Ship Sales & Purchase
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2017-06-15 10:53:08

Greek shipowner DryShips has taken delivery of its tenth ship so far this year, a 81,300 deadweight tons newbuilding re-sale Kamsarmax drybulk carrier.

The newbuilding delivery pushed the company's Kamsarmax fleet to five ships, which also include four second-hand vessels delivered in the second quarter of 2017.

The company inked a deal in April to purchase three Kamsarmax drybulk carriers built in 2014 for USD 68 million. At the time of the announcement, DryShips said it would be using cash on hand to finance the purchase.

Another 2014-built 82,129 DWT Kamsarmax drybulk carrier was bought in April for approximately USD 24 million using cash on hand.

As informed, the latest fleet addition will be employed in the spot market.

Once all deliveries are completed, the company's fleet will be comprised of 46 vessels, including 22 bulkers, 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels, four very large gas carriers, three tankers, and one VLCC.

2017-06-14 10:22:04

China-based shipowner Xin Yuan Ocean has opted to order a small dirty tanker, with an option for another vessel of the same kind, from a compatriot shipbuilder Fujian Mawei Shipbuilding.

According to data provided by VesselsValue, the company placed the order for the new ship on June 7.

The vessel in question will feature 7,500 dwt and is expected to join its owner in 2018, while its sister ship, if ordered, would be delivered in 2019.

Although the financial details of the agreement were not disclosed, VesselsValue informed that the ships have a combined market value of around USD 22 million.

Xin Yuan Ocean currently operates one small dirty tanker, the 8,000 dwt Rostella. Built by China’s Quingshan Shipyard, the vessel, which has a market value of USD 17.8 million, was delivered to the company in April 2017.

2017-06-14 10:19:04

US-based crude oil shipping company Gener8 Maritime informed it has delivered Gener8 Orion, a Suezmax tanker, to its new owners in Singapore.

In May, Gener8 inked a sub-sale agreement to sell the 160,000 dwt ship to Elegant Ship Management for USD 13.3 million, VesselsValue's data shows.

The tanker, which was built by South Korean shipbuilder Samsung Heavy Industries (SHI) in 2002, currently has a market value of USD 14.6 million.

Earlier this year, the company entered into a series of transactions which were expected to increase cash on the balance sheet by more than USD 82 million. The transactions included the sale of two 2016-built VLCCs, Gener8 Noble and Gener8 Theseus.

In addition, Gener8 disposed of the 2002-built Aframax tanker Gener8 Daphne in March. The shipping company also agreed to sell the 2002-built Aframax Gener8 Elektra, however, this sale failed, according to information provided by VesselsValue.

Gener8’s fleet is currently comprised of more than 30 tankers.

2017-06-14 10:16:11

Athens-based dry bulk shipping company Star Bulk Carriers has entered into a definitive agreement to acquire a Supramax dry bulk carrier from an unnamed party.

The vessel has a carrying capacity of 56,582 dwt and was built at China's Jiangsu Hantong Shipyard in 2011.

Although Star Bulk did not disclose the name of the ship or the seller, the bulk carrier that fits the description could be Privaegean. Namely, Star Bulk has been linked to the purchase of this Supramax ship which was built at the abovementioned yard in 2011. Privaegean was bought from Greek Bariba Corp. for USD 10.75 million on June 12, according to data provided by VesselsValue.

As informed, the bulker is expected to be delivered to Star Bulk during July 2017.

Star Bulk said the acquisition will be partly financed through debt secured from a financial institution.

Currently, Star Bulk's fleet includes 70 operating vessels, one vessel acquired and due for delivery and three newbuilding vessels under construction at shipyards in China.

Additionally, the company has one chartered‐in Supramax vessel, under a time charter expiring in September 2017.

2017-06-13 10:23:23

The United Arab Emirates-based shipping company Tomini Shipping has ordered three Ultramax bulk carriers from China Shipping Industry (Jiangsu), according to data provided by VesselsValue.

Slated for delivery in 2019, the vessels will feature a deadweight of 64,000 tons.

Although the value of the order was not disclosed, market value of each of the three yet-to-be-built ships currently stands at around USD 20 million.

The bulkers will fly the flag of the Marshall-Islands.

World Maritime News contacted the shipping company as well as the shipbuilder for more details on the order, however, the parties are yet to reply.

Currently, Tomini's fleet comprises ten vessels on water, built between 1995 and 2017.

In addition to the newly ordered Ultramaxes, the company has three 64,000 dwt bulkers on order at the same shipyard. Ordered in 2013, the ships are expected to be delivered by the end of this year, VesselsValue’s data shows.

2017-06-13 10:20:28

Japanese shipbuilder Imabari launched its first of the 20,000 TEU-type containerships built for compatriot shipping company Mitsui O.S.K. Lines (MOL) at the Saijo shipyard on June 9.

The 20,150 TEU newbuilding, which features a length of 400 meters and a width of 58.5 meters, is one of two ultra large container vessels (ULCVs) ordered by MOL in early 2015.

The two vessels were ordered as part of a deal for the construction of six 20,000 containerships, with two of them assigned to Imabari and the remaining four to South Korea’s Samsung Heavy Industries (SHI). All of the vessels are slated for delivery in 2017 and will be deployed in the Asia-Europe service.

Earlier, MOL said that the two mega boxships ordered from Imabari had been chartered out to Japanese liner company Shoei Kisen Kaisha.

Both ships will fly the flag of Panama, according to data provided by VesselsValue.

