Tuesday, November 23, 2010
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Diana Shipping Inc. Announces Delivery of the Post-Panamax Dry Bulk Carrier M/V Alcmene and Time Charter Contract for M/V Aliki
ATHENS, Greece, Nov 18, 2010 (GlobeNewswire via COMTEX) -- Diana Shipping Inc. /quotes/comstock/13*!dsx/quotes/nls/dsx (DSX 13.11, -0.05, -0.38%) , a global shipping transportation company specializing in dry bulk cargoes, announced that the Company has today taken delivery of the m/v "East Sunrise 88," renamed "Alcmene," a 93,193 dwt Post-Panamax dry bulk carrier built in 2010.
As previously announced, the Alcmene is chartered to Cargill International S.A., Geneva for a period of about twenty-three (23) to about twenty-five (25) months, at a gross charter rate of US$20,250 per day. The charter is expected to commence on November 20, 2010.
This employment is anticipated to generate approximately US$14 million of gross revenue for the minimum scheduled period of the charter.
The Company also announced today that it has entered into a time charter contract with Minmetals Logistics Group Co. Ltd., Beijing, for one of its Capesize dry bulk carriers, the m/v Aliki, at a gross charter rate of US$26,500 per day for a period of minimum fifty-nine (59) to maximum sixty-one (61) months. The charter is expected to commence in the beginning of March 2011. The m/v Aliki is a 180,235 dwt Capesize dry bulk carrier built in 2005.
This employment is anticipated to generate approximately US$47 million of gross revenue for the minimum scheduled period of the charter.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
For ship sale and purchase : www.worldships.co
As previously announced, the Alcmene is chartered to Cargill International S.A., Geneva for a period of about twenty-three (23) to about twenty-five (25) months, at a gross charter rate of US$20,250 per day. The charter is expected to commence on November 20, 2010.
This employment is anticipated to generate approximately US$14 million of gross revenue for the minimum scheduled period of the charter.
The Company also announced today that it has entered into a time charter contract with Minmetals Logistics Group Co. Ltd., Beijing, for one of its Capesize dry bulk carriers, the m/v Aliki, at a gross charter rate of US$26,500 per day for a period of minimum fifty-nine (59) to maximum sixty-one (61) months. The charter is expected to commence in the beginning of March 2011. The m/v Aliki is a 180,235 dwt Capesize dry bulk carrier built in 2005.
This employment is anticipated to generate approximately US$47 million of gross revenue for the minimum scheduled period of the charter.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
For ship sale and purchase : www.worldships.co
Shipping firms make profit from… selling ships
Shipping fee increases cannot help much
Production companies said that domestic shipping fees are now higher than international shipping fees. It is very difficult to find service providers at this moment, because the number of ships is limited, while the demand is increasing.
Forwarding companies have said the domestic shipping fee has increased by 10 percent in comparison with the last year, while it is expected to increase by 10-15 percent further in the high year-end season, though the volume of goods will not increase significantly. According to Dang Tan Phong, Director of SCM Vietnam, the volume goods going through the company has decreased by 5-8 percent over the previous year. The shipping fee increases are considered “reasonable”, because the crude oil price has climbed to over $80 per barrel in the world. However, Phong said domestic shipping firms still cannot meet the demands in service quality.
Experts say the current capacity of domestic shipping firms is sufficient to meet the domestic demand while they do not have to compete with foreign firms. In general, the shipping firms which exploit domestic routes have to exploit short-distance routes to Thailand or Singapore to use up all of their capacity.
However, some shipping firms said that the big disadvantage for domestic shipping firms is the inconsistency of the volumes of goods which depends on the seasons and weather. Therefore, though the shipping fees are high at certain times, they are not high enough to bring fat profits to shipping firms, and many domestic shipping firms have fallen into difficulties.
According to representative from Vosco, the expenses on sea transport are heavily dependent on the fuel prices. Meanwhile, the oil price has been increasing steadily in the world market.
There are nine container shipping firms which are providing services on domestic routes. Of these firms, Vinalines holds 40 percent of the market share, while the remaining market share is being held by Vosco, Bien Dong, Vinafco, Vinashin Lines and Gemadept. The enterprises have experienced an unprofitable year.
