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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, a 2011 built Capesize dry bulk vessel of 179,362 dwt, for a purchase price of $28.5 million. The vessel, to be renamed Seattle, is expected to be delivered to the buyer by mid-November 2015. Excluding the newly acquired vessel, as well as one new-building Capesize dry bulk vessel expected to be delivered to the Company by mid-November 2015, one new-building Newcastlemax dry bulk vessel expected to be delivered to the Company during the second quarter of 2016, and one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel expected to be delivered to the company during the third quarter of 2016, Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (two Newcastlemax, 12 Capesize, three Post-Panamax, four Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of the company’s fleet, excluding the five vessels not yet delivered, is approximately 4.7 million dwt with a weighted average age of 7.57 years.  

New Bulker, Drawdown Loans Actioned by Diana Shipping

Diana Shipping Inc. signs MOU to buy a new-building bulk ship from a third party; subsidiaries negotiate term loan facilities. The new-building Kamsarmax dry bulk carrier, to be named Myrto of 82,131 dwt, was built by Tsuneishi Shipbuilding Co., Ltd., Japan, and the purchase price is US$26.5-million. The vessel is expected to be delivered to Diana Shipping at the end of January 2013. Separately, the Company also announced that it signed, through two separate wholly owned subsidiaries

Wilhelmsen Wins Contract from Meyer Werft

Wilhelmsen Marine Engineering won an order from Meyer Werft in Germany to finalize the cruise ship AIDAblu and two new cruise vessels, NB689 (unnamed) and NB690 (unnamed) being built for the German cruise operator, AIDA Cruises. Under the terms of the deal, Wilhelmsen Marine Engineering's subsidiary, Wilhelmsen Callenberg Fläkt will deliver heating, ventilation and air conditioning (HVAC) systems and related engineering services. The order has an estimated value of EURO 10.4 million.

Navios Maritime Acquires Newbuilds

Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, announced the delivery of a new build Capesize vessel and the agreement to acquire another new build Capesize vessel. The Navios Antares, a 169,059 dwt Capesize vessel, was delivered to Navios Holdings' owned fleet on January 20, 2010 from a South Korean Shipyard. Navios Holdings agreed to acquire a new build Capesize vessel of 180,000 dwt

Diana Shipping Signs Loan Facility with Danish Ship Finance

  Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has completed a drawdown of US$30 million, through a separate wholly-owned subsidiary, under a term loan facility it signed with Danish Ship Finance A/S. The proceeds will be used to partially finance the acquisition cost of a Capesize dry bulk vessel, the m/v Santa Barbara, which was delivered to the Company on January 12, 2015.

Diana Shipping Extends Charter for Crystalia With Glencore

Crystalia. Photo by Diana Shipping Inc

 Diana Shipping Inc., has, through a separate wholly-owned subsidiary, agreed to extend the present time charter contract with Glencore Grain B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the MV Crystalia.   The charter has been extended for a period of minimum ten months to maximum thirteen months at a rate 43% lower than the original fixture.   The Crystalia (77,525 dwt, built 2014) was fixed at a gross rate of $9,000 daily, minus 5% commission

Transas Chosen for Ferry Newbuilds

Transas signed a contract with Uljanik shipyard, Croatia, to equip four ferry new buildings with its onboard navigation systems. The contract will be implemented before the 2006 and the first ferry is scheduled for commissioning at the beginning of 2005. Each ferry will be fitted out with GMDSS equipment, ARPA/Radar system, Automatic Identification System, autopilot, gyro- and magnetic compasses, log, echo sounder, Global Positioning System (GPS) and Ship Security Alert System (SSAS).

SEVSAT for Entire Varada Marine OSV Fleet

Photo courtesy Strike Zone Communications

Ship Equip announced a contract with Varada Marine to install its SEVSAT (Ship Equip VSAT) maritime broadband solution on the company’s entire fleet of Offshore Supply Vessels. Varada Marine, a company with its head office in Kristiansand, Norway, has announced an extensive new building program at ABG Shipyard Ltd in India.  Deliveries of SEVSAT systems will commence in step with the new building program, with the first system already delivered to the yard.   

