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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


CNCo Christened MV Tunsin at Imabari Shipyard

MV Tunsin Photo CNCo

The China Navigation Company (CNCo) christened its last newbuild bulk carriers, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series. CNCo ordered four handysize bulk carriers (Imbari38 loggers) from Imabari


Naming Ceremony for CNCo Newbuilding

Photo: The China Navigation Co.Pte.Ltd

 Following the naming of its new cement carrier, MV Aotearoa Chief, in New Zealand yesterday, The China Navigation Company (CNCo) christened its last newbuild, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series


Nenita Ran Aground in Columbia River

 U.S. Coast Guard photo courtesy of Sector Columbia River.

 The bulk carrier Nenita ran aground in lower Columbia river near Skamokawa in Washington, USA.   Watch standers with Sector Columbia River in Warrenton were notified at 3:21 a.m. that the 738-foot Nenita, a Marshall Islands-flagged bulk carrier loaded with grain and less than 300


DryShips Delivers M/V Sorrento

Photo: DryShips Inc.

 DryShips Inc., an international owner of drybulk carriers and offshore support vessels,  has announced that on November 22, 2016, it has successfully delivered the 2004 built Panamax bulk carrier M/V Sorrento to an unaffiliated third party buyer for a gross price of $6.7 million.


Ship Collision Kills Three in Bosphorus Strait

Three Turkish Coast Guard personnel were killed on Wednesday after their vessel collided with a bulk carrier in the Bosphorus strait, forcing officials to temporarily suspend traffic in the busy shipping lane.   Their vessel capsized after colliding with the Tolunay


Dry Bulk Shipping Outlook Good

Graph: BIMCO

 The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing short of extraordinary, says BIMCO.   But, putting it into perspective, compared to the devastating freight rate levels over the same period


53 Hanjin Vessels Denied Port Access

Photo: Hanjin Shipping Co Ltd

 The problems that collapsed South Korea’s Hanjin Shipping could be just the tip of the iceberg. Its fleet is either stuck in ports or unable to dock, with port authorities fretting that the company will not be able to pay its bills.  


No Reprieve for Multipurpose Shipping Until 2018: Drewry

Graph: Drewry

 The last three months have been some of the worst the multipurpose and project carrier sector has endured in living memory.    The breakbulk and project cargo sector remain weak, with little suggestion that volumes will improve significantly until the end of 2017


Moore Stephens: 4th Straight Year of Operating Costs Decline

Richard Greiner (Photo: Moore Stephens)

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015.   This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction


KONGSBERG Integrated Automation for LNG Fuelled Bulker

Kongsberg Maritime systems chosen for LNG Fuelled bulk carrier vessel under construction at Hyundai Mipo in South Korea (existing Ilshin bulk carrier pictured). Image courtesy Ilshin Shipping Company

Kongsberg Maritime has been chosen to supply a full integrated automation solution including the first delivery of its advanced new Fuel Gas Supply System (FGSS) for a newbuild 50,000 DWT LNG Fuelled bulk carrier, ordered by South Korean ship owner, Ilshin Shipping Company


NYK Carrier Rescues Fishermen in Distress off Indonesia

Photo: NYK Line

 Kurushima, a bulk carrier operated by NYK Bulk & Projects Carriers Ltd., a wholly owned subsidiary of NYK Line, rescued nine people from a fishing boat in distress on August 31 off the coast of Indonesia.    While Kurushima was sailing from India to Japan


HMM Acquires Hanjin's 11 Ships

Photo: Hanjin Shipping Co

 South Korea's Hyundai Merchant Marine Co. (HMM) will take over 11 ships returned by bankrupt  Hanjin Shipping Co. to the Korea Development Bank (KDB), reports Business Korea.   Haeyoung Maritime Services Co., a subsidiary of HMM which provides ship management and maintenance


Carisbrooke Joins Forces with Nova Marine

Photo: Carisbrooke Shipping

The commercial short sea bulk activities of traditionally shortsea ship owners Carisbrooke Shipping Ltd and Nova Marine Carriers SA will be expanded and consolidated effective January 1, 2017.   Notwithstanding both groups’ commercial networking offices


Shipping Recovery Faces Supply/Demand Challenges

Photo: Maersk Line

The shipping industry faces a stormy road to recovery, with uneven supply/demand trends set to test the nerve of investors and operators, according to independent research and consultancy firm Maritime Strategies International (MSI). Addressing the Hansa Forum in Hamburg, Germany this week


Great Eastern Shipping Q2 Profit Falls About 24 Pct

Photo: Great Eastern Shipping Co. Ltd

 Great Eastern Shipping  (GES) Company posted a 23.9 per cent decline in consolidated net profit at Rs 268.7 crore ($40 million) for the second quarter ended September 30, 2016, reports PTI.   The company had posted a consolidated net profit after tax of Rs 353






 
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