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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.

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

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: /

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

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.

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

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.

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

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

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

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.  

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

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

Eagle Bulk Shipping Raises $88mln in Private Placement

Photo: Eagle Bulk Shipping Inc

 Marshall Islands corporation headquartered in Stamford, Connecticut Eagle Bulk Shipping Inc has announced that it has closed its previously announced private placement of its common stock for aggregate gross proceeds of $88.0 million.    

Thornico Enters Dry Bulk Shipping

An Experienced and Earth-bound Team Photo Thorco Bulk

THORNICO launched its newest player on the shipping market, the dry bulk carrier Thorco Bulk. THORNICO already owns the project oriented carrier Thorco and with this expansion it aims to offer a wider range of services to meet the needs and demands of their clients.

GE Shipping Takes Delivery of a New Building Resale Kamsarmax

Photo: Great Eastern Shipping Company Limited

 Great Eastern Shipping Company (GE Shipping) took delivery of a new building resale Kamsarmax Dry Bulk Carrier ‘Jag Aalok’ of about 82023 dwt.    According to a report in the Livement,  the company had contracted to buy the ship in April 2016

Japanese Shipbuilding Sliced

Graph: Alibra Shipping Ltd. Research

 New ship orders placed at Japanese yards fell by 80% during H1 2016 compared to H1 2015, according to data from the Japan Ship Exporters' Association (JSEA).    According to ALIBRA Weekly Market Report , this is the worst decline since the autumn of 2008 in terms of gross tonnage

G E Shipping Acquires Bulk Carrier

Courtesy GE Shipping

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Secondhand Capesize Dry Bulk Carrier “Jag Anand” (2011 built) of about 179,250 dwt. The company had contracted to buy the vessel in June 2016. With the inclusion of the vessel

G E Shipping Buys Product 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 48,539 dwt. The 2005 Japanese built vessel is expected to join the Company’s fleet in Q2 FY17. The Company’s current fleet stands at 33 vessels

G E Adds a Kamsarmax Dry Bulk Carrier Jag Ajay

Photo: Great Eastern Shipping

 The Great Eastern Shipping Company took delivery of a new building Kamsarmax dry bulk carrier Jag Ajay.    Great Eastern Shipping Company Ltd has informed the Bombay Stock Exchange regarding a Press Release dated June 30, 2016 titled: G E Shipping takes delivery of a new building

Star Bulk Carriers Reports 1Q Loss, Adds 3 Vessels.

Pic: Star Bulk Carriers Corp

 The Athens, Greece-based Star Bulk Carriers Corp. (SBLK) has reported a loss of $48.8 million in its first quarter. The shipping company posted revenue of $46.3 million in the period.   Petros Pappas, Chief Executive Officer of Star Bulk

Jinhui Sells Supramax

Photo: Jinhui Shipping and Transportation

 Jinhui Shipping and Transportation has agreed to sell another supramax dry bulk carrier, having just made a similar deal earlier this month.   The purchaser is a company incorporated in Hong Kong. The bulk carrier will be delivered to the new owner between 29 July to 30 August 2016.

List: Top Five UK Ship Owners

Photo: Zodiac Maritime

Following last week's landmark referendum results, VesselsValue has compiled a list of the top five U.K.-based shipowners and their total fleet value in USD billions.   1-Zodiac Maritime: car carriers, containerships, bulk carriers and crude, product and LPG carriers 

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