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New Bulkers: COSCO order bulkers
Tuesday, 13 May 2014 00:00

The Chinese-flagged Ju Da is a 73,603dwt bulk carrier built in 2005 that is currently part of the COSCO fleet, although she is operated by Shanghai Ocean Shipping Co of Shanghai. COSCO have recently ordered four larger and four smaller bulk carriers to update their fleet. Brian CowburnThe Chinese-flagged Ju Da is a 73,603dwt bulk carrier built in 2005 that is currently part of the COSCO fleet, although she is operated by Shanghai Ocean Shipping Co of Shanghai. COSCO have recently ordered four larger and four smaller bulk carriers to update their fleet. Brian CowburnOn 20 March China Ocean Shipping  (COSCO) announced that it had ordered eight new bulk carriers via its investment company Prosperity Investment 2011 Ltd. The order comprises four 40,000dwt ships and four 180,000dwt Capesize vessels which work out at aggregate prices of US$99.2 million and US$212.8 million respectively.

The ships will be built at Tianjin Xingang Shipbuilding Heavy Industry, a member of the China Shipbuilding Corporation (CSIC). COSCO stated that the reason for the order is to upgrade bulk carriers in the Group and improve the competitiveness of its fleet as a whole. Deliveries of the new vessels are expected to be made in 2015 and 2016. RC

 
Tankers: Into Canada
Tuesday, 06 May 2014 00:00

The jointly-owned 228m by 32m product tanker Stena Poseidon is one of two ships recently acquired by Transport Maritime St-Laurent Inc.The jointly-owned 228m by 32m product tanker Stena Poseidon is one of two ships recently acquired by Transport Maritime St-Laurent Inc.Concordia Maritime and Neste Oil have sold their jointly-owned Ice Class 1A Manamax tankers Stena Poseidon and Palva to Canada’s Transport Maritime St-Laurent Inc, a joint venture formed by Groupe Desgagnés of Montreal and the Canadian division of Valero, the world’s largest independent refiner and marketer of petroleum products. The two 75,000dwt ships, built in 2007, will move crude oil from Valero’s Montreal East Terminal to its refinery at Quebec City. Although of 500,000 barrel capacity, the twin tankers will be limited to about 350,000 barrels while navigating the St Lawrence. JS

 
New Bulkers: Fuel-efficient bulkers
Thursday, 24 April 2014 11:16

Developed by China’s Sinopacific and Japan’s Mitsubishi, the fuel-efficient CROWN MHI 82 bulker has been ordered by Shandong Bohi Industry Co. SinopacificDeveloped by China’s Sinopacific and Japan’s Mitsubishi, the fuel-efficient CROWN MHI 82 bulker has been ordered by Shandong Bohi Industry Co. SinopacificChina’s Shandong Bohi Industry Co, Ltd, a major trader in cereals and oils, has ordered two 82,000dwt CROWN MHI 82 bulk carriers from compatriot Sinopacific Shipbuilding Group, with options for two more. The next-generation ships, which have been developed in partnership with Japan’s Mitsubishi Heavy Industries, will be built by Sinopacific’s associated Yangzhou Dayang Shipbuilding Company under NK Class and will be delivered starting from the second half of 2016. Representing an enhanced and larger version  of the earlier CROWN 58 and CROWN 63 series bulk carriers, the new ships are expected to have a fuel consumption of only 26.6 tons per day.

 
Port news: Tyneside cargo record
Tuesday, 15 April 2014 00:00

The Netherlands flag coaster Eems Chrystal (2006/2,443dwt) is one of an increasing number of short-sea vessels berthing on the Tyne. Roy CresseyThe Netherlands flag coaster Eems Chrystal (2006/2,443dwt) is one of an increasing number of short-sea vessels berthing on the Tyne. Roy CresseyThe Port of Tyne handled a total of 8.1 million tonnes of cargo in 2013, its highest volume of cargo in 50 years, according to figures issued in February. This represented a 22 per cent increase on the previous year, with coal and wood pellet imports bringing in five million tonnes and one million tonnes respectively.

The only downside in the Port’s figures was that the number of imported vehicles handled through its three car terminals did dip slightly over the year compared to previously, but this was due to a fall-off in demand in the UK. In total, 8.1 million tonnes of cargo was handled on the Tyne during 2013, the largest volume since 1965.

A total of 625,000 passengers – a rise of four per cent – travelled through the port’s International Passenger Terminal at North Shields, including 64,000 passengers from the 32 cruise ships that visited the port, as well as the DFDS ferries that run daily to Amsterdam. RC

 
Container Ships: Not all ships make money
Tuesday, 08 April 2014 00:00

The 1996-built container ship APL Spinel has fetched only $9.65 million from shipbreakers after having been acquired two years ago by Greece’s Diana Containerships for $30 million. Mark MulliganThe 1996-built container ship APL Spinel has fetched only $9.65 million from shipbreakers after having been acquired two years ago by Greece’s Diana Containerships for $30 million. Mark MulliganAs newer and more efficient container ships enter service, older and less efficient vessels are being displaced, one such being the 1996-built Spinel (ex-APL Spinel), which has been sold for scrap by Diana Containerships of Greece.

Although the 18-year-old ship brought in $9.65 million from breakers, she had been purchased from APL by Diana for $30 million under a sale-lease back deal less than two years ago. It is thought that the Greek company suffered a loss of nearly $10.5 million on the transaction after figuring in the ship’s daily gross charter rate of $24,750 over a near two-year period.

Diana had previously sold three other ships following their redelivery from sale-lease-back agreements – Maersk Madrid, Maersk Malacca and Maersk Merlion – all of which have since gone for scrap, and at an estimated loss of nearly $37 million for Diana. JS

 
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