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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.


New Gate Transits the Panama Canal

Photo courtesy of the Panama Canal

The first gate for the new locks in the Pacific side began transit Wednesday morning through the Panama Canal, signaling another historic milestone in the progress of the Expansion Program. The gate transits the waterway aboard the Crowley 455-4 barge from the Atlantic temporary dock to the


Final Gates Shipment Arrives to Panama Canal

Photo: Panama Canal Authority

The final shipment of gates has arrived to the Panama Canal today for the new locks as part of the canal’s expansion project. The four gates arrived on board the Post-Panamax vessel Xia Zhi Yuan 6 owned by COSCO Ocean Shipping, after a 25-day voyage from the Port of Trieste in Italy


Final Panama Canal Gate Transits

Final Gate Transits the Panama Canal for the New Locks in the Pacific

The Panama Canal Expansion has completed today the transfer of all gates belonging to the new locks of the Expansion in the Pacific side.   The last gate that transited today completes the transfer of the eight gates to the Pacific construction side


Final Gate Transits the Panama Canal for New Locks

Tránsito de última compuerta al Pacífico.JPG

The Panama Canal Expansion has completed today the transfer of all gates belonging to the new locks of the Expansion in the Pacific side. The last gate that transited today completes the transfer of the eight gates to the Pacific construction side


Mercator Lines Profit Hit by Low Bulk Freight Rate

Bulk carrier fore-deck: Image courtesy of Mercator Lines

Mercator Lines (Singapore) reported a revenue of US$ 16.5 million for Q1 2015, an increase of 19% as compared to correspoding period in the previous previous year, however a net loss of US$ 7.1 million for the quarter as against a loss of USD 6


Asia Dry Bulk Capesize Rates Stay Flat

Bulk carrier anon: File photo

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from


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


Navios Maritime Reports Better Revenues for 2Q & 1H, 2014

Angeliki Frangou, Chairman of the Board and Chief Executive Officer

  Navios Maritime Holdings Inc. a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the second quarter and six months ended June 30, 2014. Revenue $145.4 million Revenue for Q2 2014; $267.6 million for H1 2014 Adjusted EBITDA


The Vigorous: Investing in the Future

Artists Depiction: The Vigorous is the largest floating drydock in the United States

The largest floating drydock in the United States, the Vigorous, has arrived at Vigor Industrial’s Portland shipyard. What’s happening? Vigor Industrial’s new floating drydock, the Vigorous, is headed towards Portland. See our news release for details of arrival.  


Panama Canal Receives Third Shipment of Gates for Expansion

Photo: Panama Canal Authority

The third shipment of four gates for the new locks of the Panama Canal Expansion has arrived to the Atlantic entrance of the waterway, the Panama Canal Authority announced The four gates arrived Sunday on board the Post-Panamax vessel Xia Zhi Yuan 6 owned by COSCO Ocean Shipping


First Damen Crane Barge to head to Uruguay

 Damen Crane Barge

  Damen Shipyard Group’s new transshipment Crane Barge (CBa) 6324 has got off to a strong start, with an order for the first unit from a client in Uruguay. The barge features the proven Liebherr CBG 350 crane as standard and on this occasion has been outfitted with a unique mooring


Charleston Harbor to be Deepened

the South Carolina Ports Authority operates the state’s vital seaport assets in Charleston and Georgetown

  Today the US Army Corps of Engineers released the Draft Integrated Feasibility Report and Environmental Impact Statement for the Post-45 Harbor Deepening project, recommending that the Charleston Harbor be deepened to 52 feet. "The Port of Charleston's ability to handle


Panama Canal Takes Last Tugboat of New Fleet

Cerro Ancon

The Panama Canal has  received  Cerro Ancon, the last of the 14 tractor tugs of its new fleet. These new tugboats will allow the Canal to offer a more efficient service to the global shipping industry and strengthen the waterway's capacity for the operation of the Third Set of Locks.


Puerto Rico Announces Plan for Port of the Americas

Port of Ponce Authority actively seeking international port operator Puerto Rico announced today that it is looking for a major international port operator to partner with on the development of the Port of the Americas, located in Ponce, on the southern coast of the island


'New Tango' Brings More Post-Panamax Ships to Charleston

The Monte Rosa, a 5,560 TEU Hamburg Süd vessel, calls the Wando Welch Terminal for the first time today as part of the New Tango East Coast South America service.

New service expands Port of Charleston's capacity to serve North-South trade The SC Ports Authority today received the first ship call of a new consolidated East Coast South America service that brings additional post-Panamax vessels to Charleston.






 
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