Ship Sales & Purchase
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2017-09-11 10:32:24

Italian shipbuilder Fincantieri held the steel cutting of the new ship for Princess Cruises, brand of Carnival Corporation, at its shipyard in Monfalcone on September 8.

The new cruise ship will be the fourth edition of the class for Princess Cruises, following Royal, Regal and Majestic, delivered in 2013, 2014 and 2017, respectively, by the same yard.

Works for the construction of a bow section for the latest vessel started last November at Fincantieri's shipyard in Castellammare di Stabia, Naples. The section will be then transported by sea and assembled to the rest of the unit in Monfalcone, where delivery will take place by the end of 2019.

Princess Cruises' new cruise ship will feature a gross tonnage of 145,000 tons and will be able to accommodate 4,250 passengers on board.

Fincantieri said that the vessel will represent a new technological benchmark in Europe and worldwide for its innovative layout, the outstanding performances and the top quality of its state-of-the-art technology.


2017-09-08 11:17:28

National Shipping Company of Saudi Arabia (Bahri) has taken delivery of the very large crude carrier (VLCC) Rimthan, built by Hyundai Samho Heavy Industries (HSHI) in South Korea.

The 300,000 dwt carrier joins the company's 40-strong VLCC fleet. Built to the latest environmental and fuel-efficient technical specifications, the ship was handed over to Bahri during a delivery ceremony held at HSHI's Mokpo shipyard in South Jeolla Province, South Korea.

Rimthan is the fourth VLCC to join the Bahri fleet this year, following the delivery of Amjad, Maharah, and Aslaf.

"Rimthan is the fourth VLCC that Bahri has received from HHI Group this year with another six vessels on order and to be delivered over the next year and a half," Saleh Al-Debasi, Board Member, Bahri, said.

"The addition of Rimthan is yet another step toward strengthening our leadership in the global oil transportation industry," Ali Al-Harbi, Acting CEO, Bahri, said.

Bahri Oil will be responsible for the commercial operation of Rimthan. Bahri is set to further expand its oil tanker fleet with the addition of Shaden, its 41st VLCC, towards the end of October 2017.

2017-09-08 11:11:09

The second newbuilding very large gas carrier (VLGC) has joined DryShips’ fleet, the Greek shipowner said.

The VLGC will be employed under a time charter on a fixed rate with five years firm duration to an unnamed oil major.

The charterer has options to extend the firm employment period by up to three years. DryShips expects a total gross backlog from the time charter to reach USD 92.7 million including the optional periods.

In June this year, the company took delivery of its first ultra large gas carrier, the 78,700 cbm Anderida, built by Hyundai Samho Heavy Industries.

The Maltese-flagged LPG carrier was chartered out to an oil major for a firm employment of up to three years with the expected gross backlog from the charter totaling in USD 92.7 million.

Since the beginning of this year, DryShips has taken delivery of 15 vessels and expects to take delivery of two more by the end of the year.

Since November 2016, the company has raised approximately USD 688 million of equity that has been used to acquire 17 vessels with an average age of two years for a total cost of USD 772.4 million, of which USD 606.2 million has been advanced so far.

At the end of August, the Greek shipowner was subpoenaed by the Securities and Exchange Commission (SEC) which requested documents and information regarding the company's share offerings made between June 2016 and July 2017.

"The company is providing the requested information to the SEC," DryShips said, announcing the results for the second quarter of 2017.

2017-09-07 10:57:52

ISA Towage B.V. (formerly known as V.O.F. Sleepboot ISA) has taken delivery of a Shoalbuster 3209 from Damen Shipyard Hardinxveld (DSHa). The vessel was already in stock at the yard and was handed over to the client within four weeks of the order being agreed. Damen's extensive range of Shoalbuster vessels offers some of the most versatile workboats available in the marketplace today, capable of taking on a wide variety of roles.

The purchase of the 3209 by ISA Towage B.V. marks the return of the Dutch towage and marine assistance company to DSHa following it taking delivery of a smaller version in December 2016, its first purchase from the Damen Group. The Shoalbuster, named ISA, is now working on a contract in Germany.

