Page 16: of Maritime Reporter Magazine (July 2005)

16 Maritime Reporter & Engineering News

CMB Continues Fleet

Rejuvenation

CMB confirmed that its subsidiary,

Bocimar and Wah Kwong, have sold the

Panamax vessel Yasmine Venture (2006 - 73,546 dwt) - ordered in joint venture in 2003 from Jiangnan (China) - to

Diana Shipping. The net sale price amounts to $39.6 million. Also,

Bocimar and Oak Maritime have con- cluded an agreement with Chang Myung

Shipping (Korea) for the sale of the joint venture vessel Mineral Oak (1996 - 165,693 dwt). The net sale price is $45.3 million. For CMB, this sale will gener- ate a capital gain of approximately $11.5 million, also expected for the third quar- ter. Finally, Bocimar has ordered a 177,000 dwt capesize vessel from SWS (Shanghai Waigaoqiao Shipyard -

China). The purchase price amounts to $60 million and the delivery will take place in the fourth quarter of 2009.

Navantia Starts Work on 8 Patrol Boats

The General Commander of the

Bolivarian Republic of Venezuela,

Admiral Armando Laguna, and the pres- ident of Navantia, Juan Pedro Gómez

Jaén have signed in the facilities of

Navantia in San Fernando and Puerto

Real, the start of the construction works of eight patrol boats for Venezuela.

The order includes four oceanic patrol boats for vigilance of the economic exclusive zone, and four patrol boats for vigilance of the coast, designed both by

Navantia for defense missions of the

Venezuela sea and coasts. Construction be at the de San Fernando-Puerto Real shipyard.

Odfjell Expands Fleet

Odfjell bought M/T Giada D from

Italian owners. The vessel was built in 1996 at Chantiere Navale de Poli, Italy and is 10,115 dwt with stainless steel cargo tanks. The change of ownership will take place in 3Q 2006. Also, Odfjell entered into a long-term time-charter agreement with purchase option for a vessel of 33.000 dwt with stainless steel cargo tanks. The ship will be built at

Kitanihon Shipyard, Japan, and will be owned by Yuyo Steamship Co. Ltd.,

Japan. Delivery of the newbuilding will be 3rd Quarter 2009.

Aker Yards Delivers

Missile Boat

A missile boat in the Hamina class - dubbed Pori and the last in the series of four built at Aker Yards, Rauma - was delivered to the Finnish Navy. The four vessels form the Navy's new Squadron 2000. The previous ones called Hamina,

Tornio and Hanko were delivered in 1998, 2003 and 2005. The aluminum vessel measures 167.3 x 27.9 ft. (51 x 8.5 m) with a 5.8 ft. (1.7 m) draft and a displacement of 236 tons. Aluminum and lightweight composite materials are used in the superstructure. The propul- sion system is two water jets, which give the vessel a speed of more than 30 knots.

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