The financial report for the third quarter of 2010 of Saigon Maritime showed that the company incurred a net loss of 8.31 billion dong in the first nine months of the year. The third quarter alone witnessed the loss of two billion dong because of higher expenses. Meanwhile, Dong Do Maritime Joint stock Company said it incurred a pretax loss of 16 billion dong in the third quarter of the year.
In general, shipping firms now can only make modest profit from shipping services.
It’s more profitable to sell ships
According to the report by Vosco, the pretax profit of the enterprise reached 116 billion dong in the first nine months of the year. Of this amount, shipping services brought the turnover of nearly two trillion dong. Especially, the ship trading brought more than 97 billion dong.
Similarly, Vinaship got 31.1 billion dong in the first nine months of the year. The sale of three ships worth more than three million dollars were a major contribution to the company’s profit.
Vitranschart has said that the turnover in the third quarter of the company increased by 155 billion dong. Though the shipping fees increased significantly in comparison with 2009, the enterprise said that the profit is equal to 69.2 percent of that of the previous year, due to the increasing expenses. There has been no figure about the profit the company earned from the sale of a ship worth $2.8 million. However, it is clear that the sale has made a large contribution to the 12 billion dong profit of the company.
Thsi is an extract from http://english.vietnamnet.vn/en/business/1609/shipping-firms-make-profit-from--selling-ships.html
Production companies said that domestic shipping fees are now higher than international shipping fees. It is very difficult to find service providers at this moment, because the number of ships is limited, while the demand is increasing.
Forwarding companies have said the domestic shipping fee has increased by 10 percent in comparison with the last year, while it is expected to increase by 10-15 percent further in the high year-end season, though the volume of goods will not increase significantly. According to Dang Tan Phong, Director of SCM Vietnam, the volume goods going through the company has decreased by 5-8 percent over the previous year. The shipping fee increases are considered “reasonable”, because the crude oil price has climbed to over $80 per barrel in the world. However, Phong said domestic shipping firms still cannot meet the demands in service quality.
Experts say the current capacity of domestic shipping firms is sufficient to meet the domestic demand while they do not have to compete with foreign firms. In general, the shipping firms which exploit domestic routes have to exploit short-distance routes to Thailand or Singapore to use up all of their capacity.
However, some shipping firms said that the big disadvantage for domestic shipping firms is the inconsistency of the volumes of goods which depends on the seasons and weather. Therefore, though the shipping fees are high at certain times, they are not high enough to bring fat profits to shipping firms, and many domestic shipping firms have fallen into difficulties.
According to representative from Vosco, the expenses on sea transport are heavily dependent on the fuel prices. Meanwhile, the oil price has been increasing steadily in the world market.
There are nine container shipping firms which are providing services on domestic routes. Of these firms, Vinalines holds 40 percent of the market share, while the remaining market share is being held by Vosco, Bien Dong, Vinafco, Vinashin Lines and Gemadept. The enterprises have experienced an unprofitable year.
The financial report for the third quarter of 2010 of Saigon Maritime showed that the company incurred a net loss of 8.31 billion dong in the first nine months of the year. The third quarter alone witnessed the loss of two billion dong because of higher expenses. Meanwhile, Dong Do Maritime Joint stock Company said it incurred a pretax loss of 16 billion dong in the third quarter of the year.
In general, shipping firms now can only make modest profit from shipping services.
It’s more profitable to sell ships
According to the report by Vosco, the pretax profit of the enterprise reached 116 billion dong in the first nine months of the year. Of this amount, shipping services brought the turnover of nearly two trillion dong. Especially, the ship trading brought more than 97 billion dong.
Similarly, Vinaship got 31.1 billion dong in the first nine months of the year. The sale of three ships worth more than three million dollars were a major contribution to the company’s profit.
Vitranschart has said that the turnover in the third quarter of the company increased by 155 billion dong. Though the shipping fees increased significantly in comparison with 2009, the enterprise said that the profit is equal to 69.2 percent of that of the previous year, due to the increasing expenses. There has been no figure about the profit the company earned from the sale of a ship worth $2.8 million. However, it is clear that the sale has made a large contribution to the 12 billion dong profit of the company.
