Ship Sales & Purchase
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2018-08-08 14:49:45

India-based shipping company Great Eastern Shipping (G E Shipping) has signed a contract to purchase an 81,605cbm VLGC. The vessel was built in 2006 and the delivery is expected for the second quarter of 2019.

However, the name and the price of the vessel remains unveiled.

At present, the shipping company owns a fleet of 48 vessels, which is made up of 34 tankers and 14 bulkers with an average age of 11.03 years.

2018-08-07 14:30:40

Greece-based dry bulk shipping firm Star Bulk Carriers has completed the acquisition of sixteen bulkers from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction.

The vessels in question are composed of five Newcastlemaxes / Capesizes, two Mini Capesizes, eight Post Panamaxes/ Kamsarmaxes and one Ultramax. They were mainly constructed in Japan and Korea with an average age of 4.5 years.

Star Bulk will see its fleet hit 90 units, with a total capacity of 10.2 million dwt upon the delivery of the sixteen bulkers.

2018-08-06 14:28:04

The Dutch maritime industry has been rejuvenating after many years of depression.

Chairman of the Netherlands Maritime Technology (NMT) trade association Bas Ort said that the country's shipbuilders has gained many orders in 2017. The orderbook totaled 93 vessels with a combined tonnage of 437,000 CGT. According to Bas Ort, the yards mainly received the orders for cutter suction dredgers and super yachts.

However, the global orderbooks decreased even more, and a number of yards found themselves in difficulties. The effects were especially visible in China and South Korea.

“The only way for the global shipbuilding industry to survive is constant innovation and a focus on fair international competition,” Bas Ort says.

“This is why NMT continued its efforts to once again get a subsidy for innovations in new vessels up and running in 2017. We remain committed to a level playing field, both outside and within Europe. Meanwhile, more and more companies are also seeing that the Netherlands is in a position to become one of the international leaders in making shipping more sustainable.”

A strong Green Deal between the sector and the national government (as announced in the Dutch coalition agreement in 2017) should help in this context.

“The coming years will see all kinds of environmental regulations come into force that affect shipping. Our yards and maritime suppliers have the innovative solutions required to supply vessels, and technologies that meet the most stringent requirements. Public authorities, vessel owners and maritime suppliers will have to work together to fulfil our stated ambition of maintaining a level playing field in this context too.”

2018-08-06 14:15:00

Norway-based ferry company Norled under DSD Group has placed an order of two additional double ended diesel electric hybrid ferries at Polish Remontowa Shipbuilding.

The ordering of the vessel pair, based on the LMG 120-DEH design,  came less than a month after the signing of the shipbuilding contract for the first two units.

2018-08-03 15:54:37

Hong Kong-based containership owner Seaspan Corporation has recently registered an almost 100 percent yearly rise in net earnings for the first half of this year, from US$68.3 million recorded a year ago to US$135.7 million this year.

The shipowner cited the fleet expansion as the main reason for the increase in net earnings. Specifically, it added the containership fleet of the Greater China Intermodal Investments (GCI) after taking over the latter. Besides, it received four 10,000teu containerships and all of them kicked off a long-term charter with

The company's fleet is composed of over 100 containerships whose total capacity exceeds 900,000 TEU. Its age averages 5 years.

2018-08-03 15:45:41

Bulker operator Navios Maritime Partners has inked an agreement to buy a pair of bulkers from its affiliate, Navios Maritime Holdings, for US$79 million in July 2018.

The ships in question are the 2016-built Panamax Navios Sphera and the 2016-built Capesize Navios Mars, featuring 84,872dwt and 181,259dwt respectively.

Navios Partners mentioned the acquisition in its second quarter financial report. Besides, the company bolstered its fleet with three Panamaxes, built in 2006 and 2005, for the period. The three vessels are respectively the 74,475dwt Navios Altair I, the 74,381dwt Navios Symmetry, and the 87,052dwt Navios Apollon I.

In addition, Navios Partners booked a net loss of US$29.5 million in the second quarter, down from a net income of US$4.1 million recorded in the same period a year ago.

2018-08-02 14:39:25

GoodBulk Ltd. has spent US$68.3 million acquiring two second-hand Capsizes, each of which weighs 180,000dwt. They are expected to be delivered by Sept.30, 2018.

The two bulkers were built in 2011 and 2012 by South Korean shipbuilder Daehan.

2018-08-02 14:33:51

Hong Kong-based Agritrade Resources Limited has decided to dispose of one of its very large crude carriers (VLCCs) Sea Latitude. The carrier was built in 2001 by a South Korean shipyard. The company cited the age and high maintenance costs as the major reasons for the sale.

The company has inked a memorandum of agreement with Singapore-based Da Shun Shipping to sell the vessel for US$22.5 million.

The delivery of the vessel is expected on or before August 7, 2018.

It is worth noting that the crude shipping industry is plagued by low freight rates in the first half of 2018. The earnings for VLCCs during the period were only
US$6,001 per day on average.

2018-08-02 14:31:37

Luxembourg-based transportation company CLdN Cobelfret has recently obtained a loan from a German bank to purchase two new roll-on/roll-off (RoRo) vessels. The company plans to refresh its fleet in the North Sea region by the two additions.

The company will receive EU€73 million (approximately US$85.3 million) from KfW IPEX-Bank for the purchase.

The bank said that the pair's CO2 emissions will be much lower than those of the current fleet.

The two ferries are to be constructed at South Korean shipyard Hyundai Mipo Dockyard.

2018-08-01 13:50:15

China State Shipbuilding Corporation (CSSC) has recently started the construction of 22,000teu container ships ordered by CMA CGM in September 2017. The steel cutting ceremony was held on July 26 at CSSC's Jiangnan Shipbuilding. The ships measure 400 meters in length, 61.3 meters in breadth and 33.5 meters in depth, which are the largest container ships worldwide.

The pair of vessels are part of a series of nine with the other seven under construction in CSSC's Hudong-Zhonghua Shipbuilding. As disclosed, the value of the series totals US$1.2 billion.

It is worth noting that they will all be equipped with LNG-powered engines, marking them the world's largest ships to be fuelled by LNG.

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