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Bulk Vessels

Diana Shipping Signs Loan Facility with Danish Ship Finance

  Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has completed a drawdown of US$30 million, through a separate wholly-owned subsidiary, under a term loan facility it signed with Danish Ship Finance A/S. The proceeds will be used to partially finance the acquisition cost of a Capesize dry bulk vessel, the m/v Santa Barbara, which was delivered to the Company on January 12, 2015. Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel during the second quarter of 2015, one new-building Capesize dry bulk vessel during August 2015, two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the five vessels not yet delivered, is approximately 4.6 million dwt with a weighted average age of 7.1 years.  


Diana Shipping Announces New Loan Terms and Time Charter

Diana Shipping Inc. Announces Signing and Drawdown of a US$18 Million Term Loan Facility With Commonwealth Bank of Australia; Announces Time Charter Contract for m/v Crystalia With Glencore. Diana Shipping has announced that it has completed a drawdown of US$18 million, through two separate wholly-owned subsidiaries, under a term loan facility it has signed for up to US$18 million with Commonwealth Bank of Australia


UYT Commits to Build World's Largest Yacht Carrier

Image courtesy of UYT

United Yacht Transport LLC, a Fort Lauderdale based yacht transport company, says it has committed to building a semi-submersible vessel scheduled for delivery in the second tax quarter of 2015. United Yacht believes that the conversion of a Panamax size bulk vessel will produce the world’s largest yacht transport vessel with a cargo capacity exceeding 40,000 dwt. The completed dimensions of this vessel will be 229.00m x 46


New Dry Bulk Ship Orders Take Scorpio to 8-Million DWT Level

A Scorpio Bulk Carrier: Photo courtesy of the owners

Scorpio Bulkers Inc. announce agreements signed for the purchase of twenty Capesize dry bulk vessels and two Kamsarmax dry bulk vessels, as listed below: The total purchase price for the vessels is approximately $1,171 million. About Scorpio Bulkers Inc. Scorpio Bulkers Inc. has contracted and agreed to purchase 28 Ultramax, 23 Kamsarmax and 23 Capesize newbuilding dry bulk vessels to be delivered starting from the second quarter of 2014 from shipyards in Japan, Korea, China and Romania


Diana Charters Bulk Carier to RWE

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is $12,750 per day minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter is expected to commence on January 5, 2015.   The Houston is a 177,729 dwt Capesize dry bulk vessel built in 2009.


Diana JV with WSM

Aliki Vessel. Photo by Diana Shipping Inc

 Dry bulk shipping company Diana Shipping and Wilhelmsen Ship Management (WSM) have joined forces in a new 50/50 joint venture named Diana Wilhelmsen Management Limited (DWM).   DWM, to be based in Limassol, Cyprus, and will commence operations by the end of June. It will begin operations by providing management services to "a limited number of vessels of Diana Shipping's fleet" and ultimately plans to provide management services to unaffiliated third-party vessel


Diana Shipping Announces Time Charter Contract

 Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the ownership  and operation of dry bulk vessels, entered into a time charter contract with Glencore Grain B.V., Rotterdam,  through a separate wholly-owned subsidiary, for one of its Kamsarmax  dry bulk carriers, the m/v Maia.   The gross charter rate is US$10,900  per day, minus a 5% commission paid to third parties


Diana Shipping Inc. Announces Time Charter Contract

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, Cargill Enter Time Charter Agreement

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v Calipso. The gross charter rate is $8,100 per day, minus a 4.75% commission paid to third parties, for a period of minimum 21 months to maximum 25 months.


Scorpio Bulkers Lay Out Another US$157-Million on New Ships

Photo courtesy of Scorpio Bulkers

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


Dry Bulk Shipping to Stay Low

Image by China COSCO Bulk Shipping (Group) Co., Ltd

 Goldman Sachs can't see an end to the dry cargo downturn until at least 2020 on a glut of vessels and stalling cargo growth, says a report in Bloomberg.   Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer.


