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Vessels For Sale

Bourbon 2009 Financial Results

For 2009, Bourbon reported robust earnings driven by the growth of the Offshore Division. EBITDA excluding capital gains was up 9.4%. “The 2009 results illustrate the good increase of the offshore activity due to the growth of the fleet and to its utilization rate, which remains high despite the market downturn during the year,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. “Net income group share reached a satisfactory level compared with 2008, when capital gains on sales of vessels and sales on equity interests were recorded.” Revenue growth for the year reflected two contrasting changes: - The strong growth in Offshore Division revenues (+20.5%), helped in particular by favorable exchange rates. - The sharp decline in Bulk Division revenues, due to the change in charter rates. Excluding capital gains, gross operating income (EBITDA) reached €346.3 million for the year, i.e. an increase of 9.4% for the group. The EBITDA of the Offshore Division alone grew by €70.8 million i.e. plus 29.4%. Gross operating income (EBITDA) was nearly stable at €347.5 million after taking into account very high capital gains recorded in 2008. Operating income came to €213.1 million, down 10.9% compared with 2008 when the Bulk Division posted a historically high performance essentially attributable to capital gains on sales


Bourbon 2009 Financial Results

For 2009, Bourbon reported robust earnings driven by the growth of the Offshore Division. EBITDA excluding capital gains was up 9.4%. “The 2009 results illustrate the good increase of the offshore activity due to the growth of the fleet and to its utilization rate, which remains high despite the market downturn during the year,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon


CMB Continues Fleet Rejuvenation

CMB confirmed that its subsidiary, Bocimar and Wah Kwong, have sold the panamax vessel Yasmine Venture (2006 - 73,546 dwt) - ordered in joint venture in 2003 from Jiangnan (China) - to Diana Shipping. The net sale price amounts to $39.6 million, and CMB will realize a capital gain of approximately $5.5 million on this sale. Also, Bocimar and Oak Maritime have concluded an agreement with Chang Myung Shipping (Korea) for the sale of the joint venture vessel Mineral Oak (1996 - 165,693 dwt).


Japanese Yards Form Alliance

Three major Japanese shipbuilders are forming an alliance on commercial vessels and ocean engineering to survive competition with South Korean shipyards. The three firms -- Ishikawajima-Harima Heavy Industries, Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd will cooperate on joint procurement of materials and design skills for building commercial vessels, aiming to cut production costs. They will decide in one or two years whether to spin off their divisions for


Bourbon Achieves $770m USD in Vessel Sales in 2013

Photo:  Bourbon

In line with its strategy, BOURBON achieves US$ 770 million of vessel sales in 2013. Bourbon has sold 12 additional vessels to ICBC Financial Leasing for US$ 378 million and concluded a new sale and bareboat charter agreement with Standard Chartered Bank for US$ 150 million. They also announced the transfer of ownership of 12 vessels to the Chinese company ICBC Financial Leasing ("ICBCL") for a total value of approximately US$ 378 million


Rickmers to Sell its Last 9 Vessels to Navios

File photo: Rickmers Maritime

 HSH syndicate, comprising HSH Nordbank and DBS Bank, has approved the sale of the remaining nine of 14 vessels of Singapore-based Rickmers Trust Management for some $54 million to Navios Partners Containers and Navios Partners Containers Finance.  The total consideration will also include an amount to support settlement of operational cash deficits to closing, said Rickmers Trust Management in an update on the winding up of Rickmers Maritime.  


Knight & Carver Promotes LoCoco to VP

Knight & Carver YachtCenter has promoted Giovanni LoCoco to the newly created position of Vice President/Operations. The announcement was made by Sampson A. Brown, the boat-building company’s president/chief executive officer. LoCoco, who has been with Knight & Carver for 19 years, now oversees all three divisions – new-vessel construction, vessel repair/refits/repowers and wind-turbine blade manufacture and repair. A native San Diegan, Mr


Blue Star Maritime to Sell Catamaran

Greece's Blue Star Maritime SA said it signed an agreement to sell its catamaran Seajet 2 for $3.6M to the Sea Jet II Shipping Co The delivery of the vessel is expected to take place by the end of March. Part of the sale price will be paid when the vessel is delivered, while the credited amount of $3M will be paid in monthly instalments until September 2006. Blue Star said the vessel sale is part of its policy to focus on the operation of fast, modern, conventional vessels.


TEN Announces Sale of the Panamax Bregen

Tsakos Energy Navigation Ltd. (TEN) announced the sale of the 1989-built double hull Panamax tanker Bregen. Following the sale of 1987-built Crux and 1988- built Libra during the third quarter of 2006, the sale of the Bregen represents the disposition of the last remaining 1980's built tanker in the Company's fleet. The vessel will be delivered to its] new owners in the first quarter of 2007, and as a result of the sale, TEN] will recognize a capital gain of $5 million at that time.


Scorpio Tankers Sell One Accept New One

Scorpio Tankers Inc. announce sale of the 'STI Diamond', accept delivery of newbuild 'STI Topaz'. The Company completed the sale of the 'STI Diamond' and sale of a second vessel, the STI Coral, is expected to be completed in September 2012. Scorpio took delivery of the STI Topaz, the second of ten vessels scheduled for delivery under its newbuilding program. Upon delivery, the vessel began a time charter for up to 120 days at $16


Uotinen Joins Robert Allan Ltd.

