Marine Link
Friday, January 19, 2018

Acquire Two News

GOGL Acquires New Vessel

File Photo: Golden Ocean Group Ltd

Norway based dry bulk shipping company Golden Ocean Group Limited (GOGL) has  taken delivery of the second vessel, Sea Monterrey (to be renamed Golden Monterrey). On October 16, 2017 GOGL announced that it has entered into agreements to acquire two modern Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family (Hemen), the Company's largest shareholder, at a purchase price of USD 43.0 million per vessel. The first vessel, Golden Behike, was delivered in November 2017.

Global Oceanic Carriers Acquires Two Ships

Global Oceanic Carriers Ltd, the AIM-listed Greek dry bulk shipping company, said it is acquiring two more ships and is proposing to enter into new ship management agreements for its entire fleet.The company, which did not disclose the value of the deal nor disclose the terms of the management proposal, added it has appointed Jefferies International as its sole nominated adviser and broker with immediate effect. (Source: AFX)

Navios Maritime Announces Acquisition of Four Newbuilding Tankers

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced  that it has agreed to acquire two newbuilding chemical tankers and has also exercised the options to acquire two MR2 product tankers for an aggregate purchase price of $130.2 million. Navios Acquisition has agreed to acquire two newbuilding chemical/product tankers for approximately $33.6 million each. The vessels are 45,000 dwt each, with estimated deliveries in the third quarter of 2013. Upon delivery, these vessels will be named the Nave Universe and the Nave Constellation. Each vessel has been chartered out to a quality counterparty for two years at a rate of $14,869 net per day, plus 50% profit sharing based on a formula.

Baltic Trading to Buy Two More Ultramax Bulkers

Bulk carrier: File photo

Baltic Trading Limited continues to execute its growth strategy with the exercise of its option to acquire two additional Ultramax newbuildings. The two option vessels, which will have the same specifications and purchase price as the Ultramax newbuildings Baltic Trading previously agreed to acquire, are expected to be delivered to Baltic Trading during the second and third quarters of 2015. John C. Wobensmith, President and Chief Financial Officer, commented, "Management's strategic…

NAT Buys 2 Suexmax Tankers

Nordic American Tankers Limited (NAT) acquires two modern Suezmax tankers, increasing the fleet to 26 vessels    Tanker shipping company NAT announced that it has agreed to acquire two Far East built Suezmax tankers for a total price of approximately $122 million.   The vessels, with an average age of five years, are expected to be delivered to NAT in September and October 2015. NAT said it does not plan to issue equity to finance these two vessels.   According to NAT, the acquisition represents a natural step in the company’s development as the addition of two more ships increase its dividend capacity and earnings potential.

TBS Acquires Two Ships

TBS International Limited entered into agreements to acquire two sister tweendeckers, the M.V. Wedellsborg and the M.V. Frijsenborg. TBS has agreed to acquire these vessels en bloc for $46m charter free and they are expected to be delivered to the Company in the first quarter of 2008. The M.V. Wedellsborg, to be renamed the M.V. Ottawa Princess, is a 1987 built tweendecker of 22,800 dwt and the M.V. Frijsenborg, to be renamed the M.V. Caribe Maiden, is also a 1987 built 22,800 dwt tweendecker. In addition to these two vessels, TBS also expects to take delivery of three handysize bulk carriers (the MVs Oneida Princess, Mohave Maiden, and Zuni Princess) and one additional multipurpose tweendecker (the M.V. Hopi Princess) by the end of the first quarter 2008.

Paragon Moves on Containerships

Paragon Shipping Inc. has sold one of its newbuilding Kamsarmax contracts and has also entered into agreements to acquire two 3,400 TEU newly built containerships from their builder Howardtwerke-Deutsche Werft, GmbH, Germany at a price of $49m. The container vessels are scheduled to be delivered to Paragon between July and August, 2010. “We have taken advantage of favorable conditions in the sale and purchase markets to sell one of our Kamsarmax newbuilding contracts and also to acquire two 3,400 TEU newbuild container vessels with prompt delivery within July and August 2010,” said Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping.

Rand Logistics Acquires Two Vessels

Rand Logistics Inc. Voyageur group of companies for $23.7m. Additionally, the company entered into a contract of affreightment with Voyageur for the exclusive use of a third vessel, and secured an option to acquire this vessel. Management anticipates the three vessels will be immediately accretive to EBITDA and net income for Rand. customers for these vessels. on the vessels will be grain. crew manning on the three vessels. U.S. Company. warrants.