Diana, Wilhelmsen form DWM

Courtesy Diana Shipping

  Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, and Wilhelmsen Ship Management (“WSM”) today announced that they have established a new 50/50 joint venture named Diana Wilhelmsen Management Limited (“DWM”).


Parana River Obstructed by Grounded Vessel

  The navigation channel at km 287 of the Parana River is obstructed after a bulk vessel went aground on the right margin during the early hours of 13 May during her navigation to San Nicolas. The Coast Guard has allowed navigation for vessels with max draft of 7


Drewry Expects Dry Bulk Shipping Recovery in 2017

Graph: Drewry Dry Bulk Forecaster

 Despite a modest recovery in earnings anticipated over the next two years, the dry bulk shipping market is not expected to return to profitability until 2017, says the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.  


Panama Canal Authority Holds Hearing on New Toll Structure

       Photo courtesy of the Panama Canal Authority

  The Panama Canal Authority (ACP) is holding a public hearing today on a proposed toll structure change. The proposed restructuring, which the ACP Board of Directors approved on December 24, calls for each ship segment to be priced based upon different units of measurement


Two Newbuilds Delivered to Star Bulk

Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. (NACKS). The new vessels are the first two of four similar vessels ordered at NACKS


Newlead Bags Panamax COA

Michael Zolotas, Chairman and Chief Executive Officer of NewLead says -Our strategy for 2015 is to continue to grow our fleet while taking advantage of market opportunities

  NewLead Holdings Ltd. announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation, anticipated to be completed within a twelve month period, of approximately 704


Houston Ship Channel Remains Partially Shut

Marine traffic in the Houston Ship Channel will remain partially halted until salvage ships retrieve an anchor that broke off a bulk carrier that collided with a tanker on Monday, the U.S. Coast Guard said on Tuesday.   The bulk ship hauling steel and the tanker that was carrying 216


Capesize Bulk Ship Delivered to Seanergy

Seanergy Maritime Holdings Corp., a shipping company specializing in the ownership and operation of dry bulk vessels, announced the delivery of the 171,199 dwt Capesize dry bulk vessel M/V Leadership. The vessel was acquired from an unaffiliated third party and was built by Imabari-Koyo


Star Bulk Adds Jennifer

Pic: Star Bulk Carriers Corp

 Star Bulk Carriers Corp has added M/V Star Jennifer (ex "Ore Hansa), a 82,290 dwt Kamsarmax bulk carrier, built in 2006, to its fleet.   The Company completed the acquisition of 34 vessels from Excel Maritime Carriers Ltd under an "en bloc" transaction announced on


Scorpio Bulkers Confirms Vessels Selloff

Photo: Scorpio Bulkers Inc.

 NYSE-listed Scorpio Bulkers confirmed the sale of seven newbuildings for a total of $290mln  to an unnamed buyer, said a company press release.   The newbuildings comprise three capesizes and a kamsarmax bulk carriers, and three LR1 product tankers.   


Scorpio Bulkers Sells Three Newbuilds for $111m

Scorpio Bulkers Inc. announced that it has entered into agreements to sell three newbuild dry bulk vessels, including two Capesize ships and an Ultramax ship, for approximately $111 million in aggregate. The Capesize vessels are currently being constructed in China and South Korea


Scorpio Bulkers Sells Three Vessels

Photo:  Scorpio Bulkers

 Scorpio Bulkers has agreed to sell two new capesize bulk carriers and an ultramax for a combined $111m to an unknown buyer.   The two capes are currently under construction in China and in South Korea, and will be delivered between Q3 2015 and Q2 2016.   


Diana Shipping Acquires Two More Bulkers

Diana Shipping Inc. announces the acquisition of a Kamsarmax dry bulk vessel as well as a newbuild Capesize dry bulk vessel   Diana Shipping Inc. signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement on to acquire a 2010-built 82


Diana Shipping fixes Post-Panamax

mv  ALCMENE

  Diana Shipping Inc. announced today that through a separate wholly owned subsidiary, it entered into a time charter contract with ADM International Sarl, Rolle, Switzerland, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene






 
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