Eagle Bulk Shipping Inc., which specializes in dry bulk shipping, signed contracts with the Japanese shipyard IHI Marine United Inc. to build two new vessels for about $33.5 million apiece. Eagle expects to take delivery of the Future-56 class Supramax vessels in the first quarter of 2010. Once delivered, Eagle Bulk Shipping's fleet will number 18 vessels, and 14 of them will be Supramax class, or slightly larger than the more popular Handymax vessels used in dry bulk shipping. The company also said it increased its borrowing capacity from the Royal Bank of Scotland to $500 million from $450 million. The company used $24.8 million from the credit facility as a down payment on the vessels. Eagle Bulk Shipping said more than $260 million remains on the credit facility. The company said financing the new vessels will not affect quarterly dividends. Shares of Eagle Bulk Shipping rose 3 cents to close at $17.10 on the Nasdaq. Source: AP
Eagle Bulk Shipping Inc. exercised options for the construction of four 58,000 dwt Supramax vessels from the Sinopacific Shipbuilding Group, the parent of the Yangzhou Dayang Shipbuilding Co. at a contract price of $42.3 million per vessel. The availability of these options was initially reported by Eagle Bulk on August 7, 2007. The addition of these vessels to the Eagle fleet increases the total fleet size to 53 vessels, expands capacity to 2
Signifying the best of an outstanding new crop of seismic vessels, the Norwegian-built wedge-shaped Geco Eagle sports a 121 ft. (37m) wide back deck to store and deploy more recording equipment than any other vessel afloat, but the unique shipshape does not lead to a trade-off in capacity. The ability to survey more territory in a time and cost efficient manner has directly led to the tremendous push for deeper water resources exploration.
Eagle Bulk Shipping, Inc., the largest U.S. based owner of Handymax dry bulk vessels, reported its financial results for the second quarter ended June 30, 2005. Members of Eagle Bulk's senior management team hosted a teleconference and webcast at 8:30 a.m. this morning to discuss the results.
Eagle Bulk Shipping Inc. announced that it has taken delivery of the Jaeger, a 2004 built 52,265dwt Supramax dry bulk vessel. The Company has now taken on-schedule delivery of the three vessels as per the acquisition agreement announced on June 23. The Jaeger will continue its existing 11 to 13 month time charter, begun in May 2006, at a rate of $18,500 per day. The Eagle Bulk Shipping Inc. fleet consists of 16 dry bulk vessels including 12 Supramax and 4 Handymax vessels
The recent slide in bunker prices has allowed owners to operate their ships at more profitable levels The Shipping Industry has recently benefited from falling oil prices. Fuel has always been a major cost for shipping companies, and the recent slide in prices has allowed them to operate at more profitable levels. The United States Oil Fund (USO) this year has fallen nearly 23 percent, while the Guggenheim Shipping ETF (SEA) is up over 6 percent over the same period according to a
The Coast Guard Cutter Barque Eagle will arrive in Port Everglades Friday at noon. The Eagle began its seven-day trip to Dania, Fla., after departing Nassau, Bahamas, June 14. The Eagle will be visiting Port Everglades as part of a summer training mission for training cadets before returning to its homeport of New London, Conn. As the flagship of the U. S. Coast Guard Academy, the Eagle’s primary mission is to serve as a platform for training Academy cadets in the fundamental disciplines
The Coast Guard Foundation announced that it will host a reception to welcome the U.S. Coast Guard Barque Eagle at the Independence Seaport Museum at Penn’s Landing on March 18, 2011, from 7:00 PM to 8:30 PM. The official kick-off and first stop of the Eagle’s 75th anniversary tour, the reception will raise awareness of the Coast Guard Foundation’s mission to serve the men and women of the Coast Guard
US Coast Guard cadet training barque ‘Eagle’ completes its first week of the cadet summer training deployment in the Atlantic Ocean. Eagle left its homeport in New London, Conn., and sailed more than 600 miles headed to the Caribbean while under sail power and using celestial navigation. The ship’s navigator secured all means of electronic navigation, leaving the cadets to ensure they arrive at their next portcall with only a sextant and the stars.
