OceanFreight Inc. (NASDAQ: OCNF), a global provider of seaborne transportation services for both drybulk and energy commodities, announced a new charter for the recently acquired 180,000DWT, 2005 built capesize vessel. Upon delivery, the vessel will be renamed M/V Montecristo and will commence employment on a time charter for a minimum period of four years at a gross rate of $23,500 per day and a maximum of eight years at an average gross rate of $24,125 per day for the optional period. Anthony Kandylidis, Chief Executive Officer of the Company, commented: "Being consistent with our strategy of modern vessel acquisitions and of secured revenues, we have fixed the newly acquired capesize vessel for a minimum period of four years generating approximately $34.3 million in gross revenues over the minimum duration of the charter. Presently, our fleet charter coverage for 2010 stands at approximately 72%, while going forward, supported by our strong balance sheet and our ability to tap the capital markets, we continue to look for opportunities to grow our fleet." (www.oceanfreightinc.com)
Genco Shipping & Trading Limited announced that it has taken delivery of the Genco Augustus, a January 2007-built 180,000 dwt Capesize vessel. The Genco Augustus is the first vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capsize vessels from companies within the Metrostar Management Corporation group. The Genco Augustus is currently on charter with Cargill International
Star Bulk Carriers Corp. ("Star Bulk") announced that it has taken delivery of the Star Big (formerly Big Fish): a 1996-built, 168,404 dwt Capesize vessel. Following the completion of its regularly-scheduled drydock, the vessel is expected to be redelivered to its charterer, a multinational mining company, for the remaining period of 4.3 years under the vessel's time-charter employment at a gross daily rate of $25,000
Golden Ocean Group Limited agrees with Zhoushan Jinhaiwan Shipyard Co., on amendment of three shipbuilding contracts The agreement is related to the two Kamsarmax vessels Golden Excellence and Golden Explorer, and the Capesize vessel Golden Nantong. Due to delay in the construction progress the Company has agreed to accept late delivery of the vessels. The contract price for the three vessels in aggregate is now agreed to be USD 86.65 million.
Knightsbridge Tankers Limited sells its VLCC 'Kengsington' to an unrelated 3rd party for delivery this month. The Company expects to record a gain of approximately $0.1 million in the fourth quarter having recorded an impairment loss of $13.5 million on this vessel in the third quarter. The net cash proceeds from the sale are approximately $10 million after repayment of debt. The sale of the Kensington is part of Knightsbridge's strategy to renew and grow the fleet and the proceeds
United Bulk Terminals USA Inc. and Oldendorff Carriers GmbH & Co. KG announced a cooperative agreement to market combined loading and shipping of coal and petroleum coke in capesize vessels from the U.S. Gulf Coast to India and East Asia. The new service includes United Bulk Terminals export terminal in Davant, Louisiana and Oldendorff’s top-off installation in Trinidad. For the first time customers are able to book fully loaded capesize vessels from the U.S
CMB confirmed that its subsidiary, Bocimar and Wah Kwong, have sold the panamax vessel Yasmine Venture (2006 - 73,546 dwt) - ordered in joint venture in 2003 from Jiangnan (China) - to Diana Shipping. The net sale price amounts to $39.6 million, and CMB will realize a capital gain of approximately $5.5 million on this sale. Also, Bocimar and Oak Maritime have concluded an agreement with Chang Myung Shipping (Korea) for the sale of the joint venture vessel Mineral Oak (1996 - 165,693 dwt).
Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, today announced that it has signed a Memorandum of Agreement with an unaffiliated third party for the sale of one of its Capesize dry bulk carriers, the Pantelis SP, for the price before commissions of $81 million. The vessel, is expected to be delivered to its new owners in early July 2007. The Pantelis SP is a 169,883 dwt Capesize bulk carrier built in
Seanergy Maritime Holdings Corp. announced today that it has entered into new time charter agreements for one of its Panamax vessels and two of its Capesize vessels. The M/V BET Intruder, a 69,235 dwt Panamax dry bulk carrier built in 1993, has entered into a time charter agreement for a period of about eleven to about thirteen months at a gross charter rate of $12,250 per day. The charter will commence after the completion of the M/V BET Intruder’s current trip.
