DryShips Inc. a global provider of marine transportation services for drybulk cargoes entered into the following agreements: Vessel Disposals The Company has entered into agreements to sell: - The Panamax vessel MV Primera 72,495 dwt built in 1998 for US$ 75 million. Delivery to the new owners is expected to take place during the fourth quarter of 2008. Once the sale is concluded, the company expects to realize a gain of approximately US$ 40 million. - The Panamax vessel MV Paragon 71,259 dwt built in 1995 for US$ 61 million. Delivery to the new owners is expected to take place during the first quarter of 2009. Once the sale is concluded, the company expects to realize a gain of approximately US$ 31 million. - The Panamax vessel MV Menorca 71,662 dwt built in 1997 for US$ 77 million. Delivery to the new owners took place in June, 2008. The company realized a gain of approximately US$ 37 million. Vessel Acquisitions and Time Charters In line with its strategy of selling older vessels and replacing them with modern vessels, the company has entered into agreements to acquire the following vessels from companies beneficially owned by George Economou, Chairman and CEO of DryShips Inc., on terms that the Company believes are comparable to those that may be obtained
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that the company, through a separate wholly-owned subsidiary, took delivery of the m/v Baltimore (formerly Tamou), a 2005 built Capesize dry bulk carrier of 177,243 dwt that the Company entered into an agreement to purchase in April 2013. The m/v Baltimore is time chartered to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of $15,000 per day
The Panama Canal Authority (ACP) said that five “extreme-sized” panamax ships (more than 900´ in overall length) transited successively through the waterway’s Gatun Locks on August 26, 2004. This accomplishment marks the first time that five of these panamax vessels have transited Gatun Locks consecutively going southbound, toward the Pacific Ocean. Eight locomotives and 16 wires were used to move the vessels through the Locks
Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk vessels, announced that a subsidiary of the company has entered into a new time charter agreement for the M/V Tiara Globe with Transgrain Shipping at a gross rate of $20,000 per day, for a minimum of 24 to a maximum of 26 months starting sometime in February 2010. The M/V Tiara Globe is a geared Panamax bulkcarrier built in 1998 with a carrying capacity of 72
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
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered into a time charter contract with Clearlake Shipping Pte., Ltd., Singapore, a member of the Gunvor Group, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the MV Boston. The gross charter rate is $14,250 per day, minus a 4.75% commission paid to third parties, for a period of about 24-29 months
The Evergreen Group has placed orders with Mitsubishi Heavy Industries Ltd in Japan for ten post-Panamax vessels, each with a capacity of 6,724TEU. The first vessel is due for delivery in September 2005 and subsequent vessels will be delivered at the rate of approximately four per year. To be known as S-class vessels, the new ships will be built under the GREENSHIP design concept proposed by Evergreen Group Chairman Dr Chang
The Panama Canal Authority (ACP) released second quarter (Q2) operational metrics today for fiscal year 2007. In Q2, there was an increase in net tonnage, total transits and booking slot utilization. There was also an increase in official accidents. Canal Waters Time (CWT), the average time it takes a vessel to transit the Canal including waiting time for passage, decreased. These metrics are based on operations from January through March of 2007
Asian Panamax rates for dry bulk cargo are likely to ease further this week on soft demand for mineral and grain shipment, with many spot vessels available for hire in the market. "There have been few fresh spot inquiries by charterers," said a shipping broker. "In addition to this, the Panamax market has been under pressure from an oversupply of spot ships." Panamax rates for freights from the U.S. Gulf to Japan were indicated at $21.50-$22.00 a ton for March shipment, against $23
CMA CGM has signed a Memorandum of Understanding for the expansion in Kingston of its future central hub in the Caribbean The CMA CGM Group is pleased to announce the signing of a Memorandum of Understanding (MOU) for the operation, equipment and expansion of the Gordon Cay Container Terminal in the Jamaican port of Kingston, for a minimum period of 35 years. The project to develop the terminal will be based on the existing facilities.
The Panama Canal Authority (ACP) Administrator Jorge L. Quijano has met with the Union of Greek Shipowners, the International Association of Independent Tanker Owners (INTERTANKO) and the International Association of Dry Cargo Shipowners (INTERCARGO) to discuss the waterway's toll structure when
The final in a series of five Canada Steamship Lines' (CSL) state-of-the-art, new Trillium Class self-unloading Panamax vessels, the 228-meter long CSL Tacoma, embarked on her maiden voyage from the Chengxi Shipyard in Jiangyin, China on Oct
Power and automation technology group ABB won two orders in the third quarter to provide the waste heat recovery systems, each powered by a power turbine generator (PTG), for 14 new 8,800 TEU (twenty-foot equivalent unit) container vessels.
The U.S. Department of Transportation’s Maritime Administration (MARAD) today released a study on shipping patterns and industry costs that will help the United States prepare for the anticipated impact on its ports, waterways and intermodal freight systems from the Panama Canal expansion
The Panama Canal has increased its tugboat fleet with the arrival of the first two of 14 tugboats that will improve the waterway’s resources to offer a safer and more efficient service to the global shipping industry. These tugboats will strengthen the Canal’s capacity for the
Trends in asset prices are generally important for vessel owners, banks who lend against them as well as commercial interests who make opportunistic acquisitions in times of depressed asset values. These trends however are for generic vessel types which are generalized from realized data
The Panama Canal has increased its tugboat fleet with the arrival of the first two of 14 tugboats, to strengthen the Canal's capacity for the opperation of a third set of locks. The tugboats are part of a new fleet of 14 that will arrive within the next 12 months from Spain.
The Panama Canal Expansion is moving forward to achieve its goal of enhancing the waterway's capacity. To date, the Program registers a 60.4% progress. "The Panama Canal Expansion will enhance the value of the Panama route," Panama Canal Administrator Jorge L. Quijano said
The Panama Canal Authority (ACP) issued a release reminding customers that vessels arriving at Canal waters, whether for docking or transiting the Panama Canal, must comply with vessel requirements, as stated in the Maritime Regulations for the Operation of the Panama Canal and OP’s Notice
In a major milestone for the Panama Canal Expansion Program, the first four gates for the new locks have arrived from the port of Trieste, Italy to the waterway's Atlantic side on board the semi-submersible vessel 'STX Sun Rise'. "This is an exciting moment for the Panama Canal - the arrival
Jones Lang LaSalle is to market Macalloy Port Terminal in Charleston, SC for private investors and operators. The privately-owned, 115-acre Macalloy Intermodal Terminal in North Charleston is being developed to complement South Carolina’s port system
Per Gullestrup is to retire from the Copenhagen-based diverse fleet shipowners, effective September 2013 but will remain a partner in Clipper Group. Frank G. Jensen Partner & Chairman Clipper Group said: "Per has been with Clipper Group since 1978
In his State of the Port address, Georgia Ports Authority Executive Director Curtis Foltz reported record cargo volumes, an influx of new business, and more than 1 million square feet of distribution center space leased or developed. “Not only did the ports authority achieve strong
In Savannah visit, Georgia officials accompany Vice President. After touring the Port of Savannah Monday, Vice President Joe Biden called for expediting port improvement projects on the U.S. East Coast. U.S. Secretary of Transportation Anthony Fox, Senators Saxby Chambliss and Johnny Isakson
Significantly rising rates for Capesize vessels began in late September to spread to Panamax vessels, and gradually also to the smaller vessel types. Citing a recent Sydbank market analysis, Maritime Denmark, notes signs of a noticeably better dry cargo market.