Ship Sales & Purchase
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2018-06-20 14:21:14

Japanese shipping company Kawasaki Kisen Kaisha (K Line) has ordered a bulk carrier from compatriot Imabari Shipbuilding.

The newbuilding will have a maximum deadweight of 100,000 tons, the shipbuilder said.

As informed, the new ship will comply with the third NOx regulation, reducing nitrogen oxide emissions by approximately 80 percent, compared to the first regulation.

The order follows a consecutive voyage charter agreement K Line recently signed with Kobe Steel. Under the 15-year agreement which is scheduled to commence in 2021, K Line will be transporting coal for power generation to Kobe Steel’s coal-fired power plant in Kobe City, Hyogo Prefecture.

What is more, another Japanese shipping company, Nippon Yusen Kaisha (NYK) entered into a 20-year consecutive voyage charter agreement with Kobe Steel. NYK Line’s 98,500 dwt ship will also feature nitrogen oxides control technology and will be transporting coal to Kobe City. The newbuild is under construction at Oshima Shipbuilding yard and is slated for delivery in the first quarter of 2021.

2018-06-19 17:52:20

Greek shipowner DryShips is steaming ahead with its fleet rejuvenation strategy and shedding of older tonnage.

The latest move has seen the diversified owner sell two of its older Panamax drybulk carriers, built in 2002.

The duo fetched a gross sales price of USD 18.8 million.

The vessels are scheduled for delivery to their buyers during the third quarter of 2018.

The move comes on the heels of DryShips’ announced purchase of two younger ships worth USD 93.8 million.

The duo is comprised of a 2013-built Newcastlemax and a 2017-built Suezmax tanker and if the transaction goes ahead will be bought from entities affiliated to George Economou, the company’s Chief Executive Officer.

The purchase price included the associated bank debt of USD 50.3 million.

DryShips said that the transaction is expected to close in June 2018.

Following the recent Panamax sale, the company’s drybulk fleet will comprise 21 ships, including 11 Panamaxes, five Newcastlemax and five Kamsarmax drybulk vessels.

The company also owns a very large crude carrier, two Aframax and two Suezmax tankers, four Very Large Gas Carriers and six Offshore Support Vessels.

2018-06-19 17:24:48

Dutch coastal shipping company Thun Tankers splashed the first of its four 8,000 dwt coastal tankers on June 16 at the Westerbroek shipyard.

The dual fueled, E-Class tanker is a part of the batch ordered by the company in October 2016 from the Netherlands-based shipbuilder Scheepswerf Ferus Smit B.V.

With a cargo capacity of 9,500 m3, the new LNG-fueled tanker will replace some of the company’s older tonnage.

Featuring a length of 115 meters and a width of 15.8 meters, the tanker is of a new design to further optimize efficiency and ecological footprint.

The company earlier informed that the first tankers from the order are scheduled to start joining the fleet from the fourth quarter of 2018.

“The E-class will continue to provide our clients with the dynamics of always having climate smart high quality tankers in the right position at the requested time,” Joakim Lund, CCO Thun Tankers, said.”

2018-06-15 17:20:36

US-based tanker shipping company International Seaways (INSW) has completed the acquisition of six 300,000 dwt very large crude carriers (VLCCs) from Euronav NV.

The ships have been bought for USD 434 million, inclusive of assumed debt, the company said. The six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding.

International Seaways financed the acquisition with the assumption of USD 311 million of debt secured by the six vessels under a China Export & Credit Insurance Corporation (Sinosure) facility funded by The Export-Import Bank of China, Bank of China (New York Branch) and Citibank, N.A., and with available liquidity.

“The acquisition of these (…) sister ships underscores our success in executing on our stated strategy of growing and renewing International Seaways’ fleet during a low point of the cycle,” Lois K. Zabrocky, International Seaways’ President and CEO, explained.

“Since completing our spinoff in December 2016, we have grown our fleet 23% on a deadweight ton basis and reduced the fleet’s average age by close to three years (…) Importantly, INSW has maintained our strong balance sheet with net loan to value at our target of 50%,” Zabrocky added.

“Our logo is a lighthouse, a beacon of safety (…) Each of the ships acquired since our formation is named after a lighthouse: Montauk, Hatteras and Raffles. These six ships are expected to be named after lighthouses as well: Seaways Liberty, Seaways Hendricks, Seaways Diamond Head, Seaways Cape Henry, Seaways Triton, and Seaways Tybee,” he informed.

With the completion of the VLCC acquisition, International Seaways owns and operates a fleet of 55 vessels. Through joint ventures, it also has ownership interests in four LNG carriers and two floating storage and offloading service vessels.

2018-06-15 17:19:17

Vietnam's SP-SSA International Terminal (SSIT) in Cai Mep welcomed its first container vessel, the MSC Rosaria, on June 14.

