Ship Sales & Purchase
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2017-05-23 10:12:24

Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of another second-hand bulker bought in March 2017 within a 16-vessel contract.

The ship in question is Q Gayle, a Capesize ore carrier which will be renamed Golden Gayle.

Built at Japanese Universal shipyard in 2011, the 206,600 dwt vessel has a market value of USD 38.21 million, VesselsValue's data shows.

Of the 16 vessels acquired, 14 bulkers including Q Gayle were bought from subsidiaries of Quintana Shipping, while two ice class Panamax vessels were purchased from subsidiaries of Seatankers, an affiliate of Hemen Holding, the company's largest shareholder.

GOGL said it has issued 1.8 million consideration shares to Quintana Shipping and associated companies in exchange for the vessel.

Following this transaction, the company's issued share capital is USD 6,206,149.60 divided into 124,122,992 issued shares, each with a nominal value of USD 0.05.

Q Gayle is the eight ship from the batch handed over to GOGL so far, following the last week's delivery of Q Ioanari, the seventh vessel.

2017-05-23 10:09:55

Greek ship owner Primerose Shipping has ordered two bulk carriers in China, according to shipbroking sources.

The two 81,000 dwt vessels are to be built by China's state-owned CSSC Chengxi Shipyard.

The shipbuilding contracts for two bulkers have been valued at USD 24.8 million each, and the vessels are said to be scheduled for delivery in 2019.

Primerose currently owns a fleet of eight bulk carriers, and has further four 82,000 dwt vessels on order at Yangzijiang Shipbuilding.

Earlier this month, Chengxi Shipyard secured an order for four 82,000 dwt bulk carriers from Korea Shipping Corporation, a subsidiary of Korea Line Corporation.

2017-05-22 11:43:26

Chemicals transportation company Navig8 Chemical Tankers has entered into a second sale and leaseback deal with subsidiaries of Japan-based SBI Holdings Inc (SBI) for two 25,000 dwt stainless steel chemical tankers being built by Japanese Fukuoka Shipbuilding.

BNP Paribas and Crédit Agricole Corporate and Investment Bank are providing debt financing to SBI in connection with the transaction, the company said.

Under the agreements, the vessels will be purchased by SBI from the company on their respective deliveries from Fukuoka.

Navig8 Chemical Tankers added that it has secured ten and half year bareboat charters for the tankers, commencing at the time of their deliveries.

The company has purchase options to re-acquire the vessels during the charter period, with the first such option exercisable on or around the fifth anniversary of each delivery.

As disclosed, the net proceeds from the transaction to the company will be USD 74 million.

In connection with the above arrangements, BNPP and CA-CIB will also provide debt financing of up to USD 22,940,000 to reimburse the company in respect of pre-delivery instalments already paid to Fukuoka for the newbuildings. The chemical tanker owner added that the pre-delivery financing will be repaid upon the delivery of the vessels.

The company signed the first sale and leaseback deal with SBI’s subsidiaries in September, 2016 for two 25,000 DWT chemical tankers being built by Kitanihon Shipbuilding, under the same terms.

The company entered into 11-year bareboat charters for the vessels, commencing at the time of their deliveries.  The net proceeds from the transaction are expected to reach USD 74 million.

Listed on the Norwegian OTC market, Navig8 Chemical Tankers was established in 2013 as a joint venture between the Navig8 Group and funds managed by Oaktree Capital Management L.P. It has taken delivery of 30 chemical carriers to date and anticipates delivery of its full 32-vessel fleet by mid-2017.

2017-05-22 11:40:11

Greek owner of dry bulk vessels Diana Shipping has taken delivery of M/V Astarte, a 2013-built Kamsarmax bulker, from compatriot shipping company Thenamaris.

The 81,513dwt Astarte, previously known as Seatrust, was bought for US$22.6m in late April, according to data provided by VesselsValue.

Last month, Diana's board of directors approved the acquisition of three vessels including Astarte.

With a gross tonnage of 43,500 tons, the bulk carrier features a length of 229 meters and a width of 32.3 meters.

Astarte, which flies the flag of Malta, was built by South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME).

Including the newly delivered ship, Diana's fleet currently comprises 50 dry bulk vessels with a total carrying capacity of around 5.8 million dwt and an average age of 7.86 years.

The company also expects to take delivery of one Post-Panamax bulker by the end of May 2017.

2017-05-22 11:37:37

Taiwan Navigation Company (TNC) has been tied to the order of two Ultramax bulk carriers.

The order was allegedly placed by the company at Japanese Oshima shipyard on May 10, VesselsValue's data shows.

As set under the contract terms, the company would pay USD 25.5 million for each of the two 62,000dwt vessels.

The bulkers are expected to be delivered in October and November 2018.

Currently, TNC's fleet comprises 36 vessels with a total deadweight of 1.6 million tons, according to the company’s data.

