MRs in the limelight again

Jun 13 2014


Cosco Dalian Ocean has placed an order for three MRs at Guangzhou Shipyard International (GSI), according to its website.

No other details were revealed.

As this newsletter went to press, rumours were circulating that Parakou could be about to order up to 12 MRs, but no details were available.

Navig8 Product Tankers has confirmed that it has secured financing for the first eight LR2 newbuildings currently under construction at Sungdong and GSI.

The Loan facility covers about 65% of the contract price of the vessels and the facility is offered by a group of European banks (DVB Bank, BNP Paribas, Swedbank, Credit Agricole Corp and Investment Bank plus NIBC Bank).

The loan facility secures the financing of all the company’s LR2s scheduled to deliver in 2015. It remains subject to final documentation, Navig8 said.

Broking sources have reported that StealthGas has ordered two, plus two optional 22,000 cu m LPG carriers at Hyundai Mipo for $52 mill with deliveries in 2017.

Harry Vafias told ‘Tanker Operator’ that since StealthGas is a worldwide leader in the small LPG segment, the company is also thinking about adding more larger gas ships. However, the deal is not finalised, he stressed.

In the S&P sector, the two Suezmaxes purchased by Nordic American Tankers (NAT), mentioned in last week’s news, have been identified as Enterprises Shipping’s 2005-built sisters ‘Energy Skier’ and ‘Energy Sprinter’. They were sold to NAT for $36.5 mill each. 

Ardmore has continued its buying spree by snapping up the NYK controlled, 2008-built sister MRs ‘Atlantic Innovator’ and ‘Pacific Innovator’ for $23 mill each.

The company said that the vessels are expected to be delivered to Ardmore between July and October 2014 and are intended to be employed either in the spot market, or on timecharters.

Upon delivery, Ardmore's fleet will stand at 24 vessels, with 14 in operation and 10 Eco-design product and chemical tanker newbuildings delivering by the fourth quarter of 2015. The next two newbuildings are scheduled to deliver in November 2014.

Anthony Gurnee, the company's CEO, commented: "We are pleased to announce the acquisition of these modern MR product tankers at attractive prices. The vessels are Japanese-built and very fuel-efficient, in line with our strategy of acquiring high-quality MRs that we can upgrade to Eco-mod."

Other sales reported include two Aframaxes to Zodiac. They were the 2007-built ‘Forward Bright’ and the 2011-built ‘Pacific Poppy’. No price was revealed.

The 2011-built VLCC ‘Fortune Elephant’ was said to have been sold by a Court to Greek interests for $77.5 mill. 

Thought to be leaving the fleet were the 1992 VLCC ‘New Valor’, reported sold to Chinese breakers for $338 per ldt and the 1987-built 84,000 dwt products tanker ’Bateel’ thought sold to Indian breakers for an unknown price.

In the charter market, the LR1 ‘Gulf Crystal’ was said to have been fixed to BP for 12 months at $15,250 per day.

Vitol was reported to have fixed the 2009-built MR ‘Electa’ for 12 months at $14,500 per day, while MTMM was believed to have taken the 2014-built MR ‘Pyxis Epsilon’ for 12-24 months at $17,050 per day and Trafigura was said to have chartered the 2004-built MR ‘Ardmore Seafarer’ for seven months for $14,250 per day.

Finally, Vitol was believed to have fixed the 2009-built Handysize sisters ‘Futura’ and ‘Magnifica’ for 12 months for $13,500 per day each.  



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June 2020

low carbon strategy - digital tanker market models - battery explosions - better catering onboard - challenges of ballast installations