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Tuesday, January 16, 2018

Buy Two News

Zim to Container Ships

Zim Integrated Shipping Services Ltd. will buy two container ships of 2,450 TEU each, and will have an option to buy two more ships of the same size. Three of the ships are slated for delivery during 2010 and the fourth during the first quarter of 2011. The price of the first two ships is $45.9 million each, and the price of the optional ships is $47.8 million each. Source: Globes Online

Frontline Buys Two Tankers

Norwegian shipping firm Frontline is to buy two 1993 tankers from Wilh. Wilhelmsen for a total of $90 million in shares and cash. It will reportedly pay Wilhelmsen 2.96 million Frontline shares and $62 million in cash for the two VLCCs, Tartar and Tarim. Wilhelmsen would book a loss of $15 million from the sale, Frontline said. The vessels are scheduled to be delivered during May/June.

Qatar Shipping To Buy Two Vessels

Qatar Shipping Co. plans to buy two new vessels worth $24 million each. General manager Nasser Saeed al-Sulaitah said the decision to purchase the vessels, which would each transport 35,000 tons of clean petroleum products and petrochemical products, was made in light of the firm's plans to produce vinyl. He said the company has received offers from shipbuilding companies in South Korea, Japan and China and that the firm would study the offers and review their technical aspects.

Zim to Spend $1.36b on Container Ships

Zim Integrated Shipping Services Ltd. announced last week it would buy up to eight new mega container ships for $170m each, for a total of $1.36b. The company said that it would take an option to buy one more ship and should the option materialize the total order value could reach $1.53b. According to Zim, the eight ships will each have a container capacity of TEU 12,600. The new ships will be delivered in 2012. Last June, Zim Integrated Shipping Services Ltd. bought two container ships of 2,450 TEU each, and will have an option to buy two more, which will be due for delivery in 2010-11. Source: Port2Port

China Merchants Shipping Approved to Buy Six Oil Tankers

China Merchants Energy Shipping Co. Ltd. (SHA 601872) said orders for six oil tankers have been approved by the National Development and Reform Commission (NDRC). In April, the company said it plans to buy two very large crude carriers (VLCC) displacing 300,000 deadweight tons and two tankers displacing 110,000 dwt from Dalian Shipbuilding Industry Co. Ltd. for $343m. In June, the company signed a $232m order with Dalian Shipbuilding to buy two VLCCs displacing 300,000 deadweight tons. The tankers will be delivered between December 2009 and March 2011. [Source: http://www.tradingmarkets.com]

Omega to Buy Tankers from STX

Omega Navigation Enterprises, a Greek shipowner whose shares trade in New York and Singapore, plans to buy two tankers that carry refined oil products from South Korea's STX Shipbuilding Co for US$64.5 million each. The Omega Emmanuel and the Omega Theodore, which have a capacity of 73,000 deadweight tons each, are so-called ice-class ships that are capable of navigating icy waters, the company said. The ships are due for delivery on March 23 and April 26. Omega also has options to buy two ships for delivery in the third quarter. An expected increase in shipments of refined oil products from the Middle East to Europe, Asia and the US may support demand for product tankers, EA Gibson Shipbrokers said in a recent report.

Bergesen Orders Two More VLCCs From HZ

Bergesen d.y. Group ASA exercised an option to buy two more VLCCs from Japan's Hitachi Zosen Corp. The total option price for the 296,000 dwt vessels is about $131.7 million. The two vessels will be delivered in March and May, 2001. Bergesen also announced that it has bought oil/ore carrier Grand Phoenix for $23 million. The 291,000-dwt carrier, built in Japan in 1986, will be delivered by the end of March.

Excel Buys Two Vessels

According to reports, Excel Maritime said it plans to buy two Supramax bulk carriers for $126m, or $63m per vessel. The first vessel has a capacity of 55,567 deadweight tons and was built at Oshima Shipbuilding Co. Ltd. in Japan. The second vessel has a capacity of more than 53,206 deadweight tons and was built by Imabari Shipbuilding Co. Ltd. Both ships were built in 2005. Both vessels will be delivered to Excel Maritime in the fourth quarter.

Asia Distillates: Gasoil Firms as Vitol, Glencore Buy

Asia's cash premium for benchmark 500ppm gasoil stayed firm on Friday as a buying spree in the Singapore cash market continued with a total of 10 deals for 500ppm gasoil, with Vitol and Glencore buying most of the cargoes. Buying interest in the Singapore cash market would likely continue for a while, traders said, although it was not immediately clear where the cargoes will head to. Traders added that they are pinning their hopes on regional demand picking up and refinery cuts to curb supply. India's Mangalore Refinery and Petrochemicals Ltd has cut runs at its 300,000-barrels-per-day refinery after the detection of a leak in one of the plant's two hydrocrackers, a company source said. "There was a marginal leak detected in Hydrocracker-II at about 3:30 p.m.

NLNG Buys Two Gas Vessels

Nigeria Liquefied Natural Gas (NLNG) purchased two vessels owned by Duke Energy to transport gas from the Bonny LNG plant. The company said it had long-term chartered the ships in 1995 for 22.5 years with provisions for an extension or outright purchase within the period 2001 and 2006. The company is exercising the right to buy the vessels outright one year ahead of schedule. The $3.8 billion Bonny plant in southeast Nigeria began LNG production in October.

