Acquire Two News

Dutch offshore survey firm Fugro has reached an agreement to acquire two platform supply vessels (PSVs), Sea Goldcrest and Sea Gull, which will be converted to geotechnical vessels to address the needs of growing offshore wind sector.The addition of the Sea Goldcrest and Sea Gull, built in 2019 and 2020 respectively, to its owned fleet will further strengthen Fugro’s ability to address the market demands and shortage in geotechnical capable vessels, the company said.With the purchase of these strategic assets Fugro will operate a balanced fleet of owned and chartered vessels…

The U.S. Department of Transportation’s Federal Transit Administration (FTA) on Thursday announced grants totaling $220.2 million from President Biden’s Bipartisan Infrastructure Law to modernize the nation’s ferry systems. The program focuses in part on expanding ferry service in rural communities, helping communities acquire modern ferry boats (including electric boats that reduce carbon pollution), and upgrading shore infrastructure to support high-quality, low-emission ferry service.“For many communities around the U.S.…

South Korea's Hanwha Ocean has pitched offers to build submarines to Canada, the Philippines, and Poland, a company official said on Wednesday, as the country pushes to become one of the world's top four defense exporters.Canada is studying potential builders for new submarines and has expressed interest in Hanwha Ocean among other foreign rivals, Kim Seung-min, leader of Hanwha Ocean's naval and special ship overseas marketing team, told Reuters in an interview, without naming the competitors."We are now checking on our shoelaces at the start line before the race kicks off…

Samudera Shipping Line announced it has entered into deals to acquire two containerships from "unrelated third parties" for an aggregate acquisition price of approximately $59.9 millionThe new vessels, each with a capacity of 1,500 TEUs, are expected to be delivered in the second half of the year, the company said.Samudera said it entered into the deals on June 7 and that the acquisition will not constitute as a “transaction” for the purpose of Chapter 10 of the SGX-ST Listing…

Not every vessel in the U.S. Navy is built for major combat operations on the high seas. There are large numbers of boats and service craft that provide essential services to the sea services, the nation and its partners.The U.S. Navy procures about 100 small boats per year. Some of these boats are based on commercial designs, procured to a Navy developed specification that tailors the requirements to the end user needs. They are procured and managed by two Naval Sea Systems Command program offices—PMS 300 and PMS 325.Compared to warships and auxiliaries…

CMA CGM, one of the world's largest container shipping lines, said on Tuesday that it has agreed to acquire two container terminals at the port of New York and New Jersey from Global Container Terminals (GCT), which will extend its presence in a crucial hub for trade.The deal comes after French-based CMA CGM last month said it expects a pullback in shipping markets to accelerate in the fourth quarter due to high energy prices and flagging consumer spending, resulting a drop in its profitability following an earnings surge in the past year.Terms of the deal were not disclosed.

Britain will acquire two specialist ships to protect underwater infrastructure such as cables and pipelines, defence minister Ben Wallace said on Sunday, following leaks in the Nord Stream gas pipelines from Russia to Europe.European countries say the Nord Stream pipelines were damaged by "sabotage" but have stopped short of blaming Moscow. Russian President Vladimir Putin has blamed Western countries.Speaking at the Conservative Party conference in Birmingham, central England…

Belships said Tuesday it has entered into agreements to acquire two secondhand Ultramax bulk carriers.The two ships, which were built at Japanese shipyards in 2015 and 2017, are currently financed through time charter lease agreements with purchase options "significantly below current market levels", according to Belships.The Oslo-based shipowner said it will pay a total of $15.5 million as downpayment upon delivery of the vessels, which is expected within July 2022. The company said it intends to declare purchase options for both bulkers during the next few months and refinancing to cover the purchase option amounts.Lars Christian Skarsgård…

ADNOC Logistics & Services, UAE-based oil firm ADNOC's shipping and maritime logistics arm, said Thursday it would order three new liquefied natural gas (LNG) carriers. "ADNOC L&S is the region’s largest shipping and integrated logistics company and the state-of-the-art new-build vessels will bolster the company’s capacity as it responds to the growing global demand for LNG," ADNOC L&S said.The new-build LNG vessels, each with a capacity of 175,000m3, are significantly larger than the current ADNOC L&S fleet which have a capacity of 137,000m3 each.

