International Seaways Wraps Up Acquisition of 6 Euronav VLCCs(marine crane manufacturer;offshore crane manufacturer)

- Jun 15, 2018-

shaah-shahidh-557310-unsplash-1-667x500.jpgThe ships have been bought for USD 434 million, inclusive of assumed debt, the company said. The six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding.

International Seaways financed the acquisitionwith the assumption of USD 311 million of debt secured by the six vessels under a China Export & Credit Insurance Corporation (Sinosure) facility funded by The Export-Import Bank of China, Bank of China (New York Branch) and Citibank, N.A., and with available liquidity.

“The acquisition of these (…) sister ships underscores our success in executing on our stated strategy of growing and renewing International Seaways’ fleet during a low point of the cycle,” Lois K. Zabrocky, International Seaways’ President and CEO, explained.

“Since completing our spinoff in December 2016, we have grown our fleet 23% on a deadweight ton basis and reduced the fleet’s average age by close to three years (…) Importantly, INSW has maintained our strong balance sheet with net loan to value at our target of 50%,” Zabrocky added.

“Our logo is a lighthouse, a beacon of safety (…) Each of the ships acquired since our formation is named after a lighthouse: Montauk, Hatteras and Raffles. These six ships are expected to be named after lighthouses as well: Seaways Liberty, Seaways Hendricks, Seaways Diamond Head, Seaways Cape Henry, Seaways Triton, and Seaways Tybee,” he informed.

With the completion of the VLCC acquisition, International Seaways owns and operates a fleet of 55 vessels. Through joint ventures, it also has ownership interests in four LNG carriers and two floating storage and offloading service vessels.

(marine crane manufacturer;offshore crane manufacturer)


Product DescriptionOUCO-3T30M-Telescopic-Boom-Marine-Crane.jpg

OUCO Marine/Offshore 3T30M Telescopic boom crane is mainly used on the deck of bulk carrier or overload barge for handling a variety of cargo bulks.
It has several hoisting points to fit the demand of vessel usage, which are 3T30M, 30T6M, makes the crane with long outreach to complete the lifting job.
Service system: Engineers available to service machinery overseas.

Product Feature

1.Easy maintenance at all situation;
2.Self contained unit with integrated hydraulic power pack.
3.Fail-safe brakes on all movements.
4.Fully enclosed and equipped operator cabin with air condition.
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6.Technology from Germany.
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8.Suitable for all kinds of ships and low power consumption and high efficiency.
9.Welded and high strength box boom for easy maintenance.
10.With Many safety protection devices---hook up limiter and overload limiter, emergency stop button.


(marine crane manufacturer;offshore crane manufacturer)