Ocean Yield Invests in Four 3,800 TEU Container Vessels
Ocean Yield announced that it has agreed to acquire four 2014 built 3,800 TEU container vessels with 12-year bareboat charters to companies owned and guaranteed by CMB NV. The aggregate purchase price is approximately USD 120 million net of pre-paid charter-hire. The vessels are built in 2014 with a capacity of 3,800 TEU and are expected to be delivered to the Company during the early part of third quarter 2018. CMB will have certain options to acquire the vessels during the charter period, with the first purchase option exercisable after five years. CMB is a maritime group founded in 1895 and based in Antwerp, Belgium, with activities within dry bulk- and chemical tanker shipping, container vessels and aviation leasing.
Chemical Shipping Freight Rates to Remain Firm
Chemical tanker shipping freight rates are expected to remain firm over the medium term, thanks to rising production capacity in key exporting countries, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Since 2015, the US has started to export more and import less volume of liquid chemical products. US methanol capacity surged 77% in 2015 with the addition of around 3.5 million tonnes per year of new capacity. As a result, US methanol exports are starting to change the pattern of the long-haul chemical shipping trade. The volume of US exports to Northeast Asian and Europe rose 12% and 20% respectively last year. As a result, Drewry expects eastbound transatlantic freight rates in particular to rise over the medium term.
Nantong Tongbao Bags Order for 8 Chemical Tankers
The delivery of tankers sized from 2,000dwt to 15,000dwt is scheduled from 2017. Zhu Jianhua, president of Tongbao Shipbuilding, said the order is a great opportunity for the shipyard to diverse its portfolio, as the shipbuilding market for offshore vessels is facing overcapacity amid the depression in the offshore market. Li Duozhu, chairman of Dingheng Shipping, subsidiary of investment firm Dingheng Group, believed that the chemical tanker shipping market has started to recover from its low. He added that in line with China’s growth, demand for chemical tankers will be in an uptrend. Li predicted that over the next 10 years, demand for chemical tankers will increase by fivefold from the current levels. Nantong Tongbao Shipbuilding was established in 2005 and focuses on offshore vessels.
Pirates Seize Second Stolt Ship
According to a Reuters report, Somali pirates have hijacked a second ship chartered by chemical tanker shipping group Stolt-Nielsen. Gunmen seized the Stolt Strength in the Gulf of Aden on the afternoon of Nov. 10, nearly two months after they hijacked Stolt Valour, a chemical tanker on its way to India. (Souce: Reuters)
