Marine Link
Friday, December 9, 2016

SHIP SALES

Shipsales Some of these sales may not be final – (Reuters) . BULKERS Western Team - (built 1984) 43,296 dwt sold to Greek buyers for $6.9 million. Lara - (built 1985) 8,517 dwt sold to Italian buyers for $2.1 million. Lady Danielle - (built 1978) 21,310 dwt sold to U.S. based buyers for $1.4 million. SOLD FOR DEMOLITION BULKERS Hellenic Confidence - (built 1977) 17,616 dwt sold for $192 per light displacement tonne delivery India. TWEENDECKER Evermore Clear - (built 1978) 15,757 dwt sold for $176 per light displacement tonne delivery India. VEHICLE CARRIERS Vittoriosa - (built 1976) 7,322 dwt sold for $186 per light displacement tonne delivery India. Shipsales

Panamax, High Spec Handymaxes Ship Prices Up

Panamax dry bulk carrier ship sales prices reportedly continued to improve last week and also climbed for well equipped Handymax ships.

Recent Ship Sales Announced

Secondhand tonnage brokers reported the sale of the following vessels. Type Name Built DWT Price ($M) Tanker Serena Sky 1976 154,934 $3.75 Tanker Serena Star 1977 154,934 3.75 Tanker TN Emerald 1982 45,306 $2.15 Bulker Alpha Centauri 1985 179,836 11.3 Bulker Azalea Sea 1990 52,580 7.2 Bulker Libra Australia 1994 24,444 15 Combination Carrier Peregrine X 1983 135,160 5.5 Tanker Ancora 1974 238,066 $127.5/ldt Tweendecker Fontana 1978 14,967 $111.5/ldt Bulker Dalaki 1969 29,156 $124/ldt

Shipvertical Internet Group To Partner With Marine Digital

ShipVertical Internet Group has signed an agreement to enter into partnership discussions with Marine Digital, the Korean-based global maritime marketplace for shipbuilding, ship cargo, ship bunkering, ship sale & purchase, and fishery markets. The agreement enables both parties, ShipVertical Internet Group and Marine Digital, to exchange products/service platforms on the web, to mutually benefit from each party's distribution network, to develop new products for niche markets jointly and to do businesses of both parties via a shared global network of suppliers and ship managers/operators.

Stewart Group Launches Subsea Division

(Photo: Credit)

The Stewart Group, an international shipbroker, has added new depth with the appointment of Michael Braid to launch its specialist subsea and renewables business. "We're delighted Michael has joined The Stewart Group team,” said Paul Love, Managing Director of The Stewart Group. The Stewart Group, which has offices in Aberdeen, London, Houston, Cape Town and Ghana, is a world leader in shipbroking for the procurement of offshore support vessels, deep sea towage, salvage and ship sale/purchase services.

Internet Equipment Ruled Essential Part of Cruise Ship

In an unpublished decision, the U.S. Court of Appeals for the Eleventh Circuit ruled that internet communications equipment is an essential part of a cruise ship and is to be included when the ship becomes subject to a maritime lien. In the instant case, petitioner leased telecommunications and internet equipment to the operator of a cruise ship. Petitioner retained ownership of the equipment and provided service and maintenance. The ship was arrested for unpaid shipyard work totally unrelated to petitioner’s equipment. The ship was sold at a judicial sale. Petitioner sought to recover the value of its equipment, which was included in the ship sale.

Daewoo Reports Hefty Losses

Daewoo Heavy Industries Co. (DHI)announced a loss in the first- half of this year of 337.7 billion won ($302.9 million), compared with net income of 53.2 billion won in the same period last year. DHI is undergoing a reorganization to divulge itself of money-losing operations, as are many of the large Korean industrial conglomerates. Current plans plans call for a split in the shipbuilding and construction equipment businesses into separate units, leaving the remaining company with nonoperating assets, including stakes in Daewoo Motor Co. The division is set for Sept. 1 after several delays. Sales totaled 2.08 trillion won, down from 3.11 trillion won in the same period in 1999, in part because a stronger won meant dollar-denominated ship sales converted into fewer won in the accounts.

