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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 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


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 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


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.


Softer Panamax Rates Drag Down Baltic Index Slightly

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged down slightly on Monday as rates for panamax vessels fell. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, fell one point, or 0.19 percent, to 512 points. The panamax index, which tracks vessels usually carrying coal or grain cargoes of about 60,000 to 70,000 tonnes, fell 2 points, or 0


Asia Dry Bulk-Capesize Rates Steady

Brazil-China capesize rates hit seven-month high; Pacific capesize market dragged by buoyant tonnage supply. Freight rates for capesize bulk carriers are likely to hold steady next week although a rush of cargo in the Atlantic would again provide the trigger for rates to move higher


Asia Dry Bulk-Capesize Rates Could Soften

Capesize market "overheated" as rates near eight-month highs; optimism for a busier fourth quarter looms. Freight rates for capesize bulk carriers are likely to take a breather and drift lower after climbing to their highest level in nearly eight months this week following bad weather


Asia Dry Bulk-Capesize Rates Steady at 8-month High

Freight rates climb after BHP-led charter flurry; tight tonnage supply bolsters capesize freight rates. Freight rates for capesize bulk carriers could hold around current levels after reaching their highest in more than eight months this week following a surge of fixtures by Australian miners


Market Weighs on Asia Dry Bulk-Capesize Rates

Tonnage list grows in Pacific, Atlantic oceans; lack of coal cargoes weigh on freight rates. Freight rates for capesize bulk carriers are set to slide further next week, after falling to their lowest level in five weeks, due to a mounting supply of tonnage and uncertain cargo demand


Golden Ocean Reshuffles Fleet, Delays Newbuilds

Courtesy of Golden Ocean Group Limited

  Golden Ocean Group Limited has entered into several agreements concerning its fleet. Golden Ocean has agreed with Ship Finance International Ltd ("Ship Finance") a sale leaseback transaction of eight Capesize vessels currently owned by Golden Ocean.


SFL Acquires Eight Bulk Carriers from Golden Ocean

Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today.   The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia


Scorpio Bulkers Sells Three Vessels

Photo:  Scorpio Bulkers

 Scorpio Bulkers has agreed to sell two new capesize bulk carriers and an ultramax for a combined $111m to an unknown buyer.   The two capes are currently under construction in China and in South Korea, and will be delivered between Q3 2015 and Q2 2016.   


SC Ports Projects 7% Container Growth

Photo: SCPA

Following a record-setting month of container volumes achieved in May, the South Carolina Ports Authority (SCPA) board of directors looked ahead to a favorable 2016 fiscal year today with the adoption of a financial plan that includes continued cargo growth


Poseidon to Go Public

Image: New York Stock Exchange

 Poseidon Containers Holdings, a private equity backed containership operator with an initial fleet of 18 vessels, has filed for an initial public offering.    It plans to raise $100 million, which is likely only a placeholder as Poseidon has not specified the number of shares to


Panama Canal Expansion Could Shift US Container Traffic

Photo: SCPA

Following the Panama Canal expansion in 2016, up to 10 percent of container traffic to the U.S. from East Asia could shift from West Coast ports to East Coast ports by 2020, according to new research conducted by The Boston Consulting Group (BCG) and C.H. Robinson


The Hour of the Wolf for Panamaxes - Platts Report

Shipowners operating in the trans-Atlantic dry bulk

Shipowners operating in the trans-Atlantic dry bulk market, where prices have been plumbing two-year lows on the back of acute vessel oversupply and shifting patterns in minerals demand, could be facing brighter days, according to the latest special report released by Platts


Star Bulk Sells Star Christianna

  Star Bulk Carriers Corp., a global shipping company providing transportation solutions in the dry bulk sector, today announced the sale of M/V Star Christianna (a 74,577 dwt Panamax vessel, built in 1998) to an unaffiliated third party.


Charleston Harbor Deepening Gains Federal Approval

U.S. Army Corps of Engineers Civil Works Review Board Moves 52-Foot Deepening Project Forward   Today in Washington, DC, the U.S. Army Corps of Engineers Civil Works Review Board (CWRB) unanimously approved the Final Integrated Feasibility Report and Environmental Impact Statement for the


Charleston Harbor Deepening Gets US Funding

Charleston Harbor deepening project earns key federal funding for preconstruction engineering and design; U.S. Army Corps of Engineers allocates $1.303 million in federal funding for Post-45 Harbor deepening project   Today SC Ports Authority announced $1


Redwood City Proposes Port Deepening Project

Photo: Port of Redwood City

Recommended $73 Million Plan for Redwood City Navigation Improvement Program; Public Hearing Set for August 10   A recommended $73 million plan to deepen the Redwood City Harbor and San Bruno Shoal channels, the navigation corridors essential for commerce and the Port of Redwood City






 
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