Sami Uotinen (Photo: Robert Allan Ltd.)

Sami Uotinen will join naval architecture firm Robert Allan Ltd. on October 1, responsible for European Business Development initiatives, operating from Turku, Finland.   Uotinen, a graduate naval architect, joins Robert Allan Ltd


Rolls-Royce, Inmarsat Sign Ink Energy Management Deal

Photo courtesy of Rolls-Royce

Rolls-Royce and Inmarsat have signed a Letter of Intent (LOI) to have the option to make the company’s Energy Management system available via Inmarsat Maritime’s Fleet Xpress high-speed broadband service.   With data collected from a multitude of ship control systems and


Norwegian Authorities Investigation on HARRIER

Photo: NGO Shipbreaking Platform

 The HARRIER is still under arrest in Norway after its owners failed to illegally set sail for the dangerous and dirty scrapping yards in Gadani, Pakistan, last February. The owners are now forced to find a safe and environmentally sound recycling destination.  


Michelsson to Join Evac

Tomas Michelsson (Photo: Evac)

Waste, wastewater and water management systems provider Evac has appointed Tomas Michelsson as the President, Offshore and Merchant business area, effective January 8, 2018.   Michelsson will replace the former President, Claes Rudling, who has retired during the summer.   


APM Terminals Sells Paranagua Port Stake

Photo: Terminal de Contêineres de Paranaguá

 APM Terminals announced the sale of its 5% share in Terminal de Contêineres de Paranaguá (TCP) to China Merchants Port Holdings.    The share sale was initiated and led by Advent, who is the controlling shareholder of TCP


MHI-MS, Jiangsu Masada Ink Boxship Crane Deal

Pic: Mitsubishi Heavy Industries

Mitsubishi Heavy Industries Mechatronics Systems has concluded a licensing agreement with Jiangsu Masada Heavy Industries for the manufacturing and sale of hose handling cranes and slim deck cranes for container ships.    The license granted to Jiangsu Masada follows similar agreements


Vitol Signs Deal with Angola LNG

Photo: Vitol

 Angola LNG (ALNG) and Vitol, the world’s largest independent energy dealer, have entered into a multi-year LNG sales agreement. Under the agreement, ALNG cargoes will be delivered to Vitol at destinations around the world.  


ABB to Power the ‘Anti-cruise Ship’

(Image: ABB)

ABB will provide the power and propulsion for the first in a series of vessels that mark Ritz Carlton’s first foray into the maritime sector. The 190-meter long vessel has been dubbed the “anti-cruise ship” because it can accommodate just 298 passengers and is aimed at providing


Torqeedo Opens Bangkok Office

(Photo: Torqeedo)

Torqeedo said it has opened a new office in Bangkok, Thailand, to accommodate its rapid growth in Asia and the Pacific (APAC) region.   The company reports an expanding focus on marine preservation, sustainable tourism, ecofishing and the electrification of commercial vessels have created a


VDL AEC Maritime to Reduce Ship Emissions

Photo: AEC Maritime

 Following on from the electrification of heavy duty mobility in the form of cars, buses, automated guided vehicles and tractor units, VDL Groep intends to continue help reducing the emissions from means of transport.    The family-owned international industrial business


Parpala Joins The Switch

Ville Parpala (Photo: The Switch)

 The Switch has recruited Ville Parpala as Director, Product Marketing, Marine Solutions, as it targets its ambition of achieving growth of 200 percent in the marine segment across the next five years. The firm, a specialist in the development and supply of advanced drive train solutions


Six Companies Buy Oil from US Emergency Crude Reserve

Six companies bought 14 million barrels of oil from the U.S. Strategic Petroleum Reserve in a sale required by law to help fund medical research and the federal government, said the Department of Energy on Thursday.   BP Oil Supply, Exxon Mobil Corp, Phillips 66 , Shell Trading


More Cars Shipped Via The Port Of Gothenburg

Photo: Gothenburg Port Authority

 During the first quarter of the year, new car exports and imports passing through the Port of Gothenburg rose by 12 per cent compared with the first quarter of 2016.    The Port of Gothenburg became the number one vehicle handling port in Scandinavia


Scorpio Tankers Updates on Fleet Status

Photo: Scorpio Tankers Inc

Scorpio Tankers sold and leased back, on a bareboat basis, three 2013 built MR product tankers, STI Beryl, STI Le Rocher and STI Larvotto to Bank of Communications Financial Leasing in April 2017.   The sales price was $29 million per vessel and the company bareboat chartered-in the vessels


Wärtsilä Tests Wireless Charging for Hybrid Coastal Ferry

Wärtsiläs wireless charging system is the first in the world to operate successfully with a coastal ferry.  (Photo: Wärtsilä)

Wärtsilä informs it has tested its automatic wireless induction charging system on a hybrid powered commercial coastal ferry, the first in the world operating with high power wireless charging capability for its batteries.  






 
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