Trico Marine to Acquire Two Large North Sea Platform Supply Vessels

Trico Marine Services, Inc. has signed a definitive agreement to acquire two 279-ft. (85 m) platform supply vessels for a cost of approximately $4.4 million. The two state-of-the-art, UT 745 design vessels are currently under construction in Norway and are slated for delivery in April and August 2002. Payment terms for each of the vessels call for payments equal to 20 percent during construction and 80 percent upon delivery. "The UT 745 vessels, which are equipped with DP2 (dynamic positioning) systems, are among the largest, most technologically-advanced platform supply vessels available in the industry today,'' said Thomas E. Fairley, president and CEO.

Excel Maritime to Acquire Two Supramax Vessels

Excel Maritime Carriers Ltd an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has entered into agreements to acquire two Supramax bulk carriers, to be renamed M/V July M and M/V Mairouli, for $63m per vessel. The M/V July M was built in 2005 at Oshima Shibuilding Co. Ltd. in Japan and has a carrying capacity of 55,567 dwt. The M/V Mairouli, was built in 2005 at Imabari Shipbuilding Co. Ltd. Japan and has a carrying capacity of 53,206 dwt. The vessels are expected to be delivered to the company within the fourth quarter 2007. have a fleet of ten Panamax, two Supramax and six Handymax vessels with a total carrying capacity of 1,074,022 deadweight tons with an average age of 12.9 years.

Palmer Johnson To Acquire Two Companies

Palmer Johnson, Inc. announced this week the signing of a letter of intent to acquire two companies: Richman Marine, Inc., a worldwide yacht chandlery company, and Global Yacht Fuel Inc., an international fuel bunkering company. Both companies are based in Fort Lauderdale, Fla. According to Palmer Johnson’s President and Chief Executive, Phil Friedman, the acquisitions expand the size and scope of Palmer Johnson’s On Call yacht chandlery and logistical support unit. With the latest acquisitions, Palmer Johnson On Call becomes one of the most comprehensive yacht service and support operations available.

Stabil Drill Acquires Two LA Firms

Lafayette, La.-based Stabil Drill, a Superior Energy Services Company subsidiary, has acquired to drilling tool firms based in Youngsville, La. Donnie Williams Tool Company and J&S Hole Opener Rentals, which both operate throughout the Gulf Coast, both were acquired by Stabil Drill.

Suezmax Tanker Delivered to NAT

Nordic American Tankers Limited (NAT) has today taken delivery of the first of two recently purchased secondhand Suezmax tanker vessels.   NAT announced in July that it had agreed to acquire two 2010-built ships for delivery in September and October 2015. The first of these ships was taken over by NAT today and renamed Nordic Light.   Upon delivery of Nordic Light’s sister ship in October, NAT will have a fleet of 26 Suezmax vessels including two new builds scheduled to be delivered in August 2016 and in early 2017.   

Canadian Superior Acquires Offshore Acreage

Canadian Superior Energy Inc. acquired two major exploration licenses offshore Nova Scotia from the Canada-Nova Scotia Offshore Petroleum Board. It has been advised by the Canada-Nova Scotia Offshore Petroleum Board that Canadian Superior was successful in acquiring two large offshore drilling licenses totaling 822,000 acres offshore Nova Scotia at the Canada-Nova Scotia Offshore Petroleum Board's November 1, 2001 Land Sale (See Canadian Superior's website at www.cansup.com to view "Offshore Nova Scotia Maps" and location of new lands and proposed industry wells). Company President Greg Noval said that the two licenses named the "Mayflower"…

General Maritime to Acquire Aframax Vessels

General Maritime Corporation has agreed to acquire two 2002-built double hull Aframax vessels from or its affiliates for an aggregate purchase price of $137 million. The Company expects to take delivery of the two double hull vessels, subject to customary closing conditions, between July and October 2008. General Maritime plans to finance the acquisition through borrowings under its $900 million revolving credit facility and cash from operations.

Scorpio Tankers to Acquire Two Handymax Vessels

According to a report from Platts, Scorpio Tankers will acquire two 51,000 deadweight ton product tankers for $70m, the company said. The ships were built in 2008 at the STX shipyard in Korea and are charter free and expected to be delivered in the first half of May.   (Source: Platts)

Baltic Trading Snaps Up Bargain Price Capesize Bulkers

Baltic Trading Limited has has agreed to acquire two 179,185 dwt Capesize vessels for an aggregate purchase price of $103.0 million. The two vessels, built in 2012 and 2011 by Hyundai Heavy Industries, are expected to be delivered to Baltic Trading by the end of the fourth quarter of 2013. Upon completion of the acquisition, which is subject to the completion of customary documentation and closing conditions,  Baltic Trading will own 13 drybulk vessels, consisting of four Capesize vessels, four Supramax vessels and five Handysize vessels with a total carrying capacity of approximately 1,095,000 dwt and an average age of approximately 3.6 years.

