ABG Shipyard concludes German contract

ABG Shipyard Ltd has informed that the Company concludes the order for construction of 12 Handysize bulk carriers of 35000 DWT.

With this order, Company’s aggregate order book now stands at Rs 7121 Crores. The Company and Vogemann were in negotiations for some time through Ship Broking firm M/s Olivier Felter, Germany. This is one of the largest order bagged by ABC and first of its kind from a German Shipping Company. This order was signed on July 03, 2007 and financial closure got concluded now. M/s H Vogemann, established in Hamburg since 1886 currently controls a modern young drybulk fleet of 6 Capsize, 7 Panamax and 6 Handysize vessels and new building order placed on Namura Shipyard, Japan, GSI in China and now with ABG Shipyard in India.

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G E Shipping to sell its single hull Aframax

The Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell its 1988 built single hull Aframax tanker “Jag Labh”.

This Japanese built ship of 96,551 dwt was acquired in February 2005. The ship is scheduled for delivery to buyers in Q3 FY 2007-08. The decision to sell this ship is in line with the company’s overall strategy of reducing its presence in the non-double hull tanker fleet. The Company’s current fleet of 48 ships, aggregating 3.51 mn dwt has an average age of 11.8 years and comprises of 15 crude tankers, 19 product carriers, 2 LPG carriers and 12 dry bulk carriers.

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Feadship megayacht F-stream design unveiled

Feadship unveiled the newest member of the Feadstream family at the Monaco boat show, and received an overwhelmingly positive response.

The all-new concept for the 55-meter F-stream design was also the recipient of some serious enquiries by potential owners, who shared the vision of Studio De Voogt as to the where luxury yachting might be heading. The F-stream synthesizes the very latest developments in hull design, glass construction technology and aesthetics. Its hybrid propulsion package hints at a new age of comfortable power. Two diesel electric cycloidal propulsion-rudder systems offer dynamic positioning, silent cruising and efficient roll damping and – in passive mode – can also serve as rudders. The layout of the F-stream reflects how more and more owners are using yachts in the 21st century.

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