Ship Sales & Purchase
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2017-06-29 11:20:37

Greece-based owner of dry bulk carriers DryShips has taken delivery of the previously acquired very large gas carrier (VLGC) newbuilding.

The ship, built at South Korean shipyard Hyundai Heavy Industries (HHI) will be employed under a time charter on a fixed rate with five years firm duration to an unnamed oil major, the company said.

As informed, the charterer has options to extend the firm employment period by up to three years.

DryShips expects a total gross backlog associated with this time charter of up to USD 92.7 million, including the optional periods.

The purchase is a part of a “zero cost” option agreement which DryShips inked in January to purchase up to four high specifications VLGCs capable of carrying liquefied petroleum gas (LPG).

Since the beginning of this year, DryShips has taken delivery of eleven vessels and expects to take delivery of six more by the end of 2017.

2017-06-28 10:32:02

Nine very large crude carriers (VLCCs), acquired from the BW Group Limited, have been delivered to crude oil tanker company DHT Holdings.

The vessels were purchased as part of a batch of eleven VLCCs, including two newbuildings due for delivery in 2018, in March 2017.

DHT added that the contracts for the two newbuildings have also been transferred from BW.

"The delivery of the fleet acquired from BW has been conducted in a speedy and efficient manner, speaking volumes of the professionalism and commitment by everyone involved both onshore and onboard the ships," senior management said.

The company financed the acquisition, worth a total of USD 538 million, by issuing some USD 256 million of capital stock, consisting of 32 million shares of common stock and 15,700 shares of preferred stock that are mandatorily convertible into 15.7 million shares of common stock subject to DHT shareholder approval.

DHT earlier said that it also plans to pay BW Group USD 177.36 million in cash and assume USD 104.16 million in remaining obligations with respect to the two newbuildings.

The company now has a fleet of 30 VLCCs, 26 in the water and four under construction scheduled for delivery in 2018, as well as two Aframaxes. The total dwt of the fleet is around 9,49 million.

"Our fleet has expanded by about 50% at what we think is an opportune time in the cycle. The transaction will deliver cost synergies by lowering G&A expenses per ship and is projected to be accretive to DHT’s earnings. Importantly, it will further improve our already competitive cash break even levels," the company added.

2017-06-28 10:25:32

France-based shipping company Brittany Ferries has confirmed the order for a new LNG-powered cruise ferry to be built at German Flensburger Schiffbau shipyard.

The investment is part of the company's investment budget of GBP 175 million (USD 222.9 million).

In December 2016, the duo signed a letter of intent (LOI) for the 42,400 gross ton ship which will be named Honfleur.

As informed, the 1,680-passenger newbuilding will operate on the company's busiest route from Portsmouth to Caen, with a planned arrival in spring 2019.

The vessel will feature a length of 187.4 meters and a width of 31 meters and will be able to reach a speed of 22 knots.

Upon Honfleur's arrival, Brittany Ferries' ship Normandie will move east to serve the Portsmouth-Le Havre route, according to the company.

2017-06-28 10:19:54

JP Morgan Global Maritime is said to have set sights on buying the 2012-built Supramax bulk carrier Ocean Symphony.

The company allegedly entered into a sub-sale agreement with Japan-based United Ocean Group, according to information provided by VesselsValue.

Once the transaction is completed, the 58,100 dwt Ocean Symphony will be bought for USD 15.2 million.

Currently, the market value of the 32,311 gross ton bulker stands at USD 16.06 million.

Featuring a length of 190 meters and a width of 32.3 meters, the ship was built at Tsuneishi Cebu shipyard in the Philippines.

Earlier this month, World Maritime News reported that JP Morgan Asset Management raised USD 480 million from insurers and pension funds aimed at investing into distressed shipping assets. The fund sparked considerable interest as the shipping sector proved to be one of the sluggish ones abounding in cheap assets.

2017-06-28 10:16:14

Norwegian Joy, Norwegian Cruise Line's first custom-designed ship for the Chinese cruise market, was christened today in a ceremony held onboard the vessel in Shanghai.

"After years spent carefully designing this amazing vessel, my team and I are both proud and thrilled to finally christen the world's first cruise ship custom-designed for the wonderful people of China," said Frank Del Rio, president and chief executive officer for Norwegian Cruise Line Holdings.

Norwegian Joy's christening marks the end of a month-long grand inaugural tour where the ship has been showcased through events at the ports of Singapore, Qingdao, Shenzhen and Hong Kong, as well as cruises from Norwegian Joy’s homeports of Shanghai and Tianjin.

At 167,725–gross-tons and accommodating 3,883 guests, Norwegian Joy was built by German Meyer Werft shipyard.

Measuring 333 metres in length and 41 metres in width, the ship is the second in the line's Breakaway-Plus class.

2017-06-26 13:13:57

Viking Cruises has held a christening ceremony for its third ocean ship, Viking Sky, in Tromsø, Norway.

