Emax E-Volution: The Fastest and Greenest Superyacht Ever?
Designed by Sauter Carbon Offset and built by Ned Ship, the 66m Emax E-Volution is, according to the designer, a culmination of the best the yachting world, a vessel with a maximum speed of 28 knots and an unlimited "Zero Carbon" cruising range at 14 knots. Highlights of the design include. - 2MWs of ZF Hybrid Power supplied by MTU 2000 series Tier 4i engines, the cleanest marine diesel engines on the market. - An additional 3MWs of energy harnessed from sustainable sources is stored and employed as ballast in a lithium ion UPS.
Cheng Completes Deal with Louis Dreyfus, DVB Nedship
Fred Cheng’s new shipping company, Shinyo International, has purchased the 1998-built 43,000dwt bulk carrier Bara from Louis Dreyfus Armateurs SNC of France. The ship is chartered back to CETRAGPA (Louis Dreyfus) for a period of four years. The transaction marks the first post-Golden Ocean acquisition by Cheng. It also reflects the core industrial shipping approach taken by Cheng over his twenty five years as a shipowner. DVB Nedship Bank provided the mortgage finance for the acquisition out of the bank’s Hong Kong office. The ship will be managed by Univan Ship Management, also of Hong Kong. Dagfinn Lunde, Chairman and CEO of DVB Nedship Bank stated…
Fred Cheng Completes Deal with Louis Dreyfus, DVB Nedship
Fred Cheng's new shipping company, Shinyo International, has purchased the 1998-built 43,000dwt bulk carrier Bara from Louis Dreyfus Armateurs SNC of France. The ship, which will be managed by Univan Ship Management of Hong Kong, is chartered back to CETRAGPA (Louis Dreyfus) for a period of four years. Mortgage finance for the acquisition was provided by DVB Nedship's Hong Kong office.
Disputed Tanker Fleet Bought
Norwegian tanker mogul Tom Steckmest bought out bondholders with whom he was due to clash in the New York courts over control of a fleet of six petroleum product tankers. "The existing bonds have been amicably cancelled and all disputes settled," Steckmest said. Shipping sources said he had paid $135 million to cancel the bonds in addition to $8 million he paid last year for equity in the ship-owning company First International. The bondholders lent most of the $257 million to build the fleet of tankers, which have worked all their lives on long-term charters to oil major Shell. Both parties asked the courts in April to decide which of them controlled the future employment of the six vessels, after the bondholders refused to accept a new contract Steckmest had negotiated with Shell.
Minoan Lines To Sign Loan
Ferry operator Minoan Lines will sign a $253.5 million syndicated loan jointly arranged by Citibank and National Bank of Greece to finance four highspeed ferries under construction, according to officials. Participating in the syndicated loan are Bayerische Hypo und Vereinsbank, Commercial Bank of Greece, Deutsche Schiffsbank, Landesbank Schleswig-Holstein Girozentrale, Alpha Credit Bank, BNP, Commerzbank, Meespierson, Schiffhypothekenbank zu Luebeck, Nedship Bank, ABN AMRO Bank and Efibanca.
