Return of the DIS

As arranger, Cleaves Marine Finance AS is in the process of marketing the equity for Seacor Grant DIS, a silent partnership that will purchase the Seacor Grant, a 2008 built AHTS/ROV support vessel from Seacor Marine for $35 million. The vessel is chartered to a subsidiary of Sonangol, the national oil company of Angola, for 4 years at a rate of $31,770 net per day.
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Stena Finds Paradise

Stena Bulk announced today the acquisition of a 35% equity stake in the privately held Greek shipping company Paradise Tankers Holding Corp. The acquisition, which has total share capital valued at an estimated $250 million, provides Stena Bulk with full commercial control of three newly built Panamax tankers and two dry cargo bulk carriers which are on long-term charters.

The tankers are modern epoxy-coated Panamax tankers of 73,500 DWT all of which will be withdrawn from the Star Tankers Pool and will immediately enter the Stena Sonangol Panamax Pool. The pool is a direct spin-off from the successful collaboration with Angola’s national oil company Sonangol involving a fifteen tanker Suezmax pool which Stena and Sonangol have been operating for five years.