This increases the order to four firm vessels with the shipyards. Furthermore, Stream Tankers has options to increase the order to up to six vessels, the company said.
The newbuildings will be of the new Fukuoka/Shitanoe eco-design hulls and combined with modern efficient engines will give substantial fuel reductions, Stream claimed. Delivery will of the firm vessels will be in 2015 and 2016, respectively.
Navig8 Chemical Tankers, a joint venture between Navig8 Group and Oaktree Capital Management, has ordered six 25,000 dwt chemical tanker at Kitanihon Shipbuilding, also in Japan.
The tankers will be of 150 m in length, 25 m beam and 15.3 m in depth and due for delivery in 2016 and 2017.
“The company has identified an opportunity in current historic low prices for modern design ships with favourable fuel economics, a relatively modest orderbook and a positive outlook in the sector,” said Atle Sebjornsen, managing director of Navig8 Chemical Tankers.
Norwegian fertiliser concern Yara International has ordered three ammonia carriers from Hyundai Mipo Dockyard at a cost of $51 mill each, the company confirmed this week.
The three 20,600 cu m, semi-refrigerated LPG carriers will replace existing time chartered vessels, covering part of the firm's long-term transport requirement.
"Yara is in discussions with potential partners for combined ship management and equity participation, however Yara aims to retain majority ownership in the vessels. Going forward, Yara will continue to evaluate vessel ownership versus time charter on a case-by-case basis, relative to prevailing market conditions," the company said in a release.
In the S&P sector, Scorpio has confirmed the sale of the two LR1s – ‘Noemi’ and ‘Senatore’ – to Eletson for $44 en bloc. The sales are expected to close in March and April this year.
For its part, Eletson Holdings put out a statement saying that it had entered, through subsidiaries, into definitive agreements to acquire three 2004-built LR1s for $66.3 mill in total.
The expected delivery dates of the vessels are end January 2014, end March 2014 and early April 2014. These acquisitions were funded by proceeds from the company’s recent 9.625% First Preferred Ship Mortgage Notes and own funds, Eletson said.
Peter Kanelos, Eletson Corp CFO, commented: "This acquisition is consistent with our strategy of fleet expansion in what we believe is an opportune time in the product tanker cycle. With our proven business model delivering best in class operating metrics, we are confident these units will make a positive contribution to our cashflow while serving our blue chip customers."
United Arab Chemical Carriers (UACC) was thought to have purchased two 2010-built products tankers in separate deals for a total of $57 mill.
Brokers in Athens reported that UACC paid $28 mill for the 47,400 dwt ‘Ocean Leo’ and a further $29 mill for the 47,300 dwt ‘Zapphire’.
Other sales reported recently include BW Maritime’s 2000-built VLCC ‘BW Nysa’ believed sold for $32 mill to as yet unknown interests, possibly for a conversion project.
The 2002-built Suezmax ‘Elisewin’ was thought sold to Greek interests for $23 mill and Greek interests were also said to be behind the purchase of the 2006-built Aframax ‘Seamaster’ for $24 mill.
An Indian company- Seven Islands Shipping- purchased the 1993-built MR ‘Theresa Crystal’ for $8 mill. She was renamed ‘Oaktree’.
In the charter market, Shell was said to have fixed the Geden Line sister Aframaxes ‘Avor’ and ‘Spike’ for 12 months each at an ‘index-linked’ rate. Another Aframax, ‘SN Olivia’, also built in 2010, was reported as fixed to D’Amico for 12 months at $14,500 per day with an option for a further 12 months at $16,000 per day.
Concordia Maritime has chartered the P-MAX ‘Stena Paris’ to Total. She will trade on one of the French oil major’s routes from Southeast Asia to Polynesia. She had previously been chartered to Total between 2005 and 2012. The new charter is for one year with an option on a 12-month extension. No rate was revealed.
As part of the agreement, her sister ‘Stena Progress’, which was also on charter to Total, will now be redelivered on mutually agreed terms. This vessel is currently sailing for Stena Weco on the open market that is continuing to develop favourably, Concordia said.
According to brokers’ reports, Repsol was active in the MR market extending three vessels for a further 12 months at $14,500 per day. These were the ‘Freja Pegasus’, ‘Sunshine Express’ and ‘Queen Express’.
Golden Crown was said to have fixed the 2010-built MR ‘Marios G’ for 12 months at a firm $15,150 per day, while ST Shipping was believed to have taken the 2007-built MR ‘DL Cosmos’ for $13,250 per day.
NORDEN was thought to have chartered the 2009-built ‘Atlantic Muse’ for 12 months at $14,700 per day, with an option for a further 12 months. Shell was said to have fixed the 2009-built MR ‘Lichtenstein’ for 180 days at $13,250, while Gulf Asia was said to have taken the 2008-built MR ‘Siteam Voyage’ for a period charter at $15,500 per day.
Scorpio has confirmed that the MR HMD newbuildings ‘STI Duchessa’ and ‘STI Opera’ have been fixed for 120 days at a lucrative $19,000 per day each.
Finally, leaving the fleet was the 1995-built Aframax ‘Genmar Minotaur’ said to have been committed to unknown breakers for $460 per ldt on the basis of ‘as is’ Singapore with 750 tonnes of bunkers ROB.
In addition, the Chinese controlled Panamax ‘Bin Hai No 1’ was said to have been sold to Bangladesh breakers for $445 per ldt and another Chinese controlled tanker, the 1995-built MR ‘Yan Shui Hu’ was believed sold to Chinese breakers for $355 per ldt.