G E Shipping Takes Delivery of Kamsarmax Dry Bulk Carrier


The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its new building Kamsarmax dry bulk carrier “Jag Aditi”. The vessel of about 80,700 dwt was built at STX Offshore & Shipbuilding Co.Ltd, South Korea. With the induction of “Jag Aditi”, the Company’s fleet stands at 35 vessels, comprising 27 tankers (10 crude carriers, 16 product tankers, 1 LPG carrier) and 8 (1 Capesize, 2 Kamsarmax, 1 Panamax, 3 Supramax

Golar LNG Secures Charters for Carrier Duo

Golar Arctic

  Golar LNG announced today that it has been awarded 2 time charters by Nigeria LNG Ltd ("NLNG") to employ the recently delivered Golar Frost and Golar Crystal. Employment of both vessels under these contracts will commence in January 2015 and will continue for a duration of approximately 12 months for each vessel. NLNG has elected to retire earlier than planned 3 of its smaller and less efficient LNG Carriers and to replace these with Golar's more modern and technically

Oman Shipping Names Two New Tankers

The recently named tanker Muscat Silver (image: Oman Shipping)

Oman Shipping Company (OSC) has performed the naming ceremony for two new product and chemical tankers – the Muscat Silver and Rustaq Silver.   The ceremony took place at the Hyundai Mipo Dockyard in Ulsan, South Korea. OSC will now take delivery of the Muscat Silver as part of a deal

Marlink Inks Broadband Deal with BP Shipping

Marlink will provide BP Shipping with global multi-band high speed VSAT (Very Small Aperture Terminal) services to support operational efficiency and crew communication across its tanker fleet.   Under the new contract, Marlink will deliver primary communication capability on its flexible

Star Bulk Carriers Sold Three Vessels in Q3

Pic by Star Bulk Carriers

 Star Bulk Carriers has sold three vessels during the third quarter, a modern Supramax and two 90s built Panamax says Petros Pappas, Chief Executive Officer.   Net sales proceeds for completed vessels sales were approximately $27.9 million in Q3 and we also received approximately $3

Høyesen to Head MacGregor's Offshore Solution Division

Høye G. Høyesen

MacGregor, part of Cargotec, creates a new division 'Advanced Offshore Solutions' by merging its two Norway-based divisions and combining the strengths in offshore mooring, loading and load handling businesses.   With the new joint division MacGregor aims to gain synergies and improve the

Epic Gas Secured Credit Facility for 7 Newbuilds

Pic: Epic Gas Ltd.

 Epic Gas Ltd has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction.   The facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with Coordinator

Odfjell's Tanker Overhaul Seeks to Slash Emissions by 20%

Bow Clipper is the first of Odfjell’s tankers to be upgraded (Photo: Odfjell)

Norwegian tanker shipper Odfjell announced it is upgrading the propulsion systems aboard 19 of its chemical tanker vessels in a move that aims to reduce its fuel consumption and emissions by up to 20 percent.   The upgrades, which include the retrofit of new energy efficient propeller

Dry Bulk Shipping Turmoil Set to Extend into 2016

Photo: Star Bulk

Dry bulk shipping faces more earnings pain as a slowdown in commodities demand and a glut of ships are expected to pile on the pressure well into 2016, ship industry players said on Wednesday.   The dry cargo shipping industry has been hit hard this year by the global commodities meltdown

Seaspan Accepts Delivery of 14,000 TEU Box Ship

Seaspan Corporation has accepted delivery of a 14,000 TEU containership new build, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14,000 TEU SAVER design containership and eighth delivery in 2015.

Diana Charters Panamax Bulker

Courtesy Diana Shipping

  Diana Shipping Inc. today announced that through a separate wholly-owned subsidiary, it entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Melite. The gross charter rate is $7,250 per day minus a 4

Harley Marine Selects Caterpillar Tier 4 Engine

Seattle-based marine transportation company Harley Marine Services has become the first to select a Caterpillar Marine engine solution that meets U.S. Environmental Protection Agency (EPA) Tier 4 Final emissions standards. “[Harley Marine has] a reputation for being very sustainable

Østensjø Rederi Orders Wind Farm Vessel

Image: Rolls-Royce

Østensjø Rederi AS has placed an order for the construction of a new offshore wind farm support vessel for maintenance operations at the Race Bank Offshore Wind Farm in the U.K., following the award of a service operation vessel (SOV) contract awarded from charterer Dong Energy.

TRIYARDS Reports Strong 4QFY15

Courtesy TRIYARDS Holdings Limited

  TRIYARDS Holdings Limited (TRIYARDS or the Group) reported a strong finish for the financial year ended 31 August 2015 (FY15) with a 59% year-on-year jump in net attributable profit (PATMI) to US$8.4 million in the fourth quarter, driven mainly by liftboat construction.

Carnival Confirms Chinese JV Cruise

Photo: Carnival Corporation & plc

 In an industry first, the Miami-based  Carnival Corp. will develop a multi-ship domestic Chinese cruise brand with Chinese partners.    Carnival, the world’s largest cruise company, formed a joint venture with China State Shipbuilding Corp

Golar and WAGL Ink Ghana FSRU Contract

Golar LNG Limited announced today that it has executed a firm contract to provide West African Gas Limited (WAGL) with floating storage and regasification unit (FSRU) services to support their liquefied natural gas (LNG) import operations in Ghana.   

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

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