Drybulk Vessels

Euroseas Ltd. Takes Delivery of 15th Vessel

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk carriers and container ships and provider of seaborne transportation for drybulk and containerized cargoes, announced that it has taken delivery of the M/V Trust Jakarta, to be renamed Ioanna P, a Panamax drybulk vessel of 64,873 dwt built in 1984 in Japan. The vessel was acquired for approximately $28.6m and was delivered with a time charter attached until July 2008 at a rate of $35,500 per day. The vessel has been partly financed with a bank loan of approximately $15m. On the basis of our fixed spot and existing time charters (including the M/V Ioanna P time charter) approximately 92% of our vessel capacity in the fourth quarter of 2007 and approximately 46% in 2008 are fixed, which will help protect us from market fluctuations.

Tide Runs Against Dry Bulk Carrier Genco in 2012

Genco Shipping & Trading Limited reports its financial results for the three and twelve months ended December 31, 2012. Financial Review: Full Year 2012 The net loss attributable to Genco was $144.9 million or $3.47 basic and diluted loss per share for the year ended December 31, 2012, compared to net income attributable to Genco of $25.4 million or $0.72 basic and diluted earnings per share for the year ended December 31, 2011.

Genco to Sell Handymax Vessel

Genco Shipping & Trading Limited announced that it has reached an agreement to sell the Genco Commander, a 1994-built Handymax vessel to Dan Sung Shipping Co. Ltd. for $44.45m less a 2% brokerage commission payable to a third party. The Company expects to realize a net gain of approximately $24m from the sale of the vessel in the fourth quarter of 2007. The company plans to use the proceeds from this sale to pay down debt following its recent agreements to acquire a total of 15 drybulk

TOP Tankers Closes Offering

TOP Tankers Inc. announced the closing of its offering to the public of 24,150,000 shares of its common stock. The company recently announced the pricing of the Offered Shares at $3.00 per share and also announced that the underwriters exercised their full over-allotment option to purchase 3,150,000 shares in addition to the originally announced 21,000,000 share offering. The total net proceeds to the Company from the offering, after deducting the underwriters' discount of approximately $2

Stephens Fall Investment: Aegen, Genco Present

Aegean Marine Petroleum Network Inc. announced that the company's President, E. Nikolas Tavlarios, is scheduled to present at the Stephens Fall Investment Conference in New York on Tuesday, November 18, 2008 at 10:00 a.m. ET. The presentation will be broadcast live over the Internet and can be accessed at http://www.wsw.com/webcast/stph9/anw/. Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company that markets and physically supplies refined marine fuel

Chinese Shipyard Delivers Bulker to Paragon Shipping

Greek-based Paragon Shipping announce delivery of Its second 'Handysize' dry bulk carrier Paragon Shipping Inc. announce that it has taken delivery of the M/V Precious Seas, a 37,205 dwt Handysize vessel, from the Zhejiang Ouhua Shipbuilding Co. in China. The vessel has been chartered out to Cargill International S.A. for a period of 23 to 26 months at a gross daily rate of $12,125. In addition, the Charterers have the option to extend the charter period for an additional 11 to 14 months at

Paragon Takes Delivery of Ninth Vessel

Paragon Shipping Inc. has taken delivery of the third of the three drybulk carriers that it had contracted to acquire using the net proceeds of its recent public offering together with bank borrowings. The company took delivery on September 17, 2007 of the Diamond Seas, a 74,274 dwt Panamax drybulk carrier built in 2001. The Diamond Seas has been chartered to Vespucci Marine C.V. pursuant to a time charter with a remaining period of approximately 32 to 34 months at the charterer's option

Foteinos, Safe Bulkers Director/COO

Safe Bulkers, Inc. (NYSE:SB), an international provider of marine drybulk transportation services, has confirmed that its Chief Operating Officer and director, Nicolaos Hadjioannou, has resigned from both positions with the company in order to pursue his own shipping activities. Under his contractual arrangements with the company, Mr. Hadjioannou cannot pursue drybulk vessel business opportunities for the next 12 months, unless first offered to, and refused by, the company.

Navios Maritime Purchases Navios Aurora II

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, announced the purchase of Navios Aurora II, a 2009 South Korean-built Capesize vessel with a capacity of 169,031 dwt, for $110m from Navios Maritime Holdings Inc.  (NYSE: NM). The vessel is chartered out until November 2019 for $41,325 (net) per day. $20m of the purchase price is funded by the issuance 1,174,219 common units of Navios Partners. The $17

Chinese Shipyard Delivers Handysize Bulk Carrier to Greek Owners

Paragon Shipping has taken delivery of 37,293 dwt handysize bulker 'MV Prosperous Seas' from Zhejiang Ouhua Shipbuilding Co. China. The newly constructed vessel has been chartered out to Cargill International S.A. (the "Charterers") for a period of 23 to 26 months at a gross daily rate of $12,125. In addition, the Charterers have the option to extend the charter period for an additional 11 to 14 months at a gross daily rate of $15,500.