Ship Sales & Purchase
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2018-06-13 15:53:16

Ocean Network Express (ONE) has taken delivery of ONE Stork, its first magenta-colored newbuilding containership with a carrying capacity of 14,000 TEU.

The ship was delivered at Kure Shipyard of Japan Marine United Corporation. The sublet owner is Nippon Yusen Kaisha (NYK Line).

The 139,500 dwt ONE Stork features a length of 364 meters and a width of 50.6 meters. In addition, it has a market value of USD 94.72 million, VesselsValue’s data shows.

Flying the flag of Japan, the newbuild employs a hull form that allows improved cargo-loading efficiency achieved by minimized engine-room space. Moreover, the vessel applies the duel system in its main engine which is capable to choose two other output ranges (high and low) that allows flexible operation and improved fuel consumption rate, resulting in a significant reduction of carbon dioxide emissions, the company explained.

ONE Stork will phase in THE Alliance’s Asia to North America (East Coast) EC4 service with its port rotation Kaohsiung, Hong Kong, Yantian, Cai Mep, Singapore, New York, Norfolk, Savannah, Charleston, New York, and Singapore.

“ONE is excited to take delivery of first new-building containership with our new corporate colour, magenta. The magenta colour shows our intentional drive to do things differently and explore newness in this market,” Jeremy Nixon, Chief Executive Officer of ONE, commented.

ONE is a joint venture of Japanese shipping companies Kawasaki Kisen Kaisha, Mitsui O.S.K. Lines, and Nippon Yusen Kabushiki Kaisha. It commenced operations in April this year.

2018-06-13 15:44:25

Greek shipowner and operator Navios Maritime Partners expanded its fleet with the 74,475 dwt Panamax vessel, the Navios Altair I.

The 2006-built unit, which was acquired for a price of USD 11 million, was delivered to its new owner on June 7, 2018.

Navios Partners informed that the vessel is chartered out at a net rate of USD 9,844 per day until November 2018.

Based on the existing charter and the current rate environment, the Panamax is expected to generate some USD 2.3 million of EBITDA for the first year, assuming maximum redelivery period from charterers, operating expenses approximating current operating costs and 360 revenue and cost days.

The acquisition of the vessel was financed with cash on the balance sheet and USD 7.15 million bank debt maturing in 2023 and bearing interest at LIBOR plus 300 bps per annum.

Navios Partners controls a fleet of 38 vessels, of which 13 are Capesize vessels, 17 are Panamaxes, three are Ultra-Handymaxes and five are container vessels.



2018-06-12 17:05:06

Belgium-based tanker owner Euronav has sold its 1998-built Suezmax tanker, Cap Jean.

The 146,643 dwt vessel, which was disposed for a price of USD 10.6 million, was delivered to its new owners on June 8.

Euronav informed that it will record a capital gain of around USD 10.6 million in the current quarter.

The sale of Cap Jean is part of the company's fleet rejuvenation program.

Together with the sale Euronav is taking in operation four new Suezmax vessels, of which two have already been delivered, with the remaining two due for delivery from the Hyundai yard in South Korea (HHI) during summer 2018.

Those four vessels will all go under seven-year time charter contracts with an undisclosed refinery player, the company concluded.

2018-06-12 17:00:02

Croatian shipyard Brodosplit launched a new Polar Class 6 expedition cruise ship, constructed for Dutch shipping company Oceanwide Expeditions, on June 9.

Featuring a length of 107.6 metres and a width of 17.6 metres, the new ice-strengthened vessel will be named Hondius when it enters service in 2019.

The vessel will be capable of accommodating 196 passengers and 70 crew members and is expected to welcome its first guests on board in June next year.

The ship has been built to a new financing model for the company's fleet and for long-term lease to other cruise lines. The company has purchase options at any time, and a purchase obligation after 10 years.


2018-06-12 14:36:49

Shareholders of Norwegian shipowner Songa Bulk have approved the earlier announced sale of fifteen vessels to Greece-based dry bulk shipping firm Star Bulk Carriers.

Under the deal, Star Bulk will acquire 15 operating vessels of Songa for an aggregate of 13.725 million common shares of the company and USD 145 million in cash.

The approval of the shareholders of Songa was a condition to the closing of the vessel purchase transaction, which was unveiled mid-May.

The transaction remains subject to other customary closing conditions, and is expected to be undertaken by the third quarter of 2018, according to Star Bulk.

2018-06-11 14:26:50

Shipping firm Wallenius Wilhelmsen Ocean has expanded its fleet with the Neo-Panamax vessel MV Titus, capable of carrying 8,000 cars.

Built at China’s CSIC Xingang shipyard, MV Titus is the first of a series of four Post-Panamax vessels with a combined capacity of 32,000 CEU. The second vessel in the series is expected to enter service later this year and two are scheduled for delivery in 2019.

WW Ocean already has four vessels of the HERO design in operation, which have proven their ability to deliver from an operational and environmental perspective.

