Tomini Shipping

UAE-based Shaikh-family controlled shipowner and operator Tomini Shipping sold 2016 built panamax bulk carrier 76K DWT MV Tomini Integrity for around $33 million to Spring Valley Shipping Management. Tomini Shipping acquired MV Tomini Integrity for around $20 million in July 2020. UAE-based shipowner and operator Tomini Shipping has made a sound profit from the sale of MV Tomini Integrity. Spring Valley Shipping Management has renamed MV Tomini Integrity as MV Annegrit. Japan built at panamax bulk carrier 76K DWT MV Annegrit (ex MV Tomini Integrity) is equipped with a BWTS (Ballast Water Treatment System). Tow Ling Low-backed Spring Valley Shipping Management has a sister company Pacific Rim Shipmanagement. Some of the bulk carriers of Singapore-based Spring Valley Shipping Management were formerly controlled by Pacific Rim Shipmanagement and Royal Marine. Like Spring Valley Shipping Management, Pacific Rim Shipmanagement also seems to be building its bulk carrier fleet. In March 2022, Tow Ling Low-backed Pacific Rim Shipmanagement acquired three (3) ultramax bulk carriers from Dampskibsselskabet Norden A/S. Dubai-based Tomini Shipping is controlled by the Shaikh family. Tomini Shipping has been active in the S&P (Sale and Purchase) market in 2022. In March 2022, UAE-based Shaikh-family controlled shipowner and operator Tomini Shipping acquired 2016 built handysize bulk carrier 39K DWT MV InterLink Audacity, 2016 built handysize bulk carrier 39K DWT MV InterLink Affinity, 2016 built handysize bulk carrier 39K DWT MV InterLink Tenacity, and 2016 built handysize bulk carrier 39K DWT MV InterLink Utility for approximately $102 million en bloc. Tomini Shipping acquired these four (4) handysize bulk carriers from Interlink Maritime. 21-May-2022

 

UAE-based shipowner and operator Tomini Shipping acquired 2015 built kamsarmax bulk carrier 81K DWT MV Tomini Bravery (ex MV Dansas) for around $29 million. Tomini Shipping is listed in Oslo OTC (Over-the-Counter) market. Recently, Tomini Shipping received delivery of new building 2021 built kamsarmax bulk carrier 81K DWT MV omini Royalty from Taizhou Kouan Shipbuilding. Numair Shaikh-led Tomini Shipping is positive about the dry bulk market growth. Tomini Shipping aims for a diverse fleet to meet charterers’ requirements. Tomini Shipping focuses on supramax and kamsarmax bulk carriers. Currently, UAE-based shipowner and operator Tomini Shipping owns and operates 17 bulk carriers. 13-October-2021

 

UAE-based shipowner and operator Tomini Shipping has canceled the kamsarmax new-building contracts at Taizhou Kouan Shipbuilding due to delays. At the beginning of 2020, Tomini Shipping canceled the contract for the first ship, MV Tomini Nobility. Nevertheless, Tomini Shipping later renegotiated a new price and took delivery of MV Tomini Nobility in September 2020. Therefore, Tomini Shipping might end up taking the delivery of the third kamsarmax bulk carrier in the series. In 2017, Tomini Shipping three (3) kamsarmax bulk carriers at the Taizhou Kouan Shipbuilding for around $24 million each. In the summer of 2019, Taizhou Kouan Shipbuilding had run into acute cash-flow problems. In September 2020, UAE based shipowner and operator Tomini Shipping acquired 2016 built ultramax bulk carrier 60K DWT MV Tomini Integrity (ex MV Bulk Aries) for around $19 million from Singapore-based Asa Capital. Nitin Mehta led Tomini Shipping to have confidence in the long-term outlooks for the dry bulk market. Tomini Shipping has been committed to expanding fleet. Currently, Tomini Shipping owns and operates 16 bulk carriers. 25-September-2020

 

UAE-based shipowner and operator Tomini Shipping could not take delivery of a kamsarmax bulk carrier from cash-strapped Taizhou Kouan Shipbuilding. In 2017, Tomini Shipping ordered kamsarmax bulk carrier 82K DWT MV Tomini Nobility for $24 million to be delivered in Q1 2020. However, the Chinese private shipyard could not deliver the kamsarmax bulk carrier due to the coronavirus pandemic and cash-flow obstacles that have delayed construction at the shipyard. In 2017, Tomini Shipping ordered three (3) kamsarmax bulk carriers. But unfortunately, the other two (2) kamsarmax bulk carriers will not be completed on time. Tomini Shipping might renegotiate the price tag of kamsarmax bulk carriers with Taizhou Kouan Shipbuilding. Including Tomini Shipping’s kamsarmax bulk carriers, the Chinese shipyard has an order backlog of 15 new-buildings. 3-June-2020

 

UAE-based shipowner and operator Tomini Shipping convinced crew members of 2017 built ultramax bulk carrier 64K DWT MV Tomini Destiny to discharge cargo in Bangladesh. A few days ago, MV Tomini Destiny’s crew members refused to discharge cargo in Bangladesh due to coronavirus contagion. MV Tomini Destiny’s 22 crew members feared that dockers would come on board of the ship during operations. According to Tomini Shipping, essential interest has been the health and safety of MV Tomini Destiny’s crew. Tomini Shipping took all necessary precautions for the health and safety of MV Tomini Destiny’s crew. Ultimately, Tomini Shipping arrived at a settlement with all the concerns of the crew members who have been stressed out because of the coronavirus pandemic. MV Tomini Destiny commenced cargo discharging operations after taking necessary precautions with appropriate maritime authorities. United Kingdom charity Human Rights at Sea expressed that the captain of MV Tomini Destiny had efficiently restricted exposure of the crew members to potential coronavirus infection by setting up razor wire to prevent access to MV Tomini Destiny and a limited number of stevedores are permitted to serve. The captain of MV Tomini Destiny had exercised the International Safety Management Code and applicable Safety Management System. On the other hand, other ships at Bangladesh ports continued day-to-day operations. The coronavirus pandemic is progressively emphasizing new business risks and competing interests between commercial contracts and the health, safety of the crew. MV Tomini Destiny’s experienced captain invoked Master’s Authority in the best interests of MV Tomini Destiny’s crew. 9-April-2020

