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Eagle Bulk

Eagle Bulk Shipping to Build New Vessels

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 Orders Ships

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


Great Ship - Geco-Eagle

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 Reports 2Q Results

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.


Jaeger Join the Eagle Bulk Fleet

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


Shipping Benefits from Falling Fuel Costs

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


Eagle Arrives in Port Everglades

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


Coast Guard Foundation Welcomes USCG Barque Eagle to Philadelphia

Photo courtesy USCG

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


Coast Guard Cadets Navigate 'Eagle' by Sextant

Cadets Handling a Sextant: Photo credit USCG

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 Fully Operational

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


Star Bulk Takes Delivery of M/V Leviathan

star bulk.jpg

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that on September 19, 2014 it has taken delivery of M/V Leviathan, a 182,000 dwt Capesize built by Japan Marine United (JMU).


G E Shipping Acquires a Supramax Bulk Carrier & Sells "Jag Prachi"

Jag Prachi

  The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month. Earlier yesterday the company reported having delivered its 1991 built General Purpose Product


New Assistant Secretary WSDOT Sets Her Priorities

Vigor Shipyard tour: Photo WSF

In the latest Washington State Ferries 'Weekly Update' newly appointed Assistant Secretary WSDOT/Ferries Division, Lynne Griffith, sums up as she completes her first week's duties: "As I close out my first week as Assistant Secretary


Pioneer Natural Resources to Double Condensate Exports

3rd U.S. condensate export cargo heading to Singapore; Pioneer expects exports to rise to 50,000 bpd next year. Eyes exports of bigger cargoes to reduce freight costs. Pioneer Natural Resources plans to double its U.S. exports of condensate, an ultra-light oil, to 50


Coast Guard to Open Cutter Eagle for Tours

yorktown pier.jpg

U.S. Coast Guard (USCG) Cutter Eagle, America's tall ship and seagoing classroom for future officers in training, is scheduled to be open for tours Saturday at Coast Guard Training Center Yorktown. Tours will be held from 10 a.m. - 7 p.m.


ABS Adds First Japanese-flagged Carrier to its Classed Fleet

Transfer of flag follows ABS' designation as Recognized Organization ABS has added the first Japanese-flagged vessel to its classed fleet after having been awarded the status of a 'Recognized Organization' (RO) by the Japanese government.


Asia Buyers Wary of U.S. Condensate Test Results

Petchem producers unlikely to buy due to impurities in oil. Big middle distillates yield, less naphtha, LPG; wide variance in API gravities in assays, samples. Tests on samples of the same type of U.S. condensate now heading to South Korea and Japan have raised questions about the ultra-light


G E Shipping Contracts to Buy a Supramax Bulk Carrier

Great Eastern

  The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a Supramax Bulk Carrier of about 52,454 dwt. The 2006 built vessel is expected to join the Company’s fleet in September-October 2014. The Company’s current fleet stands at 30 vessels


Latest Ocean-going Shipbuilding Orders

Bow shot: File photo

A number of orders are reported by Clarkson Hellas in their latest S&P Weekly Bulletin, with contracts being signed across the Dry Bulk, Tanker and Container markets. Dry bulk carriers Activity has been focused amongst the small/midsized vessels with Empros Lines reported to have signed up


Port of Lake Charles Terminal Expansion Gains $10m

Sen. Landrieu Announces $10m for Port of Lake Charles Terminal Expansion U.S. Senator Mary L. Landrieu, D-La., a Senior member of the Senate Appropriations Committee, today announced a $10 million grant for the Port of Lake Charles through the Transportation Investment Generating Economic


ClassNK Expands Joint Research in Europe

Marco Schneider, Project Manager, CFD, HSVA; Noboru Ueda, Chairman and President, ClassNK; Yasushi Nakamura, Executive Vice President, ClassNK; Capt. Herman Visser, Oldendorff Carriers

Class Society Joins Joint R&D Project for Bulk Carrier Safety with Germany’s HSVA and other European Research Institutions Classification society ClassNK announced that it will join a new European Joint R&D project to ensure bulk carrier safety


Great Lakes Dry Cargo Residue Discharge Rule in Effect

The U.S. Coast Guard published a final rule to the Federal Register announcing that it has received approval from the Office of Management and Budget for an information collection request associated with the January 2014 final rule on the discharge of bulk dry cargo residue on the U.S


Seagull Maritime Response on Safety, Security

The Seagull training system provides software tools for the unique training challenges faced by the maritime industry today.

  Key areas of concern for seafarer safety and security in both marine and offshore operations have triggered the release of six new and one supplementary titles from computer-based training specialist Seagull Maritime. Third quarter 2014 releases include specific emphasis on the offshore


Bald Eagle Rescued from River by Coast Guard Crew

Bald Eagle rescued: Photo USCG

 A Coast Guard crew from Station Saginaw River, Michigan recently rescued a juvenile bald eagle from the Saginaw River. The eagle was reported to watchstanders who alerted the crew of a a 45-foot rescue boat which was on the river conducting training and was diverted to help the eagle


Two WSFs Due Back in Service

WSF Yakima: Photo Wiki

Washington State Ferries (WSF) inform in its latest newsletter that the ferries 'Kitsap' and 'Yakima' are expected to return to service next week. Commercial shipyards and Eagle Harbor staff completed work this week on both the Yakima and the Kitsap.






 
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