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Panamax Vessels

Dryship Fleet Renewal Continues

  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 MV Boston Chartered by Clearlake

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


Five Panamax Ships Transit Gatun Locks

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 Charter for the Tiara Globe

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


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


Diana Shipping Announces Delivery of M/V Baltimore

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


Evergreen Orders Post-Panamax Vessels from MHI

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


ACP Releases Second Quarter Metrics

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


Panamax Rates Likely To Ease

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 signs MoU for expansion in Caribbean

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.


Georgia Increases Funding for Port Deepening

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Deal to Sign Budget with $35M More for Port Deepening; State has allocated $266 million to Savannah Harbor Expansion The $35 million in additional port deepening funds proposed by Georgia Gov. Nathan Deal has been approved by the state legislature and now awaits the governor’s signature


Scorpio Bulkers Continue to Think Big with New Orders, Charters

Photo courtesy of Scorpio Bulkers

Monaco-based Scorpio Bulkers Inc. says it has signed agreements to purchase 5 Capesize dry bulkships from South Korea shipyards for a total of US $306 million, and has entered into charter party contracts as set out below: Newbuildings Yard         &n


Baltic Freight Index Down, Capesize, Panamax Rates Fall

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an eighth consecutive session on Thursday as rates for capesize and panamax vessels continued lower. The overall index, which factors in the average daily earnings of capesize


NewLead to Acquire Two Panamax Dry Bulk Vessels

NewLead Holdings Ltd announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million. The two vessels are expected to be delivered to NewLead's fleet within the next three


Clipper Group's Per Gullestrup Retires

Per Gullestrup: Photo credit Clipper Group

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


GPA adds Cargo, Customers in FY2013

Georgia Ports Authority Executive Director Curtis Foltz addresses more than 1,200 attendees during the 2013 State of the Port address, Thursday, Sept. 12, 2013 in Savannah, Ga.

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


Biden: U.S. Harbors Must be Deepened

GPA Board Chairman Robert Jepson, Atlanta Mayor Kasim Reed, and GPA’s Executive Director Curtis Foltz in front of the Maersk vessel Atlanta, Monday at the Georgia Ports Authority’s Garden City Terminal. The officials gathered just before Vice President Joe Biden shared remarks at the Port of Savannah. (GPA photo/Luke Smith)

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


Better Capesize Rates Filter Down to Smaller Bulkers

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.


Panama Canal Expansion: Future Toll Structure Discussed

Photo courtesy of ACP

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


CSL Tacoma Calls at Port of Redwood City

CSL Tacoma

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


ABB Wins $23 Million Orders for 14 Containerships

Photo: ABB

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.


MARAD Examines Impacts of Panama Canal Expansion

Chip Jaenichen

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


Louisiana Cargo Transfer Terminal Approved

A.G. Crowe

Approval clears way to create nation’s largest deepwater containerized cargo transfer terminal, enhancing U.S. competitiveness as Panama Canal expands. Transshipment facility off Louisiana coast intended to improve America’s strained shipping infrastructure


Navios Announces Panamax Vessel Delivery

Navios Maritime Partners L.P., an owner and operator of dry cargo vessels, has announced  that the Navios Sun, a 2005-built panamax vessel of 76,619 dwt, was delivered to Navios Partners' owned fleet on January 17, 2014. The Navios Sun has been chartered out to a high quality counterparty


NewLead Buys Two Bulk Carriers

NewLead Holdings Ltd. announced that it has executed definitive agreements for the acquisition of two eco-type 31,800 dwt, Handysize bulk carriers built in 2012 for a total acquisition price of $37 million. The two eco-type vessels are expected to be delivered in NewLead by the end of June and


 
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