The board of Zim Integrated Shipping Services Ltd. has approved the purchase of two container ships for $266.4 million and has option on a third, according Globe Online. The ships will be delivered in early 2010. Last June, the company announced plans to buy eight new container ships for $1 billion from South Korea’s Hyundai Shipyards. This purchase will increase Zim’s fleet by 30%. Source: Globe Online
The board of National Shipping Company of Saudi Arabia (Bahri) has approved the purchase of two second-hand very large crude carriers (VLCCs) for $155 million, it said in a bourse statement on Thursday. Bahri will take delivery of the carriers between Jan. 14, 2016 and Feb. 1, 2016, the statement said, adding the financial impact of the ships would appear in its first quarter of 2016 earnings. The ships were purchased from Alpha and Beta VLCC LLC, a subsidiary of Tanker Investment Ltd
Minoan Lines subsidiary Minoan Flying Dolphins added to a recent flurry of vessel acquisition with the purchase of 10 more ferries for an undisclosed amount, bringing its total fleet to 63 vessels. The ferries purchased are: Poseidon Express II, Pegasus, Milos Express, Papadiamantis, Poseidon Hellas, Aeas, Apostolos, Hellas, Aphaea and Aegina. Minoan Flying Dolphins' fleet includes 34 new technology ships, 25 of conventional technology, and four RoRo ships.
Stolt-Nielsen S.A. announces that Stolt-Nielsen Transportation Group Ltd. (SNTG), a 100% owned subsidiary of SNSA, purchased today 5,400 of SNSA Common Shares on the Oslo Børs at an average price of NOK 190.57 per share (approximately $29.69 at the current exchange rate). The shares were purchased in accordance with the repurchase program announced on August 25, 2005, authorizing Company to purchase up to $200 million worth of its Common Shares or related American Depositary Shares.
During the Subcommittee on Coast Guard & Maritime Transportation hearing on President Obama’s Fiscal Year 2010 Budget Requests for the United States Coast Guard, United States Maritime Administration and Federal Maritime Commission, Chairman Elijah E. Cummings made the following opening statement: “The Subcommittee convenes today to examine the fiscal year 2010 budget requests for the Coast Guard, Federal Maritime Commission, and the federal Maritime Administration.
In the last month, we have seen the Baltic Dry Index (BDI) recover to the same level it was 12 months ago (see circles in fig.1). Vessel values have started to firm, but not at the same rate and are still at historically low levels. In the last 12 months, contrarian owners have taken advantage of the low values and have been buying cheap tonnage. With hindsight, this looks to have paid off with many values having increased above the purchase price.
Royal Caribbean Cruises has implemented electronic purchasing technology to cut the $1bn it spends annually on resources for its ships. The cruise operator completed a switch to vendor Ariba’s software technology last month, and is using a web portal to purchase goods ranging from ship parts to food and drink. The firm also hopes to reduce purchasing costs and administration through a managed service contract with Ariba, which will process past invoices and accounts payable data.
Kirby Corp. signed an asset purchase agreement with Coastal Towing, Inc. to purchase from Coastal seven black oil tank barges and 13 inland towboats. The transaction, estimated at $17.1 million in cash, is being financed through Kirby's operating cash flow and available credit under Kirby's bank revolving credit agreement. Kirby and Coastal have also entered into a Barge Management Agreement whereby Kirby will serve as manager of the combined black oil tank barge fleet
Imperial Majesty Cruise Line purchased the S.S. OceanBreeze from Premier Cruise Lines, said President Arthur M. Pollack. The total value of the deal, including the purchase price and planned upgrades to the vessel, is in excess of $16 million. "The purchase of the OceanBreeze reaffirms our commitment to the short-term cruise concept and the South Florida market," said Pollack. The OceanBreeze began to sail under its new ownership on May 20
(Oslo, 16 March 2011) Thome Ship Management, one of the world's leading independent international ship managers, has chosen MarineLink eCommerce provided by EDB ErgoGroup as the sole eCommerce provider for its purchasing operations. The three year contract covers its entire fleet of about 150 vessels. E-business solutions are not new to Thome Ship Management, as the group has been using e-business solutions since 2005
Navios Maritime Partners, an international owner and operator of drybulk and container vessels, announced that it has agreed to acquire one 2010-built Capesize vessel of 178,132 dwt for a purchase price of $27.5 million. The vessel is expected to be delivered to Navios Partners'
Hunter Maritime Acquisition Corp. said it has entered into definitive agreements pursuant to which it has agreed to purchase, for an aggregate purchase price of $139.4 million in cash, five identified Capesize dry bulk carriers in an en-bloc transaction from five Cyprus-based companies affiliated
The Wilhelmsen group has signed an agreement to acquire the technical solutions business from Drew Marine. “This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division,” said Wilhelmsen group CEO, Thomas Wilhelmsen.
Norway’s DOF Subsea AS said it has purchased the remaining shares in Canadian Subsea Shipping Company AS. Before the transaction, DOF Subsea AS owned 45 percent of the shares in the company. Canadian Subsea Shipping Company AS has a newbuild vessel under construction at
With the Polar Code now in force, Thordon Bearings has urged shipowners and managers to verify that their vessels’ deck machinery and systems can operate safely in the extreme temperatures encountered in Arctic and Antarctic seas. Scott Groves
Damen Shiprepair Dunkerque (DSDu) has completed major refurbishment works to the yard’s floating dry dock. The dock, capable of taking vessels up to 180 meters in length and lifting 14,000 tonnes, is owned by the Port of Dunkerque (Grand Port Maritime de Dunkerque – GPMD) and
ABS, a provider of classification and technical services to the marine and offshore industries, has successfully implemented the ABS NS Fleet Management Software suite for Hadi Hammad Al Hammam Group, a leading service provider to the oil and gas industry in the Middle East.
India's Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day (bpd) as refiners boosted purchases after lifting of some Western sanctions against Tehran last year. India, Iran's biggest oil buyer after China
Revolution Lighting Technologies, Inc. said its 2-foot T8 LED tube has been certified by the U.S. Navy for the military standard, and is now ready for use in the U.S. Navy fleet. The manufacturer has also received an official part number (National Stock Number 6240-01-610-2124) that can
Lloyd’s Register invests in ship management software provider Hanseaticsoft in move to build a marine and offshore Industry 4.0 Lloyd’s Register (LR) said it has made a significant investment in Hamburg-based ship management software provider Hanseaticsoft.
The Energy Independence and Security Act of 2007 (the 2007 Act) authorized a Short Sea Transportation (SST) Program. As passed by the House, the legislation would have authorized $2 billion for the Maritime Administration (MARAD) Title XI Program and have extended the Capital Construction Fund
Asian spot LNG prices edged lower this week amid thin trade for May cargoes and as focus shifts towards June supplies. Spot prices for May delivery of LNG in Asia fell by 35 cents to $5.40 per million British thermal units (mmBtu), as interest for May cargoes weaken because most end-users
Vigor said it has entered into an agreement to purchase a drydock from a Korean seller, continuing the shipbuilder’s ongoing infrastructure investments and expansion of U.S. West Coast drydock capacity. At 640 feet long with a clear width of 116 feet, the new dock will be the third
DryShips has entered into agreements with unaffiliated third parties to purchase three Kamsarmax drybulk carriers built in 2014. One 81,918 DWT Kamsarmax drybulk carrier is built in 2014. The company expects to take delivery of this vessel during the second quarter of 2017.
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that it has priced its previously announced underwritten public offering of 17,500,000 common shares, par value US$0.01 per share, at a price of US$4.00 per share.