On the occasion, Torstein Hagen, Chairman of Viking Cruises, commented: “This is a special time of year in Norway – these are the days of the midnight sun and the perfect backdrop for a celebration. All of our ships proudly carry the Norwegian flag, and it is an especially proud day to officially welcome our new ship in Tromsø, the arctic capital of the world.”

Following the christening, the 47,800-ton ship will spend the summer season sailing Viking’s popular itineraries in Scandinavia and the Baltic.

Viking Sky is the third of eight ocean cruise ships currently planned for the fleet. The vessels are able to accommodate 930 passengers and boast 465 cabins.

The first ship, Viking Star, was built and delivered in spring 2015, while the second vessel, Viking Sea, was handed over to its owner in March 2016.

The fourth and fifth ships, Viking Sun and Viking Spirit, are under construction and will be delivered in September 2017 and 2018, respectively.

By 2019, Viking said it will welcome its sixth ship, aiming at becoming the largest small ship ocean cruise line. Two additional ships are on order for delivery in 2021 and 2022.


2017-06-26 11:15:23

China COSCO Shipping Corp has embarked on a major shopping spree, adding 14 ultra large containership newbuilds to its fleet.

The investment comes as the company targets routes from Asia to Europe prompted by new free trade deals, as informed by the China Daily.

Namely, the company bought six 21,000 TEU boxships being built at compatriot Shanghai Waigaoqiao Shipbuilding from Oriental Fleet International, VesselsValue data shows.

The ships are due for delivery in 2018 and they are priced between USD 157-161 million. The transaction is said to have been carried out in early May.

The remaining eight newbuilds, also scheduled for delivery in 2018, feature 13,500 TEUs and have been purchased from China Shipping Development.

The smaller ULCVs are being built by Jiangnan Shanghai Changxing Heavy and their price tags range between USD 101 to 104 million, putting COSCO’s total investment at USD 1.78 billion.

The company is yet to provide World Maritime News with a comment on the matter.

2017-06-26 11:10:22

Greece-based shipping company Oceangold Tankers has reportedly placed an order for a pair of MR2 tankers at the South Korean shipyard STX Offshore.

Featuring 50,000 dwt each, the new tankers are scheduled to join their owner in 2019, according to data provided by VesselsValue.

Oceangold is said to be paying USD 32 million a piece for the new ships, which have a market value of around USD 33.1 million.

Once delivered, the newbuildings would become a part of Oceangold’s fleet, which currently consists of seven ships.

World Maritime News contacted Oceangold for more details on the shipbuilding contract, allegedly signed on June 21, however, the company is yet to reply.

The company’s fleet, comprising LR1, MR2 and one Panamax tanker, features a total size of over 500,000 dwt and has a value of around USD 123.2 million.

2017-06-26 11:06:44

Northern Europe’s shipping and logistics company DFDS has completed the purchase of two Channel Ferries from Eurotunnel.

In June 2015, DFDS and Eurotunnel entered into long-term bareboat charter agreements for the ships.

The vessels in question are the 2001-built Seafrance Rodin and the 2005-built Berlioz, renamed Côte des Dunes and Côte des Flandres, respectively.

The duo also inked in 2015 a put option agreement which provided Eurotunnel with the right to require from DFDS to buy the ferries.

The exercise of the put option has now been completed, according to DFDS.

Previously owned by MyFerryLink, the two ferries were sold to Eurotunnel in 2012.

Earlier this month, DFDS ordered two RoRo newbuildings from Jinling Shipyard in China. The vessels are slated for delivery in early 2020 and planned to be deployed in DFDS’ route network on the North Sea.

“DFDS’ investment outlook for 2017 continues to be around DKK 1.8bn following the adjustment made in connection with the ordering of two freight ships on June 16 2017,” the company said.


2017-06-23 10:35:18

The keel has been laid for Hanseatic Nature, the first of two expedition new-builds owned by Hapag-Lloyd Cruises that are being built at VARD shipyard in Tulcea, Romania.

"It is a great pleasure to watch the development of our first expedition new-build. In the shipyard, as well as in the Hamburg office, many experts in their specialist field, are working daily on completing the two vessels. With our new expedition vessels, we will soon be able to offer very unique travel experiences" says Karl J. Pojer, CEO of Hapag-Lloyd Cruises.

The christening and maiden voyage of Hanseatic Nature are planned for April 2019. The second ship, Hanseatic Inspiration, which will serve the international markets, will launch six months later in October 2019.

The ships' hulls will be constructed in the Romanian shipyard and afterwards be towed to Vard Langsten in Norway, where the outfitting and the finishing of the interior will take place.

As disclosed, both ships will be fitted with cutting-edge equipment and environmental technology and will each accommodate up to 230 guests (or up to 199 guests on Antarctica cruises). The vessels will be assigned with PC6, the highest ice class for passenger ships, making it possible to conduct expeditions far into Polar waters, with tropical destinations such as the South Seas and the Amazon.

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