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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


WWL Launches Post Panamax Vessel

Wallenius Wilhelmsen Logistics launched the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels, M/V Thermopylae.   The Thermopylae was built at the Hyundai Samho Heavy Industries shipyard in Mokpo, South Korea


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


SC Ports Record 18% Container Volume Increase

Photo: SCPA

The South Carolina Ports Authority reports 18 Percent Increase in container volume at SC ports; new breakbulk service announced; Vice President, Secretary of Transportation visit   The SC Ports Authority handled 152,917 twenty-foot equivalent units, or TEUs, in January


RoRo Ship Enters Operation for WWL

M/V Thermopylae

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels. Measuring in at 36.5 m wide and 199.99 m long the Thermopylae provides the right capacity and fulfils WWL’s frontrunner


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


Panama Canal Board Approves New Port Plans

Photo: Panama Canal Authority

State-of-the-art facility in Corozal receives green light from canal’s board of directors   The Panama Canal board of directors this week formally approved the development and construction of a transshipment port in Panama’s Corozal region


Panama Canal to Develop New Port

Panama Canal Board of Directors Approves Development of New Port

  The Panama Canal Board of Directors this week formally approved the development and construction of a transshipment port in Panama’s Corozal region. Upon completion, the port will have the capacity to handle more than five million TEUs within a 120-hectare area at the Canal’s


Charleston Harbor to Be Deepened

SC Ports Authority, Lowcountry Open Land Trust, Coastal Conservation League and Southern Environmental Law Center Announce Milestone Agreement for Harbor Deepening  Collaboration benefits land conservation efforts along Cooper River Corridor   


Vizag Port Completes Phase 1 Dredging

Visakhapatnam Port has completed first phase of dredging in the Inner Harbor to handle vessels with deadweight tonnage of 60,000 without lightening.    The Port has achieved a 12.5 m draft and 14 m depth in the inner harbor, facilitating the handling of Panamax vessels


South Carolina Container Volumes Climb in 2014

Photo: SCPA

The South Carolina Ports Authority (SCPA) reported that container business rose 12 percent in 2014, a year highlighted by strong volume growth and substantial forward progress on the harbor deepening project.   In December the port handled 141,956 twenty-foot equivalent units (TEUs)


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.


ADM to Sell 50% Stake in Brazil Export Terminal to Glencore

U.S. agribusiness company Archer Daniels Midland Co has agreed to sell a 50-percent stake in its Barcarena grain export terminal in northern Brazil to commodities trader Glencore PLC, the company said during an analyst call on Tuesday.  


d’Amico Group Launches its Largest Ship

Photo: d’Amico Group

Italian shipowner d’Amico Group today celebrated the delivery and naming of its new handy-cape type vessel, Cielo d’Italia, a ship that it labeled as “the largest and most innovative ship in the history of the group.”  


Port of New York/New Jersey Reports Cargo Record

Photo: Maher Terminals

The Port Authority of New York and New Jersey announced that annual cargo volumes in the port set a new record in 2014, surpassing the previous record set in 2012.   The port said it handled 3,342,286 cargo containers in 2014, an increase of 5.4 percent over the previous year and 4






 
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