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
Knutsen NYK Offshore Tankers AS (KNOT; headquarters: Haugesund, Norway), of which NYK has a 50 percent share, has officially reached an agreement with J. Lauritzen A/S (headquarters: Copenhagen, Denmark) to purchase its three shuttle tankers.*
ABS, a provider of classification services to the global offshore industry, was selected by Nakilat-Keppel Offshore & Marine (N-KOM) to class its LB310S liftboat, the first ever self-elevating unit built by the shipyard and the first built in Qatar
The Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell the 1991-built General Purpose Product Tanker Jag Prachi (28,610 dwt). The vessel will be delivered to buyers in September-October, 2014. The company’s current fleet stands at 30 vessels
Drydocks World, the leading provider of maritime and offshore services to the shipping, oil, gas, and energy sectors, will participate in the prestigious 26th edition of Shipbuilding, Machinery, and Marine Technology (SMM) Exhibition, from September 9-12, 2014
First-half container traffic at leading French port Marseilles Fos totalled 583,287 teu – up 7% on the first six months last year - marked by a 10% increase at the deepsea Fos terminals. Dry bulk and cruise passenger volumes also rose significantly, the port announced today
The U.S. Coast Guard Cutter Eagle is scheduled to arrive in Rockland, Maine, Friday, at 3 p.m. as part of its 2014 cadet summer training deployment. The Eagle's visit to Rockland is to celebrate the Maine Lobster Festival. The Eagle will be open for free public tours Saturday, Aug. 2, from 1 p
The Isle of Man Ship Registry has appointed Captain Raja Ray as business development manager in Singapore. The senior appointment is aimed at strengthening the flag’s position in the growing shipping markets of Asia Pacific.
Eagle Bulk Shipping filed for bankruptcy on Wednesday, the latest in a string of shipping companies to make a Chapter 11 filing, and said it reached agreement with its lenders to cut its debt by $975 million. The U.S. company said in a statement that creditors who hold more than 85 percent of
Interim Assistant Secretary WSDOT/Ferries Division, Capt. George A. Capacci, says that ongoing investigations suggest that damage to the ferry's propulsion system following a 29, July disabling breakdown may be more extensive than previously thought.
Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009. According to the latest edition of Newport Shipping’s Dry Bulk Market Outlook
Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009, according to Newport Shipping’s 'Dry Bulk Market Outlook 2014 Q2'.
Bulk carrier under MOL’s operation is world's first to adopt highly ductile steel plate to ensure superior collision safety Mitsui O.S.K. Lines, Ltd. (MOL) announced the world’s first use of highly ductile steel plate NSafe-Hull
Northrop Grumman Corporation has been awarded a contract by Peter Dohle Schiffahrts-KG to supply the Integrated Bridge Systems, including navigation, voyage data recorders and radio systems, to seven new bulk carrier ships. Northrop Grumman's Sperry Marine business unit will supply the
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
858 west 13th Court Riviera Beach, FL 33404 Telephone: 561 204 1500 E-mail: email@example.com Website: www.deltatsystems.com CEO/President: Lynn Oien Number of Employees: 15 The Company: Delta T Systems designs and manufactures money-saving engine room ventilation systems