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2017-04-21 11:37:57

Monaco-based dry bulk shipping company Scorpio Bulkers has received all of its newbuilds from the company's 48-ship newbuilding program.

The company said that the final ship from the batch, SBI Jive, joined its fleet earlier in April. Featuring 81,300 dwt, the Kamsarmax was delivered from Hudong-Zhonghua shipyard on April 5, according to VesselsValue data.

Five other newbuildings were delivered during the first three months of the year, including the Ultramaxes SBI Samson and SBI Phoenix, constructed by China's Chengxi Shipyard, and the Kamsarmaxes SBI Parapara, SBI Swing, and SBI Mazurka, which were built by Hudong-Zhonghua (Group).

In addition, the company said that, as of March 31, 2017, all contracted amounts "have been paid in full and we have no further obligations due to any shipyard."

The deliveries were unveiled as part of Scorpio Bulkers' financial report for the first quarter of 2017, in which the company said that it managed to narrow its GAAP net loss.

Namely, for the quarter ended March 31 the shipping firm's net loss stood at US$34.6m, compared to a net loss of US$58.3m seen in the same period of 2016.

Time charter equivalent (TCE) revenue earned during the quarter for the Kamsarmax fleet was at US$9,164 per day, while the company's Ultramax fleet earned US$8,230 per day.

TCE revenue reached US$34.6m for the first quarter of 2017 and is associated with a day weighted average of 47 vessels owned and one vessel time chartered-in compared to US$10.2m reported during the prior year quarter.

Scorpio Bulkers said that the TCE rates continued the sequential quarter on quarter growth experienced since recovering from the all-time lows seen in the first quarter of 2016.

"The increase in rates is attributable to increased worldwide demand across all bulk sectors, regions and commodities, as well as a diminishing supply side as fewer vessels are now on order," according to the company.

Overall TCE revenue increased significantly versus the prior year period due to the increase in rates combined with the increase in revenue days associated with the growth of Scorpio Bulker's fleet.

2017-04-21 11:34:39

The 20,200dwt BigRoll Barentsz is one of the four Module Class carriers ordered by Dutch BigRoll Shipping from China-based Cosco Dalian Shipyard. The naming ceremony of the vessel was held at Breakbulk & Offshore Wind (BOW) Terminal in Nieuwdorp, the Netherlands, on April 19.

Delivered in April 2016, the ship features a length of 173 meters and a width of 42 meters.

In June 2016, the second MC Class vessel, BigRoll Bering, was handed over to the company.

Following this, the third ship, BigRoll Baffin, joined the company's fleet in November 2016.

Finally, the last of four newbuildings, BigRoll Beaufort, was delivered to BigRoll Shipping in March this year.

All of the vessels started serving the Yamgaz consortium of Technip, JGC Corporation and Chiyoda, transporting modules as part of the Yamal LNG project.

2017-04-20 13:15:10

South Korean shipbuilding company Samsung Heavy Industries (SHI) has won an order for an LNG carrier duo, according to a report from the country's news agency Yonhap.

As informed, the order has been placed by the yard's compatriot shipping company Korea Line Corp. for two 7,500 cubic meters LNG carriers.

Under the terms of the deal, the value of which is yet to be disclosed, the ships are slated for delivery by the end of 2019 and are intended to transport liquefied natural gas between local ports.

The order comes amid stabilization in the shipbuilding industry that has helped SHI cut its operating loss by around 90 percent in 2016. The shipbuilder also reduced its net loss by KRW1bn, which represents an improvement of 88.5 percent.

At the end of 2016 the conglomerate's net loss stood at KRW138.8m, against a net loss of KRW1.2bn booked in 2015.

Due to anticipated recovery of the shipbuilding industry during 2017, the shipbuilder decided to raise its orderbook goal to USD 6 billion, from last year's US$5.3bn target, after winning a major order to build a large offshore platform at the beginning of the year worth US$1.3bn. The turnaround is in particular expected in the LNG carrier sector and FSRUs, according to SHI, with up to 30 LNGC orders forecast to be placed on annual basis from 2017.

The shipbuilder had a good start of 2017 reporting a total new order amount of US$1.5bn. SHI's order backlogs as of March 31, 2017 on delivery basis totals in US$26.5bn, the company's data show. These are dominated by tankers, 34 of them, followed by 15 LNG carriers and 10 drilling rigs, among other units.

2017-04-20 13:11:54

South Korean shipbuilder Hyundai Heavy Industries (HHI) reported US$2.04bn-worth of newbuilding orders in the first quarter of 2017, up by 22.9 percent when compared to the corresponding figures from last year.

The shipbuilding segment booked US$763m worth of orders, surging by 226.07 percent against last year's 234 million, HHI said in a report.

However, the company's offshore and engineering arm saw a 65 percent drop in ordering activity with USD 51 million worth of orders. HHI's industrial plant and engine and machinery sectors were also hit by a decrease in ordering activity by 50 and 17 percent respectively.

Boosting the company's order intake were, inter alia, Greek shipowner Enesel that ordered two 300,000-ton very large crude carriers (VLCC) and DHT Holdings that also ordered a VLCC pair earlier this year in addition to CLdN's RoRo duo.

