A/S Dampskibsselskabet Torm, a Danish shipping company, is selling three of its tankers for a total of $63m. The move is part of Torm's strategy of selling older bulk vessels so it can build its fleet of bigger Panamax bulk vessels. Torm did not disclose who is buying the three older vessels. Following delivery of the three vessels, TORM's owned fleet will consist of 30 product tankers and five dry bulk vessels. Besides its owned fleet, the company operates nearly 100 ships. (Source: Washington Times)
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has agreed to extend the present time charter contract with Clearlake Shipping Pte. Ltd., Singapore, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate will remain $15,500 (USD) per day, minus a 4.75% commission paid to third parties, for a period of up to minimum February 15, 2015 to maximum May 10, 2015
Diana Shipping Inc. has time- chartered out the 75,336 dwt MV Triton to Bunge S.A., Geneva, at a gross charter rate of US$11,000 per day, minus a 5% commission paid to third parties, for a period of up to minimum September 1, 2014 to maximum October 31, 2014. The charter is expected to commence on December 8, 2013. The owners add that this employment is anticipated to generate approximately US$2.86 million of gross revenue for the minimum scheduled period of the charter.
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk vessels, the m/v JK Pioneer, to be renamed P. S. Palios. The gross charter rate is $18,350 per day, minus a 5% commission paid to third parties, for a period of about 22 months to maximum December 31, 2015
Greece-based industrial shipper DryShips Inc. on Monday said it plans to sell an older bulk carrier, buy a newer model and signed $66.5min contracts to build two dry bulk vessels. The company said it agreed to sell its 1995-built panamax bulk carrier for about $35 million, with delivery scheduled for the end of the year. The company will buy a larger panamax bulk carrier, built in 2000, for about $40.8 million for delivery in the fourth quarter
Scorpio Bulkers inc. announce newbuilding agreements for 3 Capesize dry bulk vessels for an aggregate of US$162-million from the South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME). The three Capesize dry bulk carriers of 180,000 dwt each are to be built at DSME's subsidiary facility Daewoo Mangalia Heavy Industries S.A. in Romania. All these 180,000 dwt ships are to be built in Romania and are of the same specification with the first two to be delivered
Scorpio Bulkers Inc. has entered into agreements to purchase five Kamsarmax dry bulk vessels currently under construction in a Chinese shipyard as listed below: Yard &n
Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, has announced that it has entered into a time charter contract with Rio Tinto Shipping Pty, Ltd., Melbourne, Australia, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v Melia. The gross charter rate is US$9,700 per day, minus a 3
Diana Shipping Inc.(NYSE:DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered into a time charter contract with Morgan Stanley Capital Group Inc., through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v "Salt Lake City". The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties
TORM has entered into a sale and leaseback agreement for the product tanker TORM Margrethe. The vessel has been sold for a total consideration of $46m. The transaction will be treated as a sale with an accounting profit of $8m. The sale will be effected in the second quarter of 2011 where the effect of the transaction will be recognised in the financial statements. At the same time, the vessel will be leased back on a bareboat charter for seven years.
WGMA says Lyngso’s retirement effective October 1, 2014. Born and raised in Denmark and finishing his shipping education including maritime law studies in 1972, Niels Lyngso has been a longtime stalwart for WGMA. Arriving in the United States in 1972 as a management trainee for Olsen
MOL President Koichi Muto informs in a letter addressed to company shareholders of a year-on-year decline in profits during the first quarter of fiscal year (FY) 2014, excerpted as follows: "I would like to report our business results for the first quarter of fiscal year (FY) 2014 (April 1
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase shares of the common stock of Diana Containerships Inc. for an aggregate purchase price of $40 million.
Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the first of six similar vessels ordered at JMU, with expected deliveries until the 3rd quarter of 2015.
Singapore-based First Ship Lease Trust (“FSL Trust”) informs in its Q1 2014 financial report that its loss for the quarter was reduced by nearly 30% to US$4.9 million from US$7.0 million posted the year before. The reduced loss was partly due to the impairment loss on financial
Seagull has released the Bulker Industry Training Standard (BITS), a predefined competence management system for the dry bulk industry. BITS is a computer-based evaluation tool to enhance the competency of officers onboard a ship type whose maintenance
Scorpio Bulkers Inc. has reported its results for the three months ended March 31, 2014. In connection with comparisons of financial performance they say they had no operations from the period from March 20, 2013 (date of inception) to March 31, 2013.
NewLead Holdings Ltd announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million. The two vessels are expected to be delivered to NewLead's fleet within the next three
Monaco-based Scorpio Bulkers Inc. says it has signed agreements to purchase 5 Capesize dry bulkships from South Korea shipyards for a total of US $306 million, and has entered into charter party contracts as set out below: Newbuildings Yard &n
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust has sold its two dry bulk vessels, MT Stella Fomalhaut and MT FSL Durban. The disposal is expected to save FSL Trust approximately $3 million (approximately S$3
NewLead Holdings Ltd. announced that it has executed definitive agreements for the acquisition of two eco-type 31,800 dwt, Handysize bulk carriers built in 2012 for a total acquisition price of $37 million. The two eco-type vessels are expected to be delivered in NewLead by the end of June and
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that it has taken delivery of M/V Star Sirius a Post - Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity.
Scorpio Bulkers, headquartered in Monaco, report its results for the three months ended December 31, 2013 and for the period from March 20, 2013 (date of inception) to December 31, 2013. Extracts follow: Results for the three months ended December 31, 2013
Star Bulk charters two fuel efficient newbuilding newcastlemax vessels under 10-year bareboat charters with purchase obligation Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has entered into agreements with CSSC (Hong
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it took delivery of the newly built m/v Crystalia, an Ice Class Panamax dry bulk vessel of 77,525 dwt that was contracted in March 2012.