Italian shipowner d’Amico Dry has sold 2008-built supramax bulk carrier Medi Valencia.
The company said: “We can confirm the sale of the m/v Medi Valencia (56,000 DWT) but we cannot disclose the name of the buyer and the price due to confidentiality clause. The sale of this vessel from d’Amico Dry is part of the company’s strategy to renovate its fleet”.
According to brokers, following an earlier sale which finally failed, the buyer of the Medi Valencia is SR Shipping of Bangladesh which already controls a fleet of five supramax and six handymax bulkers. The sale price is said to be around $12.3m.
Chinese bulker owner Fortune Ocean Shipping has finally found a buyer for its four 2015-built, 34,400 DWT handysize vessels, Xing Jing Hai, Xing Ning Hai, Xing Yuan Hai and Xing ZhiHai.
The four Namura-built vessels were reported sold to undisclosed Greek interests for around $18.5m each in November last year, but that deal failed. Now broker sources tell Splash the ships have been tied up again, this time fetching $17.5 m each, cutting Fortune Ocean’s handysize fleet in two. The buyer has yet to be identified.
Fortune Ocean currently operates a fleet of 22 bulkers, with another two Panamax new shipbuildings on order.
Finland’s ESL Shipping has acquired 2011-built self-unloading bulk carrier Alppila from SEB Leasing.
The acquisition was made as part of a lease agreement signed between the two parties in 2011.
No price was given for the transaction, and the market value of the ship is around $4.42m according to VesselsValue.
ESL currently operates a fleet of 14 bulk carriers.
Cara Shipping, the Singapore-based shipping unit of China’s Rizhao Steel, has sold five kamsarmax bulkers to CDB Leasing, the financial leasing house of China Development Bank, in a low profile transaction.
Cara Shipping has transferred the ownership of Stella Ellena, Stella Pearl, Stella Dawn, Stella Eva and Stella Belinda to CDB Leasing and the five vessels have been renamed CL Rizhao, CL Tianjin, CL Dalian, CL Singapore and CL Beijing.
The sale is believed to be part of a financial leasing deal.
Cara Shipping also recently sold another two Capesize bulkers, Stella Charlene and Stella Annabel, to South Korean owner Sinokor. The two vessels have been renamed Pacific East and Pacific North.
Following the sale, Cara Shipping’s fleet has been downsized to 21 vessels made up of 17 bulkers and four tankers.
Following a recent order for a pair of small tankers in China and the purchase of two MR1s from Rederi Ab Gotland, Parma-based shipping company Amoretti Armatori has just completed the sale of one of the older vessel in its fleet.
The 1997-built Rina Amoretti, after coming off time charter to the same oil major in Northern Europe for two decades, has been sold to Estonia’s NT Marine for around $4.5m. The vessel has been renamed, Rina.
Rina is the third small tanker bought by NT Marine from Italian owners.
In those days, Connecticut-based tanker shipping company Diamond S Shipping has decided to sell two of its 2008-built medium-range (MR) product carriers as part of its fleet renewal efforts.
The company has agreed to dispose of theAtlantic Aquarius and Atlantic Leo.
As informed, the 50,000 DWT vessels are expected to be delivered in the third quarter or early the following quarter.
Diamond S Shipping said it would recognize a non-cash charge of about USD 9.5 million per vessel this quarter. The company expects to the sale to generate liquidity of about USD 12 million in aggregate after repayment of outstanding debt and settlement of working capital.
Diamond S Shipping owns and operates 68 vessels, including 15 Suezmax vessels, one Aframax and 52 MR product tankers.
Production is shut down at the 220,000-barrel-per-day Hibernia oil platform off the coast of eastern Canada, Hibernia's largest shareholder ExxonMobil Corp said on Monday, after atemporary power cut led to oil and water leaking into the ocean.
Exxon estimated around 14 barrels of oil leaked. It is the second spill in a month from the platform and comes just days after Hibernia resumed production following the mid-July leak.
The platform has been producing oil since1997 and sits roughly 315 kilometers east of St. John's, Newfoundland andLabrador.
Hibernia experienced a temporary loss of power on the evening of Aug. 17 that shut down the compressed air system, Exxon said in a statement. That resulted in air pressure declines that ultimately led to the platform's drain system overflowing and releasing oil and water into the ocean.
Power was restored but production remains shut down and an investigation is ongoing.
Exxon said four vessels have been deployed to help clean up the spill and surveillance flights and satellite imagery are being used to spot surface oil. Wildlife observation and water sampling are underway.
Siem Offshore Sells multi-purpose support vessel that can perform underwater tasks
Norwegian offshore vessel owner SiemOffshore said it had sold the multipurpose support vessel (MPSV) Siem Marlin toNigerian services company Marine Platform.
Siem Offshore did not disclose the sale price.
Siem Marlin, a 2009-built multipurpose field and remotely operated underwater vehicle (ROV) support vessel (MRSV), is expected to be delivered to its new owners this week.
The 93.6-meter vessel is equipped with a 100-ton heave compensated offshore/subsea crane and is specially designed for ROV and light construction duties. Furthermore, thanks to its low fuel consumption, this vessel can reduce emission to the environment. Low noise in hull and superstructure ensure excellent sea-keeping and high comfort for the crew and personnel.
Farstad is returningto the offshore market, marked by picking up a PSV
The new shipowning company Sverre Farstad & Co has taken ownership of a 2016-builtplatform supply vessel (PSV), marking a return for the Farstad name in theNorwegian offshore sector.
Now the Farstad family is returning to theoffshore support vessel (OSV) business with Blue King, a 2016-built PX121 typevessel designed by Ulstein Design & Solutions and originally delivered frombuilder Ulstein Verft in May 2016. At 83.4 meters in length and with a deadweightof 4,065 metric tons, Blue King is a medium-sized PSV featuring Ulstein'ssignature X-Bow.
A total of 204 bulk carriers have been sold since the beginning of 2019, interestingly however only 6 of these have been Capesize Bulkers.
During a period of 4 months from December 2018 to April 2019, no Capesize sales were concluded. This break of 106 days had never been seen in the market before.
The lack of activity can be attributed to a lull in buying confidence brought on by poor spot rates and the collapse of the Vale owned Brumadinho dam in Brazil and its consequent effect on cargo supply.
The record came to an end when the well-known owner, Fred Cheng, sold 2 x 2002 BLT units the Shinyo Challenger and ShinyoEndeavour in quick succession both to Chinese buyers.
By contrast, tankers have had a quieter in 2019 with only 141 sold since the beginning of the year.
The lackluster activity has been in part due to poor market sentiment and earnings but also from changing global regulations and an increase in sanctioning activity coming from the US.
Modern assets have performed the best with resale prices for VLCC in particular reaching a recent 5 year peak at USD$98million. This is partly due to rising new ship-building costs but also afunction of owners looking to reposition themselves with modern high specificationassets in time for IMO 2020.
Recent VLCC time charter fixtures suggestthat charterers are currently willing to offer premiums for scrubber fittedvessels. A prime example of this being a 2018 scrubber fitted VLCC “The Maria PLemos” being fixed to Mercuria for 3 years at USD$43,000 per day, a rate that has not been seen in over 4 years.
The offshore market has experienced a healthy level of sale and purchase activity. With a number of supply and construction boat sales being concluded as a result of the well-publicized TOISA bankruptcy in 2018.
Besides,we have also seen improving fundamentals especially in the North Sea and as a result further modern / resale assets being concluded albeit still at historically low figures.
PSV’s have proven the most popular choice with 33 vessels sold since the beginning of 2019.