Combination Carrier News

BHP has partnered with Pan Pacific Copper (PPC), a member of JX Nippon Mining & Metals group, and Norsepower, provider of auxiliary wind propulsion systems, to reduce greenhouse gas (GHG) emissions from maritime transportation between BHP’s mines in Chile and PPC’s smelters in Japan. The parties are conducting a technical assessment and plan a retrofit installation of wind-assisted propulsion system onboard the M/V Koryu, a combination carrier operated by Nippon Marine – a member of SENKO group (shares held by SENKO 60%, JX Nippon Mining & Metals 40%).

Klaveness Combination Carriers ASA (KCC) on Tuesday took delivery of Balzani, its eighth and final vessel in a series of CLEANBU combination carriers from New Yangzi Shipyard in China.The vessel is scheduled to load its first cargo of clean petroleum products in early July.The CLEANBUs are unique vessels both in terms of design and their operational and technical efficiency. These vessels have up to 40% lower CO2 emissions per ton mile transported cargo compared to standard vessels…

Norway-based shipowner Klaveness Combination Carriers said it took delivery of a new combination carrier vessel from the New Yangzi Shipyard in China on Monday.The Baiacu is the sixth in a series of eight contracted CLEANBU combination carriers built for transportation of both wet and dry bulk cargoes. According to Klaveness, CLEANBUs vessels have up to 40% lower CO2 emissions per ton mile transported cargo compared to standard vessels, in line with IMO’s 2030 targets for shipping.Baiacu's…

Norway's Klaveness Combination Carriers (KCC) has raised 350 million Norwegian crowns in a private share placement, valuing the shipping firm at 2.27 billion crowns ($259.57 million) ahead of an Oslo stock market listing on May 22.Following the successful private placement, KCC has declared two options for the construction of the seventh and eight CLEANBU combination carrier with Jiangsu New Yangzi Shipbuilding Co., Ltd in China.The two newbuilds are scheduled for delivery in January and February 2021. Following the declaration, the KCC fleet will grow to 17 vessels within 1st quarter of 2021. The company holds options for further vessels.“We…

Norway-based shipowner Klaveness Combination Carriers (KCC) has declared an option for the construction of a sixth combination carrier, CLEANBU, with Jiangsu New Yangzi Shipbuilding Co., Ltd in China.The delivery date is scheduled for fourth quarter 2020. The construction of the five sister vessels is progressing in line with schedule and the first vessel will be delivered in December 2018/January 2019.Following the declaration, the KCC fleet will grow to 15 vessels by the end of 2020. The company holds options for further vessels.“We are very happy to grow the CLEANBU fleet further and believe we are well positioned to capitalize on the improving product tanker and dry bulk markets.

Norwegian shipping company  Klaveness Combination Carriers (KCC) has declared an option for the construction of a combination carrier with Jiangsu New Yangzi Shipbuilding Co., Ltd in China. The delivery date is scheduled for second quarter 2020. KCC already has four sister vessels under construction at the same yard with delivery in 2018-2020. Following the declaration, the KCC fleet will grow to 14 vessels by 2020. The company holds options for further vessels. "Our fleet of combination carriers and container vessels set standards for efficient and environmentally friendly shipping. Klaveness has a history of developing innovative ship designs, challenging the status quo of sea transport," says the dry bulk owner company.

The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”, Torvald Klaveness said. Earnings before tax (EBT) for 2017 ended at a loss of USD -2 million. Torvald Klaveness maintained a high solidity and good liquidity in 2017. Stronger markets resulted in improved results for the container segment and the dry bulk segment compared to 2016. The combination carriers continue to deliver satisfactory results, although impacted by a weak tanker market.

Ship Finance International Limited (NYSE:SFL) ("Ship Finance" or the "Company"), today announced that it has agreed to sell the 20-year old combination carrier Front Breaker to an unrelated third party and has simultaneously agreed to terminate the corresponding charter party with a subsidiary of Frontline Ltd. ("Frontline"). Delivery to the new owner is expected to be in May 2011 and Ship Finance expects to receive net proceeds of approximately $17.9 million including $6.6 million charter termination compensation payment from Frontline.

B+H Ocean Carriers Ltd. has acquired a 98,000dwt OBO, or combination carrier, committed to a Time Charter at $27,000 from delivery through March 13, 2006, plus or minus one month. The vessel will be delivered to the Company during April. This vessel, to be renamed Sachuest, has some particularly attractive attributes in the present market environment, the Company said, including the ability to trade as both a tanker and a dry bulk carrier, plus the fact that it has 24,227 tons of steel with a present salvage value of almost $10 million. The Company stated that it estimates that the vessel will generate EBITDA at a rate slightly in excess of $7 million on an annualized basis, excluding the time and expense for its scheduled drydocking in the third quarter of 2004.

B+H Ocean Carriers Ltd. Has acquired a 1993-built, 83,000 DWT Combination Carrier to be renamed MV SAKONNET for $36.4 million. The purchase, made effective as of January 15, 2006, also reflects the continuation of a five-year Time Charter which commenced in October, 2005. The purchase was effected through an existing tax lease structure with the Company as disponent owner through a bareboat charter party. Additionally, the company announced that it acquired a 50 percent disponent owner interest in another vessel, a 1992-built 75,000 DWT Combination Carrier, presently named MV SIBOTESSA. This purchase was also effected through an existing tax lease structure. The Company acquired its 50% interest in an entity which is the disponent owner through a bareboat charter party.

Secondhand tonnage brokers reported the sale of the following vessels. Type Name Built DWT Price ($M) Tanker Serena Sky 1976 154,934 $3.75 Tanker Serena Star 1977 154,934 3.75 Tanker TN Emerald 1982 45,306 $2.15 Bulker Alpha Centauri 1985 179,836 11.3 Bulker Azalea Sea 1990 52,580 7.2 Bulker Libra Australia 1994 24,444 15 Combination Carrier Peregrine X 1983 135,160 5.5 Tanker Ancora 1974 238,066 $127.5/ldt Tweendecker Fontana 1978 14,967 $111.5/ldt Bulker Dalaki 1969 29,156 $124/ldt

The Shipping Corporation of India Ltd (SCI), today signed contracts with Daewoo Ship Building and Marine Engineering CoLtd of South Korea for building and delivering two Very Large Crude Carriers (VLCCS). The tankers, to be built at DSME's shipbuilding yard in South Korea, would have a deadweight of about 300,000 tonnes at the design draft of 21.5 metres. The tankers would be built as per the latest and most stringent International Regulations and would be classed with the ABS and IRS Classification Societies.