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Panamax Bulk Carrier

Dryships Swaps Older for Newer

DryShips, Inc., announced that the company has entered into an agreement to purchase a 2000 built, 73,288 dwt Panamax bulk carrier for $72m. The vessel will be delivered charter free during the second quarter of 2008.  The Company has entered into an agreement to sell the 1996 built, 73,008 dwt Panamax bulk carrier, the MV Lanzarote, for $65m. Delivery to the new owners will take place during the second quarter of 2008. Once the sale is concluded the Company expects to realize a gain of approximately $36.3m.


Wave of New Bulk Carriers Expected to Upset Freight Rates

Some shipping brokers expect spot freight rates for Panamax bulk carriers to decline next spring when a large number of new bulk carriers enter service. About 100 newly built bulk carriers with cargo capacities of 50,000 to 80,000 tons are to be delivered in 2001, up from about 70 vessels this year, possibly causing rates to fall, the brokers said. Spot rates for Panamax bulk carriers for the U.S. Gulf/Japan route have recently risen to three-and-a-half year highs.


Star Bulk Receives Post-Panamax Bulk Carrier

Photo: Star Bulk

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has taken delivery of M/V Star Vega, a Post-Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity. The vessel has commenced a time charter with the sellers of the vessel for a period between 30 months to 34 months, at a gross daily hire rate of $15,000 minus a 1.25% address commission on gross revenues


OceanFreight Acquires Panamax Bulk Carrier

OceanFreight Inc., has entered into an agreement to acquire an eighth vessel, a Panamax drybulk carrier, that will immediately commence a two year time charter upon its delivery to the Company later this year. The purchase price of this vessel is $47m. With the addition of this new vessel, the company's fleet will be comprised of one Capesize and seven Panamax bulk carriers aggregating almost 675,000 deadweight tons. Three of the seven vessels in the Company's initial fleet were delivered


China Shipyard Delivers Panamax Bulker to SCI

The Shipping Corporation of India Ltd. (SCI) accepts bulk carrier 'Vishva Vijay' from STX Shipbuilding, Dalian, China. The vessel is the third in a series of four Panamax bulk carriers ordered by SCI from STX (Dalian) Shipbuilding Co. Ltd., China. These vessels are of higher capacity, over 80,000 dwt each, compared with conventional Panamax vessels which are of about 75,000 dwt. MV Vishva Vijay has a gross tonnage of 44,010 tonnes and deadweight of 80,312 tonnes.


Pipavav Shipyard Wins $1.06b Order

Pipavav Shipyard has won an order worth $1.06bn to build 26 Panamax bulk carriers, making it India's largest shipbuilding order to date. The orders are from Golden Ocean Group, Norway; SETAF, France; and AVGI Maritime, Greece. Source: Money Control


Premuda To Use $30M Bond To Buy Ships

Italian shipping company Premuda SpA has completed a $30.9 million bond issue in order to acquire more ships. The bond issue will give Premuda greater liquidity and allow it to acquire further bulk ships following a significant upward trend in dry cargo shipping markets, company officials said. Premuda officials said the company's affiliate, United Bulk International, recently acquired two 1993-built Panamax bulk carriers for about $26.7 million.


Euroseas Two-Year Time Charter for Aristides NP

Euroseas Ltd., (NASDAQ: ESEA), an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that a subsidiary of the company has entered into a two-year period time charter agreement for the M/V Aristides NP, a 69,268 dwt, 1993 built Panamax bulk carrier, at a gross daily rate of $18,900. The charter will commence between end February 2010 and mid April 2010.


DryShips Inc. Announces Fleet Renewal

DryShips Inc., entered into agreements with unaffiliated third parties for t he sale of the 1984 built, 166,000 dwt capesize bulk carrier, MV Shibumi for a price of approximately $24.6 million. Delivery to new owners will take place in the second quarter of 2007. It is expected that the DryShips will realize a book gain of about $17.8 million on the sale. The company has agreed to a purchase of the 2001 built, 73,931 dwt panamax bulk carrier


W Marine Orders Green Dolphin 84s Bulk Carriers

Greek shipowner W Marine Inc. has ordered a series of post-Panamax bulk carriers based on the Green Dolphin 84S design. The design was developed by the Shanghai Merchant Ship Design & Research Institute (SDARI) with support from DNV GL. Managing Diriector of W Marine Inc., Nikolaos Triantafyllakis said, “The aim of the company, in line with the wishes of its founder, Yiannis Sarantitis, is to build up a homogeneous fleet of vessels ranging in size between Panamax to post-Panamax


