Recent Ship Sales
Shipping Intelligence, Inc. prepared a list of recent vessel sales as of June 1, 2013.
Bahrain Designated “Home Port” for U.S. Ships
In a move that is likely to increase repairs of U.S.-flagged ships at Bahrain’s ASRY, the Bahraini Government has entered into an agreement with the U.S. Government to designate Bahrain as a ‘home port’ for U.S. ships. ASRY has been repairing U.S. Navy and MSC ships for a number of years, especially during the Kuwait and Iraq Wars. On the commercial side, ASRY has also been carrying out emergency repairs to U.S.-flagged ships. However, under this new agreement, U.S.-flagged commercial vessels can now repair in ASRY without paying the 50% levy to the U.S. Government by repairing overseas. Bahrain is the only major Gulf shiprepair country to enter into this agreement with the U.S. Authorities.
ASRY Up 7% in 3Q
Following on from the earlier success of the first half of this year, Bahrain’s ASRY, has turned in a successful third quarter series of results with an increase in business and sales, which were up some 7% on the previous quarter. In all some 28 vessels were in the yard for repairs and refurbishment, with 30 percent being in the tanker class with the majority being ULCCs and VLCCs. The yard was also kept extremely busy with other classes of vessels ranging from lpg carriers, livestock carriers through to RoRos, dredgers and general cargo. During this third quarter over a hundred specifications were received from owners around the world with a contact award success rate of 26%.
