Suezmax Tanker on Auction in Singapore

Suezmax crude oil tanker Ambassador, which was arrested on January 19 in Singapore waters, has been put up for auction, according to Supreme Court of Singapore’s data. 

The court’s data shows that the closing date for bids for the 153,000 dwt vessel is April 12, 2017.

The net value of bunkers on board Ambassador is SGD 46,299 (USD 33,184). This price is excluded from the sale and has to be paid by the purchaser. According to the court, the amount payable cannot be negotiated.

Built by South Korean shipbuilder Hyundai Heavy Industries (HHI) in 1997, Ambassador features a length of 269 meters and a width of 49 meters.

Market value of the tanker, which flies the flag of Saint Kitts and Nevis, currently stands at USD 8.43 million, according to information provided by VesselsValue.

As of March 30, 2017, Ambassador’s AIS data shows it is anchored in Singapore area.

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DFDS Strengthens Ties with Port of Ghent

Danish shipping and logistics company DFDS has signed a strategic partnership with Belgium-based Ghent Port Company as the shipping firm aims to strengthen its position in the port of Ghent.

Namely, DFDS has decided to increase the number of ro/ro freight sailings between Ghent and Gothenburg and strengthen its hinterland anchoring by transporting containers in a fixed schedule three times per week aboard inland vessels in the direction of Antwerp and Rotterdam.

Utilizing three ships, DFDS is currently offering six sailings a week on its freight route between Ghent and Gothenburg. During the summer of 2017, the company will add its vessel Ark Germania as the fourth ship on the route, increasing the number of weekly departures from six to eight.

In 2016, the Ghent-Gothenburg service, which also calls at Brevik in Norway once a week, catered for the transport of 2.1 million tonnes of goods, the second highest volume ever.

Furthermore, DFDS is expanding its activities in Ghent port with a fixed schedule of three sailings per week for containers on inland vessels. The barges are loaded at the multimodal terminal located at the Mercatordok. From there, a regular container line will be set up between Ghent and the ports of Zeeland Seaports, Rotterdam and Antwerp.

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Fincantieri Ends Vard Offer at 74 Pct

Fincantieri Oil & Gas, a subsidiary of the Italian shipbuilding conglomerate Fincantieri, has closed its offer for the ordinary shares of Vard Holdings Limited with valid acceptances for 74.45% of Vard’s share capital.

The voluntary conditional general offer, which was launched in November 2016 in Singapore, closed on March 24 with acceptances for over 215.9 million offer shares.

The company said that it is paying SGD 53.3 million (USD 38.2 million) for the shares acquired through the Singapore Stock Exchange.

Fincantieri earlier informed that its aim was to acquire the remaining 44.37% of the Vard share capital not already held by Fincantieri O&G, which is equal to over 523.5 million shares.

The price per share offered to the minority shareholders was initially SGD 0.24 for a maximum consideration of SGD 125.6 million in case of full acceptance. In January 2017, Fincantieri was asked to revise its offer as the minority shareholders of Vard said that there was room for improvement on the price, Securities Investors Association (Singapore) informed.

Listed on the Singapore Stock Exchange, Vard is one of the largest shipbuilders of offshore and specialized vessels, with nine shipyards in Norway, Romania, Brazil and Vietnam

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