The boxship, owned and operated by MSC Geneva, will make regular port calls at SSIT in the future.

With effect from June, container operations were added to the terminal, complementing SSIT's operations going forward.

SSIT is a joint venture port established in 2006 between two Vietnamese companies, namely Saigon Port and Vinalines, and the US-based SSA Marine.

Since October 2014, the port, which is the largest and busiest bulk port in southern Vietnam, has been handling bulk vessels.


2018-06-15 17:15:27

Japanese shipping company Mitsui O.S.K. Lines (MOL) has announced the delivery of the coal carrier Oi Maru which will serve JERA Trading.

The 91,211 dwt ship was delivered at Imari Shipyard and Works of Namura Shipbuilding on June 14, 2018.

The vessel, which was jointly developed by Namura Shipbuilding and MOL, is a coal carrier with a wide-beam/shallow-draft configuration and a wide range of advanced safety and energy-saving features, according to MOL.

The vessel is so-called “Hekinan MAX” and has a length of 250 meters to maximize transport volume to the discharging port, Chubu Electric Power’s Hekinan Thermal Power Plant in Aichi, Japan.

The 121,604 cbm vessel, which flies the flag of Liberia, has a market value of USD 31.6 million, VesselsValue’s data shows.

“MOL has operated the same type of vessels, Shin Yahagi Maru and Nagara Maru, since 2015 and 2017, respectively and will play a central role in supplying coal to Chubu Electric Power's Hekinan Thermal Power Plant by operating three “Hekinan MAX” coal carriers,” the company said.



2018-06-14 17:31:41

India’s Great Eastern Shipping Company Limited (G E Shipping) has inked an agreement to dispose of its Supramax bulker Jag Ratan.

The 52,179 dwt vessel will be delivered to an undisclosed new buyer in H1 FY 2018-19, according to the company.

Built at South Korean Daedong shipyard in 2001, the ship has a market value of USD 8.12 million, VesselsValue’s data shows.

Back in 2007, the 65,500 cbm Jag Ratan was purchased by G E Shipping from Turkish Kaptanoglu Group.

Last month, G E Shipping expanded its gas carrier fleet as it took delivery of Jag Vayu, a secondhand medium gas carrier.

Including Jag Ratan, company’s current fleet stands at 49 vessels, comprising 34 tankers and 15 dry bulk carriers with an average age of 10.68 years aggregating 3.97 million dwt.  

2018-06-14 17:28:50

Bermuda-based shipping company Nordic American Tankers (NAT) has secured a 3-year time charter (TC) plus options for one of its Suezmax newbuildings.

The time charter contract, expected to commence in the autumn of 2018, was agreed with Norway's company Equinor (formerly Statoil).

The contract has a base rate of USD 21,000 per day, “producing positive cashflow and earnings,” NAT said. The deal includes two optional periods that could extend the TC contract into 2023.

Scheduled for delivery in August 2018, the unit is one of the three vessels under construction at South Korea’s Samsung Heavy Industries.

“Going forward, we sense an upward trend for the tanker industry as there is a clear expectation for improvement,” the company added.

Over the last two weeks, the company disposed of five Suezmax tankers of 20 years or more. These transactions generate a total cashflow of about USD 50 million.

2018-06-14 17:25:05

Danish shipping and logistics company DFDS has ordered one additional RoRo from the Chinese Jinling Shipyard.

The newbuilding is scheduled for delivery in the first half of 2020.

“This freight new building increases our order book to five large freight ferries, which will increase our efficiency and enable us to accommodate projected growth in our route network in northern Europe and the Mediterranean,” Niels Smedegaard, CEO of DFDS, commented.

The newbuilding is similar to the four previously ordered freight ferries and likewise designed to carry 6,700 lane meters of freight equivalent to around 450 trailers. The large capacity decreases unit costs as well as the environmental impact per transported unit, according to the company.

DFDS' fleet renewal programme also includes two combined freight and passenger ferries to be delivered in 2021 for deployment in the Baltic route network.

In addition, one chartered combined freight and passenger ferry will be delivered in 2021 for deployment on The English Channel routes.


2018-06-13 16:43:20

Norwegian shipowner Ocean Yield has agreed to buy four 3,800 TEU container vessels with 12-year bareboat charters.

The company said that the purchase price for the quartet is USD120 million net of pre-paid charter-hire.

The boxships are expected to be delivered to Ocean Yield during the early part of third quarter 2018.

Built in 2014, the units are chartered to companies owned and guaranteed by Belgium's dry bulk transporter CMB NV. CMB will have certain options to acquire the vessels during the charter period, with the first purchase option exercisable after five years.

“We are pleased to increase our investments in container vessels with four modern carriers with long-term charters to CMB. The transaction further diversifies our client base and increases our charter backlog,” Lars Solbakken, Ocean Yield ASA's Chief Executive Officer, said.

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