Marine link

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

Recent Ship Sales

Bulk Carriers 04/15/10              THOR TRANSIT                  23,930                                  

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

TORM Product Tanker Freight Rates Climbs Up

TORM Gerd.  Photo by TORM A/S

 TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard.   TORM has demonstrated its financial and strategic flexibility with the exit from

Diana Shipping Nets $ 17.4 mln 3Q Loss

Courtesy Diana Shipping

  Diana Shipping Inc. today reported a net loss of $17.4 million and net loss attributed to common stockholders of $18.8 million for the third quarter of 2015, compared to net income of $7.7 million and net income attributed to common stockholders of $6

German Vessal Held in US

Cornelia. Photo by Micharms

A German ship Cornelia is being held in the Duluth Bay by U.S. authorities in Lake Superior for a fortnight, says local media.   The U.S. Coastguard is investigating the German bulk carrier for alleged environmental violations.   

Dry Bulk Shipping Record Low a Warning for Global Economy

A slump in dry bulk shipping is set to worsen as the meltdown in global commodities and too many ships free for hire rock the sector used by investors to gauge the health of world trade.   Slower coal and iron ore demand from China - the world's biggest industrial importer - have battered

Industry Stakeholders to Develop LNG-Powered Bulker Design

Deltamarin, Arista Shipping, ABS and GTT announce Project Forward, a joint development project to equip the dry bulk carriers of the future with LNG propulsion. The project, led by Athens-based bulk carrier owner Arista Shipping, began officially in May this year

DNV GL Releases Cargo Liquefaction Guidelines

Photo: DNV GL

DNV GL has published a guideline for the design and operation of vessels with bulk cargo that may liquefy.   The guideline aims to raise the awareness of the risks of liquefaction and describes mitigating actions to reduce these risks

HSL May Hand Over Bulk Carrier to Navy

Image: Hindustan Shipyard Limited

 Hindustan Shipyard Limited (HSL) may sell its bulk carrier under construction at the yard to the Indian Navy, reports the Hindu.   Goodearth Maritime Limited (GML) has failed to settle its dues for nearly a year after placing the order under Diamond Series of 53,000 DWT bulk carriers

Abu Dhabi Ports Sees Cargo Volumes Rise

(Photo: Abu Dhabi Ports)

Abu Dhabi Ports―the master developer, operator and manager of ports and industrial zones in the emirate―said it handled 19 percent more general and bulk cargo in the first nine months of 2015 compared to the same period in 2014. The volumes increased to 11

Dry Bulk in Dimlight

Pic: China COSCO Bulk Shipping (Group) Co

 Worse is still to come for many bulk carriers, warns a report in the Economist that claims that the dry-bulk cargo shipping has hit the bottom.   Between the start of the financial crisis and January this year Baltic Dry Index - a measure of bulk freight rates—had fallen by 95%

Diana Shipping Acquires Capesize Bulker

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that yesterday it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from an unaffiliated third party the m/v Churchill Bulker

Diana Shipping Continues Charter with RWE

m/v Maia (Photo: Diana Shipping)

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany

Goldenport Sells Supramax

Photo: Goldenport Holdings

 London-listed Goldenport Holdings has sold a 2009-built bulk carrier to Zenith Shipping LP of Majuro, Marshall Islands.   The 2009-built Alpine Trader was sold for a gross cash consideration of $9.3m and delivered to its new owners on November 5.   

Essar is 'Dry Bulk Line of the Year'

Essar Shipping Recipient of the award

  Essar Shipping, one of India’s leading shipping companies, today said that it has won the prestigious Diamond Category Award for “Line of the Year (Dry Bulk)” at the recently held Samundra Manthan Awards 2015. The company was bestowed this award in appreciation of its

Two More Secondhand Bulkers for Seanergy

Dry bulk shipper Seanergy Maritime Holdings Corp. has taken delivery of two secondhand Capesize dry bulk vessels, renamed M/V Gloriuship and M/V Squireship, to be employed in the spot market.   The 171,314 dwt Gloriuship was built in 2004 by Hyundai Heavy Industries, and the 170

Nasdaq's Second Delisting Warning to Globus Maritime

Photo: Globus Maritime

 Nasdaq-listed Greek dry bulk shipowner Globus Maritime has received notification from Nasdaq indicating it is in breach of Nasdaq Global Market requirements because the closing bid price of the company’s common stock has been under $1 for the last 30 consecutive business days.  

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright