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Bob Burke News

04 Sep 2016

Tanker Sale & Purchase Update

For now, the Sale & Purchase (S&P)  market is pretty dead (because the charter markets are also slightly lifeless). S&P transactions for tankers have almost halved so far this year (Jan 1-Sept 2), reports  Alibra Shipping Ltd. Research. This year, Alibra has tracked 191 tankers changing hands, compared to 303 at this point last year. Some 15 VLCCs have been sold this year, compared to 42 during the 2015 period. This year, 4 VLCCs have been sold as resales compared to 20 this time last year. The tragedy of the S&P market really snaps into focus when we look at the average price at which resale VLCCs were sold: during the 2015 period, it was $98.9m per vessel. This year to date, the figure is just $84.25m.

10 Apr 2014

Ship Ready to Destroy Syria's Chemical Arms at Sea

The container ship M/V Cape Ray departs Portsmouth, Va., Jan. 10, 2014, for sea trials. U.S. Navy photo by Petty Officer 3rd Class Lacordrick Wilson

Experts on board a cargo ship transformed into a multimillion dollar chemical weapons destroyer said on Thursday they were ready to start working on Syria's stock of toxic arms in the middle of the Mediterranean as early as May. Now they just have to hope the weather holds and Damascus delivers on time. Former container vessel Cape Ray, docked in southern Spain, has been fitted out with at least $10 million of gear to let it take on about 560 metric tonnes of Syria's most dangerous chemical agents and sail them out to sea, said officials.

11 Apr 2013

New U.S. Tankship Company Secures Huge Investment

Ridgebury Tankers LLC announce a $200 million commitment from Riverstone Holdings LLC, alongside a $5.7 million commitment from Ridgebury management. The Connecticut-based Company will use the capital to acquire clean product carriers of all sizes and in the crude sector will focus primarily on Suezmax vessels. Ridgebury is led by its Founder and CEO, Bob Burke , who has been involved in the shipping industry for over 30 years in a variety of capacities. Mr. Burke's extensive executive shipping experience includes tanker operations, chartering activities for vessels, direct equity investments and financings, and the ownership and operational management of companies across several shipping sectors.

23 Sep 2009

US Delegation at 2009 WISTA Conference

 Photo courtesy WISTA

Reflecting its dramatic growth and participation as an organization, the United States fielded the largest visiting national delegation attending last week’s Women’s International Shipping & Trading Association (WISTA) Annual Conference. The US delegation was second only to the host country, the United Kingdom. The Conference was held at the International Maritime Organization (IMO) in London, with a theme of “Direction:  Diversity…Route:  Corporate Social Responsibility.”  The Conference was attended by nearly 300 WISTA members from around the globe…

04 Apr 2002

As Banks Step Down, Equipment Finance Companies Step Up

Shipowners are known for having distinct differences of opinion, but the one thing that all agree on is the importance of having access to capital. In an industry in which assets are generally big-ticket items and operating margins can be thin, access to proper financing serves the dual purposes of fleet growing the generation of healthy operating returns. Most shipowners would also agree that financing for maritime assets generally isn't easy to find. There are various reasons for this. One reason is that few lenders focus exclusively on marine finance and a result most lending institutions are not familiar enough with marine assets to feel comfortable financing them.

20 Jun 2007

Chembulk Tankers Celebrates Launch

CHEMBULK MARKS OFFICIAL LAUNCH AT MARITIME INDUSTRY GATHERING Amidst an array of industry supporters, Chembulk Tankers, the 21st Century Chemical Carrier Company, launched the newly formed company at a gathering last week held at the R. Jinishian Gallery in Fairfield, CT. The company-- which was formed in January as an acquisition by CEO Bob Burke and the AMA controlled ACP Fund II—entertained maritime industry luminaries surrounded, appropriately, by maritime art. The Chembulk fleet currently consists of fifteen 21st Century high specification stainless steel chemical tankers, with another to be delivered next month and three more next year. All the ships were built to accommodate current and future regulations on the environment and safety.