Double Eagle Pipeline LLC, a 50/50 joint venture between Magellan Midstream Partners, L.P. and Kinder Morgan Energy Partners, L.P.,today announced that the entire pipeline system, comprised of 195 miles of pipe, is now in full operation to Corpus Christi, Texas as designed. The 84-mile western leg of the Double Eagle pipeline system is connected into four central gathering facilities and is moving condensate from Gardendale near Cotulla, Texas
BHP Billiton Ltd is set to be the first company to export lightly processed ultra-light U.S. oil without explicit permission from the government, further testing the limits of an increasingly contentious ban on foreign sales. Eight months after two other U.S
Drydocks World the international service provider to the maritime, oil, gas and energy sectors has received the Shipyard/Ship Repair Facility of the Year and the Technology/Innovation Awards for the Modular Capture Vessels(MCV’s) project at the Maritime Standard Awards
A U.S. Coast Guard (USCG) helicopter crew medevaced a mariner from a 623-foot bulk carrier located approximately 75 miles southeast of Cold Bay, Alaska, Sunday. Coast Guard 17th District Command Center watchstanders received a call from the crew of ALLSEAS MARINE S.A
Vessel performance monitoring and optimization solution ClassNK-NAPA GREEN was named the maritime industry’s top IT system by earning the IT Solutions Award at the International Bulk Journal (IBJ) Awards held at the Beurs-World Trade Center in Rotterdam on 17 November
The Panama Canal registered an increase in tonnage to 326.8 million Panama Canal tons (PC/UMS) during fiscal year 2014 which concluded on September 30. This figure represents a 2 percent increase compared to the 320.6 million PC/UMS tons registered in FY 2013.
Eagle Bulk Shipping Inc's shares shot up to as much as $15.46 from 68 cents as the company cut its borrowings by about 80 percent after converting debt into equity under a financial restructuring program. The stock was the top percentage gainer on the Nasdaq, with more than 14
Container throughput at French port Marseilles Fos reached 876,711 teu for the period January to September, an increase of 6% on the first nine months last year. The performance - driven by a 9% rise at the Fos 2XL deep sea terminals - was two points better than the trend at other French ports
The port of Antwerp handled a freight volume of 148,344,168 tonnes during the first nine months of this year. That’s 3.7% more than the same period last year. Both the container volume and the liquid bulk volume were strongly up, which helps to explain the continuing growth
Ecoships introduced a customized version of the Six Sigma DMAIC approach to process and performance evaluation in order to optimize the energy-efficiency of the vessels under its management. The technique has already resulted in Ecoships’ managed ships benefiting from up to 15% greater
The first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI), a vessel offering superlative energy efficiency and environmental performance, was delivered today to Archer Daniels Midland Company (ADM) of the U.S
Today the first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI) was delivered to Archer Daniels Midland Company (ADM) of the U.S., following its completion at Oshima Shipbuilding Co., Ltd. of Nagasaki, an MHI licensing partner.
Gaining further ground into the offshore crane market, Delta "T" Systems supplied Cranston Eagle hooks to crane manufacturer Appleton Marine, Inc. These cranes and hooks will be used on medium endurance cutters and national security cutters to move small boats into the water
Denmark's Maersk Oil, a unit of conglomerate A.P. Moller-Maersk , said on Monday oil production from the Golden Eagle field in Britain's North Sea had started. There are two Golden Eagle wells with potential to produce about 18,000 barrels of oil per day.
The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment, with Newport Shipping Group predicting an improved tonnage balance over the next couple of years, resulting in a freight rate peak in the 2016/2017 period.
Vessel sales for October 2014 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. Date Reported – Vessel Name – DWT – Built (Age) – Price in Millions USD Bulk Carriers 10/01 - NIKOL H - 24,159 - 97 (17) - $4.5