Knight & Carver Promotes LoCoco to VP

Knight & Carver YachtCenter has promoted Giovanni LoCoco to the newly created position of Vice President/Operations. The announcement was made by Sampson A. Brown, the boat-building company’s president/chief executive officer. LoCoco, who has been with Knight & Carver for 19 years, now oversees all three divisions – new-vessel construction, vessel repair/refits/repowers and wind-turbine blade manufacture and repair. A native San Diegan, Mr. LoCoco joined Knight & Carver as a carpenter in 1984. He has expertise in virtually every department of the company, including all phases of boat building, along with engineering, sales, marketing and business development.

Royal Caribbean to Sell Splendour of the Seas

Photo courtesy of RCL

Royal Caribbean Cruises Ltd. announced that it has entered into an agreement to sell its cruise ship Splendour of the Seas to TUI Cruises in the second quarter of 2016. The ship will then be leased to Thomson Cruises, which will operate the vessel. Richard D. Splendour of the Seas will complete all scheduled open deployment, and no sailings will be altered or disrupted due to the sale. Her final sailing will commence on April 4, 2016, and all officers and crew will remain with…

MarAd Approves Ship Sales and Transfers

The Maritime Administration (MarAd) has approved three vessels sale and transfer under section 9 of the Shipping Act, of 1916, as amended. MarAd has given approval to Industrial Resources, Inc., of Clear Lake, Washington to sale the fishing vessel MOMMA, to Front Street Management LLC of Vancouver, Washington and transfer of said Vessel to Panamanian registry and flag. The fishing vessel was built in 1945. MarAd has given approval to Maersk Lines, Limited, of Norfolk, Va., to sell the container RoRo’s MAERSK ALASKA and MAERSK ARIZONA, to Ignazio Messina and C.S.P.A. of Genoa, Italy and transfer of said Vessels to Italian registry and flag. Both container ships were built in 1976.

ICB Tankers Deal Boosts Weeks' Ship Sales

Greek shipowner John Angel-icoussis' acquisition of four ICB tankers last week was the highlight of a busier market, Allied Shipbroking Inc. said in its latest ship sales report. Angelicoussis paid $189 million in total for the Mindoro (1995-built, 300,294-deadweight tons), the Irian (1992, 286,006-dwt), the Ambon (1992, 285,771-dwt) and the Flores (1995, 284,410-dwt). Aegean Marine Petroleum, also of Greece, paid $2.5 million to buy the 1976 Norwegian-built tanker Maersk Ascension (60,810-dwt). Italian buyers also picked up two tankers last week. Gemarfin paid $8.75 million for the 1982 Japanese-built Meandros (40,632-dwt) while unknown Italian buyers paid $480,000 at an auction in the U.S. for the 1977 Italian-constructed Campo Duran (30,572-dwt).

Shipsales

Tanker Sentinel - (built 1986) 106,722 dwt sold for $14.4 million. Tanker Bow Explorer - (built 1975) 31,501 dwt sold to Vulcanus for $4 million. Tanker Jo Breid - (built 1981) 26,300 dwt sold to Norwegian buyers for $7.5 million. Bulker Red Rose - (built 1978) 75,720 dwt sold for $2.35 million. Bulker Lionsgate Bulker - (built 1996) sold to London based Greek buyers for $18.25 million. Bulker Litrotis - (built 1981) 64,120 dwt sold at auction in Singapore for $3.5 million. Bulker Al Esraa - (built 1996) 16,113 dwt sold to Greek buyers for $6.6 million. Containership LT Nipponica - (built 1989) 23,741 dwt sold to Greek buyers for $12.5 million. Containership LT Mediterranea - (built 1988) 23,473 dwt sold to Greek buyers for $12.5 million.