“For a modern, efficient and environmentally sound fleet, Wallenius Wilhelmsen continues to replace older tonnage with modern vessels in line with our long-term plan. As it starts its journey today, Titus is one of the most efficient neo-panamax vessel on the seas,” Michael Hynekamp, President & COO Wallenius Wilhelmsen Ocean, said.

Titus is a High Efficiency RoRo (HERO) class vessel specially designed to reduce energy consumption and emissions per tonne/kilometer cargo transported, according to Oslo-based Wallenius Wilhelmsen.

The advanced hull is tailored for efficient operations in a wide range of sea conditions, and improves the cargo to ballast ratio. The increased beam of 36.5 meters provides better stability, hence less need for ballast water.

On its maiden voyage, Titus' first port of call will be Yantai, from where it will be sailing the Asia – North America trade.

2018-06-04 17:03:02

South Korean shipbuilder Samsung Heavy Industries has received an order to build four shuttle tankers for petroleum tanker owner and operator AET.

The company is paying KRW 392.3 billion (USD 365.6 million) for the units, which are scheduled for delivery in 2020, the shipbuilder said in a stock exchange filing.

The order comes on the back of an agreement reached between AET, a wholly-owned subsidiary of MISC Bhd, and the Brazilian petroleum corporation Petrobras, through which the companies aim to extend their partnership in the DP2 shuttle tanker sector.

Featuring 152,000 dwt, the four specialist DP2 Suezmax tankers will be contracted to Petrobras for operations in international and Brazilian waters.

Compliant to IMO NOx Tier 3 requirement, the new vessels will be in addition to the two AET DP2 ships currently on charter in the Brazilian Basin for Petrobras.

2018-06-04 15:52:24

Chinese shipbuilder Hudong-Zhonghua Shipbuilding delivered CESI Lianyungang, the final LNG carrier built for SINOPEC's LNG project, on May 31.

Ordered by the joint venture of Mitsui O.S.K. Lines (MOL), China COSCO Shipping Corporation Limited (CCSC) and China Petroleum & Chemical Corporation (SINOPEC), CESI Lianyungang is the sixth vessel in the China LNG Transportation Project.

The 174,100 cbm newbuild will sail under a long-term charter transporting LNG that SINOPEC purchases from the Australia Pacific LNG Project. With a length of 290 meters and a width of 45.6 meters, CESI Lianyungang can reach a speed of 19.5 knots.

The abovementioned project follows the ExxonMobil LNG project which included the construction of four LNG carriers delivered by Hudong by April 2016.

The five vessels already delivered for the project are jointly owned by MOL (20%), CCSC and SINOPEC (80%).

MOL is currently involved in the operation of 96 LNG carriers — including FSRUs — and vessels under construction.

2018-05-30 17:27:51

Monaco-based shipowner Scorpio Tankers has decided to sell and leaseback six MR product tankers to China Huarong Shipping Financial Leasing.

The ships in question are STI Opera, STI Virtus, STI Venere, STI Aqua, STI Dama, and STI Regina.

As explained, the lease financing arrangements are part of the company's new financing initiatives that were announced in April 2018.

As part of the agreements, the company will bareboat charter-in the vessels for a period of eight years. Additionally, the company has purchased options beginning at the end of the third year of each agreement. There is also a purchase obligation for each vessel upon the expiration of each agreement.

Upon completion, the company's liquidity is expected to rise by USD 48 million in aggregate after the repayment of outstanding debt.

These lease financing arrangements are subject to customary conditions precedent and the execution of definitive documentation, according to Scorpio Tankers.

Earlier in May, Scorpio Tankers also inked sale and leaseback deals for three MR and two LR2 product tankers.

2018-05-29 17:34:28

German cruise line AIDA Cruises, part of Carnival Corporation, has revealed plans to expand its fleet with one more ship in 2019.

To be named AIDAmira, the ship will be deployed in the company’s Selection program, sailing to South Africa.

As informed, the vessel in question is Costa neoRiviera and will be transferred from Costa Cruises’ fleet.

“The feedback we have received from our guests and the high demand for our AIDA Selection program continually inspires us to keep expanding our variety of routes (…) Therefore, we are very pleased to have found with the Costa neoRiviera the perfect ship within the Costa Group for our explorer fleet at such short notice. Many of our guests have been hoping for AIDA cruises to South Africa for a long time. I am pleased that we are now able to fulfill this wish,” Felix Eichhorn, President AIDA Cruises, commented.

Currently, AIDA Selection program includes three ships – AIDAaura, AIDAcara and AIDAvita.

Following remodeling and refurbishment works, AIDAmira is scheduled to depart on its maiden voyage on December 4, 2019, from Palma, Majorca.

AIDA Cruises will welcome a new fleet member also in November 2018, when AIDAnova is expected to be delivered to the cruise line. Apart from AIDAnova, two more newbuilds will join AIDA Cruises in 2021 and 2023, bringing the company's fleet to sixteen ships.

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