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Displaying items by tag: SecondHand tankers

#ArdmoreAquireTankers - Ardmore Shipping Corporation have acquisition two second-hand 47,500 Dwt MR product tankers built in 2008 at Onomichi Dockyard Co. Ltd., Japan for a purchase price of $23m each.

The vessels are expected to deliver to Ardmore between July and October 2014 and are intended to be employed either in the spot market or on time charters.

Upon delivery, Ardmore's fleet will stand at 24 vessels, with 14 in operation and 10 Eco-design product and chemical tanker newbuildings delivering by the fourth quarter of 2015. The next two newbuildings are scheduled to deliver in November 2014.

Anthony Gurnee, the Company's Chief Executive Officer, commented: "We are pleased to announce the acquisition of these modern MR product tankers at attractive prices. The vessels are Japanese-built and very fuel-efficient, in line with our strategy of acquiring high-quality MRs that we can upgrade to Eco-mod."

Mr. Gurnee continued, "The delivery of these vessels will expand our operating fleet and provide an immediate positive contribution to Ardmore's earnings. By continuing to supplement our newbuilding program with accretive acquisitions of modern, in-the-water vessels, we are capitalizing on the attractive, cash flow-generating opportunities that exist in the near term while also strengthening the Company's ability to benefit from the long-term fundamentals of the product and chemical tanker markets."

Only at the end of last month, Ardmore acquired another tanker for $36m, a 49,997dwt product and chemical vessel built to an Eco-design and from a South Korean yard.

 

Published in Ports & Shipping

The Half Ton Class was created by the Offshore Racing Council for boats within the racing band not exceeding 22'-0". The ORC decided that the rule should "....permit the development of seaworthy offshore racing yachts...The Council will endeavour to protect the majority of the existing IOR fleet from rapid obsolescence caused by ....developments which produce increased performance without corresponding changes in ratings..."

When first introduced the IOR rule was perfectly adequate for rating boats in existence at that time. However yacht designers naturally examined the rule to seize upon any advantage they could find, the most noticeable of which has been a reduction in displacement and a return to fractional rigs.

After 1993, when the IOR Mk.III rule reached it termination due to lack of people building new boats, the rule was replaced by the CHS (Channel) Handicap system which in turn developed into the IRC system now used.

The IRC handicap system operates by a secret formula which tries to develop boats which are 'Cruising type' of relatively heavy boats with good internal accommodation. It tends to penalise boats with excessive stability or excessive sail area.

Competitions

The most significant events for the Half Ton Class has been the annual Half Ton Cup which was sailed under the IOR rules until 1993. More recently this has been replaced with the Half Ton Classics Cup. The venue of the event moved from continent to continent with over-representation on French or British ports. In later years the event is held biennially. Initially, it was proposed to hold events in Ireland, Britain and France by rotation. However, it was the Belgians who took the ball and ran with it. The Class is now managed from Belgium. 

At A Glance – Half Ton Classics Cup Winners

  • 2017 – Kinsale – Swuzzlebubble – Phil Plumtree – Farr 1977
  • 2016 – Falmouth – Swuzzlebubble – Greg Peck – Farr 1977
  • 2015 – Nieuwport – Checkmate XV – David Cullen – Humphreys 1985
  • 2014 – St Quay Portrieux – Swuzzlebubble – Peter Morton – Farr 1977
  • 2013 – Boulogne – Checkmate XV – Nigel Biggs – Humphreys 1985
  • 2011 – Cowes – Chimp – Michael Kershaw – Berret 1978
  • 2009 – Nieuwpoort – Général Tapioca – Philippe Pilate – Berret 1978
  • 2007 – Dun Laoghaire – Henri-Lloyd Harmony – Nigel Biggs – Humphreys 1980~
  • 2005 – Dinard – Gingko – Patrick Lobrichon – Mauric 1968
  • 2003 – Nieuwpoort – Général Tapioca – Philippe Pilate – Berret 1978

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