District has awarded a repair contract to Great Lakes Shipyard for two tugs and two barges from the Corps’ Cleveland Field Station.

DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less

Shipbuilding

Shepler’s New Ferry Takes Shape

Sparks are flying on the bulkhead and engine room of the $3.8 million, 85-foot Miss Margy, the newest addition to the Shepler’s Mackinac Island Ferry fleet, at Moran Iron Works.

The Art of Propeller Making

The world’s biggest propellers have their cradle in the North of Germany. MMG – Mecklenburger Metallguss GmbH – has manufactured for more than 65 years propellers for ships,

LEEVAC Launches First PSV for Tidewater

On Tuesday, January 27, LEEVAC Shipyards Jennings, LLC launched hull 367, a platform supply vessel (PSV) designed by LEEVAC Design Services, LLC (300 DE-52 HAB PSV).

Ship Sales

Greek Shipping Fears Syriza Tax Plan

Will the new government in Greece led by radical-left party Syriza levy higher taxes that the shipping industry can’t afford? A report in WSJ says that several

AsiaBio Buys Two Shipping Firms

Asia Bioenergy Technologies Bhd's (AsiaBio) has signed a heads of agreement (HOA) with Hoe Leong Corp Ltd (HCL), Sumatec and Reachmont Logistics Sdn Bhd (RLSB)

NewLead Expands Fleet to 10 Vessels

NewLead Holdings Ltd. announced that it recently added five bitumen tanker vessels, expanding its fleet to 10 vessels in less than a year while performing on its

Energy

US House Passes Bill to Pressure Regulators on LNG Exports

The U.S. House of Representatives passed a bill on Wednesday to speed permits for exports of natural gas, a measure that even if passed by the Senate and signed into law by President Barack Obama,

Denmark's Budget Gap May Flirt with EU Limit if Oil Stays at $50

Denmark's government estimates its budget would lose 7.5 billion Danish crowns ($1.1 billion) if oil prices remained around $50 a barrel, according to a document

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less

LNG

US House Passes Bill to Pressure Regulators on LNG Exports

The U.S. House of Representatives passed a bill on Wednesday to speed permits for exports of natural gas, a measure that even if passed by the Senate and signed into law by President Barack Obama,

DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered

GTT to Exhibit at Euromaritime

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), will exhibit at Euromaritime,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar Winch
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: 0.7255 sec (1 req/sec)