UPDATE Scorpio Tankers, Bulkers go on Buying Binge Scorpio TankerS inc. and Scorpio Bulkers Inc. put out more than $1 billion on vessel acquisitions earlier this month. Scorpio Tankers awarded contracts for the construction of seven Very Large Crude Carriers (VLCCs) and entered into an agreement with an unaffiliated third party to issue shares in exchange for the transfer
of ownership to the company of four MR product tankers currently under construction in South Korea. Scorpio Tankers reached agreements with Daewoo Shipbuilding and Marine Engineering Co., Ltd and Hyundai Samho Heavy Industries for the construction of the seven VLCCs for a total price of $652.5 million. One vessel is scheduled for delivery in the third quarter of 2015, two in the fourth quarter of 2015, two in the first quarter of
2016 and two in the fourth quarter of 2016. Scorpio Tankers has also reached an agreement with an unaffiliated third party to issue shares in exchange for the transfer of ownership to the Company of four MR product tankers currently under construction in South Korea. The purchase price of the four vessels, in total, is about $154 million. One vessel is expected to be delivered in the third quarter of 2014 and the remaining three are expected to be delivered in the f irst quarter of 2015. These vessels are similar to the company’s newbuildings that are also under construction at the same shipyard. Mea nwh i le, Scor pio Bu l kers Inc. reported that it entered into agreements for the purchase of six Kamsarmax dry bulk vessels and two Ultramax dry bulk vessels. Two of the 82,000 dwt Kamsarmax vessels will be built by China’s Shanghai Waigaoqiao Shipbuilding and delivered in the second and third quarter 2014; the four remaining Kamsarmax vessels will be built by Jiangsu Yangzijiang Shipbuilding and delivered all in 2015; and the two U ltrama x 60,200 dw t dr y bulk vessels will be built at Mitsui Engineering and Shipbuilding with delivery expected during the third quarter of 2016. The total purchase price for the vessels is approximately $242 million.
Great Lakes Shipyard’s improves efficiency with new cutting machine
GreaT LakeS Shipyard, Cleveland, OH, has installed a new state-of-the-art Plate Pro Extreme 3100 plasma cutting machine. Made by Koike Aronson Inc./Ransome, the table is an automated dual side drive that provides speed, accuracy, versatility and durability in thermal cutting. The Plate Pro Extreme has the capability to burn plates up to six inches thick with a table capacity for plates of up to 10 ft wide by 20 ft long. The addition of the table will expand the shipyard’s range of services, improve t he e f f ic ie nc y of it s op e r at ion s a nd enhance the quality and precision of the work being produced. Hav i ng t he mach i ne i n-house a lso enables the shipyard to make its own parts without relying on any outside vendors or subcontractors. Great Lakes Shipyard’s current order book includes dr ydock ing a nd USCG inspection on the Miller Boat Line Ferry, M/V South Bass; and repairs on the U.S. Army Corp of Engineers tug Mike Donlon. 10 MARINE LOG December 2013