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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 Containerships Sells Panamax Ship for Scrap

Hanjin Malta (Photo: Diana Containerships)

Shipping company Diana Containerships Inc. has, through a separate wholly-owned subsidiary, signed a Memorandum of Agreement to sell to an unaffiliated third party the 1993-built vessel Hanjin Malta for demolition, with delivery due to the buyer by the end of March 2016, for a sale price of approximately $5.04 million before commissions. Upon completion of the aforementioned sale, Diana Containerships Inc


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


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


Baltic Index Up on Firmer Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by stronger demand for capesizes and smaller shipping vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 11 points, or 1.56 percent to 715 points.   The capesize index, rose 25 points, or 2.2 percent to 1,160 points, its highest in almost six 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


Baltic Index Flat, Rates for Bigger Vessels Rise

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, remained unchanged on Thursday, even as rates for capesize and panamax vessels rose. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was flat at 579 points. The capesize index rose 11 points to 724 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal


Baltic Index Rises on Panamax Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday as higher demand boosted rates for panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 4 points, or 0.58 percent, at 692 points.   The capesize index fell 15 points, or 1.43 percent, to 1,034 points.   Average daily earnings for capesizes, which typically transport 150


Shift in Shipping Market Direction

Graphs: Allied Shipbroking

It has been a year full of turmoil and poor market performance in the shipping markets, yet over the past couple of months both sentiment and real market direction has shifted and along with this so have asset prices of secondhand tonnage, says Allied Shipbroking Weekly Market Report.  


A Painful Shipping Record – Vessel Scrapping

file image: Marad

More containership capacity is being demolished than ever before, including old-design ships made redundant by the new Panama Canal. Drewry checks if this end the current capacity surplus?   Now is not a good time to own an old containership


Capesize, Panamax Vessels Drag down Baltic Index

file image: a so-called ValeMax Bulk Carrier (Vale)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Asia Dry Bulk-Capesize Owners Remain Confident

File Image: typical bulk carrier underway (BSM)

Number of idle ships down to around 15, from 70 in early 2016 - broker. Freight rates for large capesize dry cargo ships on key Asian routes could nudge lower next week although they are generally expected to remain around the current levels, ship brokers said.


Demand, Bunker Pricing Spurs Asia Dry Bulk-Capesize Rates

File Image: a bulk carrier underway (Credit: BSM)

Owners asking $1 per tonne more on Australia-China rates; Panamax rates climb to two-month high, but remain under pressure. Freight rates for large capesize dry cargo ships on key Asian routes could continue to firm next week on higher cargo volumes and bunker prices


MOL Benefactor - First Neo Panamax Containership Transits Expanded Canal

MOL Benefactor transits through the new canal Photo MOL

Mitsui O.S.K. Lines, Ltd.  today announced that the MOL Benefactor, a 10,000-TEU containership has successfully passed through the expanded Panama Canal on July 1, 2016. This is significant in that the MOL Benefactor is the first Neo-Panamax containership to perform a commercial transit


WSS Assists Avance Gas Vessels Transit Panama Canal

Steffen Langlette Photo WSS

Wilhelmsen Ships Service (WSS) is moving to ensure that its customers’ vessels pass through the new Panama and Suez Canals with the optimum efficiency, speed and safety thanks to a fresh Ships Agency ‘canal transit’ solution


Baltic Index Continues Rise on Stronger Panamax Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its rise on Wednesday on higher demand for panamax vessels, partially offset by a fall in capesize demand.   The overall index, which factors in rates for capesize, panamax


Higher Panamax Demand Boosts Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday on increased demand for panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up five points, or 0


Panama Canal Extension May Be Bad for Some Shippers

Photo: Panama Canal Authority

The newly inaugurated Panama Canal may not be as beneficial as it seems for container ship carriers, says Xeneta, a benchmarking and market intelligence platform for containerized ocean freight.   Although the new sets of locks and deeper


Asia Dry Bulk Capesize Rates to Climb

File photo: Aurelie Moulin

Freight rates for large capesize dry cargo ships on key Asian routes could move higher next week on a potential ship shortage, higher cargo volumes and storms in China that could disrupt sailing schedules leading charterers to scramble to fix replacement tonnage, ship brokers said.  


Baltic Index Rises on Strong Demand for Panamax Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose further on Friday due to strong demand for panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Can You Farm Fish Inside a Cargo Ship?

Photo: Marine Harvest ASA

 The world’s biggest Atlantic salmon producer wants to start farming fish inside a ship – and the idea has merit, says a report in IOL.   Building traditional fish farms on the open water in Norway has become almost impossible because of state rules intended to curb


Baltic Index Rises on Higher Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose slightly on Monday on higher rates for panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up one point


Iron Ore Surge Could Boost Asia Bulk Capesize Rates

Freight rates for large capesize dry cargo ships on key Asian routes could rise next week on higher volumes of iron ore cargoes, ship brokers said.   "It's a bit more positive, optimistic next week," a Singapore-based capesize broker said on Thursday.  






 
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