Thsi is an extract from http://english.vietnamnet.vn/en/business/1609/shipping-firms-make-profit-from--selling-ships.html
PNOC to raise P200-M from ship sale
MANILA, Philippines - State-owned Philippine National Oil Co. (PNOC) is bidding out two of the shipping vessels of its subsidiary, PNOC-Shipping Corp., to raise over P200 million.
In an invitation to bid, the shipping unit invited interested bidders for its petroleum product tankers: M/T Dr. Jose Rizal and M/T Gen. Antonio Luna with floor price of P113.2 million and P87.1 million, respectively.
Both are steel single-hull vessels with length of 91.03meters built in 2003 and 80.16 meters built in 1994, respectively. They are currently docked at the Limay port in Bataan province available for inspection from Nov 11 to 26, also the period when the bid documents are available to interested bidders, according to PNOC.
A pre-bidding conference will be held on Nov. 22. Bid proper is scheduled on Nov. 29, 2pm.
PNOC had been eyeing to sell its shipping subsidiary since 2006. Another privatization scheme that was looked into was the direct sale of the assets, with tankers as potential targets.
PNOC-Shipping Corp--which is engaged in shipping, tankering, lighterage, barging, towing, transport, and shipment of goods, chattels, petroleum and other products--maintains more than 4 tankers, 3 of which are owned and one chartered-in tanker with capacities from 23,000 to 30,000 barrels.
One of PSTC's clients is Petron Corp., the country's largest oil refiner that used to used to be a subsidiary of PNOC before the sale to diversifying giant San Miguel Corp and British investment firm Ashmore.
Aside from 2 vessels to be auctioned off, the other ships of PSTC are: M/T Andres Bonifacio, M/T General Miguel Malvar, and M/T Graciano Lopez Jaena
In an invitation to bid, the shipping unit invited interested bidders for its petroleum product tankers: M/T Dr. Jose Rizal and M/T Gen. Antonio Luna with floor price of P113.2 million and P87.1 million, respectively.
Both are steel single-hull vessels with length of 91.03meters built in 2003 and 80.16 meters built in 1994, respectively. They are currently docked at the Limay port in Bataan province available for inspection from Nov 11 to 26, also the period when the bid documents are available to interested bidders, according to PNOC.
A pre-bidding conference will be held on Nov. 22. Bid proper is scheduled on Nov. 29, 2pm.
PNOC had been eyeing to sell its shipping subsidiary since 2006. Another privatization scheme that was looked into was the direct sale of the assets, with tankers as potential targets.
PNOC-Shipping Corp--which is engaged in shipping, tankering, lighterage, barging, towing, transport, and shipment of goods, chattels, petroleum and other products--maintains more than 4 tankers, 3 of which are owned and one chartered-in tanker with capacities from 23,000 to 30,000 barrels.
One of PSTC's clients is Petron Corp., the country's largest oil refiner that used to used to be a subsidiary of PNOC before the sale to diversifying giant San Miguel Corp and British investment firm Ashmore.
Aside from 2 vessels to be auctioned off, the other ships of PSTC are: M/T Andres Bonifacio, M/T General Miguel Malvar, and M/T Graciano Lopez Jaena
Monday, November 22, 2010
Sunday, November 7, 2010
10800bhp AHTS for sale - 1997 built- Worldoils Oil, gas and offshore equipment marketplace
10800bhp AHTS for sale - 1997 built- Worldoils Oil, gas and offshore equipment marketplace: "Anchor handling tug supply vessel for sale"
Wednesday, November 3, 2010
Monday, November 1, 2010
LCT for sale - Landing Craft for sale - LCT type Cargo/RORO Ship - Built 1981 Rebuilt 2005- Worldoils Oil, gas and offshore equipment marketplace
LCT for sale - Landing Craft for sale - LCT type Cargo/RORO Ship - Built 1981 Rebuilt 2005- Worldoils Oil, gas and offshore equipment marketplace: "LCT type Cargo/RORO Ship for sale"
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