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Ship Sales

TEAM Sells Two Vessels in Q2

Image: Team Tankers International

 Team Tankers International Ltd. (TEAM) said that the company has agreed to sell the Tour Margaux (8,674 dwt, built 1993).    The transaction closed and the ship was delivered to the buyer in July.  The vessel is classified under Vessels Held for Sale as of June 30, 2017.    Subsequent to the quarter,

NORDEN Expands Tanker Fleet

Photo: NORDEN

 NORDEN is in the process of increasing its tanker exposure. The purpose is to take advantage of the business opportunities provided by the fluctuations of the cyclical market, said a communicaion from the company.   ”During the strong tanker markets throughout 2015 and the first half-year of 2016, NORDEN prioritised coverage.

TORM Updates Fleet Status

Photo: TORM

 Denmark-based shipping company TORM sold three vessels: TORM Anne (1999-built MR vessel), TORM Madison and TORM Trinity (both 2000-built Handysize vessels) during the first six months of 2017.   Furthermore, TORM completed sale and leaseback transactions for three vessels: TORM Helene, TORM Mary and TORM Vita.

Navig8 to Acquire 32 Chemical Tankers

Photo: Navig8 Chemical Tankers Inc.

 Navig8 Chemical Tankers Inc,  international  shipping company focused on the transportation of chemicals, has  entered  into  contracts  to  acquire  32  modern,  fuel-efficient  newbuilding  chemical  tankers.    As of today, 31 of these vessels have been delivered and are in operation, the company said in a press release.

SITC Shipowning Orders Four Newbuilds

Photo:  SITC International Holdings Co., Ltd

 SITC Shipowning, a wholly-owned subsidiary of SITC International Holdings Co, has exercised the options for the construction of two container vessels, said a company release.   SITC Shipowning also entered into the New Shipbuilding Contracts with the Builder for the construction of two additional container vessels.

DSME Bounces Back with USD 1 Bln Profit in Q2

Photo: DSME

 South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co (DSME) said that its net profit reached 1.26 trillion won (USD1.1 billion) in the April-June period.   According to a report in Yonhap, it posted a profit for the second straight quarter in the second quarter, largely thanks to

Investors Enthusiasm in Cochin Shipyard

The Union Minister for Road Transport & Highways and Shipping, Nitin Gadkari addressing at inauguration of the renovated BSE International Convention Hall and Listing Ceremony of Cochin Shipyard Ltd., in Mumbai on August 11, 2017. Photo: PIB

 Indian government is committed for infrastructure development and the track record of last three years has increased the faith of the investors which has resulted in 76 times oversubscription of IPO of Cochin Shipyard (CSL), a government flagship company, said Union Minister of Shipping, Nitin Gadkari.

Dship Carriers is Expanding its Fleet

Photo: dship Carriers

 dship Carriers, the multi-purpose project carrier belonging to the deugro Group, is expanding its fleet, adding three heavy-lift MPP vessels in July/August 2017, which will primarily be used for trade lanes between Asia, the Persian Gulf, and Europe.   MVs Holandia, Helvetia, and Gallia were named

DHT Holdings Completes Delivery of 9 VLCCs

Photo:  DHT Holdings, Inc.

 Bermuda-based DHT Holdings has completed the delivery of the nine VLCCs acquired from the BW and the contracts for the two newbuildings due for delivery in 2018 have been transferred to DHT.    DHT has a fleet of 30 VLCCs, 26 in the water and four under construction scheduled for delivery in 2018, as well as two Aframaxes.

Vale Sells Two Large Ore Carriers for $178 Mln

Brazilian mining company Vale SA on Wednesday said it has sold two ships with a capacity to carry 400,000 tonnes of iron ore each for a total of $178 million.   The company said it received the payment on August 8 and that it is in talks to sell two remaining ships of the same class (VLOC, very large ore carriers).

Yangzijiang Shipbuilding Q2 Profit Surges 73%

The world's largest hatch cover - 400,000-dwt VLOC of Brazil Vale. Photo: Yangzijiang Shipbuilding Holdings

 China’s Yangzijiang Shipbuilding Holdings reported a 73 percent increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels,  Reuters reported.   The company, which specialises in dry-bulk carriers,  posted a net profit of 719.92 million yuan (S$146 million) for the second quarter ended June 30,

G E Shipping to Buy Secondhand LR2 Tanker

The Great Eastern Shipping Company Limited (G E Shipping) said it has signed a contract to buy a secondhand Long Range 2 (LR2) product carrier of about 105,000 dwt. The 2009 built vessel is expected to join the company’s fleet in Q2/Q3 FY18.   The company’s current fleet stands at 46 vessels, comprising 30 tankers (12 crude carriers,

ZEABORN Buys Five Heavy-lift Cargo Ships

(Photo: ZEABORN)

 On July 31, 2017, the ZEABORN Group signed the contracts for the purchase of five 30,000dwt Superflex Heavy Lift vessels, all of which are sister ships of the previously acquired Rickmers Hamburg, and are employed in the Rickmers-Line liner service acquired by ZEABORN in April. The parties involved have agreed not to disclose the purchase price.

GE Shipping to Buy L2R Product Carrier

Photo: The Great Eastern Shipping Co. Ltd

 The Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a second-hand L2R product carrier of about 105,000 dwt, the company said in a press statement.   The company said that the 2009 built vessel is expected to join the company’s fleet in Q2/Q3 FY18.   The Company’s current fleet stands at 46 vessels,

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