32 metres long and with a beam of over 9 metres, ISA is ready to operations such as towing, mooring, pushing, anchor handling and dredging support. These are supported by an equipment package specified by the client that includes twin Caterpillar engines delivering 3500 bhp for 52 tonnes of bollard pull and a top speed of 11 knots, an HS Marine deck crane giving 8 tonnes of lift at 16-metres, and a 50-tonne towing and a 12-tonne tugger winch. The fully air-conditioned interior has comfortable accommodation for up to seven crew.

"We're delighted that ISA Towage B.V. has returned to us so soon," says Jos van Woerkum, Managing Director of Damen Shipyards Hardinxveld. "Willem-Harm Mastenbroek, owner and managing director of ISA Towage B.V., was able to take advantage of a great deal and immediate availability to provide an enhanced capability to his clients, and it is very gratifying to welcome back him and ISA Towage B.V. back to the Damen family."

"When in July, Jos van Woerkum at DSHa offered us the opportunity to upgrade to a Shoalbuster 3209 that had just been just completed and completely outfitted at the shipyard, it was just too good to miss,” says Willem-Harm Mastenbroek. "Our current client at the time had recently informed us that our existing vessel did not have sufficient bollard pull for their next contract and that 50 tonnes of bollard pull would be needed. So the decision to make the step up to a bigger vessel with more capabilities was easily made. The new 3209 has now replaced its predecessor in the Baltic Sea, and we look forward to the new and better opportunities and different types of contracts that our new ISA will open up for us."

Based in Wijk bij Duurstede in the Netherlands, ISA Towage B.V. undertakes projects across Europe and into Asia.

2017-09-07 10:53:59

Dutch shipbuilder Royal IHC has signed a letter of intent (LOI) with Subsea 7 S.A. for the construction of a new reel-lay vessel and associated pipe lay equipment.

The construction cost is expected to be below USD 300 million, Subsea 7 said, adding that the ship is scheduled for an early 2020 delivery.

The firm contract with Royal IHC is expected to be awarded before the end of 2017, subject to final board approval.

"When delivered, the vessel will be Subsea 7's highest specification reel-lay vessel, capable of installing complex rigid flowlines including pipe-in-pipe systems and electrical trace heating. This capability will address the market trend towards longer tie-back developments," the company said announcing the contract.

Once delivered, the new vessel will replace Seven Navica, which is expected to be retired from reel-lay operations in due course.

"We are committed to having the right fleet size and specification to meet the needs of our clients. We achieve this through a combination of owned high-specification vessels and leased vessels having a strict regard to capital discipline. We have removed three owned vessels from our fleet during the last two years and will continue to actively manage our fleet composition.

"The expected gradual recovery of market activity and application of new cost-effective technology supports this investment decision, which will enable Subsea 7 to participate in new prospects that are already visible in the market," Subsea 7  CEO, Jean Cahuzac, said.


2017-09-07 10:50:38

Miami-based cruise company Carnival Corporation has held a keel-laying ceremony of the first ship of its new liquefied natural gas (LNG) generation, AIDAnova, which will be delivered by Meyer Werft Papenburg in fall 2018.

The 180,000 gross ton AIDAnova, which will be the 13th member in AIDA’s fleet, will be traveling Madeira and the Canary Islands for seven-day cruises from December 2018 in its first season. German cruise line AIDA Cruises ordered the ship in summer 2015, as part of a deal for two next-generation cruise ships.

With the ceremony, held at Seatrade Europe in Hamburg, the company officially launched the construction of its seven next-generation cruise ships that will be fully-powered by LNG.

"Today marked a significant milestone in the construction of this next-generation of Carnival Corporation ships featuring our 'green cruising' design, which will be the most environmentally friendly ships in our company's history," Arnold Donald, president and CEO of Carnival Corporation, said.

Pioneering a new era in the use of low-carbon fuels, these new ships will be the first in the cruise industry that can use LNG to generate 100 percent of their power both in port and on the open sea. The ships, with delivery dates between 2018 and 2022, will be built by leading German and Finnish shipbuilders Meyer Werft and Meyer Turku.

Following the introduction of AIDAnova in 2018, Carnival Corporation's Costa Cruises brand will debut the industry's next cruise ship that can be powered completely by LNG on the open seas in 2019 – the first steel-cutting ceremony for this ship is scheduled at the Meyer Turku shipyard in the coming week.

LNG-powered ships for Carnival Cruise Line and P&O Cruises (UK) will follow in 2020. Costa Cruises and AIDA Cruises will each receive an additional LNG-powered ship in 2021, followed by an additional LNG-powered ship for Carnival Cruise Line in 2022.


