Thursday, October 18, 2007

Diana Shipping acquires two Capesize Dry Bulk Carriers

Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, today announced that it has signed two Memoranda of Agreement with unaffiliated third parties for the purchase of two Capesize dry bulk carriers.


The carriers MV ''Thalassini Niki'' and MV ''Thalassini Kyra'' will be renamed MV ''Salt Lake City'' and MV ''Norfolk'' respectively. The ''Thalassini Niki'' is a 2005 built Capesize vessel of 171,810 dwt and latter a 2002 built Capesize vessel of 164,218 dwt. The agreed-upon prices for the two are US$140 million and US$135 million, respectively. The Thalassini Niki is chartered as of September 28, 2007 to Refined Success Ltd., guaranteed by Cosco (H.K) Shipping Co Ltd. for a period of 59 to 61 months, at a daily rate of US$55,800 less 5% commission. Thalassini Niki is expected to be delivered to the company on or about November 30, 2007. The employment of both vessels is anticipated to generate approximately US$225 million of gross revenues for the minimum scheduled period of the charters.


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Cruise ship boom under way

Not less than 30 new vessels will debut across the globe in the next five years and many of today's major cruise lines - big and small - are also refurbishing their fleets and expanding via the acquisition route to meet today's growing demand.


Some, like Azamara Cruises (owned by Royal Caribbean), are defining a new cruise niche altogether. The new line caters to the deluxe cruise market - the country-club set which, until now, has been the exclusive domain of yet another relative newcomer: Oceania Cruises. Royal Caribbean not only unveiled the world's largest passenger vessels two years in a row - the 2006 launch of Freedom of the Seas was and Liberty of the Seas this year, but they've also poured millions into the refurbishment of their existing fleet. Not to be outdone, the world's most popular cruise line, Carnival, unveiled a new vessel earlier this year - Carnival Freedom - and is poised to debut yet another mega-liner, Carnival Splendor, by summer of 2008. Other cruise brands owned and operated under Carnival's broad umbrella - Princess, Holland America, Costa and Seabourn - are also building new ships to debut in the years ahead.


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Bharati Shipyard plans JV

Bharati Shipyard reportedly plans to set up a modern shipbuilding yard along India's eastern coast in a 50:50 joint venture with Apeejay Shipping, according to local media reports.


The proposed shipyard, expected to start operations in 2009, would build ships and also be a ship repairing business. India's shipbuilding industry is expected to touch the $20 billion milestone by 2020.


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Wednesday, October 17, 2007

Havila Shipping ASA to build platform supply vessel

Havila Shipping ASA has through Havila Shipping Pte Ltd in Singapore entered into a contract with Fjellstrand Verft for building of a platformsupply vessel (PSV) called Havyard 832 CD.


The vessel is developed by Havyard Maritime in close cooperation with Havila Shipping ASA. The vessel has a length of 80,4 m, breath of 17,6m and 805m deck-area. In order to meet environmental and comfort demands in the future the vessel has clean design class, catalysers and DP 2. Delivery of the vessel will be during autumn 2009, and the contract price is approx NOK 260 mill.


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Safe Boats wins surf boat contract

Safe Boats International won a contract from the USCG Office of Boat Forces in Washington, DC to build two self-righting 42-ft. Archangel Class vessels.


Designated by the USCG and the Department of Homeland Security as the Special Purpose Craft– Near Shore Lifeboat, the NLB is 100 percent designed and manufactured in the US by SBI at the Port Orchard. The USCG plans to operate the NLB in varying sea and weather conditions along the entire coast of the U.S. and use it as a fast response and utility boat. The first vessel is due to be delivered to the USCG National Motor Lifeboat School in Ilwaco, WA in mid February, 2008. The second vessel will be berthed at the USCG Station in Chatham, MA by mid March, 2008.


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Dolphin export set to go ahead

The controversial export of live dolphins from the Solomon Islands to Dubai is all set to go ahead after a judge dismissed an environmental group's legal bid to stop the shipment.


The application for an injunction preventing the air shipment this week of 28 olphins was rejected in the High Court in Honiara, environmental campaigner Lawrence Makili said. But he warned that if the export, to a Dubai marine park, went ahead Solomons tuna products would be boycotted by tuna buyers around the world. The dolphin shipment has been organized by Canadian Chris Porter who operates a dolphin park on the island of Gavutu, near Honiara.


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Tatas, IOC, OIL to jointly bid for Azerbaijan oil field

Tatas have joined hands with state refiner Indian Oil and exploration firm Oil India Ltd to consider bidding for acquiring Caspian Energy Group LLP's (CEG) interest in an Azerbaijan oil field.


Tata Petrodyne Ltd, a wholly-owned subsidiary of Tata Sons, has joined the IOC-OIL combine to make a bid to buy CEG's 51 per cent stake in the Shivran Oil Operating Company that runs the Kyurovdag oil field in Azerbaijan. The company is the vehicle for Tata Group's foray into the oil and natural gas industry.


ONGC-Mittal Energy Ltd (OMEL), the joint venture of ONGC Videsh Ltd and steel baron Lakshmi N Mittal's group, had in May made a 300 million dollar bid for the stake but the deal was cancelled after the reports of the bid appeared in the media. The remaining 49 per cent stake in Shivran Oil Operating Company is held by State Oil Company of Azerbaijan Republic (SOCAR).


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