The results are in line with the shipbuilder's recovery recorded in full-year results for 2016 as HHI's net profit came at US$596.6m, returning from a loss of US$1.18bn seen in 2015.

The turnaround came after a variety of revamping measures HHI implemented to sharpen its competitiveness including management improvement plan and reorganizing affiliated companies. Namely, in February this year, HHI got an approval from shareholders to reorganize its businesses into separate companies so as to bolster its financial status.

Separately, earlier this month, HHI Group revealed plans to invest US$1.8bn in research and development (R&D) programs by 2021 through its newly established independent shipbuilding company – Hyundai Heavy Industries.

Under the plan, the new HHI intends to invest in developing eco-friendly and smart ships, enhancing offshore engineering capability, and establishing smart shipyards.

2017-04-20 13:07:16

Greece-based ship owner DryShips has entered into agreements with unaffiliated third parties to purchase three Kamsarmax drybulk carriers built in 2014.

Under the deals, the 81,918dwt Kamsarmax and the other two ships, featuring 81,129 dwt each, are expected to join their new owner during the second quarter of 2017.

DryShips, which has now physically inspected and accepted the two 81,129dwt second-hand drybulk vessels, said that it plans to finance the total gross purchase price of some US$68m using cash on hand, which currently stands at US$429m.

"We are very pleased to have further grown the size of our drybulk fleet to 21 drybulk carriers through the acquisition of three modern vessels, which will also rejuvenate the average age of our fleet. The above acquisition allows us to immediately deploy our available liquidity and is expected to be accretive to our earnings and cash flows," said George Economou, Chairman and Chief Executive Officer.

2017-04-19 17:28:31

Norwegian OSV operator Solstad Offshore has signed a frame agreement with Saipem (Portugal) Comercio Maritime for the charter of construction support vessel Normand Cutter.

Under the agreement, Saipem will utilize the Normand Cutter to support its subsea construction activities worldwide at pre-agreed commercial terms. The agreement is valid for 4 years. The contract value was not disclosed.

As part of the agreement,Saipem has declared a utilization of approximately 6 months from June 2017 for the vessel on a project in West Africa.


2017-04-19 13:04:29

NYSE-listed dry bulk owner and operator Scorpio Bulkers has entered into agreements to sell its two 2014-built Kamsarmax vessels SBI Cakewalk and SBI Charleston.

Under the deal reached with unaffiliated third parties, the ships will be sold for some USD 45 million in total.

Featuring 81,600 dwt, the ships, which were built by Chinese Jiangnan Shanghai Changxing Heavy Industries, were added to Scorpio Bulkers’ fleet in August and September 2014, respectively.

According to data provided by VesselsValue, SBI Cakewalk has a market value of USD 22.1 million, while SBI Charleston’s market value stands at USD 22.3 million.

Following the completion of the sales, Scorpio Bulkers will own a fleet of 46 vessels, consisting of 18 Kamsarmax and 28 Ultramax ships, with a total carrying capacity of 3.2 million deadweight tonnes.

2017-04-19 11:34:35

Murmansk Shipping Company (MSC), the Russian Arctic specialist, is making its first fleet additions in a decade. It has revealed it has recently bought a 2010-built Chinese general cargo ship, which has just been renamed Vsevolod Beletsky and has outlined plans to order three new 30,000dwt bulkers before the end of this year as part of a fleet rejuvenation process.

2017-04-18 16:29:21

Italian shipbuilder Fincantieri has signed a memorandum of agreement for the construction of two additional cruise ships, with an option for another two, with Viking Ocean Cruises.

The 47,800 gross ton newbuilds, which will be sister ships to the six already ordered vessels, are expected to enter the Viking fleet in 2021 and 2022, respectively.

Fincantieri said that the final contracts will become effective upon the fulfilment of financing and other customary closing conditions.

The new ships, which will follow the same design as the current ships ordered and in operation, will be able to accommodate 930 guests in 465 cabins.

The first ship built for Viking Ocean Cruises, Viking Star was delivered at the shipyard in Marghera in spring 2015. The second and the third ships, Viking Sea and Viking Sky, took the sea from the yard in Ancona, respectively, in early 2016 and early 2017.

Viking will take delivery of the fourth ship, Viking Sun, in late 2017 and the fifth ship, Viking Spirit, in 2018. A sixth, yet-to-be-named ship will be delivered in 2019, marking Viking as the largest small ship ocean cruise line.

"The series – which began with the "Viking Star" prototype – reaches eight ships with these additional units, with the possibility to further grow thanks to the expansion plans of this dynamic cruise company,” Giuseppe Bono, CEO of Fincantieri, said.

"These additional ships are needed to meet the demand we are experiencing. Once only known for being the leading river cruise line, we are now equally known for upscale, inclusive ocean cruise experiences," said Torstein Hagen, Chairman of Viking Cruises.

2017-04-18 13:11:32

Malaysia Marine and Heavy Engineering (MMHE) has won a RM1bn (US$227m) Contract from Petronas for the construction of an offshore platform.

The contract involves the engineering, procurement, construction, installation and commissioning (EPCIC) of an offshore central processing platform for the energy giant's Bokor Phase 3 re-development project.

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