The U.S. Department of Transportation’s Maritime Administration (MARAD) awarded $12.6 million in grants to nine marine highway projects across the Nation under the America’s Marine Highway Program (AMHP). The funding will help address supply chain disruptions, enhance the movement of goods along our navigable waterways, and expand existing waterborne freight services in Delaware, Hawaii, Indiana, Kentucky, Louisiana, North Carolina, New York, New Jersey, Tennessee, Texas, and Virginia.“These investments through the America’s Marine Highway Program will help us move more goods…

Dry bulk shipping company Genco Shipping & Trading Limited announced on Wednesday that it has entered into agreements to acquire two 2022-built 61,000 dwt Ultramax vessels to be constructed at Dalian Cosco KHI Ship Engineering Co. Ltd. (DACKS). The vessels are expected to be delivered to Genco in January 2022.The purchases mark the fifth and sixth high specification, fuel-efficient Ultramax vessels that Genco has agreed to acquire since December 2020, doubling its core Ultramax presence over that time, the company said in a statement.Genco CEO, John C. Wobensmith, said, “This latest acquisition continues the expansion of our fleet at an attractive point in the dry bulk cycle as asset values continue to trail the strong freight rate environment leading to attractive returns on capital.

Seaspan Corporation said on Monday it has acquire two 8,500 TEU scrubber-fitted containerships as the  Atlas Corp. subsidiary continues to grow its fleet amid strong market demand. The scrubber-fitted vessels are are on long-term charter with a global liner customer, and they are expected to be delivered during the second quarter of 2021, Seaspan said. The pair will be financed from additional borrowings as well as cash on hand.Seaspan chairman, president and CEO, Bing Chen, said…

Offshore seismic survey contractors PGS and Shearwater GeoServices have been awarded framework agreements with Equinor for 4D towed streamer seismic acquisition on the Norwegian continental shelf (NCS) in what Equinor said was a new way of working with seismic contractors.The agreements have a total estimated value of around NOK 700 million (~USD 82,7 million).“This is a new way of working with seismic suppliers. We are moving away from annual tenders towards a more long-term collaboration model.

Belgian tanker operator Euronav said it has reached a deal to acquire two Suezmax tankers currently under construction at the Daehan Shipyard in South Korea for a total purchase price of $113 million. Both vessels are due for delivery in January 2022.The vessels are the latest generation of Suezmax Eco-type tankers, fitted with exhaust gas scrubbers and ballast water treatment systems. The vessels have LNG-ready notation, and Euronav said it is working with the shipyard to obtain ammonia-ready notation…

Dutch marine contractor Boskalis on Monday acquired all the shares of Rever Offshore’s subsea services business.Rever, formerly known as Bibby Offshore, provides solutions in the area of subsea construction, inspection, repair, and maintenance. The company has operated in the North Sea out of Aberdeen, United Kingdom.Through this transaction, Boskalis will acquire two diving support vessels of which one is fully owned (Rever Polaris) and a second chartered (Rever Topaz). The group employs an onshore staff of around 130 in addition to approximately 220 offshore workers.

UK-based containership owner Global Ship Lease (GSL) has agreed to acquire two 2004-built, 6,080 TEU Post-Panamax containerships for an aggregate purchase price of $24.5 million and with charters in place to a leading liner operator for minimum 52 months to  maximum 60 months.The vessels, which have bows optimized for fuel efficiency at lower operating speeds, are scheduled for delivery by the end of this year.The vessels are expected to generate aggregate Adjusted EBITDA of approximately $21 million over the term of the contracted charters, assuming the median expiry dates. With these additions, GSL fleet will comprise 45 vessels with a total capacity of 249…

