Marine link
 

Handymax Bulk Carrier

Excel Maritime Agrees to Acquire MV Fiona Bulker

Excel Maritime Carriers Ltd a shipping company specializing in the seaborne transportation of dry bulk cargoes such as iron ore, coal and grains, announced that it agreed in late February 2005 to acquire a Handymax bulk carrier, MV Fiona Bulker, for a purchase price of $25.6 million. MV Fiona Bulker (to be renamed "MV Princess I") is a Handymax bulk carrier of approximately 38,800 dwt, built in 1994 by Ishikawajima-Harima Heavy Industries. The vessel is expected to be delivered by late May 2005. MV Fiona Bulker is the ninth vessel that the Company has agreed to acquire since Christopher Georgakis joined Excel Maritime as CEO in late October 2004. CEO Georgakis commented, "The acquisition of MV Fiona Bulker increases our tonnage carrying capacity and decreases the average age of fleet, which is consistent with our overall acquisition strategy."


Wärtsilä Engines for Bulk Carriers

Wärtsilä Corporation was awarded contracts to supply RT-flex50 common-rail low-speed engines, propellers and Auxpac generating sets to Goodearth Maritime Ltd of Chennai, India, for six 53,000 tdw handymax bulk carriers. For each ship, Wärtsilä will deliver a six-cylinder RT-flex50 common-rail low-speed engine with a maximum continuous power of 9720 kW at 124 rpm, together with a Wärtsilä fixed-pitch propeller and three 645 kWe Wärtsilä Auxpac generating sets.


Eagle Bulk Receives Supramax Dry Bulk Ship

Eagle Bulk Shipping, Inc. (Nasdaq:EGLE) has taken delivery of the Skua, a 2003 built 53,350 dwt Supramax dry bulk vessel. Skua was acquired as part of a three vessel transaction announced on February 28, 2007. Skua will immediately commence a 23-25 month charter at a rate of $24,200/day. The charterer has an option to extend the charter period by 11-13 months at a rate of $25,200/day. The Eagle Bulk Shipping, Inc. fleet consists of 23 vessels, including 20 Supramaxes


TBS International Ltd. Acquires Multipurpose Tweendecker

TBS International Limited (NASDAQ: TBSI) announced that it has entered into an agreement to acquire the M.V. African Sanderling, to be renamed the M.V. Hopi Princess, a 1984 built, 20,401 dwt multipurpose tweendecker. TBS agreed to acquire the vessel charter free for $18.3m with expected delivery between mid-January and mid-February 2008. Following this acquisition as well as the previously announced acquisitions of five other vessels, TBS' fleet will comprise 40 vessels in total


SCI Order 6 Ships

With reference to an announcement dated December 3, regarding the approval received from the Government for acquiring six Handymax bulk carriers of about 57,000 dwt each, Shipping Corporation of India Ltd (SCI) has informed the BSE that it has p laced orders for the same with STX Shipyard, Korea. The shipbuilding contracts were signed on December 4. The vessels are expected to be delivered between 2011 and early 2012. (Source: /www.thehindubusinessline.com)


TBS International Takes Delivery of Bulk Carrier

TBS International Limited has taken delivery of the M.V. Mohave Maiden, formerly known as the M.V. Diasozousa, an acquisition it had announced in October 2007. The M.V. Mohave Maiden is a 1984 built, 28,074 dwt handysize bulk carrier that the Company agreed to acquire charter free for $26.0 million. With this delivery, TBS' currently fleet consists 40 multipurpose tweendecker, handymax and handysize vessels. TBS expects to take delivery of two multipurpose tweendeckers (the M.V


Graig Group Secures Orders For Bulk Carriers

Cardiff-based Graig Group has secured seven firm orders for its modern double-hull ultra handymax Diamond 53 bulk carrier. Graig has ordered two Diamond 53's from Shanghai's New Century yard, Athens-based Thenamaris has taken two Graig orders from the same yard, and Scandinavian interests have confirmed, through Graig, three orders at Shanghai's Chengxi yard. First deliveries will begin in January 2005. A total of nine options have been granted by the two shipyards.


GE Shipping Takes Delivery of Handymax Dry Bulk Carrier

Great Eastern Shipping Company Ltd (GE Shipping) has announced has taken delivery of the 47,240 dwt, 1997 built Handymax dry bulk carrier. Now named Jag Riddhi, the vessel was contracted in March 2007. With this, the fleet of 46 vessels includes 34 tankers (13 crude oil carriers, 19 product carriers, and 2 LPG carriers) and 12 drybulk carriers (1 capesize, 2 panamax, 6 handymax and 3 handysize) with an average age of 12.2 years aggregating 3.22 Mn dwt.


