Quintana Buys 17 Ships for $735m
Cargo shipping company Quintana Maritime Ltd. said it is buying 17 ships from a private Greek shipowner for about $735 million, according to a report in the Houston Chronicle. The fleet, purchased from Metrobulk, includes three Panamaxes and 14 Kamsarmax bulkers. The ships are on a long-term charter with Bunge SA, a unit of Bunge Ltd., the company said.
Greek Shipowners Invest Hugely in New Ships
Greek ship-owners bought 72 ships within the first three months of 2013, invest US$848-million in their companies. While the Greek government continues to mull plans to tax the country’s shipping industry to raise money during a crushing economic crisis, Greek ship-owners bought 72 ships within the first three months of 2013 and invested $848 million in their companies, a $244 million increase and an additional 32 ships from the previous year, reports the 'Greek Reporter'. During the period from January-March 2013, 315 ships worth $3.476 billion changed hands worldwide, while Greeks remain at the top of the buyers and the Chinese follow with the purchase of 19 ships worth $117 million. Source: Greek Reporter
Indonesia's Arpeni Buys New Vessels
Arpeni Pratama Ocean Lines said it plans to invest $130 million to buy 24 vessels to strengthen its fleet this year. The company had additional equity amounting to $33.1m from a rights issue last year, but the fund will not be enough to cover the expansion, Suhendra said. According to sources, a number of local and foreign banks have offered loans for the company to buy the ships. The types of vessels to be bought include tug boats, barges, floating cranes and large ships for coal transport. (Source: Antara/Asia Pulse)
Quintana Buys 17 Ships for $735m
Quintana Maritime Ltd. said Friday it is buying 17 ships from a private Greek ship owner for about $735 million. Quintana is financing the purchase with loans and $191 million in cash proceeds from a private placement of roughly 2 million shares that closed Thursday. The fleet, purchased from Metrobulk, includes three Panamaxes and 14 Kamsarmax bulkers. The company said the purchase will boost cash flow per share in 2007 when all the ships have been delivered. The ships are on a long-term charter with Bunge SA, a unit of Bunge Ltd., the company said. Shares of Greece-based Quintana rose 10 cents to $8.15 in morning trading on the Nasdaq. Source: AP
McCain Wants Delay for LCS Deal
According to a Dec. 15 report from the Green Bay Press Gazette, Sen. John McCain pushed for a delay in Senate approval of a U.S. Navy plan to buy 20 ships — 10 of which would be built at Marinette Marine Corp. The Navy officials said a delay in the process could further stress vendors and shipyards as they wait for Congress to make a decision about a Navy proposal to buy 10 littoral combat ships each from Lockheed Martin and Austal USA. (Source: Green Bay Press Gazette)
Evergreen To Buy Five Ships From MHI
Shipping giant Evergreen Marine signed a letter of intent to buy five large cargo ships from Japan's Mitsubishi Heavy Industry. A spokeswoman for the Taiwan shipping firm said it was negotiating to buy 6,300-6,400 TEU ships from the Japanese firm. She said Evergreen would aim to take delivery of the ships by 2002 but further details, such as the price of the vessels, had not been settled.
Globus Maritime Buys Cargo Ship
According to Thomson Financial, Globus Maritime Ltd has agreed to buy a dry bulk cargo ship, currently under construction at Yangzhou Dayang Shipyard in China, for 57m. The provider of seaborne transportation services for dry bulk cargoes said it will fund the acquisition with a mixture of funds raised from an initial public offering and moderate conventional debt, and that the buy will enhance its earnings and dividends. The ship is expected to be delivered in December and added that its fleet will expand to seven dry bulk carriers.
China Shipping Development to Buy Four Ships
According to a Reuters report, China Shipping Development Co. said it would buy four very large ore carriers (VLOCs) from Chinese shipbuilders for $400m to develop its ore import business. Each ship will have capacity of 230,000 deadweight tonnes, said the company. It said the purchase would be funded from the company's own resources or through bank loans. Last month, China Shipping Development said that in another deal, it would buy four large iron ore carriers for $460m. [Source: Reuters]
UAE Group Buys Third Ship From Hitachi
A United Arab Emirates company has reportedly signed a contract with Japan's Hitachi Zosen Corp. to buy a third bulk carrier at a cost of about $22 million. The Dubai-based al-Ghurair group signed deals to purchase two ships from Hitachi last year. The first ship is expected by the end of this year, and the other two will be delivered early in 2002.