Hyundai Mipo Awarded $216m Contract

Sources indicate that Gulf Energy Maritime (GEM) PJSC awarded a $216m ship building contract to Hyundai. The contract is for four high specifications, double hulled, coated product tankers of 75,000 dwt. These ships will be sister ships to the four ships, of which GEM took delivery in 2005 and with placing of this order GEM's fleet of owned, managed and newbuilds ships reaches 25. Although, one of the youngest product tanker companies in the world, established in 2004 — GEM is proving to be as stated at its launch — the fastest growing product tanker company with the most modern, high quality fleet. The contract award signing ceremony was held at GEM offices, signed by Yusr Sultan and Shine Kang, General Manager, Ship Sales Department of Hyundai Mipo Dockyard.

Latvian Shipping Given OK To Sell Refrigeration Fleet

The Latvian privatization agency cleared Latvian Shipping to sell part of its loss-making refrigerator fleet to concentrate on its core tanker business, Reuters reported. The agency gave the go ahead to sell seven Kursk-type refrigerator vessels that are unable to handle containers and had said that the funds raised must be reinvested. Shipping, currently in the final stages of privatization, has said the total balance sheet value of the ships is $40 million. Shipping's strategy -- if and when an investor arrives -- is to strip all non-core business away by selling most of the refrigerators, as well as dry-cargo and gas vessels. The firm operates a fleet of 49 ships -- 34 tankers…

Ship Sales

BULKERS Molat - (built 1977) 37,836 dwt sold for $1 million. Sea Resource - (built 1977) 27,000 dwt sold to Taiwanese buyers for $1.35 million. Neptune Akabar - (built 1986) 21,650 dwt sold to Chinese buyers for $5.3 million. Top Concord - (built 1984) 21,362 dwt sold for $4.25 million. Bravo - (built 1988) 15,900 dwt sold at auction for $950,000 with delivery as is laid up in Immingham. Alpha Accord - (built 1985) 7,015 dwt sold for $1.7 million. TANKERS Polysymphony - (built 1993) 149,000 dwt sold for $41 million. – All sales not final (Reuters)

MHI Licenses Deck Machinery to Imabari Shipbuilding

Photo credit MHI

Through licensing, MHI aims to expand market share of deck machinery based on the company's technology and, at the same time, respond to requests from Imabari, which looks to enhance business through deck machinery production. The production of licensed machinery is scheduled to be started in April 2013. Deck machinery mainly consists in this instance of anchor windlasses and mooring winches. MHI manufactured its first deck machinery in 1962. The company's deck machinery has built up a solid delivery track record and has won high reputation from customers for their high reliability…

GAC Shipping Promotes Silveira, Martin

Ana Silveira

GAC Shipping has appointed Ana Silveira as its new Marketing Manager for Central & South America and Darren Martin as Senior Marketing Manager for North America with immediate effect. A graduate of the State University of New York Maritime College at Fort Schuyler, with a Bachelor degree in International Transportation and Trade, Silveira is fluent in Portuguese, Spanish and English. She joined GAC immediately after graduation, as a Hub Coordinator in Houston, responsible for monitoring port calls for hub customers such as Chevron, BG, Euronav and Tanker Pacific.

MarAd Seeks Comments on CP Ships Sale

The Maritime Administration (MARAD) is seeking comments on the impact on the Maritime Security Program (MSP) of the proposed acquisition of CP Ships Limited by TUI AG. CP Ships Limited is a Canadian company and the parent of CP Ships USA, LLC, which is a participant in the MSP. TUI AG is a German corporation and the parent of Hapag-Lloyd, a German vessel operator, neither of which have any present connection with MSP. Comments must be received by September 23. 70 Fed. Reg. 54102 (HK Law).