The previous record for Imabari was the construction of 14,000 TEU ships.

According to Imabari, the recently launched ULCV has an array of energy-saving equipment including a special rudder to enhance propulsion performance.

In mid-March, SHI named MOL Triumph, the first of four 20,150 TEU newbuildings, which held the title of being the world's largest boxship.

2017-06-13 10:17:40

The National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Maharah, a 300,000 dwt very large crude carrier (VLCC), from South Korean shipbuilder Hyundai Heavy Industries (HHI).

The newbuilding was handed over to Bahri during a delivery ceremony held at HHI Mokpo shipyard in South Jeolla Province, South Korea, on June 12.

With a gross tonnage of 154,252 tons, Maharah features a length of 330 meters and a width of 60 meters.

Currently, the Saudi Arabia-flagged vessel has a market value of 79.2 million, VesselsValue's data shows.

As disclosed, Bahri Oil, one of Bahri's six business units, will be responsible for the commercial operation of Maharah.

This is the second VLCC delivery for the company so far this year. In February, the 300,000 dwt Amjad joined Bahri's multipurpose fleet of 84 vessels.

"The addition of Maharah further strengthens our position as the world's largest owner and operator of VLCCs… We celebrate this important milestone only months after accepting delivery of our 37th VLCC Amjad… In current times, fleet growth is critical to offsetting low spot market rates, and the timing of this delivery could not have been better," Ahmed Ali Al-Subaey, Bahri's Board Member, commented on the occasion.

"The partnership between Bahri and Hyundai Heavy Industries spanning over a decade has been highly successful, with 26 vessels ordered and delivered to date and 8 more VLCCs currently on order, among which 3 will be delivered this year," Ali Al-Harbi, Bahri's Acting CEO, said.

In April, Bahri revealed plans to re-flag 32 of its VLCCs and five of its mid-size carriers under the domestic flag by the end of 2017. As earlier explained, the registration of the company’s 37 VLCCs under Saudi Arabian flag is aimed at enhancing the Kingdom’s position in the International Maritime Organization's (IMO) global rank lists and at increasing the size and efficiency of the Saudi Arabia's fleet.

Last month, Bahri and HHI inked a memorandum of understanding (MOU) to cooperate in the field of big data. Under the MOU, the two companies will jointly develop smart ship solutions and apply them to ships operated by Bahri.

2017-06-12 10:34:02

US-based operator of dry bulk carriers Eagle Bulk Shipping informed it has taken delivery of M/V Fairfield Eagle, the fifth of nine Crown-63 Ultramax dry bulk sister vessels acquired from Greenship Bulk Trust.

"The delivery of the M/V Fairfield Eagle … highlights our ability to deliver on key strategic priorities, including fleet growth and renewal, as well as the continued development of our active owner-operator business model," Gary Vogel, Eagle Bulk’s CEO, commented.

Fairfield Eagle, previously named JS Missouri, was built by China’s Dayang Shipbuilding in 2013. Currently, the bulk carrier’s market value stands at USD 17.53 million, VesselsValue’s data shows.

The 62,500 dwt ship joins Eagle Bulk’s fleet of 45 vessels on the water, including seven Ultramaxes.

The remaining four Ultramax vessels from Greenship Bulk Trust are scheduled to be delivered over the coming months, according to Eagle Bulk.

Eagle Bulk acquired the nine ships, which are being renamed after Connecticut coastal towns, for a total of USD 153 million.

2017-06-12 10:31:21

Athens-based shipowner DryShips is keeping busy with fleet expansion as it has taken delivery of two second-hand ships this week.

Namely, a 82,129 deadweight tons Kamsarmax drybulk carrier built in 2014 has been delivered to the company earlier this week. The Kamsarmax was followed by the delivery of a 320,105 deadweight tons very large crude carrier (VLCC) built in 2011.

Further details on the ships’ specifications have not been revealed, apart from the fact that both ships will be employed in the spot market.

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

Once all deliveries are completed, the company’s fleet will be comprised of 46 vessels, including 22 bulkers, 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels, four very large gas carriers, three tankers, and one VLCC.

2017-06-12 10:30:12

Norwegian transportation company Fjord1 has placed an order for construction of five new ferries at Havyard Ship Technology's shipyard in Leirvik i Sogn.

The ferries, featuring design from Havyard Design & Solutions,  shall be delivered in 2018 and 2019, and the total contract value is in excess of NOK 1 billion (USD 117 million).

"With these ferries we put to use the opportunities that are within digitalisation and provide both Fjord1 and ourselves with a solid foothold on the future and on the fourth industrial revolution," Geir Johan Bakke, CEO  of Havyard Group, said.

"And we are now able to deliver a ferry that can operate on battery power during the complete ferry crossing."

Three of these ferries will operate in the Hareid – Sulesund connection and two in the Magerholm – Sykkylven connection, both crossings in the county of Møre and Romsdal in western Norway. The ferries will be 111 metres long, with a hold capacity of 120 cars each.

"Environmental requirements on these all-electric ferries led us to be extremely thorough in terms of saving energy. As such, we have used the tools we have developed over time and already used within other segments. By utilising these tools, we are able to carry out detailed and reliable calculations with several variations, and now we are being rewarded for having experience in the involvement of design processes connected to strict environmental requirements,” Head of R&D work in Havyard, Kristian Voksøy Steinsvik, commented.

Havyard Ship Technology already has three ferries under construction at the Leirvik shipyard in Sogn, Norway.

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