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Liner Operator News

16 Jun 2021

Global Ship Lease to Acquire Four Containerships

© donvictori0 / Adobe Stock

Global Ship Lease announced on Wednesday that it has agreed to purchase four 5,470 TEU Panamax containerships with an average age of approximately 11 years for an aggregate purchase price of $148 million.The ships are scheduled for delivery during the third quarter of 2021. The Company expects to fund the purchase price with cash on hand and senior secured debt.On delivery, the ships will be chartered to a liner operator for a firm period of three years each, with a charterer’s option for a period of an additional three years.

25 Nov 2019

GSL Acquires 2 Post-Panamax Containerships

UK-based containership owner Global Ship Lease (GSL) has agreed to acquire two 2004-built, 6,080 TEU Post-Panamax containerships for an aggregate purchase price of $24.5 million and with charters in place to a leading liner operator for minimum 52 months to  maximum 60 months.The vessels, which have bows optimized for fuel efficiency at lower operating speeds, are scheduled for delivery by the end of this year.The vessels are expected to generate aggregate Adjusted EBITDA of approximately $21 million over the term of the contracted charters, assuming the median expiry dates. With these additions, GSL fleet will comprise 45 vessels with a total capacity of 249…

07 Nov 2016

Charter Owners, Operators Confront Container Market’s ‘Great Divergence’

Photo: Hapag-Lloyd

The latest Container Shipping Forecaster from Maritime Strategies International highlights the contrasting fortunes of liner operators and tonnage providers. The entire container shipping industry remains under significant pressure. Whilst freight rates have improved marginally from the extreme lows seen over the middle of the year, most liner companies are now at best breaking even, with weaker lines still probably in a loss-making position. The situation is even worse for charter owners, with vessel earnings marooned below operating costs for most mid-sized vessel classes.

14 Oct 2016

Cosco Raises $1.8bln Capital

China’s COSCO Shipping Development Co Ltd  announced a proposed nonpublic issuance of about 3.28 billion shares to specific investors, including its parent company, to raise up to 12 billion yuan ($1.79 billion), reports China Daily. COSCO Shipping Development will become a financing platform of its parent company-China Cosco Shipping Corp, the country's largest shipping company, according to its public statement. The company will use 6 billion yuan and 2.4 billion yuan from the proceeds for the capital injection into two of its subsidiaries, COSCO Shipping Leasing Co Ltd and Florens International respectively, while it will also use 1.8 billion yuan for the redemption of maturing corporate bonds and 1.8 billion yuan to refill the working capital of the company.

02 Mar 2016

Heavy Lift: Massive Gas Turbine Shipped to Turkey

Rickmers-Linie was entrusted with the transport of this 485-metric-ton gas turbine made by Siemens for a power plant project in Turkey. (Photo: Hero Lang for Rickmers-Linie)

A special loading operation has taken place in Bremerhaven, involving Rickmers-Linie’s MV Rickmers Hamburg, a 485-metric-ton Siemens gas turbine, a 465-metric-ton Siemens generator and German project freight forwarder Bertling. Not only did the operation involve the transport of the largest gas turbine ever manufactured by Siemens, it also marked the first call of this class of Rickmers-Linie ship – a 30,000dwt multipurpose heavy lift vessel – in Bremerhaven, the place where the Rickmers Group was founded in 1834.

13 Jul 2012

Containershipping: When will the Comeback Commence?

Maersk Line’s new head of south China, David Skov

Talk about ups and downs. In 2009, the container shipping industry lost US$16 billion. In 2010, it made a profit of $20 billion, and last year was back in the red ink business with an $8 billion loss. This year? Break even is about the best prediction available even with a surge in freight rates as general rates increases (GRIs) imposed by the carriers in the first few months have largely stuck. By May, shipping lines on the Asia-Europe trade saw rates surge to 2010 levels with solid spot increases being reported on the transpacific.

04 Jan 2008

Seaspan Signs Contract for Five Ships

Seaspan Corp has signed contracts for Samsung Heavy Industries Co Ltd to build five new 4,520 TEU container ships. Seaspan has also completed more than $900 million in debt financing with a long-term fixed interest rate of less than 6 percent. The company has signed 12-year time charters for the vessels with Kawasaki Kisen Kaisha Ltd, Japan's third-largest liner operator. The five new vessels are due to be delivered in 2010 and 2011.

26 Apr 2007

Containerships Group Not For Sale

sell the company to FESCO or anyone else. Eimskip, which in turn is listed on the Icelandic Stock Exchange. remainder of the company is owned privately in Finland. intend to buy Containerships Group. FESCO and we have no intention of having any discussions with them. Petersburg. terminal in St Petersburg through its Multi Link Terminals subsidiary. It is our main Russian gateway. terminal by illegally closing the access roads to the terminal. terminal and a successful line serving Russia to sell out. will continue to flow freely across our network.