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Dry Bulk Cargoes

Excel Maritime Increases Quarterly Minimum Dividend

Excel Maritime Carriers an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that the Board of Directors has increased the Company’s minimum annualized dividend guidance to $1.60 and has set the 2008 minimum annualized dividend guidance to $1.20. This guidance would result in a minimum quarterly dividend of $0.40 per common share beginning with the dividend declared for the second quarter of 2008.


Diana Shipping Assumes Shipbuilding Contracts

Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced that it has assumed shipbuilding contracts from two unaffiliated parties for the construction of two Capesize dry bulk carriers of approximately 175,000 dwt each for a price of $60.4 million each. The vessels will be constructed by Shanghai Waigaoqiao Shipbuilding Co., Ltd. and Diana Shipping Inc. expects to take delivery of the vessels during the second quarter of 2010.


Excel Maritime Acquires Handymax Dry Bulk Vessel

Excel Maritime Carriers Ltd a shipping company specializing in the seaborne transportation of dry bulk cargoes, announced that it has entered into an agreement to purchase a Handymax dry bulk vessel for delivery during the first quarter of 2005. The vessel, of 42,500 dwt, was built in Japan in 1987, and will be put directly into the spot and short term time charter markets. CEO Christopher Georgakis commented, "The demand for seaborne dry bulk trade has grown tremendously over the last few


Star Bulk Carriers Relocates, Appoints Kleopas

Star Bulk Carriers Corp., a shipping company focusing on the transportation of dry bulk cargoes, announced that it has moved its executive offices to new premises at 40 Agiou Konstantinou Str, 15124 Maroussi, Greece. All interested parties are asked to update their records accordingly. Star Bulk also announced the appointment of Zenon Kleopas as the Company's new Chief Operating Officer. Kleopas has over 30 years of experience in the shipping industry and served as General Manager of


Star Bulk Carriers AGM Approves Directorships, Auditors

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, held its Annual Meeting of Shareholders in Singapore recently. At the meeting, each of the following proposals, which are set forth in more detail in the Notice and the Company’s Proxy statement were approved and adopted: 1.The re-election of Mr. Petros Pappas and Mr. Spyros Capralos as Class C Directors of the Company to serve until the 2016 Annual Meeting of Shareholders; and


Diana Shipping Charter Out Panamax Bulker at Daily US$11k

MV Triton: Photo credit Diana Shipping

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.


Quintana Prices 8 Vessels for 2010

Quintana Maritime Ltd., a Greek shipping company specializing in dry bulk cargo, said Tuesday it secured eight vessels under a master time charter with Bunge SA at an average daily rate of $21,800. Quintana Maritime expects to earn about $59.2 million in net revenue in 2010 as a result of the fixtures. The company said almost 40 percent of its fleet's expected net operating days are secured at fixed rates in 2010, worth about $119 million. Source: AP


Diana Shipping Time Charter, M/V Calipso

Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the transportation of dry bulk cargoes, has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk carriers, the m/v Calipso, at a gross rate of US$9,400 per day for a minimum eleven (11) to a maximum fourteen (14) month period. The charter commenced on January 24, 2009. This employment is anticipated to generate approximately $3


Diana Shipping: Time Charter Contract for M/V Boston

Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the transportation of dry bulk cargoes, has entered into a time charter contract with Morgan Stanley Capital Group Inc., for one of its Capesize dry bulk carriers, the m/v Boston, at a gross rate of $14,000 per day, minus a 5% commission paid to third parties for a minimum twenty-two (22) to a maximum twenty-six (26) month period. The charterer has the option to employ the vessel for a further minimum eleven (11) to a


Greek Owners Sell Bulker, Reduce Debt

Greece-vased Seanergy Maritime Holdings sells its 172,173 dwt Capesize bulk carrier  'BET Scouter' for recycling The 1995-built, drybulk vessel, built in 1995 fetched a gross price of US$12,118,537. The ship was sold for demolition and has been delivered to its new owners. The Company will use the proceeds to reduce debt. Following the completion of sale of the BET Scouter, the Seanergy Maritime fleet consists of ten Handysize, three Panamax


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.


Higher Capesize Rates Perks Up Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday, supported by increased demand for capesize vessels.   The overall index, which factors in average daily earnings of capesize, panamax


DryShips Loss $59.2mln in Q1

Ocean Rig Corcovado and Ocean Rig Olympia naming ceremony at Samsung Heavy Industries. Photo by DryShips Inc

 The Athens, Greece-based DryShips Inc. (DRYS) has reported a loss of $59.2 million in its first quarter. DryShips is an owner of dry bulk carriers and tankers that operate worldwide.   The company said it had a loss of 9 cents on a per-share basis


April Ice Weighs on US-flag Lakes Cargo

Icebreaker Great Lakes.jpg

U.S.-flag Great Lakes freighters (lakers) moved 6.7 million tons of dry-bulk cargo on the Great Lakes in April, a decrease of nearly 6 percent when compared to the month’s 5-year average.  Another brutal winter again spawned heavy ice formations Lakeswide that slowed the vessels that


Baltic Index Rises as Demand for Large Vessels Increases

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday primarily because of higher rates for the large vessel segments.   The overall index, which factors in average daily earnings of capesize, panamax


Baltic Index Slips on Lower Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Wednesday on lower capesize rates.   The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


Baltic Index Edges Lower as Capesize Activity Decreases

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped on Thursday primarily due to lower demand for capesize vessels.   The overall index, which factors in average daily earnings of capesize, panamax


Baltic Index Inches Up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Friday on increased rates for bigger vessels. The overall index, which factors in average daily earnings of capesize, panamax


Baltic Index Flat on Muted Shipping Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained flat on Monday on muted shipping activity.   The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


Baltic Index Inches Up, Vessel Activity Muted

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, inched up on Monday amid muted shipping activity.   The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


Baltic Index Down on Weak Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday on lower vessel rates.   The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


Baltic Index Down on Muted Vessel Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday as vessel activity remained weak.   The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


Baltic Index Down on Lower Rates for Panamax, Smaller Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday, pulled down by a fall in rates for panamax and smaller vessels. The overall index, which factors in average daily earnings of capesize, panamax


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


Heidmar Enters Dry Bulk with TBS Ocean

Image by TBS Group of Companies

 Heidmar and TBS Ocean are joining forces to form a dry bulk pool alliance. New alliance with TBS Ocean plan to combine two players’ operating strengths in geared bulker JV.   TBS will continue as manager of a series of dry bulk pools, while Heidmar will provide its pool expertise






 
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