Star Bulk Carriers Corp., a shipping company focusing on the transportation of drybulk cargoes, announced that its Board of Directors has declared a cash dividend of $0.05 per outstanding share of the company's common stock for the three months ending June 30, 2011. The dividend is payable on or about August 31, 2011 to shareholders of record as of August 25, 2011. The company also announced its unaudited financial and operating results for the second quarter and first half 2011.
Baltic Trading Limited has ordered two 64,000 dwt Ultramax newbuildings for an aggregate purchase price of $56.0 million. The Company also has an option exercisable in January 2014 to acquire two additional Ultramax newbuildings under the same specifications and purchase price.
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has entered into definitive agreements to acquire two modern Ultramax bulk carriers, the M/V Supra Challenger I and M/V Supra Challenger II
Baltic Trading Limited has successfully completed its previously announced public offering, issuing 12,650,000 new shares of common stock, which included the exercise in full of the underwriters' option to purchase up to 1,650,000 shares of common stock
Baltic Trading Limited has accepted delivery of the first of two new bulk carriers, 'Baltic Tiger', a 179,185 dwt Capesize vessel, and found a time charter for the vessel without delay. The Baltic Tiger delivered to its charterer, Swissmarine Services S.A
Bechtel launched a new research initiative to improve the safety of mooring large cargo ships off the coast of West Africa. The combination of heavy ocean swell, squalls and shallow coastlines can create unpredictable conditions which limit the number of dry bulkers that can be moored safely in
During April, 2013 new build prices for capesize, kamsarmax and ultramax vessels rose higher than in the previous month. Purchase prices for ships are often good indicators of financial health in the shipping industry. When shipping demand is expected to grow more than the supply of ships
Excel Maritime Carriers, owners & operators of a large fleet of dry bulk carriers, become the latest casualty of the downturn in the shipping industry, but sets financial plans for recovery. The company says t has reached an agreement in principle with a steering committee of its senior
The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS). The London market exchange has provided its shipbroker panel members with further
Excel Maritime Carriers has entered into an agreement with its senior lenders on the terms of a financial restructuring, having now necessarily filed Chapter 11 petitions for relief in the United States Bankruptcy Court for the Southern District of New York.
Baltic Trading Limitedhas agreed to acquire two 32,000 dwt Handysize vessels, for an aggregate purchase price of approximately $41.0 million. The acquisition is subject to the completion of customary documentation and closing conditions. The two vessels
Drewry Maritime Research’s latest Dry Bulk Insight saw the Drewry Hire Index improve to 229 points in June, a 6% increase from May. The largest improvement was seen in the Capesize vessel segment, resulting in the Drewry Capesize Demand Index increasing by over 80% during the
Navios Maritime Partners L.P., owner and operator of dry cargo vessels, chartered out the Navios Joy, a newbuilding Capesize vessel for three years. The Navios Joy has been chartered out to an investment grade counterparty for three years at a rate of $19,000 net per day ($20,000 gross)
Star Bulk Carriers Corp. announced that on September 23, 2013, the company entered into agreements with Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) for the construction of two 208,000 dwt Newcastlemax drybulk vessels each with fuel efficient specifications and expected deliveries during the
Significantly rising rates for Capesize vessels began in late September to spread to Panamax vessels, and gradually also to the smaller vessel types. Citing a recent Sydbank market analysis, Maritime Denmark, notes signs of a noticeably better dry cargo market.
Baltic Trading Limited has has agreed to acquire two 179,185 dwt Capesize vessels for an aggregate purchase price of $103.0 million. The two vessels, built in 2012 and 2011 by Hyundai Heavy Industries, are expected to be delivered to Baltic Trading by the end of the fourth quarter of 2013.