LLOYD'S LIST Seasenator brings Roman Empire to Valles' fleet

Company News
By Keith Wallis in Hong Kong- Tuesday December 19 2006

BULK operator Valles Steamship has expanded its aframax fleet after naming its latest 105,747 dwt newbuilding, Seasenator, at Japan's Namura Shipbuild- ing.

The 241 m long Hong Kong-flagged vessel is due to be delivered on January 6, the same day that Namura Shipbuilding president Tatsuhiko Namura celebrates his birthday.

The ship was ordered in 2003 at a cost of about $36m and is a sister vessel to Seapacis which was delivered in September last year.

The two-ship deal at Namura Shipbuilding reinforced a relationship with Valles Steamship that stretched back more than 40 years to the 1970s.

Seasenator, financed by Calyon Ship Finance, has been chartered to Italian energy major Eni for five years.

The ship is classed by ABS and was named by its godmother Kathy Somerville, wife of ABS chairman and chief executive Robert Somerville.

Speaking at the naming ceremony Valles Steamship managing director David Koo said the arrival of the Seasenator means the company will have one of the youngest fleets of aframax tankers in the world. The average age of the eight aframax vessels is under four years.

A ninth tanker is also on order at Shanghai's Hudong-Zhongua shipyard. When delivered in 2008, the 110,000 dwt ship will take the total Valles Steamship fleet to 15 vessels, including panamax and capesize bulk carriers, with a total tonnage of more than 1.6m dwt.

Commenting on the name of the ship, Mr Koo said it might "appear unusual for those who associate the word senator with the often strange behaviour of those who are elected to supposedly govern America. We prefer to have the connection with one of the original cradles of modern government, Ancient Rome, where wise government was dispensed by their elected senators to a civilisation which then went forward to establish an empire for whom trade was a key component."

He added: "Valles Steamship does not intend to become the shipping equivalent of the Roman Empire, but it is our intention to continue to play a key role in world trade and play our part in bringing about the benefits which an increased standard of living brings to the nations of the world."

Hong Kong Marine Department director Roger Tupper said the ship took the total number of vessels on the Hong Kong shipping register to 1,140 vessels totalling nearly 32.15m gt.

Valles Steamship is one of the largely privately owned aframax tanker owners in Asia.

Mr Tupper said the company has aframax tankers totalling nearly 500,000 gt on the Hong Kong register.