Es Group News

Singapore-based ship builder ES Group said its unit ES Shipping has terminated a five-year demise charter contract for bunker vessel, Sea Tanker I, with Sea Hub Tankers. "Under the five-year demise charter contract  entered into on 23 November 2012, between the Company’s wholly-owned subsidiary, ES Shipping, and Sea Hub Tankers, ES Shipping had agreed to demise charter Sea Tanker I to Sea Hub Tankers for a monthly charter fee, with the bunker vessel ownership to be transferred to Sea Hub Tankers upon payment of full consideration at the end of the Demise Charter Contract," said a statement from the company. The board of directors of…

One vessel has arrived in Singapore waters, and the other is to be delivered in Q1 2013. Sea Tanker I has arrived in Singapore waters and is currently undergoing local certifications and surveys. It is now expected to be delivered to the charterer by the first quarter of 2013 instead of the planned second half of 2012. Sea Tanker II, which will be sold to the charterer of Sea Tanker I (the purchaser), is currently undergoing commissioning and sea trials in Thailand, and is now expected to be delivered to that purchaser by the first half of 2013 instead of the planned 2H2012. Barring any unforeseen circumstances, the demise charter of Sea Tanker I and the sale of Sea Tanker II…