Bahri Takes First of Four New Bulk Carriers
Saudi Arabian ship owner Bahri said it has taken delivery of the new Kamsarmax bulk carrier Sara, built by Hyundai Vietnam Shipbuilding (HVS), a subsidiary of Hyundai Mipo Dockyard Co. Ltd. (HMD).The 81,000 dwt vessel is the first in a series of four ordered by Bahri Dry Bulk from South Korea’s HMD in August 2017. The three remaining vessels are all scheduled to be delivered this year.The new ship will transport basic grains, such as wheat, barley, corn and other dry-bulk cargoes, for import into Saudi Arabia.The 229-meter newbuild increases the Bahri’s fleet of dry-bulk carriers to six ships.
HMD Confirms Evergreen Boxship Order
South Korean shipbuilder Hyundai Mipo Dockyard (HMD), a unit of Hyundai Heavy Industries (HHI), has confirmed the KRW 110 billion ($100m) newbuilding order for four units of 1,800 TEU container carriers from Taiwanese shipping line Evergreen Marine Corporation.The world's No. 1 shipbuilder specializing in medium-sized ships such as product/chemical tankers, car carriers, LPG & LNG carriers, and asphalt carriers, said that The vessels, each of which will have a length of 172 meters…
HHI Projects a Revenue of $15.9Bn in 2020
South Korean shipbuilder Hyundai Heavy Industries (HHI) Group, which includes the world's largest shipyard, aims for a revenue of USD 15.9 billion in 2020.Yonhap News Agency said the combined target of Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co. remains unchanged from last year’s goal.HHI said it aims to bag $8 billion worth of deals in 2020, according to the report.Hyundai Mipo Dockyard said in a regulatory filing that it aims to clinch deals worth $3.65 billion this year.In 2019…
TOP Ships Acquires 2 Scrubber Fitted Tankers
Greece-based international ship-owning company TOP Ships has acquired two ultra-high specification scrubber-fitted 50,000 dwt Medium Range (MR) product/chemical tankers under construction at Hyundai Mipo Dockyard Co., Ltd. in South Korea.The tanker owner stated in a press release that it has acquired 100% of the issued and outstanding shares of Santa Catalina Inc. and Santa Monica Inc., which are Marshall Islands companies that have originally entered into new building contracts for the two tankers.The MR tankers are scheduled for delivery during February 2020…
Burckhardt Supplies Laby Compressors for LNG Vessel
Swiss firm specialising in reciprocating compressors, Burckhardt Compression AG is outfitting a 30,000 m3 LNG carrier operated by Knutsen OAS Shipping AS with Laby compressors.The Laby compressors will be delivered to Hyundai Mipo Dockyard as part of the fuel gas supply system built by Wärtsilä Oil & Gas Solutions and will supply the LNG carrier’s WinGD X-DF 2-stroke, dual-fuel engine with LNG boil-off gas as fuel.The X-DF engine, a two-stroke engine from Winterthur Gas & Diesel…
DIS Annouces Sale and Leaseback of a MR Tanker
International marine transportation company operating in the product tanker market d’Amico International Shipping S.A. (DIS) said that its operating subsidiary d’Amico Tankers D.A.C. (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Trader.The 49,990 dwt medium-range (MR) product tanker vessel is built in 2015 by Hyundai-Mipo, South Korea was sold for a consideration of US$ 27.0 million.This transaction allows d’Amico Tankers to generate at the Vessel’s delivery around US$ 8.6 million in cash…
MacGregor Hatch Cover Sets for Eight Container Vessels at HMD
MacGregor, part of Cargotec, has secured orders from Hyundai Mipo Dockyard (HMD), in South Korea, to design and deliver complete hatch cover sets and container fixed fittings for eight 1,800 TEU container ships. The order is booked into Cargotec's third quarter 2018 order intake, and delivery of the equipment is planned during 2019."HMD and MacGregor have had a long and fruitful cooperation over many years. Our customer has selected key equipment, such as hatch covers and fixed fittings…
d’Amico International Sells, Leaseback MT High Loyalty
d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Loyalty, a 49,990 dwt medium-range product tanker vessel, built in 2015 by Hyundai-Mipo, South Korea for a consideration of US$ 28.5 million.Thistransaction allows d’Amico Tankersto generate at the Vessel’s delivery around US$ 13.3 million in cash…
d'Amico International Shipping Sells MT High Trust
Luxembourg-based d’Amico International Shipping announced that its operating subsidiary d’Amico Tankers signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Trust for a consideration of US$ 29.5 million. The marine transportation company operating in the product tanker market said that High Trust is a 49,990 dwt medium-range product tanker vessel, built in 2016 by Hyundai-Mipo, South Korea. Thistransaction allows d’Amico Tankersto generate at the vessel’s delivery around US$ 11.9 million in cash…
d'Amico International Shipping Sells Handy Vessel Cielo di Milano
d’Amico International Shipping nnounced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement for the sale of the MT Cielo di Milano, a 40,081 dwt handy product tanker vessel, built in 2003 by Shina Shipbuilding, South Korea for a consideration of US$ 8.025 million. This transaction allows d’Amico Tankers to generate around US$ 2.4 million in cash, net of commissions and reimbursement of the Vessel’s existing loan, contributing to the liquidity of the international marine transportation company operating in the product tanker market.
