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Second Hand Ship

Biggest Spenders of 2015

Image: VesselsValue.com

Online ships data platform VesselsValue.com has rounded up the top spenders in terms of second hand tonnage for the first half of 2015.   Leading the industry in total amount spent on second hand tonnage so far in 2015 is U.S.-based Gener8 Maritime, who spent roughly $1.4 billion on 14 vessels. The seaborne crude oil transportation services company formed earlier this year as result of a merger between General Maritime Corporation and Navig8 Crude Tankers Inc.   Second in spending was the Malaysian headquartered tanker shipping group MISC who spent about $1.065 billion on five second hand vessels.   Third was Euronav ($776 million, eight vessels), followed by Ship Finance International ($566 million, 11 vessels) and Sinoker Merchant Marine ($402 million, 10 vessels).   VesselsValue.com noted that it used VV value the day of the sale when sale price was unknown.


Stolt-Nielsen Reports Unaudited Results Q1 2011

stolt-nielsen.bmp

LONDON, April 7, 2011 - Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for the first quarter ended February 28, 2011.  Net profit attributable to shareholders in the first quarter was $31.2 million, with revenue of $458.7 million, compared with $33.0 million and $459.4 million, respectively, in the fourth quarter of 2010. Highlights for the first quarter of 2011, compared with the fourth quarter of 2010, were:


Private Equity Spending Fuels Shipping Sector Risk

Private equity has pumped $32 bln into shipping in past 2 years. Ships totaling 299 mln dwt to enter global fleet from May. Some private equity-backed shipping IPOs have been put off on weak sentiment. The shipping industry faces a looming capacity glut as billions of dollars pumped into it by private equity have stoked a vessel-buying spree, threatening its prospects just as the sector is emerging from its worst downturn in three decades.


Billion-dollar MoU for Shipping Finance

$1 billion Memorandum of Understanding between the Eximbank of China and ING Bank for shipping finance   On October 26, 2015 in the presence of President Xi Jinping and King Willem-Alexander of the Netherlands, ING Bank NV and The Export-Import Bank of China signed a three year Memorandum of Understanding (MOU).   The objective of the MOU is to further strengthen the cooperation between the two parties in the financing of Chinese built ships, both new and second hand


Bahri to Acquire 2 VLCCs

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


Demolition Activity Weakens as BDI Moves Higher

Graph: BIMCO

 After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates, says BIMCO market analysis of Dry Cargo.  This brought earnings into profitable levels for a couple of days, as the BDI passed 1,282 on 27 March 2017.    If earnings are at profitable levels now, how come BIMCO’s Road to Recovery keeps mentioning 2018 and 2019? That’s


CDC Offers SARS Guidelines for Ships

The U.S. Centers for Disease Control and Prevention (CDC) issued guidelines for maritime personnel regarding severe acute respiratory syndrome (SARS). The three guidelines are somewhat redundant with each other. The first focuses on Personnel Boarding Maritime Vessels from Areas with SARS . The second focuses on Workers Handling Cargo or Other Packages . The third focuses on Cruise Ship Passengers and Crew Members . The guidelines point out


Seaarland, Nordic Tankers Sign Joint Venture

Seaarland Shipping Management and Nordic Tankers signed a joint venture that will see both of these companies enter the Handysize product carrier market. The joint venture will involve investment in modern second-hand vessels as well as new buildings. The vessels will be jointly owned by both partners in varying proportions. The first acquisition by the joint venture, the 2000-built 35,820 dwt Hanne, is to be concluded soon


Korean Shipyard Building 18,000 TEU Container Ship

DSME begins work on construction of the world's largest container ship Daewoo Shipbuilding and Marine Engineering has begun constructing the world's largest container vessel after receiving the order from Denmark's AP Moller-Maersk, the shipbuilder has announced. When completed, the 18,000 TEU container ship will measure 400 m in length and 59 m in width, with a deck wide enough to accommodate four football fields


Bulgarian Navy to Add Two New Ships by 2022

Bulgaria's navy is preparing to acquire two fully equipped multifunctional ships by 2022 in a deal estimated to cost about 820 million levs ($477.80 million), Defence Minister Nikolay Nenchev said on Thursday.   The Balkan country's government approved on Wednesday plans to buy new military equipment to improve its compliance with NATO standards and cut its reliance on Russian-made machinery.   "The Bulgarian Naval Forces will have two fully operational patrol ships within


DryShips Acquires Three Kamsarmax Bulkers

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.   


