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Ocean Freight Carriers of Chemicals Make a Deal
One ocean freight carriers loss is another's gain as recently it was announced Remi Maritime has decided to cut-its-losses in the ocean freight carrier sector, a bit. Remi Maritime is a Greek-owned shipowner that first made a splash in the ocean freight transport of chemicals in 2006, with orders for 19 new chemical ocean tankers that started hitting the water in 2008 and 2009.
The waters that Remi Maritime found itself trying to navigate its way across the chemical tanker sector became rough for Remi Maritime in 2010 though and since this time Remi Maritime has found it necessary to make a few course changes as it tries to navigate its way onto the ocean trade lanes and to its ultimate destination in the century of the environment.

US-listed shipowner Navios appears to be the ocean freight carrier that's gaining the most in the deal between Remi Maritime and Navios. Navios is purchasing nine contracts for new ocean freight carrier chemical tankers from Remi Maritime, for a reported $457.7 million that will see 11 product tankers and 2 chemical tankers added to the fleet of Navios. Navios also might have an option for 2 more ocean freight carriers, but this has yet to be confirmed.

There could be an undercurrent or two hidden beneath the waters that Navios is traveling under during this deal as sources indicate that there could be a bank in the middle of this deal between Navios and Remi Maritime. A bank that just had a white knight of a sorts in the form of Navios ride in and save the day, in a way. There have been a few suggestions thrown around the ocean freight carrier industry that the bank in question could be Deutsche Schiffsbank, but this has yet to be confirmed.

Reports around the ocean freight shipping industry have Navios paying around $30 million each for vessels that according to sources were ordered at prices that were over $50 million each. Sources also indicate that this deal might have been a good one for Navios, since reports have the bank in this case covering around 73 percent of the financing of this deal. This is particularly attractive from the point of view of Navios because normally it might be hard to find a bank willing to advance more than 50 percent on a loan for product tankers in the current market for chemical freight shipments. 73 percent means that the bank is taking the majority of the financial risk in this deal and according to many close to this deal the bank terms offered by the bank may have been rather favourable for Navios.
Posted on 25 Oct 2010 by Momentum
Rough Seas Over for World's Ocean Freight Carriers
There are certainly professionals in the ocean freight carrier industry that think the worst of the rough financial seas is over for the world's transporters of crude oil. There are also those in the ocean freight carrier industry that think the rough financial seas have just subsided, while the tradewinds continue to blow and ocean freight movements of crude oil continues to grow.

There have certainly been signs of red skies on the horizon for the world's ocean freight carriers of crude oil in regions like Singapore and China. Demand for crude oil also appears to be rising around the world in time with the price for crude oil and exploration for new sources to feed the world's demand for oil.

In the freight shipping forums around the ocean freight shipping industry professionals and interested individuals have stated that they think the worst of the rough financial seas appears to be past and at present freight rates have been increasing. These people haven't been to Singapore and other regions of the world where ports are overflowing in many cases with ocean freight vessels of all sizes and types, which according to many professionals in the ocean freight shipping business would seem to contradict the beliefs of those who see red skies on the horizon in the century of the environment for the ocean freight shipping industry. Add to this the estimated 782 new ocean freight carrying vessels of crude oil and their support vessels that will be added to the world's fleet of crude oil transporters in 2010 and it might be a few months, before we see the freight rates continue to rise? This could happen in the fourth quarter of 2010, according to many professionals in the ocean freight shipping industry, which means the new fleet probably isn't going to pay to many dividends for shipowners, until sometime after 2011 and beyond.
Posted on 22 Oct 2010 by Momentum

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