Hansa Hamburg Shipping Launches Investment Fund
Hansa Hamburg Shipping International announced the launch of its latest fund issue, Margara mbH & Co. KG. The fund is available for subscription immediately and offers prospective investors the opportunity to invest in a state-of-the-art, highly versatile, double-hull Panamax tanker. "We are pleased to offer our investors an exciting capital investment opportunity with a planning horizon of around 14 years", explains Hansa Hamburg director Erich Schlegel. According to Schlegel, given the tanker's attractive purchase price and the favourable long-term market fundamentals, the fund is well-positioned for an above-average return on investment. Investors have the option of subscribing to the 2004 or 2005 tranches of the ordinary capital, the preference capital, or a combination of all three.
Croatian Shipyard Delivers Oil Tanker To Doria Shipping
3.Maj BrodogradiliŔte (MAJ), of Rijeka Croatia, delivered the first oil tanker of a series of four to Doria Shipping. In March, 1997 3.MAJ was contracted to build four 71,345-dwt oil tankers for $150 million. With the financing help of Merrill Lynch International of London, and the full support of the Croatian government, the company successfully in finalizing this order. Built for the transportation of crude oil and oil products, M/T Margara, has five pairs of cargo and one pair of slop tanks. Double sides were applied in fuel tanks, for the vessel's compliance with all international environmental requirements.
3.MAJ Delivers Innovative Tanker
Croatian-based shipyard, 3.MAJ BrodogradiliŔte, delivered the first of a contracted four-part tanker series this past August. Named M/T Margara, the 71,345-tdw oil tanker was constructed for Monte Carlo based owners subsidiary Doria Shipping Co., registered in Valetta, Malta. The $150 million contract for the vessels' construction was signed in March 1997, with a term loan facility arranged by Merrill Lynch Intl. of London, who provided financing during construction. The Croatian Government, who arranged for a counter bank guarantee to be obtained from Croatian Bank for Reconstruction and Development, provided additional assistance. The Maltese-flagged, ABS-classed vessel, which is intended for transportation of crude oil and oil products, measures 750 ft. (228.5 m) with a gt of 40,705.
