Schoeller Holdings News

AAL Shipping has added further vessels to its owned multipurpose cargo vessel (MPV) fleet. This month saw the delivery of the 2010 AAL Gunsan (ex-BBC America) and her sister vessel, the 2009 AAL Geelong (ex-BBC Valparaiso) – the latter taken a few months ago. These are the last of four 25,800 deadweight (DWT) multipurpose heavy lift sister vessels (classified by AAL as G-class) secured through an acquisition transaction penned back in 2021 by AAL / Schoeller Holdings Group.During the summer…

Singapore  - FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), announced that it has reached an agreement to charter its vessel, ‘FSL Singapore,’ to Petròleo Brasileiro S.A. (“Petrobras”) on a three-year time charter contract. The vessel is expected to be deployed on the time charter within the second quarter of 2012. ‘FSL Singapore’ is a 47,470 dwt product tanker which is currently deployed in the spot market. The product tanker will be chartered to Petrobras, based on a gross daily charter rate of $14,000 per day for a period of three years, subject to clearance of the physical inspection of the vessel at its next discharge port.

First Ship Lease Ltd., a commercial finance company focused on diverse shipping assets, today announced the successful completion of a $100 million mezzanine financing facility. The mezzanine facility, combined with previous equity financing and senior debt to be raised on a transactional basis, allows First Ship Lease to provide in excess of $500 million in operating and finance leases to shipping and industrial companies that meet its credit criteria. The mezzanine financing was fully underwritten by BTM Capital Corporation of Boston, a subsidiary of Japan's premier bank, The Bank of Tokyo-Mitsubishi, Ltd.; Germany-based HSH Nordbank AG, the world's largest ship mortgage lender; and Vereins -und Westbank Group, a subsidiary of Germany's second-largest bank, HypoVereinsbank.

Rapidly rising prices for steel plate in China may be taking the edge off the financial performance at some Chinese shipbuilders. But it will take a lot more than that to undermine shipyards' dramatic expansion plans aimed at ensuring the country's builders produce more ships than any other nation by 2015. In the short run, however, the country's relatively inexperienced builders seem to have failed to read the steel supply signs. They have found themselves caught out by a number of factors driving up ship steel prices. These have risen by almost 60% over the last 30 months or so and now stand close to $400 a ton. On the one hand, soaring…