Spar Shipping AS was established as a separate entity in 1990; holding passive shares in a number of limited partnerships dealing with shipping investments.
Established as a separate entity in 1990
Profits generated from the initial business were subsequently diversified into real estate investments, stock holding and shipping. In continuation of this strategy Spar Shipping AS was established as a separate entity in 1990; holding passive shares in a number of limited partnerships dealing with shipping investments.
In 1994 it was decided to further coordinate and strengthen management of the shipping interests by employing separate staff in Spar Shipping AS with the intent towards a more hands on approach to business. Soon after, minority stakes in limited partnerships were sold out and investments consequently concentrated on 100% ownership in dry-bulk tonnage.
Through the course of the late 1990's and early millennium, the company acquired an extensive fleet of dry-bulk vessels
Specializing within the dry-bulk segment
The company became a tonnage provider specializing within the dry-bulk segment. Investments were in general secured by long term contracts to ensure steady and predictable growth within the segment. Through the course of the late 1990’s and early millennium, the company acquired an extensive fleet of dry-bulk vessels, ranging in size from 28,000 dwt up to 72,000 dwt, eventually becoming Norway’s largest privately owned and registered dry-bulk tonnage carrier.
In 2003 the company pioneered the Diamond 53 design, a contemporary double skin construction catering for environmental and safety aspects, which at the time was limited only to tanker vessels. These vessels were all delivered from Chengxi Shipyard in the period 2005 to 2007 and represented a boost to the company in the sense that they represented cutting edge in terms of Danish ship design produced out of China at time of delivery.
Pioneered the Diamond 53 design
In 2003 the company pioneered the Diamond 53 design, a contemporary double skin construction catering for environmental and safety aspects, which at the time was limited only to tanker vessels. These vessels were all delivered from Chengxi Shipyard in the period 2005 to 2007 and represented a boost to the company in the sense that they represented cutting edge in terms of Danish ship design produced out of China at time of delivery.
In the aftermath of the financial crisis, around 2009, the company went into a renewal phase. A number of old vessels were sold and altogether eight new resale vessels were acquired from Sinopacific Dayang Shipyard. These vessels were delivered in 2010-2011 and all placed on long term time-charter. Through a well-timed transition, we have been able to maintain relevance, renew the fleet and preserve our long term competitiveness in the market place.
Ultramax vessels of modern ECO design
In 2013, six Ultramax vessels of modern ECO design were ordered from Hantong Shipyard. These vessels were delivered in 2015 and 2016. They are optimized on speed and consumption and they bring the company to the forefront in terms of efficiencies. Our ultimate goal is to be a reliable partner with a long term commitment to the industry and the tasks at hand. To further focus and ensure market relevance, altogether 5 old vessels were cleared out during first half of 2016 leaving a modern and relevant fleet in the narrow range of 53,000 dwt up to 64,000 dwt tonnage.
Sold vessels
| Vessel name: | DWT: | Delivered: | Sold: | Built / Yard: | Vessel type: |
|---|---|---|---|---|---|
| Spar Draco | 53 163 | 2006 | 2021 | 2006 / Chengxi Shipyard | Supramax |
| Spar Two | 35 971 | 1993 | 2009 | 1982 / Imabari | Handysize Logger |
| Spar Three | 35 941 | 1994 | 2009 | 1982 / Imabari | Handysize Logger |
| Spar Eight | 36 227 | 1995 | 2009 | 1982 / Imabari | Handysize Logger |
| Spar Topaz | 39 072 | 1996 | 2009 | 1987 / IHI | Handymax |
| Spar Opal | 28 215 | 1997 | 2009 | 1984 / Naikai | Laker |
| Spar Emerald | 34 970 | 1997 | 2009 | 1987 / NKK | Handymax Logger |
| Spar Jade | 30 674 | 1997 | 2011 | 1985 / Sasebo | Laker |
| Spar Garnet | 30 674 | 1997 | 2011 | 1985 / Sasebo | Laker |
| Spar Ruby | 28 259 | 1999 | 2009 | 1985 / Naikai | Laker |
| Spar Vega | 73 350 | 2001 | 2007 | 1995 / Hyundai | Geared Panamax |
| Spar Capella | 70 424 | 2001 | 2006 | 1990 / Hyundai | Geared Panamax |
| Spar Carina | 70 424 | 2001 | 2006 | 1990 / Hyundai | Geared Panamax |
| Spar Leo | 65 850 | 2004 | 2013 | 1989 / Namura | Panamax |
| Spar Corona | 70 424 | 2001 | 2007 | 1990 / Hyundai | Geared Panamax |
| Spar Sirius | 47 015 | 2001 | 2016 | 1996 / Tsuneishi | Handymax Logger |
| Spar Orion | 47 639 | 2001 | 2016 | 1996 / Oshima | Handymax logger |
| Spar Cetus | 47 374 | 2002 | 2016 | 1998 / Tsuneishi | Handymax |
| Spar Neptun | 70 101 | 2004 | 2016 | 1994 / Sumitomo | Panamax |
| Spar Lupus | 47 375 | 2002 | 2016 | 1998 / Tsuneishi | Handymax |
MV Spar Eight