Global Oceanic Carriers Acquires Bulk Carrier

Global Oceanic Carriers Limited, a global provider of marine transportation services for dry bulk cargoes, announces today that the company has entered into an agreement to purchase a Handymax vessel charter-free for $37m. The vessel, acquired from ABG Shipping Limited will be renamed to M/V “GO Friendship” and is scheduled for delivery in August 2007. The M/V GO Friendship was built in Korea in 1994 and has a carrying capacity of 44,875 dwt. The company intends to finance this acquisition with banking facilities. Upon delivery, the M/V GO Friendship will operate under a fixed-rate period time charter for 3 years with Samsun Global Corp. $26,850 per day.

TBS Acquires Tweendeckers

TBS International Limited announced that it has entered into agreements to acquire two sister tweendeckers, the M.V. Wedellsborg and the M.V. Frijsenborg. TBS has agreed to acquire these vessels en bloc for $46 million charter free and they are expected to be delivered to the Company in the first quarter of 2008. The M.V. Wedellsborg, to be renamed the M.V. Ottawa Princess, is a 1987 built tweendecker of 22,800 dwt and the M.V. Frijsenborg, to be renamed the M.V. Caribe Maiden, is also a 1987 built 22,800 dwt tweendecker. In addition to these two vessels, TBS also expects to take delivery of three handysize bulk carriers (the MVs Oneida Princess, Mohave Maiden, and Zuni Princess) and one additional multipurpose tweendecker (the M.V. Hopi Princess) by the end of the first quarter 2008.

Premuda To Use $30M Bond To Buy Ships

Italian shipping company Premuda SpA has completed a $30.9 million bond issue in order to acquire more ships. The bond issue will give Premuda greater liquidity and allow it to acquire further bulk ships following a significant upward trend in dry cargo shipping markets, company officials said. Premuda officials said the company's affiliate, United Bulk International, recently acquired two 1993-built Panamax bulk carriers for about $26.7 million. The bonds will mature in five years and are limited to existing shareholders. The new bulk carriers, due to be delivered in the next few weeks, will take the group's fleet to 20 vessels including four oil tankers being built in Korea for delivery in 2001.

Navios Partners Acquires Capesize Vessel

Navios Maritime Partners L.P., an international owner and operator of dry bulk and container vessels, said it has agreed to acquire one 2009 Japanese-built Capesize vessel of 180,274 dwt for a purchase price of $28.3 million. The vessel is expected to be delivered to Navios Partners' owned fleet by August  2017. The dry bulk vessel is expected to generate approximately $3.7 million of annual EBITDA based on the current rate environment (Clarkson’s 1-year time charter rate for Capesize vessels as of April 28, 2017), assuming operating expenses approximating current operating costs and 360 revenue days. Navios Partners said it expects to finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.

Songa Bulk Buys Kamsarmax Pair

FIle Photo: Logimatic

Songa Bulk has sealed two more bulker acquisitions as its fleet. According to a report in Reuters, the company entered into an agreement to acquire two kamsarmax bulk carriers built in 2008 at tsuneishi japan (82,107 dwt) and 2011 at hyundai samho korea (81,502 dwt). Vessels have been acquired at an aggregate sum of usd 32.85 million. The 2011 built vessel will delivered by mid May and the 2008 built vessel within the end of September. The 2011 built vessel has a charter party attached with a duration until end November 2017 at USD 8,075 per day net.

Omega to Expand Fleet

Omega Navigation Enterprises, Inc. will acquire two newbuilding Ice Class 1A Panamax product tankers. The vessels, which will be named the Omega Emmanuel and the Omega Theodore upon their delivery to the Company, each have a capacity of approximately 73,000 dwt. and are both currently under construction at STX Shipbuilding Co., South Korea. The Omega Emmanuel is expected to be delivered on March 23 and the Omega Theodore is expected to be delivered on April 26. Following the delivery of these vessels, Omega Navigation will have a fleet of eight product carriers with a combined cargo carrying capacity of approximately 512,358 dwt. The…

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News