GE Shipping to Buy Bulk Carriers

Great Eastern Shipping Company Ltd (GE Shipping) informed the Bombay Stock Exchange that it has contracted to buy two new building Kamsarmax dry bulk carriers, according to a report on http://sify.com. The 80,700 dwt vessels are expected to join the company’s fleet during the fourth quarter of 2010-11 and the first quarter of 2011-12, respectively. GE’s current fleet stands at 48 vessels comprising 36 tankers (14 crude carriers, 20 product tankers, two LPG carriers) and 12 dry bulk carriers with an average age of 11.3 years aggregating 3.29 million DWT, according to the report on http://sify.com.

Diana Shipping to Buy Container Ships

According to a June 21 report from Reuters, Greek drybulk carrier Diana Shipping Inc. said it would buy two new containerships through its unit for about $45.5m. The two 3,400 TEU container ships were built in Germany. Diana said the first vessel, expected to be delivered by June 25. (Source: Reuters)

Egypt, Other Countries Interested in French Mistral Warships

About 10 countries, including Egypt, are interested in buying two French helicopter carriers whose planned sale to Russia has been cancelled due to the Ukraine crisis, a source familiar with the situation said. A second source, a French diplomatic source, said that other countries interested include Brazil, Singapore, Saudi Arabia and Canada, which could be the most suitable candidate for the ships because they were designed for cold waters. France, whose navy already operates three of the Mistral helicopter carrier warships, has no use for the two ships and will have to pay Russia nearly 1.2 billion euros ($1.3 billion) for cancelling the contract. The first source also said that Egypt is negotiating the possible exercise of its option to buy two Gowind corvettes.

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 three and a half to six years," Nenchev said during a visit to the Black Sea city of Varna. Nenchev said the cost for the two ships, which could be used for the defence of other vessels, oil platforms and convoys and have a helicopter on board, could be cut by about 30 percent if built in shipyards in Bulgaria.

Tidewater To Purchase Platform Supply Vessels

Tidewater, Inc. has signed agreements, (which are subject to completion of normal due diligence matters), to buy two 220 ft. UT755 type platform vessels at an aggregate purchase price of $2.4 million. The vessels are currently being built by Norwegian shipyards for scheduled deliveries in December 2000 and May 2001.

Samsung Wins LNG Ship Orders

Britain's BG Group Plc agreed to buy two new liquefied natural gas (LNG) ships from South Korea's Samsung Heavy Industries Co. Ltd. with an option for six more ships. BG said the price of the ships was commercially confidential but was less than three percent of BG's market capitalization -- which currently stands at 9.4 billion pounds ($13.3 billion). - (Reuters)

GE Shipping Unit Orders AHTS

Great Eastern Shipping Co. Ltd. said on Monday its subsidiary had signed a contract to buy two vessels from Sri Lanka's Colombo Dockyard Ltd. The anchor handling tug and supply vessels would be delivered to Greatship (India) Ltd. during the third and fourth quarters of the year to March 2008, the company said in a statement. Source: Reuters

Frontline Buys Two Double-Hull Tankers

According to an April 19 report from the Associated Press, shipping company Frontline announced that it has bought two double-hull tankers that will be delivered in either May or June. (Source: Associated Press)

Indian Oil Corp Seeks LNG Cargoes for December

Indian Oil Corporation has launched a tender seeking to buy two liquefied natural gas (LNG) cargoes for December delivery which is due to close on Oct. 25, trade sources said.   IOC is to take receipt of the volumes on Dec. 6 and Dec. 21. (Reporting by Oleg Vukmanovic; editing by Susan Thomas)

DP World to buy Dubai Maritime City, Drydocks World

File Image: A DP World Port Terminal (DP World)

DP World said on Monday that it had entered into a deal to buy two other Dubai state-owned maritime companies for a total of $405 million.   The Dubai-based ports operator will acquire Maritime World, the 100 percent owner of Dubai Maritime City, for a purchase consideration of $180 million, and 100 percent of Drydocks World by means of a capital injection of $225 million.   Both deals are expected to close before the end of the first quarter of 2018, it said. Reporting By Tom Arnold 

Giuseppe Bottiglieri Buys Two Bulk Carriers

Giuseppe Bottiglieri purchased two more newbuildings at Chinese shipyard Jiangsu Yangzijiang. The President of Giuseppe Bottiglieri di Navigazione SpA shipowning company said that the two bulkcarriers are sister vessels of the six Post Panamax (92.500 dwt) ordered last January. According to the company, in an effort to build the company’s modern fleet of bulk carriers, this $100m investment in the dry cargo sector comes after an order that was placed in January.

Esnaad Buys Two Rolls Royce Tugs

The UK based Rolls Royce Group has sold two UT780 tugboats to the UAE's Esnaad, a unit of the Abu Dhbai National Oil Company, according to agency reports. The boats, which will be able to handle high temperatures, are being built in Indonesia and will be ready in Q1 2008. Although the value of the deal was not disclosed, the purchases are the first part in a $200m fleet replacement program. Source: AME Info.

Chinese Petroleum Corp. Exercises VLCC Tender

Taiwan's state-owned Chinese Petroleum Corp (CPC) has bought two very large crude carriers (VLCC) of West African crudes via its September tender, a company official said on Thursday. The volumes were below CPC's usual purchase of three to four VLCCs per month. Each VLCC can load up to two million barrels each. "We have high inventories and not so much requirement," the CPC official said. The details of the tender, which closed on Monday, were still unclear. CPC usually buys an array of Cameroon, Nigerian and Congolese crudes and its regular sellers include TotalFinaElf, Agip and Chevron. For August, CPC had bought cargoes of Escravos, Djeno, Palanca, Odudu and Kole to make up three VLCCs.

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

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