Deals this week: Wartsila, GoodBulk, Adani Ports

3 November 2017 (Last Updated November 3rd, 2017 10:38)

Wärtsilä has secured a contract from the Faroese Government to supply a silent propulsion package for a new research vessel.

Wärtsilä has secured a contract from the Faroese Government to supply a silent propulsion package for a new research vessel.

The deal will see the company provide silent diesel generator sets, which are DNV Silent R notation-compliant and designed to reduce underwater radiated noise (URN).

Wärtsilä will also deliver a fixed-pitch propeller and a complete propeller shaft line as part of the arrangement, as well as electrical and automation (E&A) systems.

Additionally, the contract also covers the supply of a selective catalytic reduction (SCR) system, which will be used to clean the engine exhaust of nitrogen oxide (NOx) emissions.

The new 54m-long vessel is set to be used by the Faroe Islands Marine Research Institute for the exploitation of marine resources.

It is currently under development at the MEST shipyard and will be powered by two eight-cylinder Wärtsilä 20 engines.

“GoodBulk has entered an agreement with entities managed by CarVal Investors to purchase between seven and 13 Capesize dry bulk carriers.”

The vessel operations are expected to commence in mid-2020.

Monaco-based dry bulk vessel owner and operator GoodBulk has entered an agreement with entities managed by CarVal Investors to purchase between seven and 13 Capesize dry bulk carriers.

CarVal Investors will be paid 10.5 million GoodBulk shares for the first consignment of seven vessels. The deal also includes an option for six additional carriers.

The acquisition of the dry bulk carriers is expected to be funded with a total of $61m of existing borrowings under both new and existing GoodBulk credit facilities.

GoodBulk will have control over a fleet of 19 ships upon completion of the transaction by the first quarter of 2018, including 16 Capesize, one Panamax and two Supramax vessels.

India-based port operator Adani Ports has raised Rs16bn ($246.08m) through the private placement of 16,000 non-convertible debentures (NCD) at a face value of one million per NCD.