Genco Shipping to Acquire Drybulk Vessels
Genco Shipping & Trading Limited announced that the it has agreed to acquire three drybulk vessels from affiliates of Franco Compania Naviera S.A., for an aggregate purchase price of $81.25 million. The acquisition is subject to customary closing conditions and the vessels are expected to be delivered between August and November of 2006. Genco is to finance the acquisition of the three vessels through borrowings on its $550 million revolving credit facility. The three vessels to be acquired are: the Anita, a 1999 Japanese-built Panamax vessel to be renamed the Genco Acheron; the Koby, a 1998 Japanese-built Panamax vessel to be renamed the Genco Surprise; and the Paige, a 1994 Japanese-built Handymax vessel to be renamed the Genco Commander.
Offshore Vessels Enhance Saudi's MMG Capability
Mohammad Al-Mojil Group (MMG) have announced the delivery of three state-of-the-art vessels for its fleet in the Marine Services Department, according to a Saudi Gazette news item. Of the three vessels, two have a length of 54 meters. The third one is a crew vessel which has operational capabilities and a capacity for up to 70 passengers. All the three vessels are now operational and provide marine support services to Saudi Aramco’s floating oil and gas platforms under the five-year contract MMG signed with the oil company in December 2011. MMG President and CEO Ebrahim Zadeh said addition of these three vessels in the fleet…
Navy Certifies Three Vessels for Paperless Navigation
The U.S. Navy has certified three vessels to navigate without paper charts using Electronic Chart Display and Information Systems-Navy (ECDIS-N) supplied by Northrop Grumman Corporation. The three vessels â€“ USS Antietam (CG 54), USS Stethem (DDG 63) and USS Oklahoma City (SSN 723) â€“ join USS Cape St. George (CG 71), which was the first U.S. Navy ship to be approved for paperless navigation. The ECDIS-N systems were supplied by Northrop Grummanâ€™s Sperry Marine business unit under a fleet-wide program to upgrade the Navyâ€™s surface ships and submarines with ECDIS-N in support of a Chief of Naval Operations (CNO) directive to institute paperless navigation across the entire fleet.
ABB Wins Contracts Totalling $140M
ABB won contracts worth $140 million to supply its Azipod propulsion systems for three vessels and electrical power systems for 11 vessels and two semi-submersible drilling rigs. • Six 10 Megawatt (MW) Azipod propulsion units for three Arctic shuttle tankers being built for Russia’s Sovcomflot at Samsung Heavy Industries in South Korea for delivery between 2007-2009. The order also includes main generators, main switchboards, propulsion transformers, propulsion drives and propulsion and remote control systems from ABB. • A contract to outfit three vessels at Aker Langsten shipyard in Norway. These include electrical propulsion systems for one well intervention vessel and one anchor handling…
Danaos to Acquire Three Containerships
Danaos Corporation has signed contracts to acquire three 1998 built, 2,200 TEU containerships. These vessels, the Hyundai Progress, the Hyundai Bridge, and the Hyundai Highway were built by Hyundai Heavy Industries. The size of this deal is in the region of $90m and the vessels are expected to be delivered to Danaos on February 11, March 17 and March 18, 2008. The acquisition will be financed by existing credit facilities and own funds. Danaos also announced that subsequent to the acquisition agreement it has arranged ten-year charter agreements for these three vessels with Hyundai Merchant Marine at fixed daily rates which reflect current market conditions. Upon delivery to Danaos, all three vessels will have just concluded their five year dry-docking planned maintenance.
GulfMark Orders Three PSVs from Poland
GulfMark Offshore, Inc. (NYSE: GLF) announced the initiation of a vessel construction program. The first three vessels in the program will be built by Remontowa Shipbuilding SA in Gdansk, Poland, and consists of two 1000 square meter deck area platform supply vessels of the MMC887CD design and one MMC879CD design with a deck area of over 800 square meters. These large and technologically advanced vessels have been designed to meet the demanding requirements for supporting deepwater and harsh environment activities, and are expected to operate in the North Sea market. The first MMC887CD vessel is expected to be delivered in the second quarter of 2013. The second MMC887CD vessel and the MMC879CD vessel are expected to be delivered in the third quarter of 2013.
Rand Logistics Acquires Two Vessels
Rand Logistics Inc. Voyageur group of companies for $23.7m. Additionally, the company entered into a contract of affreightment with Voyageur for the exclusive use of a third vessel, and secured an option to acquire this vessel. Management anticipates the three vessels will be immediately accretive to EBITDA and net income for Rand. customers for these vessels. on the vessels will be grain. crew manning on the three vessels. U.S. Company. warrants.
