Ship Sales & Purchase
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2017-06-01 10:37:08

Chemicals shipping company Navig8 Chemical Tankers has entered into sale and leaseback agreements with CMB Financial Leasing for two of the company’s 25,000 DWT stainless steel chemical tankers.

The ships in question are 2017-built Navig8 Saiph and Navig8 Sceptrum, and the expected net proceeds from the transaction are set at USD 66.84 million.

"A portion of the proceeds will be utilized to repay existing loans used to finance the vessels' newbuilding contracts under the bank loan facility announced by the company on November 3, 2016," the company said.

Navig8 Chemical Tankers has entered into 7-year bareboat charters with CMB for the vessels that will be sold and delivered to CMB.

The company has purchase options to re-acquire the vessels during the charter period, with the first such option exercisable on the third anniversary of the date of delivery of each vessel to CMB, and obligations to repurchase the vessels at the end of the bareboat period.

Navig8 has 31 chemical carriers delivered to its fleet and anticipates delivery of one more ship by mid-2017.

2017-06-01 10:33:42

European short sea shipping specialist Compagnie Luxembourgeoise d’Navigation (CLdN) RoRo SA has exercised options for construction of two more 5, 400 lane meter vessels at the Korean shipyard Hyundai Heavy Industries (HHI).

The latest options will make up the seventh and eighth ship from the company's 12 planned newbuildings, with additional options for a further four.

According to CLdN, the order complements the previously announced firm orders for six vessels, of which the initial two 8,000 lane meter vessels will be delivered within 2017. The first one, to be named Celine, is due to arrive in Northern Europe during September.

The previously announced strategy to prepare for expansion in the Port of Zeebrugge, with the development of a new 36 hectare Port facility at Albert II Dock, will be delivered prior to the new vessels entering service, CLdN added.

In line with the previous orders, these vessels will be LNG ready, allowing for adaption to dual fuel propulsion.

The lifting of options comes three months after CLdN raised its orderbook to six ships from the series.

CLdN RoRo SA operates 24 RoRo vessels and its core services have traditionally been the Continent / UK, but it has steadily expanded its geographical presence into new markets, including Ireland, Sweden, Denmark, Spain and Portugal in recent years.

"We are half way through our 5 year plan and already have 8 of the 12 vessels planned as firm orders, keeping us well ahead of target," a spokesperson for CLdN commented.

2017-06-01 10:29:47

Greece-based shipowner Kyklades Maritime has reached an agreement to sell its Aframax tanker Nissos Santorini to Singapore's Eastern Pacific Shipping.

Under the deal, signed on May 30, the 115,700 dwt tanker is being sold for a price of USD 30.3 million, slightly over its market value of USD 29.7 million, according to data provided by VesselsValue.

Featuring a capacity of 123,646 m3, Nissos Santorini was built in 2012 by South Korean shipbuilder Samsung Heavy Industries.

Following the completion of this transaction, Kyklades Maritime will operate a fleet of nine vessels, including four LR2 ships, three Aframaxes and two Suezmaxes.

The owner has two Suezmax tankers currently on order at Japan Marine United. With 157,100 dwt, the ships, which have a market value of over USD 55.2 million a piece, are scheduled to be handed over in April and July 2018, respectively.

2017-06-01 10:26:58

Norwegian shipbuilder and ship designer Ulstein Verft has signed a letter of intent (LOI) with an undisclosed company for the construction of one or more expedition cruise vessels of the design type ULSTEIN CX104.

Planned for delivery in 2019 and 2020, the vessels will be designed by Ulstein Design & Solutions to incorporate the X-BOW design and will be around 120 meters long and 20 meters wide.

As disclosed, the new ships will have "excellent" exploration facilities and polar capability. With environmentally friendly and sustainable solutions to be implemented, the vessels are expected to surpass the newest regulatory demands for taking passengers into Arctic and Antarctic waters.

According to the company, the signing of the LOI represents a "significant step" to bring these future expedition vessels to the market.

"The past few years we have worked strategically to target the exploration cruise market. This LOI proves that we are now confirming our position in this market. We are pleased to have been chosen as partner in this exciting project and we now look forward to turning this project into reality," Gunvor Ulstein, CEO of Ulstein Group, commented.

2017-05-31 13:11:48

Greek dry bulker owner Diana Shipping has taken delivery of the m/v Electra, a 2013 built Post-Panamax dry bulk vessel that the company bought in April 2017.

Formerly known as Grain May, the 87,150 dwt bulker, built by Chinese Hudong Zhonghua, is valued at USD 18.7 million, according to VesselsValue's estimates.

The ship was bought in an en bloc transaction from US-based Foremost Maritime Corporation.

The first ship from the batch already joined the company's fleet earlier in May. Renamed to m/v Phaidra, the 2013-built Post-Panamax vessel was previously known as Soya May.

Also in April, Diana Shipping bought a Kamsarmax bulker from Thenamaris.

The latest Greek-flagged bulker addition brings Diana Shipping's fleet to 51 dry bulk vessels, comprising 4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 23 Panamax ships. Hence, the combined carrying capacity of the shipowner's fleet is approximately 5.9 million dwt with a weighted average age of 7.83 years.

