Procopiou flatly denies talk of$500m suezmax deal in China
Dynacom principal throws cold water on the rumoured order at New Times for up to eight tankers but admits to pondering potential LNG newbuildings
George Procopiou
George Procopiou, head of leading Greek operator Dynacom, is trashing reports that his company is close to booking up to eight suezmax newbuildings worth close to $500m at China’s New Times Shipbuilding.
“That’s completely wrong,” Procopiou told TradeWinds. “We’re not doing anything like that.”
He says his group is considering newbuildings in the LNG sector but that it is premature to talk about anything firm as yet.
Dynagas, the group’s LNG management company, has a fleet of eight LNG carriers in the water and a further two slated for delivery in early 2015. All the ships have been built by Hyundai Heavy Industries (HHI) and Procopiou conceded that this was the yard being approached.
The owner’s statements put in severe doubt reports that Dynacom intends to book four firm ships, plus options of two plus two, with Jingjiang-based New Times.
Sources had suggested the 160,000-dwt crude oil tankers would cost Dynacom less than $60m each, with New Times slated to deliver the firm vessels between late 2016 and 2017.
An official at New Times declines to confirm Dynacom’s order but says a few shipping companies are in serious discussions with the yard for suezmaxes. However, the identity of those owners remains undisclosed.
“Our berths are filling up fast, with some of the vessels lined up for 2018 delivery,” said the official.
Dynacom is very familiar with New Times, where it previously ordered suezmaxes, VLCCs, capesize bulkers and kamsarmaxes. The last time the Greek owner booked newbuildings at New Times was four years ago when it was reported to have ordered up to four VLCCs worth $400m.
But according to the database of London broker Clarksons, the yard only delivered two ships — the 300,000-dwt Boston (built 2012) and Dalian (built 2013). They are also the only VLCCs New Times has ever built.
Better known for its involvement in tankers, bulkers and LNG carriers, Dynacom was listed as having a pair of 6,600-teu containerships under construction at Jiangsu Rongsheng Heavy Industries.
The two wide-beam, high-specification boxships were booked in mid-2011 at below $70m each. The vessels were initially scheduled for delivery in 2013 and 2014 but Clarksons’s database lists delivery dates as 2015. According to Internet Ships Register, the contracts were cancelled before construction.
source:www.tradewindsnews.com
