rss icon Subscribe
desktop mobile

Noble Group To Sell Ship For $24 Million

Image: Noble Group

By Aiswarya Lakshmi

Struggling commodity trader Noble Group Ltd said it would sell to Bianca Corp a Kamsarmax dry bulk carrier for $24 million in cash.

The Hong Kong registered ship has a capacity of 81,499 deadweight tons. Built in 2015, the vessel, Ocean Integrity, is employed to service external customers as well as Noble Group's internal freight requirements.
"The consideration for the Proposed Disposal shall be US$24 million payable on completion of the Proposed Disposal and will be satisfied in cash. The Consideration was arrived at after arm's length negotiations between NGL and the Buyer, on a "willing buyer willing seller" basis, and taking into account, inter alia, the valuation of the Vessel and the Vessel's specifications and age," said a statement from the company.
The Vessel is currently mortgaged to a financial institution and part of the proceeds from the proposed disposal will be used by Noble Group to pay down the amounts owned under the relevant facility.
Two valuations of the vessels were recently commissioned by Noble Group on Feb 1. The first one was conducted by Arrow Valuations, and the second by Clarkson Valuations; both valued the vessel at US$24 million.

Mar 11, 2018



GasLog Partners Acquires GasLog Gibraltar

Photo: GasLog

GasLog Partners has agreed to acquire GasLog Gibraltar from GasLog (GLOG) for USD 207 million and

Euronav, Gener8 Maritime Merger to Close in 2Q 2018

Photo: Euronav NV

Tanker operators Euronav NV said that it remains confident of closing a takeover of the U.S.

Dorian LPG Announces Third Japanese Financing

Photo: Dorian LPG

Dorian LPG, a leading owner and operator of modern and ECO very large gas carriers (VLGCs)

People & Company News

DP World, Tata Group Mull Cooperation Opportunities

Photo: Government of Dubai Media Office (GDMO)

Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World, has met senior

GasLog Partners Acquires GasLog Gibraltar

GasLog Partners has agreed to acquire GasLog Gibraltar from GasLog (GLOG) for USD 207 million and to fully repay its USD 45 million unsecured term loan from GLOG.

ZIM Upgrades ZCP, Rolls-out CFX Service

Photo: ​ZIM Integrated Shipping Services Ltd

The biggest cargo shipping company in Israel ZIM Integrated Shipping Services (ZIM) upgrades ZIM

Maritime Apps