World Maritime News contacted TNC for more details on the matter, however, the company is yet to reply.



2017-05-19 11:36:01

Athens-based dry bulk shipowner DryShips has taken delivery of the previously announced 81,129dwt Kamsarmax drybulk carrier.

The 2014-built vessel will be employed in the spot market, according to its new owner.

In mid-April, the Greek owner entered into agreements with unaffiliated third parties to buy three Kamsarmax drybulk carriers, all of which were 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 earlier said that it would finance the total gross purchase price of USD 68 million using cash on hand, which currently stands at USD 429 million.

Since the beginning of this year, the company has taken delivery of five vessels and expects to take delivery of twelve more by the end of the year.

2017-05-19 11:33:19

JS Ineos Invention, the final of eight Dragon Class vessels ordered from China's shipyards by Danish shipping company Evergas, has been delivered to its charterer INEOS.

Back in 2013, Evergas ordered four identical vessels from the Sinopacific Offshore & Engineering shipyard in Qidong, China. The order was further expanded to eight vessels.

Six ships from the batch were built at Sinopacific, while the remaining two, namely, JS Ineos Invention and its sister vessel JS Ineos Intuition, were constructed at Jiangsu New Yangzijiang shipyard in China.

The carriers are purpose built for the transportation of ethane, although they can carry a wide range of petrochemical gasses and LPG.

Each of the eight ships is 180 meters long and 27 meters wide, with a draft of approximately 9 meters.

"With the delivery of … JS Ineos Invention to INEOS earlier this week, the first milestone of the project has been completed and all vessels are now in full operation and transporting Ethane from the US to Europe," Evergas said.

2017-05-19 11:30:03

Exmar LPG, a joint venture of Exmar NV and Teekay LNG Partners, has reached an agreement with South Korean shipbuilder Hyundai Heavy Industries (HHI) to take over and novate an existing newbuilding contract for an LPG carrier.

The 38,000cbm fully-refrigerated midsize gas carrier (MGC) is scheduled for delivery in the third quarter of 2018, according to Exmar.

"The acquisition is consistent with the Exmar LPG Joint Venture's strategy of fleet renewal to preserve its market share and contract of affreightment (CoA) franchise with its customers in both the Ammonia and LPG trade," Teekay LNG Partners said in a separate statement.

The installment payments on the vessel are expected to be financed by Exmar LPG's existing liquidity and the joint venture expects to secure long-term financing prior to delivery.

Currently, Exmar LPG has three MGC LPG newbuildings on order at Hanjin Subic shipyard in the Philippines. The three 38,000cbm vessels are expected to join the company's fleet in 2017 and 2018.

2017-05-17 10:32:25

Athens-based shipowner DryShips Inc. has taken delivery of a 115,666dwt Aframax tanker built in 2012, which will be employed in the spot market.

Since the start of its acquisition program, in addition to the above, DryShips has taken delivery of a total of three vessels. Namely, one 2014-built Kamsarmax drybulk vessel, which features 81,918 dwt, was delivered on May 10, 2017.

At the start of the month, the company took delivery of a 205,855 dwt Newcastlemax drybulk ship, built in 2014. Additionally, in late April, DryShips added a 113,644 dwt Aframax newbuilding tanker.

"We are very excited to have taken delivery of four newly acquired vessels at historical low prices. DryShips continue to execute the plan to diversify its fleet and can now begin to generate cash flows with high quality operations and services to its charterers," said George Economou, Chairman and Chief Executive Officer.

Besides the two Aframax tankers, DryShips owns a fleet of 13 Panamax drybulk vessels, four Newcastlemax drybulk vessels, five Kamsarmax drybulk vessels, one very large crude carrier, one Suezmax tanker and four VLGCs.

2017-05-17 10:31:23

Connecticut-based operator of dry bulkers Eagle Bulk Shipping has taken delivery of M/V Stonington Eagle, the third ship of the recently bought nine Crown-63 Ultramax dry bulk sister vessels from Greenship Bulk Trust.

The 63,500dwt Stonington Eagle, previously named JS Garonne, was built by Chinese shipbuilder Dayang Shipbuilding in 2012. Currently, the ship has a market value of USD 17.06 million, VesselsValue's data shows.

The bulker joins the company's fleet of 43 vessels on the water, including five Ultramaxes.

The remaining six Ultramaxes are expected to be handed over to Eagle Bulk over the coming months. Following their delivery, the company's owned fleet will consist of 49 bulkers.

Under the deal, which was first unveiled in late February 2017, Eagle Bulk Shipping agreed to acquire six Crown-63 Ultramaxes, while an additional three ships were contingent upon final approval from Greenship's unit holders. The approvals for the additional vessels were granted in March 2017.

The company acquired the nine ships, to be renamed after Connecticut coastal towns, for a total of USD 153 million.

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