 

UAE-based Shaikh-family controlled shipowner and operator Tomini Shipping aims for fleet expansion after listing on the Oslo OTC (Oslo Over the Counter) Market. Oslo listing will support Tomini Shipping to seek investment and acquisition options. The Oslo OTC (Oslo Over the Counter) Market listing is a critical milestone in Tomini Shipping’s development journey. Currently, UAE-based shipowner and operator Tomini Shipping has twelve (12) ultramax bulk carriers operational and three (3) kamsarmax bulk carriers on order. According to Dubai-based Shaikh-family-controlled shipowner and operator Tomini Shipping, Oslo is the most important financial market for the shipping industry after New York. The Oslo (Oslo Over the Counter) Market was the most suitable for Tomini Shipping. UAE-based shipowner and operator Tomini Shipping prepares to boost capital through share issues. After the Oslo OTC (Oslo Over the Counter) Market, Tomini Shipping will be tracked by investors. When the finance market is correct, Tomini Shipping will approach the capital markets. Dubai-based Shaikh-family-controlled shipowner and operator Tomini Shipping desires to boost the company’s fleet with the latest eco-friendly, technologically advanced ships, which can deliver outstanding services to charterers. Tomini Shipping is committed to continuing to seek new acquisitions that suit Tomini Shipping’s current corporation platform. NOTC (Norwegian Over the Counter) Market is an unregulated marketplace owned and managed by the Oslo Stock Exchange. UAE-based shipowner and operator Tomini Shipping was established as a liner operator in 1952 in Karachi, Pakistan, as the shipping arm of the Shaikh family’s cotton trading company. In 1974, the liner operating company’s fleet was nationalized and the Shaikh family moved to London, established to serve in the tween decker market. In 2004, Tomini Shipping moved to Dubai, UAE. Tomini Shipping’s chartering activities are performed by Alpina Chartering in Denmark. Tomini Shipping’s company philosophy is built on trust and creating deep relationships that concentrate on long-term collaborations with the charterers. 17-February-2020

 

UAE-based Shaikh-family controlled shipowner and operator Tomini Shipping banked asset play profits. Dubai-based Tomini Shipping sold 2012 built supramax bulk carrier 57K DWT MV Tomini Victory for around $10.5 million. Furthermore, Tomini Shipping sold 2012 built supramax bulk carrier 57K DWT MV Tomini Sincerity for around $10.8 million. Shaikh-family controlled shipowner and operator Tomini Shipping sold these two supramax bulk carriers to Chinese shipowners. In 2016, CEO Nitin Mehta-led Tomini Shipping acquired MV Tomini Victory and MV Tomini Sincerity at incredibly lower prices. Tomini Shipping is poised to realize profits of more than $7 million from the sale of supramax bulk carriers. 17-July-2019

 

UAE-based Shaikh-family controlled shipowner and operator Tomini Shipping sold two Japanese-built supramax bulk carriers. Dubai-based Tomini Shipping’s chartering activities are performed by Alpina Chartering in Denmark. UAE-based shipowner and operator Tomini Shipping sold two Japanese-built supramax bulk carriers to a Chinese shipowner and operator. S&P (Sale and Purchase) Shiprokers think Tomini Shipping’s two other Dolphin 57 Japanese-built supramax bulk carriers are also for sale. On the other hand, Tomini Shipping turns to China for $100 million to finance the fleet. Currently, Dubai-based Shaikh-family-controlled shipowner and operator Tomini Shipping has a fleet of eleven (11) bulk carriers. Furthermore, Tomini Shipping ordered three (3) kamsarmax and three (3) ultramax newbuilding bulk carriers. 17-April-2019

 

Dubai-based Shaikh-family-controlled shipowner and operator Tomini Shipping is in discussions for leasing deals to cover six (6) bulk carrier newbuildings for $100 million from China leasing companies. UAE-based shipowner and operator Tomini Shipping has six (6) dry bulk carriers on order at Chinese shipyards. Previously, Dubai-based Tomini Shipping has financed dry bulk carriers through Chinese leasing plans. Six (6) dry bulk carriers on order at Chinese shipyards were initially financed by a United Arab Emirates bank. Thereafter, Tomini Shipping moved the financing across to a China leasing company. Most Chinese leasing corporations are very commercially minded and they progress extremely fast. UAE-based shipowner and operator Tomini Shipping’s ship finance deal with a Chinese leasing company was smoothly managed. UAE-based shipowner and operator Tomini Shipping’s main shareholders are its chairmen, ­Imtiaz Shaikh, and his family. Tomini Shipping was established as the shipping arm of the Shaikh family’s Pakistan-based cotton trading company. UAE-based Shaikh-family controlled shipowner and operator Tomini Shipping concentrated solely on the dry bulk sector. Currently, Tomini Shipping has seven (7) supramax and one (1) ultramax bulk carrier in the fleet. Dubai-based Tomini Shipping’s chartering activities are performed by Alpina Chartering in Denmark. 1-April-2019