Greek shipping company Okeanis Eco Tankers (OET) intends to exercise an option to acquire two ECO scrubber-fitted Suezmax tankers under construction at South Korean Hyundai Samho Heavy Industries.Okeanis will spend almost $130m to buy the two 158,000 dwt scrubber-fitted vessels from its chief executive Ioannis Alafouzos' private company.As Suezmax values have risen and newbuilding delivery timelines extended into 2021 in the period since its granting, the option is presently well in-the-money and accretive to NAV.In addition, with the recent dramatic firming of the tanker spot and time charter markets and the availability of low cost…

The world's largest oil tanker shipping company Frontline Ltd has declined options to buy four more tankers from Trafigura Marine Logistics (TML) and said that it will keep to buying only 10 tankers.Last month, the Bermuda based company announced an agreement with TML  to acquire ten Suezmax tankers, with two separate options to acquire two plus two additional Suezmax tankers.The options were part of a deal reached between the two companies last month to acquire ten Suezmax tankers built in 2019 through the acquisition of a TML special purpose vehicle which holds the vessels.Frontline has elected not to exercise the first option to acquire two additional Suezmax tankers.

Frontline, the world's largest oil tanker shipping company, and Trafigura Maritime Logistics (TML) have agreed to extend an option for Frontline to acquire two Chinese-built suezmax tankers.The first option to acquire two Suezmax tankers expires on 12 September 2019. Frontline and TML have agreed to extend the expiry date for the first option to 18 September 2019. TML is a wholly-owned subsidiary of Trafigura Pte Ltd, the multinational commodity trading company.The options are part of a deal reached between the two companies last month to acquire ten Suezmax tankers built in 2019 through the acquisition of a TML special purpose vehicle which holds the vessels.As part of the Acquisition…

Greek shipping company Okeanis Eco Tankers (OET) has taken delivery of Nissos Donoussa, a very large crude carrier (VLCC) newbuild.The Alafouzos family-owned firm said that Nissos Donoussa has commenced trading in the spot market.The 319,000 dwt ship has been delivered by South Korean shipbuilder Hyundai Heavy Industries (HHI).In April 2019, OET was granted an option by the Alafouzos family to acquire two Suezmax newbuilding vessels to be constructed at Hyundai Heavy Industries with expected delivery dates in the third quarter of 2020.The option secures a right for the tanker company, at no cost, to acquire the vessels at the Alafouzos family’s contract price.In May 2019…

The provider of shipping transportation services through its ownership of containerships, Performance Shipping Inc.(PSI) announced that it has agreed to acquire two entities, which have signed contracts to purchase two 2011-built Aframax tanker vessels from an unaffiliated third party seller for a total purchase price of US$60.0 million.The transaction was unanimously approved by the disinterested members of the board of directors, said a press release from the Greece-based company.PSI will acquire the two entities affiliated with its Chairman and Chief Executive Officer, Symeon Palios, for an aggregate purchase price of US$10.0 million…

Danish roro ship operator DFDS secured a contract from Swedish paper producer Stora Enso to transport 700,000 tons of paper annually on a new route between Gothenburg, Sweden and Zeebrugge,BelgiumDFDS will acquire two freight ferries for the route, said the release. The new route will be operated by three freight ferries. Two freight ferries - Slingeborg and Schieborg - will be acquired from third party owners for DKK 270m.In addition, one freight ferry will be transferred from DFDS' existing route between Gothenburg and Ghent that currently deploys four freight ferries. The significant increase in departure frequency between Sweden and Belgium will enhance customer services and support the growth of our customers.The route is expected to begin operating mid June…

The international provider of marine transportation of dry bulk commodities Scorpio Bulkers has once again sold vessels with two new sale and lease back agreements.This time the sale concerns two Ultramax vessels - SBI Libra and SBI Virgo - to an unaffiliated third party.Upon completion, which is estimated to take place in the second quarter of 2019, the Company’s liquidity is expected to increase by up to $17.0 million in aggregate, comprising $14.0 million upon closing after the repayment of outstanding debt and an additional tranche of up to $3.0 million for installation of exhaust gas cleaning systems (scrubbers) on both vessels.As part of the agreements…