2017-09-06 10:38:56

Australian shipbuilder Austal has received its first commercial vessel contract, valued at AUD 44 million (USD 35 million), in Taiwan.

The contract is for two 550 passenger, 50-meter high speed catamarans, designed and built by Austal for Taiwan's Brave Line. The contract includes an option for a third vessel of the same design.

The Brave Line catamarans will be designed by Austal in Australia and built at its shipyard in the Philippines.

"This contract builds on the continuing evolution of our fast ferry portfolio and reaffirms Austal's position as international market leader for the quality of the vessels we design and build," Ben Marland, Austal Vice President of Sales and Marketing, said.

"Austal has previously indicated continuing strength in the worldwide ferry industry and this adds to our recent record run of sales achieved over the last 18 months," David Singleton, Austal Chief Executive Officer, said.

Austal has recently announced its intention to expand capacity in its Philippines shipyard through a USD 30 million investment in new infrastructure. The expansion is intended to cater for an increase in new orders already achieved with further orders expected in the next 12 months.

2017-09-06 10:36:27

Eagle Bulk Shipping, a Connecticut-based owner and operator of Supramax and Ultramax bulkers, has taken delivery of the M/V Westport Eagle, the ninth and final Crown-63 Ultramax dry bulk vessel the company acquired from Greenship Bulk Trust.

"The successful conclusion of the nine-vessel fleet acquisition from Greenship Bulk provides clear and unambiguous benefits for Eagle, chief among them a significantly expanded commercial footprint and a more modern and efficient fleet. These positive developments, in conjunction with the successful buildout of our active management model, should help ensure we generate both higher time charter equivalent (TCE) earnings and incremental shareholder value," Gary Vogel, Eagle Bulk's CEO, commented.

With the addition of the M/V Westport Eagle, the Eagle Bulk fleet currently consists of 48 vessels on the water, comprised exclusively of Supramax/Ultramax vessels.

Eagle Bulk bought the nine ships, which range in age from 2 to 5 years, in March this year in a deal worth USD 153 million.

For the six months ended June 30, 2017, the company reported a net loss of USD 17 million, considerably reduced from last year's equivalent of USD 61.8 million loss.

2017-09-06 10:34:20

Japanese marine transportation company Nissen Kaiun has placed an order for ten 82,000 DWT bulk carriers at compatriot shipyards, shipbroking firms indicate.

Under the deal valued at USD 270 million, Tsuneishi Zosen Shipbuilding has been hired for the construction of five vessels, while Imabari Shipbuilding has been entrusted with building the remaining five ships.

The Panamax newbuildings are slated for completion and delivery by 2020.

The latest order has pushed the company's newbuilding count to 29 ships, which includes six Aframax tankers also being constructed by Tsuneishi Zosen, eight MR2 tankers being built by Japan Marine United, two VLCCs at Mitsui Ichihara, one VLGC LPG and one Panamax bulker at Mitsubishi Heavy Industries and Tsuneishi Cebu respectively and a Handy bulk carrier being built by Shikoku Dockyard.

Majority of the ships are slated for delivery in 2018, with the rest being delivered throughout 2019 and 2020.

2017-09-05 10:21:25

Dutch coastal shipping company Thun Tankers has declared the option for a fifth tanker to be added to the previously contracted four product/chemical tankers.

The additional order comes only months after the company decided to expand its fleet with four new 17,500 dwt IMO II tankers.

The five vessels, which will be delivered between 2019 and 2020, are set to enter the Gothia Tanker Alliance network. They will be built at China's Avic Dingheng Shipbuilding.

Thun Tankers said that the contracted vessels "will be built to the absolute latest design with focus on energy efficiency, sustainability, new regulations, and customers’ needs as key in the design and building process."

The tankers will be commercially managed by Furetank, responsible for the intermediate segment within the Alliance.

In addition to the five contracted intermediate vessels, Thun Tankers together with the Gothia Tanker Alliance partners Furetank Rederi AB and Rederi AB Älvtank have previously ordered another six 16,300 dwt tankers with LNG propulsion. These units, currently under construction, are being built at the same yard and will be delivered between 2018 and 2020.

With latest contracted newbuilding, the Erik Thun Group currently has a total of twelve newbuildings on order.

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