Eagle Bulk Takes Supramax Vessel
Eagle Bulk Shipping Inc. the Supramax segment of the dry bulk shipping industry, has taken delivery of the Tern, a 2003 built 50,209 dwt Supramax dry bulk vessel. announced on June 23. the final of these three vessels later this month. rate of $19,000 per day. Upon delivery of the third vessel the Eagle Bulk Shipping Inc. fleet average age of approximately 5.5 years.
Diana Containerships Acquires Three Panamax Container Vessels
ATHENS, GREECE, April 14, 2011 – Diana Containerships Inc. (NASDAQ: DCIX), a global shipping company specializing in the transportation of containers, today announced that it has signed three Memoranda of Agreement (one with Maersk Line UK Ltd., and two with A.P. Moller Singapore Pte. Ltd.) for the purchase of three Panamax container vessels, MV “Maersk Madrid”, MV “Maersk Malacca”, and MV “Maersk Merlion”. The MV “Maersk Madrid” is a 1989-built vessel of 4,206 TEU capacity. The purchase price for the MV “Maersk Madrid” is U.S.$22.5 million.
Box Ships Takes Delivery Of Third Containership
ATHENS, Greece, May 9, 2011 – Box Ships Inc., (NYSE: TEU), or the Company, a global shipping company specializing in the transportation of containers, announced today that it has taken delivery of the Maule, a 6,589 TEU container vessel built in 2010, from an unaffiliated third party. This vessel has a fixed rate period time charter term of five years (with charter option of plus / minus 30 days) with CSAV Valparaiso Chile at a gross daily charter rate of $38,000. The Maule is the third of the six vessels comprising the Company’s initial fleet to be delivered.
Rickmers-Linie Secures Tonnage
monthly liner service from Europe to the Middle East and India. All three vessels are now being renamed whilst being drydocked in Shanghai. Mumbai and Leon will become Rickmers Chennai. take place at the beginning of July. and project cargoes. non-containerisable cargo and heavy lifts.
GasLog Completes Acquisition of 3 LNG Carriers from BG Group
GasLog Ltd. announced that it successfully completed the acquisition of three LNG carriers from an affiliate of BG Group plc (“BG”), which was previously announced on April 10, 2014. This completes the second acquisition of ships from BG by GasLog in 2014. The acquisition of the first three vessels was announced in January and completed in April. The three ships subject to today’s announcement will be chartered back to BG for six-year initial terms on average. The time charters for the three vessels are staggered with one for 5.5 years, one for 6 years and one for 6.5 years, so that the three vessels will not redeliver at the same time. BG has options to extend the term of the time charters for two of the ships for a period of either three or five years at its election.
Danaos to Acquire Three Containerships
Danaos Corporation announced that it has signed contracts to acquire three 4,814 TEU vessels from A.P. Moller-Maersk Group. These vessels, the MC Kinney Maersk, the Mayview Maersk and the Madison Maersk, were delivered to A.P. Moller-Maersk Group from the Odense Staalskibsverft shipyards in 1991. Upon delivery to Danaos these vessels will be renamed to Maersk Marathon, Maersk Messologi and Maersk Mytilini respectively. The acquisition cost will be $43.15 million per vessel and they are expected to be delivered to Danaos on December 11, December 17, and December 21, 2006 respectively. The acquisition will be financed through existing credit facilities and own funds.
Danaos to Acquire Three Containerships
EDanaos Corporation announced that it has signed contracts to acquire three 4,814 TEU vessels from A.P. Moller-Maersk Group. These vessels, the MC Kinney Maersk, the Mayview Maersk and the Madison Maersk, were delivered to A.P. Moller-Maersk Group from the Odense Staalskibsverft shipyards in 1991. Upon delivery to Danaos these vessels will be renamed to Maersk Marathon, Maersk Messologi and Maersk Mytilini respectively. The acquisition cost will be $43.15 million per vessel and they are expected to be delivered to Danaos on December 11, December 17, and December 21, 2006 respectively. The acquisition will be financed through existing credit facilities and own funds.
American V. Awarded Management Contract
American V. Ships, Mineola, N.Y., has been named the technical manager of three vessels to be chartered to the recently established Wallenius and Wilhemsen joint venture - Wallenius-Wilhemsen Line. American V. will continue to manage the 5,600-unit each Faust and Fidelio, which have been under the company's management since 1989. American V. signed a six-year contract with Automar International Car Carrier to be the technical manager of the U.S. flag vessels, Faust and Fidelio. The company will provide its full range of technical management services including operating, crewing, budget control, purchasing and quality assurance. The three vessels are chartered through September 2005 to American Roll-on Roll-off Carriers, a U.S. subsidiary of Wallenius-Wilhemsen Lines.