Capital Product Partners Adds Two Vessels, Sells One
Greece-based international diversified shipping partnership Capital Product Partners announced the completed acquisition of the M/T ‘Aristaios’, as well as the sale of the M/T ‘Aristotelis’ and the acquisition of the M/T ‘Anikitos’. On January 17, 2018, the Partnership acquired the eco-type crude tanker ‘Aristaios’ (113,689 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding Co. Ltd., South Korea) for a total consideration of $52.5 million from the Partnership’s sponsor, Capital Maritime & Trading.
Bahri Dry Bulk Secures Newbuild Finance
Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia. The fund is to finance the purchase of four new bulk carriers as part of an agreement signed by the company in 2017 with Hyundai Mipo Dockyard (HMD), a member of Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding company based in South Korea.
D'Amico Announces Sale & Lease Back of MR Vessel
D'Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Freedom, a 49,990 dwt medium-range product tanker vessel, built in 2014 by Hyundai-Mipo, South Korea for a consideration of US$ 28.0 million. D'Amico Tankers is an operating subsidiary of d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market. This transaction allows d’Amico Tankers to generate around US$ 13.4 million in cash…
d’Amico Sells Medium-Range Tanker
d’Amico International Shipping (DIS) announces that its operating subsidiary d’Amico Tankers signed a memorandum of agreement for the sale of MT High Presence, a 48,700 dwt medium-range product tanker vessel, built in 2005 by Imabari Shipbuilding (Japan) for a consideration of US$ 14.14 million. This transaction will generate at delivery of the Vessel a positive cash effect, net of the reimbursement of the Vessel’s existing bank loan, of around US$ 7.2 million for d’Amico Tankers, contributing to the liquidity required to complete DIS’ fleet renewal program.
TOP Ships Acquires MR Tanker
TOP Ships has acquired all of the outstanding shares of PCH77 Shipping Company Limited, a Marshall Islands company that owns a new building contract for M/T Eco California from an entity affiliated with the Company’s Chairman and Chief Executive Officer, Evangelos Pistiolis. Eco California is a high specification 50,000 dwt Medium Range (MR) product/chemical tanker under construction at Hyundai Mipo Dockyard Co., Ltd. in Korea. The Republic of The Marshall Islands incorporated Company paid $3.6 million for the outstanding shares and the vessel is scheduled for delivery during January 2019.
Korean Shipyards Bag $1.5bln Newbuild Order from MSC
Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - two major shipyards in South Korea - are poised to sign a deal worth $1.5 billion to build container ships for Mediterranean Shipping Company (MSC), according to the Financial Times. The report said that this deal is the latest signal that the South Korea’s troubled shipbuilding industry is showing signs of recovery, after large losses posted by both companies in recent years because of a lack of orders. MSC is working on an order for up to 11 container vessels, the report said.
Capital Product Bags 3 MR Charters
Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers. The M/T 'Amadeus' (50,108 dwt, IMO II/III Eco Chemical/Product Tanker built 2015, Samsung Heavy Industries (Nigbo) secured employment with Repsol Trading for one year (+/- 30 days) at a gross daily rate of $14,500. The charterer has the option to extend the time charter for an additional year (+/-30 days) at a gross daily rate of $14,750. The new charter will commence in October 2017.
d'Amico Tankers Updates Ship Sales and Purchases
In January 2017, d’Amico Tankers sold MT High Endurance and MT High Endeavour, two 46,992 dwt medium-range product tanker vessels, built in 2004 by STX, South Korea, to Sea World Tankers a client of Sea World Management SAM, for a consideration of US$ 13.5 million each. At the same time, d’Amico Tankers will maintain the commercial employment of the Vessels having also concluded with the Buyer a 4 years’ time-charter agreement at an attractive rate. In May 2017, d’Amico Tankers d.a.c.