Ship Sales

Tanker Sentinel - (built 1986) 106,722 dwt sold for $14.4 million. Tanker Bow Explorer - (built 1975) 31,501 dwt sold to Vulcanus for $4 million. Tanker Jo Breid - (built 1981) 26,300 dwt sold to Norwegian buyers for $7.5 million. Bulker Red Rose - (built 1978) 75,720 dwt sold for $2.35 million. Bulker Lionsgate Bulker - (built 1996) sold to London based Greek buyers for $18.25 million. Bulker Litrotis - (built 1981) 64,120 dwt sold at auction in Singapore for $3.5 million. Bulker Al Esraa - (built 1996) 16,113 dwt sold to Greek buyers for $6.6 million. Containership LT Nipponica - (built 1989) 23,741 dwt sold to Greek buyers for $12.5 million. Containership LT Mediterranea - (built 1988) 23,473 dwt sold to Greek buyers for $12.5 million.

Recent Ship Sales

Tanker Sitamia 1988 84,040 $20.5 million. Tanker Bertina 1982 65,979 sold on a BBHP basis to Seaoil, U.S., based on a price of about $9.5-10 million. Chemical Tanker Tradewind Clipper 1983 6,718 $1.5 million. LPG Carrier Aries Gas 1984 3,084 $2.5 million. Bulker Transworld 1993 71,761 $13.2 million. Bulker Virtue 1985 38,883 $6.6 million. Bulker Jag Roopa 1985 37,710 dwt $6.2 million. Bulker Nego Nomis 1985 26,598 $5.7 million. Bulker Range 1983 11,754 $3.3 million. (Source: Reuters: All transactions may not be final)

Three U.S. Ship Sales OKd

The Maritime Administration (MarAd) has approved three applications under section 9 of the Shipping Act, 1916, as amended. K-Sea Operating Partners L.P. of Staten Island, NY, has received approval to sell and transfer to Candian registry and flag of the tank barge KTC -135. The purchaser is McKeil Work Boats Ltd., a Canadian Corporation. The 18,850-dwt. vessel was built in 1969 in Port Arthur, TX. Horizon Lines, LLC of Charlotte, NC, also has received permission to sell the containership HORIZON MAYAGUEZ to Eckhardt Marine GmbH, a Republic of Germany Corporation, for scrapping in China. The vessel was built in 1982 in New Orleans, LA. U .S.

Expanded Scope of Maritime Contract Jurisdiction

For decades, it has been a basic principle of U.S. admiralty law that contracts for the sale of a vessel are not within the maritime jurisdiction.3 While the principle has been criticized,4 nonetheless it is still considered black letter law. In a decision issued last week, a judge of the U.S. District Court for the Southern District of New York, the Honorable Shira A. In Kalafrana, an aspect of the sales agree­ment concerned repairs to the vessel. A dispute over the repairs led to a arbitration and award. The New York Rule B action was based on the award. While Judge Scheindlin certainly recognized and acknowledged the traditional precedent, the Court held that more recent U.S.

Ship Sale & Purchase Market – Weekly Summing Up

A vessel reported to have been committed from the Japanese market is the handymax M/V SOLAR ASIA (46,658 dwt 1998 blt Mitsui) sold for US$ 12.5m to Chinese interest. Following the reported sale of the sister M/V NENA A clients of Fairsky Shipping have also committed of another handymax of the vessel series M/V NENA C (43,188 dwt 1994 blt Hyundai) for US$ 9.8m to Italian buyers. There are several rumours that M/V APEX BULKERS is also committed to undisclosed buyers for a price in the region of US$ 14m. The M/V EASTGATE (27,877 dwt 1990 blt Kanasashi) reported sold for a firm price in the region of US$ 5.75m to Ukrainian buyers while the 8 years younger M/V ATLANTIC KING (27,797 dwt 1998 blt Naikai) reported sold for a price slightly in excess of US$ 8.5m to Chinese buyers.


Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

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