Zim to Buy Cargo Ships for $266.4m
The board of Zim Integrated Shipping Services Ltd. has approved the purchase of two container ships for $266.4 million and has option on a third, according Globe Online. The ships will be delivered in early 2010. Last June, the company announced plans to buy eight new container ships for $1 billion from South Korea’s Hyundai Shipyards. This purchase will increase Zim’s fleet by 30%. Source: Globe Online
Taiwan Shipbuilder Denies Orderbook Collapse
According to an April 19 report from the Taiwan News, Taiwan International Shipbuilding denied reports that its business had collapsed after Zim Integrated Shipping Services Ltd. canceled order. Vice General Manager Wang Ko-hsuan told Taiwan News that Zim Integrated Shipping did cancel a plan to buy six ships, but it still had more than 50 vessels left to build. Ko-hsuan said there would be no layoffs for five years and no wage cuts. (Source: Taiwan News)
Report: OMERS to Buy V. Ships
According to a report posted on Reuters, Canadian pension fund Ontario Municipal Employees Retirement Scheme (OMERS) is reportedly set to buy V. Ships, one of the world's biggest ship managers, for about $500m. (Source: Reuters)
Leaked Report Criticizes UK Defense Programs
According to an August 24 report from The Guardian, the UK government was urged to publish an official 296-page report by Bernard Gray, a former senior Ministry of Defence adviser, warning of “lethal" weakness in government programs. The report complained that it takes 20 years to buy a ship, or aircraft, or tank and seems to cost at least twice what was thought. (Source: The Guardian)
Rochester Ferry Contracts May Cost $3.1M
Rochester city officials estimate that they will need $3.1 million to buy out existing high-speed ferry contracts or continue them if necessary, according to legislation before City Council, according to the Rochester Democrat & Chronicle. The amount is included in an expense list justifying the mayor’s request to borrow $9.4 million from the city insurance reserve and close out ferry operations. Other expenses include repaying manager Bay Ferries Great Lakes LLC, which is owed $2.5 million; payments on the $40 million borrowed to buy the ship and begin operations last year; and maintenance, personnel and insurance until the ship is sold. The latter expenses are just an estimate and assume that the boat will be here through the fall.
SCI to Buy 35 Ships
Reports indicate that Government owned Shipping Corporation of India (SCI) are planning to spend around $1.4h on acquisition of 35 vessels. The company is now aiming on energy transportation for growth. They already own around 82 ships but most of them are bulk carriers and tankers. SCI wants to now diversify into port operation and rail transport for further growth and expansion. Source: Techwhack
SCI May Buy Ships
Shipping Corporation of India has sought government approval for acquiring more ships, according to a report on http://sify.com. SCI has sought approval for 2 Capesize Bulk Carrier, 6 Handymax Bulk Carriers, 2 container vessels of 4,300 TEU and 6 LR -1 size product tankers.
SCI to buy 26 Ships
Shipping Corporation of India (SCI) will acquire 26 vessels over the next 16 months, according to a report published today in the Business Standard. The company proposed to acquire 16 vessels in four markets, it planned to go for block approval for 10 vessels, a Shipping, Road Transport and Highways Minister reported. On the issue of LNG shipping guidelines that make it mandatory for a company bringing in LNG into the country to have 26 percent Indian participation. Source: www.business-standard.com
Bourbon Offshore Buys Chinese Ships
Bourbon Offshore Norway AS is paying $52 million to China`s Zhejiang Shipbuilding Co. Ltd. for four platform supply ships. The Ulstein P105 vessels will be delivered between September 2007 and September 2008, BON said Wednesday. Bourbon has already taken delivery of two type Ulstein P105 vessels from Ulstein Verft. Bourbon Topaz was delivered in February 2005 and Bourbon Peridot towards the end of October 2005. Source: M&C News
Report: A.P.Møller-Mærsk to Order 25 ships in China
A.P.Møller-Mærsk is still prepared to invest in new ships from China and is going to order 25 ships in the course of one year, wrote the newspaper China Business News according to the news agency AFX. An unnamed employee at A.P.Møller-Mærsk’s office in China has told the newspaper that the shipping line last week signed a deal to buy four container ships at the Dailan Shipbuilding Industry and 80 tons deadweight tug vessels at Quingdao Qianjin. During the last 10 years A.P.Møller-Mærsk has bought 75 ships in China for about DKK 17.6 billion. According to AFX this makes the Danish shipping company the largest foreign buyer of ships from China. (Source: http://borsen.dk)
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.
SCI to Buy 76 Ships for $3.3B
Shipping Corp. of India Ltd. plans to buy 76 vessels for about $3.3b over the next six years, The Financial Express reported. This is the first major fleet acquisition proposal by the state-run carrier in recent years. The ships would be bought through the rest of the 10th plan period and end of the 11th plan till 2012. The 10th plan is the official span for development budgeting by the government between 2002 and 2007. The 11th plan would cover the following five years. (Source: The Financial Express)
Stolt-Nielsen to Buy 3 Ships
Chemical transportation company Stolt-Nielsen SA said it is buying three used tanker ships for about $40 million. The company said its wholly owned subsidiary, Stolt-Nielsen Transportation Group, has exercised an option to purchase the tankers, currently on charter, from Montana Ship Holding AS. According to Stolt-Nielsen, it chartered the ships in December 2001 with an option to buy at any time. The company said the three ships are to be converted at a cost of $7.5 million to meet new safety regulations that will take effect Jan. 1 next year. (Source: http://news.moneycentral.msn.com/)
Zim to Buy Eight Ships for $1.36B
Israel Corp. subsidiary Zim Integrated Shipping Services Ltd. said it had placed an order to purchase eight mega container ships from the South Korea’s shipyard Samsung Heavy Industries Co. Ltd. The deal, valued at $1.37b, ($170m each) comes six weeks after Zim Integrated Shipping Services Ltd. announced its plan to upgrade its container vessels fleet. The company had ordered eight TEU 12,600 mega containership for delivery by July 2012. The purchase will substantially increase the Israeli-based carrier's fleet when the vessels arrive in 2012. The order took the global shipping sector by surprise, since Zim had generally bought its containerships from rival South Korean's Hyundai Shipyards.