Diamond S Shipping Inc. Comments on an Incident Involving One of Its Vessels
Diamond S Shipping Inc. announced the receipt of an incident report involving a kidnapping on one of its product tanker vessels, the Agisilaos, as it was approaching the port of Lome, Togo on November 29, 2020.
The vessel is managed and crewed by Capital Ship Management Corp. (‘Capital’) who informed Diamond S about the kidnapping of four crew members. The Company confirms that there were 22 seafarers aboard when the attack occurred. There have been no reports of injuries at this time. All appropriate authorities have been notified and Diamond S is fully supporting Capital as they respond to this situation. Diamond S will not comment further on these operational issues to avoid potentially jeopardizing the safety of the crew members being held or prolonging their stay in captivity.
TEN Ltd. Reports Successful Delivery of Four-Vessel Series With Long-Term Employment to Oil Major
TEN, Ltd. (TEN) (NYSE: TNP) (the “Company”) today reported the delivery of the last vessel in a four-series newbuilding program, consisting of two suezmaxes and two aframaxes in South Korea, with five-year contracts to an oil major. The minimum Time-Charter Equivalent (“TCE”) revenues expected from these four purpose-built vessels over their minimum five-year employment is $200 million. The Company continues its current growth program with the construction of two vessels in the specialized shipping sectors, namely DP2 shuttle tankers and LNG, both with long term employment.
“We are delighted to have successfully completed this latest phase of our growth program ahead of schedule and our congratulations go to the yard for their commitment and professionalism during these challenging times with the global pandemic. The caliber of the charterer along with the duration of the contract is a testament of TEN’s standing as a premier international energy transporter and highlights the Company’s long-established industrial model,” Mr. George Saroglou, Chief Operating Officer of TEN stated. “With one DP2 suezmax shuttle tanker and one LNG carrier still under construction, we are looking forward to further expanding TEN’s operational reach beyond conventional sectors and offer investors wider latitude on the fleet’s earnings generation capabilities,” Mr. Saroglou completed.
Globus Maritime Limited Announces the Acquisition of a 2015-Built Kamsarmax Dry Bulk Carrier, Expanding Fleet to Six Vessels
Globus Maritime Limited, a dry bulk shipping company, announced that it has entered into, through a separate wholly owned subsidiary, an agreement with an unaffiliated third party to purchase a 2015-built Kamsarmax vessel built by the Hudong-Zhonghua Shipbuilding shipyard, for $18.4 million.
The vessel is expected to be delivered to Globus during the fourth quarter of 2020.
On completion of this acquisition, the fleet of Globus will expand to six modern dry bulk carriers with a total carrying capacity of 381,738 deadweight tons and a weighted average age of 10.9 years (as of September 30, 2020).
Athanasios (“Thanos”) Feidakis, President and CEO of Globus, commented:
“We are very pleased to announce the agreement to purchase a modern vessel that will increase our fleet carrying capacity, lower the average age of the fleet and expand the company in a larger asset class.
We believe that this investment is a good asset in a market with promising prospects with a long operating life. We are thrilled to welcome the vessel in our fleet and operations.
We continue to view expansion opportunities and as the market moves towards healthier fundamentals we are carefully and continuously searching for vessels that fit our profile and operational needs.”
TOP Ships Inc. Announces Completion Of Atm And Conclusion Of Sale Of One Of Its 50% Owned Vessels
TOP Ships Inc., an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced that its 50% subsidiary, City of Athens Pte., concluded the previously announced sale of its 100% owned vessel, M/T Holmby Hills, and that the cash release to the Company amounts to $10.2 million.
Furthermore the Company expects to conclude the sale of its second 50% owned vessel (also previously announced) within the second week of April and depending on the exact date that the sale takes place and on prevailing USD Swap rates at the time of closing, the Company estimates that the cash release from that sale will also result in a cash release of about $10 million.
The Company also announced that on March 27, 2020 the Equity Distribution Agreement with Maxim Group LLC (the “ATM”) that the Company entered into on March 11, 2020 was completed.
TOP Ships Inc. Announces Agreement to Sell Its 50% Owned Vessels
TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced today that its 50% subsidiaries which own M/T Holmby Hills and M/T Palm Springs entered into agreements to sell both vessels to unaffiliated third parties. The vessel sales are subject to customary closing conditions and are anticipated to be concluded during March 2020.
Depending on when the closing of the sales take place and on prevailing USD Swap rates at the time of closing, the Company estimates that it will incur impairment charges ranging from $1.5 million to $3.5 million due to these sales (or losses per share ranging from $0.51 to $1.20) that will affect the year ended 2019 financial results and also estimates the cash release to the Company to range from $19 million to $21 million.
Safe Bulkers banks $53m from sale and leaseback of eight vessels
Greek dry bulk owner Safe Bulkers has entered into sale and leaseback agreements for eight vessels.
Safe Bulkers has sold the eight vessels, to an unnamed party, for $158.3m and will use the funds to refinance loan facilities worth $105.2m providing the company $53.1m in additional liquidity.
Two of the sold vessels were leased back under bareboat charters for a period of six years, while the other six vessels were leased back under bareboat charters for a period of eight years.
All of the vessels have purchase options included in their contracts, while four have purchase obligations at the end of the charter period.
Loukas Barmparis, president of Safe Bulkers, commented: “These recent financing arrangements have strengthened our liquidity position, which now exceeds $140 million, and provide us with financial flexibility to take advantage of opportunities that may arise.”
Additionally, the company also entered into a three-year unsecured revolving credit facility with a capacity of $15m.
Source: splash247.com