Global Oceanic Carriers Acquires Bulk Carrier

Global Oceanic Carriers Limited, a global provider of marine transportation services for dry bulk cargoes, announces today that the company has entered into an agreement to purchase a Handymax vessel charter-free for $37m. The vessel, acquired from ABG Shipping Limited will be renamed to M/V “GO Friendship” and is scheduled for delivery in August 2007. The M/V GO Friendship was built in Korea in 1994 and has a carrying capacity of 44,875 dwt


Indian Company to Buy VLGC

Great Eastern Shipping Company signs contract to buy a 1990-built Very Large Gas Carrier (VLGC) The Great Eastern Shipping Company Limited (G E Shipping) has signed contract to buy a Very Large Gas Carrier (VLGC) of about 49,700 dwt (75,000 cbm). The 1990-built vessel is expected to join the Company’s fleet during Q2FY2013. The Company’s current fleet stands at 32 vessels, comprising 22 tankers (9 crude carriers, 13 product carriers) and 10 dry bulk carriers (1 Capesize


Swire Bulk Expands Atlantic Footprint

Courtesy Swire Bulk

Swire Bulk, the dry bulk operating arm of The China Navigation Company (CNCo), opened an US Atlantic desk in the City of Miami, Florida, United States, on 25 January 2016. This new desk, headed by Ronald Cellucci, Swire Bulk’s newly appointed Regional Office Manager for Atlantic North


NYK Line Posts Loss on Dry Bulk Fleet Revaluation

Image: NYK Line India

 Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss came after it re-assessed the recoverable value of


US-flag Great Lakes Cargos Down in January

Source: LCA

U.S.-flag Great Lakes freighters carried 2.3 million tons of dry-bulk cargo on the Great Lakes in January, a decrease of 23 percent compared to a year ago, according to figures compiled by the Lake Carriers’ Association (LCA).  Iron ore cargos decreased 20 percent


Dry-Bulk Shipping: Hitting the Bottom

Photo: China COSCO Bulk Shipping (Group) Co

 Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei.   The global commodities bust has rocked the dry-bulk shipping industry


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.   


Pioneer Marine Plunges into Red Again, Cancels Ship Orders

Photo by Pioneer Marine Inc

 Singapore-based Pioneer Marine reported a $5.4m loss for the third quarter of 2015, about even with a $5m loss in the same quarter last year.  It canceled orders for three new ships as the bulk-ship operator coped with a steep decline in demand for commodities in China.  


G E Shipping to Acquire Tanker

Courtesy G E Shipping

  The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,000 dwt. The 2005 Japanese built vessel, to be renamed “Jag Padma”, is expected to join the Company’s fleet by January 2016.


Chinese Shipyard New Orders Slump

Image: Dalian Shipbuilding

 Drop in commodity prices has slashed global demand for bulk carriers, pushing shipyards out of business, says Chinese news agency Caixin.   Huai Jinpeng, a vice minister from the Ministry of Industry and Information Technology, which oversees the sector said that the industry is


Star Bulk Sells Bulker Quartet

Photo: Star Bulk Carriers Corp.

 Star Bulk Carriers, a global shipping company providing transportation solutions in the dry bulk sector,  has reached agreements to sell four modern vessels, two capesize and two kamsarmax vessels.    The vessels were sold for an aggregate gross price of $122m and are


Recent Vessel Sales - December 2015

Vessel sales for December 2015 (as of January 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built - (Age) - Price in Millions USD Bulk Carriers 12/10 - AMINE BULKER - 28,700 - 07 - (8) - $6.3


Star Bulk Offloads Four Capesize Vessels

Pic: Star Bulk Carriers

 Star Bulk Carriers has entered into agreements to sell four newbuilding Capesize vessels to unaffiliated third parties for an aggregate gross price of $148mln.   The vessels are currently under construction in China at Shanghai Waigaoqiao Shipbuilding.  


Algoma Signs JV with Nova Marine for Global Cement Carrier Fleet

Photo:  Algoma Central Corporation

 Canada-based Algoma Central Corporation has signed a joint venture (JV) agreement with Nova Marine Holding of Luxembourg to establish a fleet of cement carriers to supply infrastructure projects across the globe.   Algoma will own 50% of the joint venture


ClassNK: New Software System for Container Carriers

(PRESS RELEASE) ClassNK released its new structural design support system PrimeShip-HULL for Container Carriers to correspond with its latest rule amendments. To promote container carrier safety, ClassNK released amendments to its Rules and Guidance for the Survey and Construction of Steel


Mercator Exists Dry Bulk, Divests Fleet

Pic: Mercator Lines(Singapore) Ltd

 As a part of an ongoing portfolio restructuring exercise following booking of losses for three years in a row, Mercator Limited has decided to exit dry bulk business carried on by its arm Mercator Lines(Singapore) Ltd(MLS).   Mercator has 11 bulkers in its fleet, ranging between 70


Huangpu Wenchong Bags Contract for Two Vessels

Image: CSSC Huangpu Wenchong Shipbuilding Company

 Huangpu Wenchong Shipbuilding has secured newbuild contracts for a 17,000dwt asphalt carrier and a 38,800dwt bulk carrier.   The eco-friendly bulk carrier is scheduled to be delivered from the shipyard by end-2017. Financial details of the deal were not disclosed.  






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