Ocean Tankers Purchases Fourth Ship
Ocean Tankers Holdings Public Company Limited has increased its fleet to four ships with the delivery of tanker M/T Montauk. M/T Montauk has been renamed to M/T Kalia and has already hoisted the Cypriot flag. The Company has already chartered the ship for two consecutive voyages and it is in constant negotiation with big oil companies for a time charter if the Board of Directors decides that this will be to the benefit of the Company and the shareholders. On February 2, 2007, Ocean Tankers Holdings Public Company Limited will sign a contract with shipyard Yangzhou Kejin Shipyard Co in Nicosia – Cyprus for the purchase of two new-fangled tankers of double inner-side, which will be delivered on March 31, 2007 and June 30, 2007 respectively.
Sumatec Orders Two Tankers
According to reports, Sumatec Resources Bhd, through its wholly-owned subsidiary Semua Shipping Sdn Bhd, has entered into two shipbuilding contracts with Yangzhou Kejin Shipyard Co Ltd and Jiangsu Guotai International Group Co Ltd for the construction of two 8,000-ton product oil tankers. The purchase will be funded by internally generated fund and bank borrowings. Delivery of the first vessel is expected in August 2008 while the second will be delivered in October 2008.
Sumatec Buys Two Tankers
Sumatec Resources Bhd has ordered two units of 8,000 dwt double-hull product oil tanker from a Chinese shipyard for $11.6 million each. In a statement to Bursa Malaysia on May 22, Sumatec said it had entered into a letter of intent (LOI) with Yangzhou Kejin Shipyard Co Ltd and Jiangsu Guotai International Group Textile Imp & Exp Co Ltd for the purchase of the tankers to serve contracts from oil majors. The first tanker would be delivered by Dec 15, 2007 and the second would in March 2008. Funding for both vessels is from internal sources and bank borrowings. The company added that it had received a letter of intent from a Malaysian oil company to charter both vessels for up to 10 years. (Source: The Edge Daily)
