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Cardiff swaps bulkers for suezmax tankers in China ( Trickey George drys, but this is private coCardiff swaps bulkers for suezmax tankers in China02 October 2015, 00:00 GMT George Economou’s private company, Cardiff Marine, has switched two newcastlemax bulker newbuildings into crude oil tankers and has booked a third suezmax. Reliable sources close to the company confirm that the Greek owner has managed to get Shanghai Waiqaoqiao Shipbuilding (SWS) to flip two of the four 208,000-dwt bulkers that it has on order there into suezmaxes. The company is now listed with suezmax Hull Nos 1392, 1393 and 1394. One of the ships will be delivered next year and the other two in 2017. The change in ship type took place some time ago but was never reported. Cardiff is understood to be paying SWS the difference between the price of a suezmax and a newcastlemax for the change but there were no additional amounts related to the swap. The company was said to have shelled out less than $55m apiece for the newcastlemaxes, whereas SWS is now seeking in excess of $60m for a suezmax newbuilding. The switch marks Cardiff’s third such exercise this year. Previously it swapped two newcastlemaxes for a pair of 11,000-teu boxships at Yangzijiang Shipbuilding and converted a drillship into four aframax and two suezmax tankers at Samsung Heavy Industries (SHI). TMS Tankers, Economou’s tanker operating arm, currently counts seven suezmaxes in the water and now has a further five on order. Its website lists 22 aframax tankers in the water as well as the four newbuildings at SHI and three VLCCs. |
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Msg # | Subject | Author | Recs | Date Posted |
11001 | Re: Cardiff swaps bulkers for suezmax tankers in China ( Trickey George drys, but this is private co | hb17050 | 1 | 10/4/2015 8:26:42 PM |