Petrobangla, Summit Pact for 2nd LNG Terminal

Pic: RPGCL, Petrobangla Group

 Bangladesh's State-owned Petrobangla has inked final deals with Summit LNG Terminal Co to development the country's second floating LNG terminal.   The Financial Express reported that Summit group will install a Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali Island in


Japan Steelmakers Scramble for Coking Coal

File Image (CREDIT: AdobeStock / (c) Lukasc Z) )

Japanese steelmakers have bought coking coal from the United States, Canada and China to replace supply lost after a cyclone closed rail links in Australia, their biggest supplier, industry and trader sources said.   Still, the Japanese buyers are paying nearly double the $150 a tonnes


[Update] Two Dead in Bulk Carrier Explosion

At approximately 7:45 p.m., Monday, the captain of the bulk carrier Tamar reported that a second crewmember was killed from an onboard explosion.   The New York Air National Guard’s 106th Rescue Wing pararescuers arrived on board the Tamar at about 9:30 p.m


GasLog Partners buy GasLog Greece

Photo: GasLog

 Greece-based GasLog Partners LP has reached an agreement to buy 100% of the shares in the entity that owns and charters the liquefied natural gas (LNG) tanker GasLog Greece from GasLog Ltd.   The aggregate purchase price for the Acquisition will be $219 million


Navy's Top Officer Visits Naval Station Rota

Photo: United States Navy

Chief of Naval Operations (CNO) Adm. John Richardson and Master Chief Petty Officer of the Navy (MCPON) Steven Giordano visited Naval Station Rota, March 27 and 28.  During their time in Rota, Richardson and Giordono visited the Arleigh Burke-class guided-missile destroyer, USS Ross (DDG 71)


DryShips Acquires Six Vessels

Image: DryShips Inc.

 DryShips Inc.  has entered into agreements to acquire six vessels for a total gross price of $268 million. It has also entered into an agreement with Kalani Investments Limited.   These vessels are comprised of one Aframax tanker built in 2012, three Kamsarmax drybulk vessels


NGOs Push for a Mediterranean ECA

Map: Baltic Ports Organization

An alliance of several European environmental organizations, recently adopted a declaration to designate the Mediterranean Sea an Emission Control Area (ECA), aimed at limiting air pollution from ships.    The document, known as the “Rome Declaration”


India's Oil Imports from Iran top 500,000 bpd in 2016/17

 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


Verifavia Earns Dual Accreditation

Verifavia, an emissions verification company for the aviation and shipping transport sectors, has received a second accreditation by France’s national accreditation body Cofrac as a global EU monitoring, reporting, and verification (MRV) verifier


FPSO Newbuild Shipped to Rotterdam

Jan Willem Verweij and Gert Zwart welcoming the XIN GUANG HUA to the Caland Canal in Rotterdam. (Photo: Royal IHC)

 The team of Vuyk Engineering Rotterdam BV has welcomed the semi-submersible heavy transport vessel Xin Guang Hua owned by Cosco Shipping to the port of Rotterdam, where she will unload the Western Isle FPSO.   The vessel has been built by Guangzhou Shipyard International (GSI) in


Australian Naval Apprentices Excel

NUSHIP Hobart conducts sea trials in the Gulf St Vincent off the coast of Adelaide South Australia. Photo: Royal Australian Navy

 Royal Australian Navy apprentices have been working directly with industry in Adelaide, building on their initial trade training, and at the same time becoming part the next phase of naval warfare from the ground up.   The Air Warfare Destroyer Alliance shipyard has provided a hand-on


China Hands Over Third Patrol Ship to Pakistan

Pic: Mercantile Marine Department,  Ministry of Ports and Shipping

 China has handed a 600-ton patrol ship over to Pakistan’s maritime safety authority in Guangzhou, Guangdong province, PTI reported.   The new ship, just the third of its kind, was built by China Shipbuilding Trading Company Ltd


Global Maritime Community Gathers in Singapore

Photo: Maritime and Port Authority of Singapore (MPA)

 Amid structural and cyclical changes brought about by over-capacity, mega-alliances, increasing digitisation, as well as economic and geopolitical uncertainties, Singapore remains a premier global hub port and leading international maritime centre that held steady growth in 2016.  


Antwerp Port Gets off to the Strongest Start Ever

Photo by Port of Antwerp

 The port of Antwerp handled 54,324,303 tonnes of freight during the first three months of this year, 1.5% more than in the same period last year. The further growth is mainly due to container freight, which was up by 2% in terms of tonnage.   






 
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