Brave Maritime Corp Takes Delivery Of Gas Newbuilds And Acquires Additional Bulkers
Brave maritime corp. has taken delivery of four new state of the art 40,000 cbm AMMONIA carries from Hyundai shipyard in south Korea! (eco merlin / eco wizard/ eco oracle/ eco sorcerer). The vessels represent the new generation of gas carriers with super-efficient engines and comprise all the latest environmental features.
According to vessels values, these ships were ordered for 46mill apiece and now are worth in excess of 70mill each , a very astute move from nicholas vafias!!! In addition the group has on order 3 more new generation gas carriers, one more 40k cbm sistership in HMD for q1 2024 and two more 11k cbm vessels under construction in Japan one to be delivered in 2025 and one in 2026.
Over the last 18 months Brave maritime has acquired an astonishing 32 ships comprising of 7 lpg nb’s, 10 tankers (4 suezmax, 1 aframax and 5 product tankers) and 15 bulkers (8 capes, 1 supramax,2 kamsarmax and 3 handies)!
Unreported were the two kamsarmaxes the ECO CZAR and ECO SIKOUSIS built both in oshima japan 2009 and 2008 respectively.
According to brokers reports these were bought for region 31m enbloc!! After the recent acqusitions and vessel deliveries the group comprises of 91 vessels, 40 gas carriers, 25 bulkers and 26 tankers both crude and clean.
Star Bulk to Buy Eleven Bulkers from Delphin Shipping
Greek shipping company Star Bulk Carriers has entered into an en bloc definitive agreement to purchase eleven dry bulk vessels from entities controlled by Delphin Shipping.
The units, that were built by Jiangsu Hantong between 2012 and 2014, would be acquired for an aggregate purchase price of USD 139.5 million, payable in the form of USD 80 million in cash and 4.503 million common shares of Star Bulk.
The company said it also secured exhaust gas cleaning systems for all of the vessels “with attractive delivery dates”.
The cash portion would be financed through proceeds of a new seven-year capital lease of up to USD 93.6 million with China Merchants Bank Leasing, and an additional tranche of USD 15 million for financing of scrubbers, thus offering around USD 9 million of additional liquidity for Star Bulk.
Expected to be finalized in June 2019, the acquisition remains subject to the execution of definitive finance agreements and customary closing conditions.
The technical management of the 11 vessels, featuring from 56,600 to 63,100 dwt, would remain with an entity affiliated with Technomar, while commercial management will be taken over by Star Bulk.
If concluded, the transaction would increase Star Bulk’s fleet to 120 vessels.
Source: worldmaritimenews