American V. Ships Awarded Ship Management Contract
American V. Ships, a full-service international marine transportation management and operations organization has been named the technical manager of three vessels to be chartered to the recently established Wallenius and Wilhelmsen joint venture, Wallenius-Wilhemsen Line. American V. Ships will continue managing 5,600-unit Faust and 5,600-unit Fidelio, which have been under its management and under U.S. flag since 1989, as well as another vessel, Tanabata, newly entered into U.S. registry. American V. Ships is providing its full range of technical management services to include operating, crewing, budget control, purchasing and quality assurance. The three vessels are chartered through September 2005 to American Roll-On Roll-Off Carriers (ARC), a U.S.
Dryships, Covenant Waiver & Load Deferral
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced on Feb. 3 that it has reached an in principle agreement with Piraeus Bank, to restructure its two loan facilities in the original aggregate principal amount of $220m with current outstanding $164.9m. As part of the restructuring, caused in large part by the failure of certain buyers to conclude the agreed purchase of three vessels, the basic terms will provide for: a waiver regarding financial and asset coverage covenants through January 1, 2011; an increased applicable margin; an amendment fee…
Elcome Supplies Electronics for Abu Dhabi New Builds
Elcome International is supplying electrical switchboards, safety, monitoring and control systems for three vessels under construction at Abu Dhabi Ship Building (ADSB). Elcome’s scope of work included supply, installation and commissioning of main switchboards and electrical systems, bridge and engine room consoles, tank gauging and fire detection systems. The three vessels are being built for a customer in the Middle East for delivery in 2017. “These orders from ADSB represent a significant achievement in our growth as a major supplier for newbuilds as well as retrofits…
BOURBON Continues to Sell Vessels
BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co. BOURBON has completed the transfer of ownership under the agreements with ICBC Financial Leasing (ICBCL) and Standard Chartered Bank (SCB) as part of the sale and bareboat charter agreements signed in 2013, the company announced today. During 2014, the ownership of 25 vessels was transferred to ICBCL in accordance with the agreement signed in April 2013. Combined with the 21 vessels transferred in 2013, this brings the total number of vessels transferred to ICBCL to 46 for a total value of more than $1.4 billion. BOURBON has also completed the transfer of vessels to SCB under the agreement signed in November 2013.
Danish Shipping Firm Sells Tankers
A/S Dampskibsselskabet Torm, a Danish shipping company, is selling three of its tankers for a total of $63m. The move is part of Torm's strategy of selling older bulk vessels so it can build its fleet of bigger Panamax bulk vessels. Torm did not disclose who is buying the three older vessels. Following delivery of the three vessels, TORM's owned fleet will consist of 30 product tankers and five dry bulk vessels. Besides its owned fleet, the company operates nearly 100 ships. (Source: Washington Times)
Golden Ocean Agrees Late Deliveries from Chinese Shipyard
Golden Ocean Group Limited agrees with Zhoushan Jinhaiwan Shipyard Co., on amendment of three shipbuilding contracts The agreement is related to the two Kamsarmax vessels Golden Excellence and Golden Explorer, and the Capesize vessel Golden Nantong. Due to delay in the construction progress the Company has agreed to accept late delivery of the vessels. The contract price for the three vessels in aggregate is now agreed to be USD 86.65 million. The vessels are expected to be delivered to the Company in the fourth quarter of 2012.
Aker Yards Gets Contract for Multi-Purpose Vessels
Aker Yards in Ukraine (Damen Shipyards Okean) has been awarded a contract for delivery of three multi-purpose vessels by the Ukrainian shipping company JSSC Ukrrichflot. The yard has previously built six vessels in the same series for the company, and an additional three vessels are currently under production. The vessels are expected to be delivered between April and November in 2009. The total value of the contract $33.6m.
Thor-Lube Bearing Receives Orders
Thordon Bearings Inc. of Canada recently received orders for environmentally friendly Thor-Lube sealed stern tube bearing systems for three LNG carrier newbuild projects in Korea and Japan. Daewoo Shipbuilding & Marine Engineering Co. Ltd ordered systems for two ships, one for Shell International Gas Limited and the second for the Australian LNG Ship Operating Co. (ALSOC). Mitsubishi Heavy Industries (MHI) of Japan ordered the third system for a second Shell newbuild. All three vessels are due to be delivered in 2004.