21

Stolt-Nielsen pays $575m to take over Jo Tankers’ chemical fleet

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Stolt-Nielsen has agreed to acquire the chemical tanker operations of Jo Tankers for $575m.

The transaction comprises 13 chemical tankers and a 50% share in a joint venture with eight chemical tanker newbuildings. The total purchase price is approximately $575.0 million.

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17

Greek owner commits suicide

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A well-known Greek shipowner shot himself dead over the weekend.

Kyriakos Mamidakis was found dead at his home near Athens yesterday with a gun by his side, local police said.

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17

Fredriksen pumps $275m into Frontline

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John Fredriksen has stumped up $275m of his own cash as a loan for Frontline for its newbuilding program in China.

Fredriksen’s family firm Hemen Holding is providing the loan, which will go towards eight ships being built in the People’s Republic.

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16

V. Group: ‘Shipmanagers more relevant than ever’

http://splash247.com

“Shipmanagers are more relevant than ever right now,” argues the head of the world’s largest shipmanagement company in an exclusive interview with Maritime CEO today.

Clive Richardson, ceo of V. Group, while notes there’s a focus among owners today on controlling vessel opex and avoiding operational delays, so that vessels earn maximum charter fees in what he describes as “thin trading conditions”.

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13

Bahri gets financing fixed for another 15 VLCCs

http://splash247.com

National Shipping Company of Saudi Arabia (Bahri) has teamed up with Arab Petroleum Investments Corp (APICORP) to launch a $1.5bn investment fund that could buy up to 15 VLCCs, putting the Saudi owner firmly at the top of the global VLCC ownership ranks.

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