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NEWS BULLETIN
TANKER SHIPPING
its order for 98,000-m3 very large ethane carriers (VLECs) to 12, with six additional orders for 2022 delivery. It has extended its existing order of three vessels at each of Hyundai Heavy Industries and Samung Heavy Industries to five, while Tianjin Southwest Maritime will provide a further two under 15-year timecharters. These will be built at Jiangnan Shipyard in China. The first six orders were recently sold to MISC Bhd for $726m under a sale and leaseback deal and it is likely that the four new direct orders will seek similar arrangements. Satellite Petrochemical is the largest producer of acrylic acid in China and use the ships to transport ethane from the US to its new cracker in Lianyungang, due to open later this year. www.satlpec.com FIRST OF EIGHT FOR AURORA
STOLT SWOOPS FOR QUINTET
Stolt Tankers has agreed to acquire five chemical tankers from Chemical Transportation Group (CTG). The five, all of 26,000 dwt with some stainless steel tanks, were built in China in 2016/17 and will join the Stolt Tankers Joint Service. The acquisition is expected to close between December 2020 and February 2021; the terms of the deal have not been disclosed. “This acquisition is an excellent opportunity for Stolt Tankers to replace ships being retired in the next few years, lowering our fleet age profile with competitively priced ships that can trade in any of our deep-sea lanes,” says Lucas Vos, president of Stolt Tankers. “Newer, fuel-efficient ships help us reduce our carbon footprint while buying existing tonnage means capacity is not added to a market that doesn’t need it. In a cyclical industry like ours, buying the right ships at the right price is the path to financial sustainability. In the end, Stolt Tankers’ customers are the real winners in this deal, as these ships will support our proven platform that provides a high quality, reliable and flexible service offering.” www.stolt-nielsen.com
HCB MONTHLY | OCTOBER 2020
BIG ORDER FROM BAHRI
Bahri has ordered ten 49,999-dwt chemical tankers from Hyundai Mipo Dockyard (HMD) as part of its ongoing fleet expansion and renewal programme. Bahri says the new ships will be built to the highest environmental, fuel efficiency and safety standards in line with its commitment to operating responsibly. “As a company committed to contributing to Saudi Arabia’s maritime goals set out in Vision 2030, Bahri has always remained keen on the continual enhancement of its enormous fleet of state-of-the-art multi-purpose vessels,” says CEO Abdullah Aldubaikhi. “The new agreement with HMD for the building of 10 high-spec chemical tankers represents a major step forward in our next phase of growth and further strengthens our leading position in the global maritime industry.” The contract is worth $410m; deliveries are due to start in early 2022. HMD has already built more than 50 vessels of various types for Bahri. www.bahri.sa VLEC ORDER DOUBLES
Zhejiang Satellite Petrochemical has doubled
Aurora Tankers has launched Maritime Comity, the first of eight 49,000-dwt newbuildings at the CSSC yard in China. The zinc-coated IMO II tanker is fitted with an exhaust gas scrubber and nitrogen inert gas system to ensure longer life of the tank coating and easier cleaning. The design maximises cargo loads with low specific gravity and offers a shallow draft to maximise trading flexibility. Delivery of the remaining vessels in the series will run to the end of 2021. “Aurora Tankers’ first newbuilding in this series of eight supports our strategy of growth and will continue to improve our service offering to our customers. The series will be operated in our Aurora Tankers pool, strengthening our position as a leading IMO 2 MR operator,” says Frederik Guttormsen, senior director, shipping at IMC Industrial Group, parent company of Aurora Tankers. “We appreciate CSSC Shipping and their efforts in the completion of this first delivery during these challenging times caused by the Covid-19 pandemic. We are looking forward to further strengthening our partnership in the years ahead.” Imcindustrialgroup.com GOOD TIME FOR EXMAR
Exmar has reported revenues of $135.4m for the first half of 2020, up from $99.5m a year ago, with EBITDA up by 44 per cent at $69.7m. Higher depreciation and impairment