2017-05-31 13:09:51

South Korean shipbuilder Hyundai Mipo Dockyard has received an order to contruct two Ro-Ro vessels from an undisclosed European shipowner.

The new vessels, which were ordered under a KRW 133.9 billion (USD 119 million) worth contract, are scheduled for delivery by the end of 2019, the company informed through a stock exchange release.

In February 2017, the Luxembourg-based Compagnie Luxembourgeoise d'Navigation (CLdN) RoRo SA ordered an additional two 5,400 lane meter vessels from Hyundai Mipo, with options for a further four of the same class.

The shipbuilder's parent Hyundai Heavy Industries (HHI) in late April informed that it won 18 ship orders worth USD 900 million during the month, pushing its order intake to USD 2.3 billion secured from the start of the year.

The month marked the largest ship orders for the comparable period in three years, the shipbuilder said, adding that from the beginning of 2017 it secured a total of 39 new ship orders.

During the period ended March 31, 2017, the value of HHI's newbuilding orders surged by 22.9 percent compared to the corresponding figures from a year earlier, reaching USD 2.04 billion.

2017-05-31 13:07:10

Ireland's maritime transportation group Irish Continental Group (ICG) revealed it has sold the passenger ferry Kaitaki to New Zealand-based ferry operator Kiwi Rail.

The 22,365 gross ton ship, sold for EUR 45 million (USD 50.1 million), has been delivered to its new owner, according to ICG.

Previously known as Isle of Innisfree, Pride of Cherbourg and Stena Challenger, the 180-meter-long vessel is able to accommodate 1,650 passengers, 600 cars and 108 trucks.

Earlier this month, ICG entered into a memorandum of agreement (MOA) for the sale of the ferry.

"The Kaitaki which was commissioned by and delivered to ICG in 1995 became surplus to ICG's operational requirements following delivery of our cruise ferry Ulysses in 2001. Kaitaki has been on charter outside the group since 2002, most recently to the buyers KiwiRail who operate the vessel in New Zealand," ICG said on May 17.

As disclosed, the proceeds from the sale will be used for ICG's general corporate purposes.

2017-05-27 10:08:53

Oslo-listed owner and operator of liquefied natural gas (LNG) carriers Flex LNG has signed agreements to buy six LNG ships, Reuters reports citing the company's chief executive Jonathan Cook.

The 170,000-cubic metre ships will be built by South Korean Samsung Heavy Industries (SHI) and Daewoo Shipbuilding and Marine Engineering (DSME), with the first two ships from the batch scheduled to join the company's fleet in 2018. The remaining quartet is expected to follow suit in 2019.

According to Cook, all of the contracts have been signed and the initial payments have been processed during the course of this month.

World Maritime News is yet to receive a confirmation from the company on the matter.

In February 2017, Flex LNG entered into a deal to buy two highend MEGI LNGC newbuilds at DSME with scheduled delivery in Q1 2018. The two newbuilds were bought from affiliates of Geveran Trading, the company's largest shareholder.

Based on the company's information, Flex LNG operates a fleet of six MEGI LNG carriers with a capacity of approximately 174,000m3 under construction at SHI and DSME, slated for delivery in 2018 and 2019. FLEX LNG is marketing these vessels for charter and is pursuing floating storage and regasification (FSRU) projects.

2017-05-27 10:06:45

Hong Kong-based containership manager and owner Seaspan Corporation has taken delivery of YM Wind, a 14,00teu newbuilding, from Taiwanese CSBC Corporation.

As informed, the ship will commence a fixed rate charter with Taiwan-based Yang Ming Marine Transport Corporation for a ten-year term with an option to extend the charter for an additional two years.

YM Wind is the ninth 14,000teu SAVER design containership to join Seaspan and expands the company's operating fleet to 89 vessels.

With a gross tonnage of 153,500 tons, YM Wind has a length of 368 meters and a width of 51 meters.

Seaspan said it has entered into a sale-leaseback transaction for the YM Wind which provides gross proceeds of approximately USD 144 million. The proceeds will be used to pay for the final YM Wind delivery installment of approximately USD 75 million, with the remainder to be used for general corporate purposes including debt repayment.

The lease has a term of 12 years, and Seaspan has an option to purchase the vessel at a pre-determined fair value after 9.5 years.

The eight 14,000teu SAVER vessel from the batch was delivered to the company in late May 2016.

Seaspan's managed fleet consists of 114 containerships representing a total capacity of over 915,000 TEU, including 10 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2018.

2017-05-27 10:04:35

Navig8 Chemical Tankers has taken delivery of the Navig8 Spica, a 25,000dwt stainless steel chemical tanker, from Fukuoka Shipbuilding in Japan.

The Navig8 Spica is the first of two vessels contracted at Fukuoka to be delivered to the company and is the first of two vessels to be delivered under the sale and leaseback arrangements entered into with subsidiaries of SBI Holdings, Inc (SBI) earlier this month.

Following delivery from Fukuoka, the Navig8 Spica was delivered to SBI under the terms of the sale MOA and then delivered back to the company under bareboat charter.

Navig8 Chemical Tankers secured ten-and-a-half year bareboat charters for Navig8 Spica and her sister vessel, commencing at the time of their deliveries.

The Navig8 Spica will be entered into and operated in Navig8 Group's Stainless8 commercial pool.

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