Two Newbuilds Delivered to Star Bulk

Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. (NACKS). The new vessels are the first two of four similar vessels ordered at NACKS


Second Bulk Shipper Files for Bankruptcy

Photo: Winland Ocean Shipping Corp

Dozens of iron ore and coal carriers idled as Baltic dry index falls to all-time low. A second dry cargo shipper has filed for bankruptcy following a collapse in freight rates that has forced many companies to idle vessels used to haul iron ore


Star Bulk Sells Panamax Bulker for Demolition

starbulk logo.jpg

Star Bulk Carriers Corp. has entered into an agreement to sell for demolition the M/V Star Tatianna (ex Fortezza), a 69,600 dwt Panamax vessel built in 1993, to an unaffiliated third party. Star Bulk expects to deliver the vessel to the buyers by early February 2015.


Japan Shipyard Orders Continue Decline

(Pic Source: JSEA)

 In December 2014, orders of Japan yard fell 37% year on year, says Japan Ship Exporters’ Association (JSEA). Japanese shipyards specialize in building dry bulk carriers.  JSEA member yards secured 24 export orders totaling 1,215


Diana Shipping Announced Vessel Delivery, Time Charters

Diana Shipping Inc. announces delivery of the newly built Capesize Dry Bulk Carrier m/v Santa Barbara; time charter contracts for m/v Polymnia with Vroon and m/v Danae with Glencore   Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary


Tsuneishi Builds 200th Kamsarmax Bulk Carrier

Ultra Lion (Photo: Tsuneishi Shipbuilding)

Tsuneishi Shipbuilding Co., Ltd. finished building an 82,000-mt D/W type bulk carrier Ultra Lion on January 7, 2015, marking the completion of the builder’s 200th Kamsarmax model vessel.   Built by Tsuneishi Group Shipbuilding, Inc


Asia Bulk-Capesize Rates at 6-year Low

Charter rates at 6-year lows as cargoes scarce; some owners anchoring ships rather than leasing at a loss. Rates for capesize bulk carriers have plunged to fresh six-year lows and could fall further with cargoes scarce in the post-holiday period, brokers said.


Panama Canal Polls Industry on Proposed Fees

ACP Administrator/CEO Jorge Luis Quijano (Image: Courtesy ACP)

ACP touts new Toll Structure as reflecting value of route and better customer service. The Panama Canal Authority (ACP) has announced a proposal for a new toll structure, following more than a year of informal consultations with representatives from various industry segments.


Diana Acquires Newbuild Dry Bulk Vessel

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from an unaffiliated third party seller, a newbuilding Capesize dry bulk vessel of approximately 180,000 dwt


Asia Dry Bulk-Capesize Market 'Imploding'

Capesize rates fall to six-year lows; rates below ship operating costs, according to accountancy firm. Rates for capesize bulk carriers on key Asian routes, which crashed close to six-year lows on Wednesday, will continue their inexorable fall in the face of few fresh cargoes, brokers said.


Freight Rate Peak Forecasted for 2016

Newport Shipping Group Chairman Harald Lone said, “Synchronized world economic growth is going to initiate higher demand for dry bulk carriers.”

The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment, with Newport Shipping Group predicting an improved tonnage balance over the next couple of years, resulting in a freight rate peak in the 2016/2017 period.


ClassNK Certifies Ship with Air Lubrication System

Photo: MHI

ClassNK has completed the EEDI appraisal of Harvest Frost, the world’s first post-panamax bulk carrier fitted with the Mitsubishi Air Lubrication System (MALS). The Harvest Frost was constructed by Oshima Shipbuilding Co., Ltd. for ADM Harvest Shipping in accordance to ClassNK rules and


Dry Bulk Drought: Asia Rates Fall

(Photo - Vale do Rio Doce)

Rates for capesize bulk carriers on key Asian routes could continue to fall next week in the absence of major charterers although lower freight rates could tempt top iron ore miners back into the market and potentially buoy rates, brokers said.


Star Bulk Takes Delivery of M/V Leviathan

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Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that on September 19, 2014 it has taken delivery of M/V Leviathan, a 182,000 dwt Capesize built by Japan Marine United (JMU).


Star Bulk to Acquire 34 Drybulk Vessels

Photo: Star Bulk

Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp






 
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