Gulf Navigation to Acquire Oil Tankers
According to an August 29 report from Bloomberg, Gulf Navigation Holding PJSC, Dubai’s only publicly traded oil-tanker owner, is seeking to buy new crude carriers as an improving global economy boosts shipping volumes. The company is on target to ship 6 million tons of goods this year, compared with 4.5 million tons in 2009, a company representative said. (Source: Bloomberg)
OSG To Acquire Stelmar Shipping
Overseas Shipholding Group, Inc. transportation services with one of the world's largest and most modern Handymax and Panamax tanker fleets. Stelmar. value of the transaction is approximately $1.3 billion. Executive Officer of OSG. LNG sector," Mr. Arntzen continued. deadweight tons. international flag vessels totaling 12.9 million deadweight tons. double-sided," Arntzen concluded. segments. facilities." Mr. on crude transportation with spot orientation. and Panamaxes with time charter orientation. shareholders and satisfaction of customary closing conditions. transaction is expected to close by the end of January 2005. with the transaction.
OSG Acquires Stelmar Shipping
Overseas Shipholding Group, Inc. price of $48.00 per share. Stelmar's outstanding shares. outstanding shares approved the merger agreement. number of vessels and the third largest measured by deadweight tons. totaling 12.8 million deadweight tons. vessels are double-hulled or double-sided. years, 10.2 years and 13.9 years, respectively. world Handymax fleet average age of 13.8 years. Company has on order four LNG vessels of 864,800 cbm. Executive Officer of OSG. VLCC and Aframax sectors and its recent entry into the LNG sector," Mr. Arntzen continued.