Capital Product Partners Sings Pact for $460 Mln Refinancing
Capital Product Partners entered into a firm offer letter for a senior secured term loan facility of up to $460.0 million with HSH Nordbank AG and ING Bank as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece S.A. as arrangers. The lenders also include Alpha Bank S.A., Piraeus Bank S.A. and Skandinaviska Enskilda Banken AB (Publ). The closing of the credit facility is subject to finalization of the long form loan documentation. "We intend to use the net proceeds of the loans under the New Facility…
d’Amico Delays Delivery of LR1 Tankers
Tanker shipping company d’Amico Tankers agreed with Hyundai Mipo Dockyard Co.Ltd. – South Korea to postpone the delivery of its first newbuilding LR1 (Long Range – 75,000 dwt)from April 2017 to October 2017. This agreement follows a specific request of an oil major and a key customer of the Company, which will take the vessel on a 18 month TC contract upon her delivery from Hyundai Vinashin Shipyard Co. Ltd. – Vietnam. At the same time, the estimated delivery dates of the remaining 5 LR1s under construction at Hyundai Vinashin Shipyard Co. Ltd.
Hyundai Heavy Affiliate Aims to Sell Stake in Brokerage Unit
South Korean shipbuilder Hyundai Heavy Industries said on Wednesday that its affiliate aims to sell its brokerage unit Hi Investment & Securities by the end of this year. The affiliate, Hyundai Mipo Dockyard, holds an 85 percent stake in Hi Investment & Securities. In June, Hyundai Heavy Industries announced a plan to sell its non-core assets, as the shipbuilder is grappling with a global slump in trade and commodities, plus rising competition from China. (Reporting by Hyunjoo Jin; Editing by Gopakumar Warrier)
MAN's ME-GI Engine for LNG-powered Bulker
Korean shipowner ILSHIN and HMD (Hyundai Mipo Dockyard Co., Ltd.) have signed a shipbuilding contract for a 50,000 dwt bulk carrier. Notably, the vessel will be powered by an MAN B&W 6G50ME-C9.5-GI engine, to be built by HHI-EMD who will also supply the ME-GI and fuel gas supply system. POSCO, the multinational steel-making company headquartered in Pohang, South Korea, has already agreed to charter the newbuilding upon delivery, and will use the vessel to transport limestone for its operations.
Iran Strikes $2.4bn Ship Order with Korea
Iran has placed orders worth around $2.4 billion with South Korean shipyards for the construction of ships to carry Iran’s oil and petrochemical products, The Wall Street Journal says. The orders have been placed by the Islamic Republic of Iran Shipping Lines (IRISL) and the oil producer Iranian Offshore Oil Company (IOOC). The Korean companies involved in the case are Hyundai Mipo Dockyard, which is a subsidiary of shipbuilding giant Hyundai Heavy Industries Group, as well as Daewoo Shipbuilding and Marine Engineering Company.
Sonatrach Orders LPG Vessel from China
Algeria’s state-run oil company Sonatrach has awarded two Chinese firms a $40 million deal to deliver a liquefied petroleum gas (LPG) carrier and an option to provide a second vessel, according to a Sonatrach document seen by Reuters. Sonatrach's Hyproc Shipping Company chose Chinese consortium Jiangnan Shipyard and China Shipbuilding Trading Company Ltd for the provision of a carrier with a capacity of between 11,000 and 13,000 m3, the document said. It said an offer from Hyundai Mipo Dockyard, a South Korean consortium, had been rejected.
First Methanol-fueled Tanker Launched
Launched at the Hyundai Mipo dockyard in Ulsan, South Korea, the newly built Lindanger is the world’s first methanol fueled ocean-going vessel. The ship is the first of two dual-fueled 50,000 dwt tankers owned by Norwegian firm Westfal-Larsen that will be chartered to global marine transportation company Waterfront Shipping. With a MAN designed Hyundai–B&W 6G50ME-9.3 ME-LGI dual-fuel, two-stroke engine on board, the Lindanger can run on methanol, fuel oil, marine diesel oil or gasoil.
HHI Shows Smarter Way to Shipbuilding at KOMARINE 2015
Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder and a leading integrated heavy industries company, announced today it teams up with its shipbuilding affiliates, Hyundai Mipo Dockyard (HMD) and Hyundai Samho Heavy Industries (HSHI), to participate in KOMARINE 2015, a major maritime international exhibition from October 20 to 23 at Hall 3, Booth 3F05, BEXCO, Busan in South Korea. In the biennial event where about 1,200 companies from 40 countries are expected to participate…