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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.


Safe Bulkers Start Series B Share Trade on NYSE

Greece-based Safe Bulkers, Inc. commences trading of its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares on the New York Stock Exchange. The ticker symbol of the Preferred Shares is “SBPRB.” About Safe Bulkers, Inc. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of such services.


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


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


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.


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


Baltic Trading to Buy Handsize Bulk Carriers

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, the 2010-built Baltic Fox and the 2009-built Baltic Hare, are expected to be delivered to Baltic Trading by the end of the third quarter of 2013. Baltic Trading has reached an agreement to enter both vessels upon delivery into the Clipper


Genco Shipping Baltic Trading Merger - Voting Next Month

Pic: Genco Shipping & Trading Limited

 Genco Shipping & Trading Limited and Baltic Trading Limited have declared July 17 the date for an annual meeting of the two companies, where shareholders will vote on their proposed merger.   Genco will acquire NYSE-listed Baltic Trading in a stock-for-stock transaction, after which the combined company will be owned 84.5% by Genco and 15.5% by Baltic Trading shareholders.   Under the terms of the agreement


DryShips Announces Write-Off of Receivables

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, has announced  the agreement with one of its charterers to write-off about $16


Tundra Aground in St. Lawrence Seaway

MV Tundra in the St. Lawrence Seaway, Canada. Photo by Canfornav

 The 185 meter long drybulk vessel MV Tundra (30,892dwt, built 2009) owned by Canfornav, part of the Canadian Forest Navigation Group, has run aground overnight on the St. Lawrence Seaway at Lancaster, Ontario in Canada.   The Tundra had veered a short distance out of the shipping


Capital Product Partners Tankers get Contracts

Image: Capital Product Partners

 Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.  


Genco Shipping & Trading to Acquire Baltic Trading

Genco Shipping & Trading Limited and its subsidiary Baltic Trading Limited has announced that they have entered into a definitive merger agreement under which Genco will acquire Baltic Trading in a stock-for-stock transaction.  Under the terms of the agreement


Dryships in the Red

DryShips Inc

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2014. Fourth Quarter 2014 Financial Highlights


NMM lines up Box Buy

Courtesy of Navios Maritime Partners

  Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration, an option to acquire a 2012 South Korean-built container vessel of 13,100 TEU from an unrelated third party


Euroseas Report Loss in 4Q, FY 2014

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  Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31, 2014.


Cosco Scraps Eight Old Bulk Carriers

Image: Cosco group

Following the recent announcement ordering 10 drybulk vessels, Cosco Group announced that it has sold eight old bulkers with a total capacity of 553,798 dwt for scrapping.    The vessels were sold to different third parties for scrap for approximately RMB82.2m ($13.3m)


Euroseas Reports Results FY & Q4 2014

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  Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31, 2014. Fourth Quarter 2014 Highlights:


Euroseas Announces $5m Share Repurchase Program

euroseas_logo.jpg

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, has announced that its board of directors has approved a share repurchase program for up to a total of $5 million of the company's common


Greek Owners CPP Charter Out Three Tankships

MT Avax: Image courtesy of CPP

Capital Product Partners L.P. (CPP) an international diversified shipping company, says it has secured time charter employment for the M/T ‘Avax’, M/T ‘Agisilaos’ and M/T ‘Alkiviadis’. M/T ‘Alkiviadis’ (36,760 dwt


Star Bulk to Acquire 34 Drybulk Vessels

Photo: Star Bulk

Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp


DRYSHIPS Financial & Operating Results for 2Q, 2014

  DryShips Inc. an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, today announced its unaudited financial and operating results


DryShips Receives Funds for 9 Drybulk Vessels

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargos and offshore contract drilling oil services, announced today the receipt of a firm commitment letter from Nordea Bank for an up to $170 million senior secured credit facility to finance nine drybulk


Safe Bulkers Tops Annual Ranking Of Shipping Companies

Safe Bulkers Image

  Safe Bulkers, Inc. an international provider of marine drybulk transportation services, announced today that it has been ranked and awarded the First Place in “Marine Money's 2013 annual rankings of the Publicly Traded Shipping Companies”






 
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