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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


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


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.


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


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.


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


Oshima-built Grain Carrier Delivered in the US

Newly developed bulk carrier with MALS (Photo: MHI)

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.


First Bulk Carrier Delivered to ADM of US

Newly developed bulk carrier with MALS

  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


Ecoships Claims 15% Ship Efficiency Gain

ecoships logo.jpg

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


Antwerp Port Achieves Highest Throughput

Port pf  Antwerps success

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


Containers, Cruises Help Boost Marseilles Fos

Photo: Marseilles Fos

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


Eagle Bulk Cuts Debt by 80%, Shares Skyrocket

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


Panama Canal's Tonnage Up

Canal

  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.


Panama Canal Registers Tonnage Increase

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.


GAC Opens New Office In Antwerp, Belgium

A new office in Antwerp, Belgium, is the latest addition to global shipping, logistics and marine services provider GAC Group's global network of more than 300 offices. Antwerp is the second largest port in Europe in terms of cargo throughput, particularly for liquid bulk


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


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


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


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).


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.


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






 
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