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Safe Bulkers

Olivier Named UK Club Chairman

Alan Olivier, the new Chairman and President of the UK P&I Club

Alan Olivier was elected Chairman and President of the UK P&I Club at their board meeting in Bermuda on October 28. He succeeds Dino Caroussis who has retired from the board. Mr. Olivier, 53, Chief Executive Officer of Grindrod Limited, became a Director of the UK Club in 2000 and a Deputy Chairman in 2006. Mr. Caroussis, 61, of Chios Navigation, had been the Club’s Chairman for the past five years, having joined the board in 1996 in the shipping division. He held senior treasury and financial positions before his appointment as chief executive of Unicorn Shipping in 1995. He was appointed to the Grindrod Limited board in May 1999, where he is now chief executive. Alan is a director of local and international subsidiary companies, including Grindrod Bank Limited. Following the Club’s Annual General Meeting seven new Directors joined the UK board. They are Sheikh Talal Al-Khalid Al Sabah of Kuwait Oil Tanker Company; Angela Chao of Foremost Group, New York; Michael Fostiropoulos of Almi Tankers; Polys Hajioannou of Safe Bulkers, Athens; Edouard Louis-Dreyfus of Louis Dreyfus Armateurs, Paris; Paul Wogan of Gaslog, Monaco; and Riad Zein of Naftomar Shipping & Trading, Athens. Sheikh Talal Al Khalid Al Sabah is the Chief Executive Officer of Kuwait Oil Tanker Company in Kuwait. He joined Kuwait Oil Company in 1983 after graduating in business administration and gained his MBA in 1986


Safe Bulkers Close Series B Preferred Shares

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today the closing of its previously announced public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share at a price of $25.00 per share. The company also announced the closing of its previously announced private placement of 800


Ships Reported Sold

Bulker, Reliance Ocean - (built 1980) 194,399 dwt sold for $8 million. Bulker, Lucky Bulker - (built 1977) 70,600 dwt sold for $2.1 million. Bulker, Coral Halo - (built 1995) 45,320 dwt and sistership Flaxen Halo (built 1997) 47,240 dwt sold for $34 million en-bloc. Bulker, Pacific Splendour - (built 1984) 41,373 dwt sold to Apex for $7.8 million. Tanker, Presidente Rivera - (built 1981) 87,325 dwt sold for $6.1 million.


Bulker Under Tow Off Brazil

Arrangements are being made to take the Maltese-flagged bulker Olympus, now off Brazil, under tow, Reuters reported. The 34,995 dwt bulker was involved in a collision with the Brazilian-flagged bulker Sao Sebastiao, close to Tramandai, south Brazil, on May 30. Olympus, laden with 27,000 tons of wheat, will be towed to an as yet unknown port. - (Reuters)


Shipsales

Tanker Sentinel - (built 1986) 106,722 dwt sold for $14.4 million. Tanker Bow Explorer - (built 1975) 31,501 dwt sold to Vulcanus for $4 million. Tanker Jo Breid - (built 1981) 26,300 dwt sold to Norwegian buyers for $7.5 million. Bulker Red Rose - (built 1978) 75,720 dwt sold for $2.35 million. Bulker Lionsgate Bulker - (built 1996) sold to London based Greek buyers for $18.25 million. Bulker Litrotis - (built 1981) 64,120 dwt sold at auction in Singapore for $3.5 million.


Safe Bulkers Announce Public Offering

Safe Bulkers, Inc., an international provider of marine drybulk transpor tation services, announced that it plans to offer its Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share to the public. In connection with the public offering, the company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Shares


Bulker Runs Aground

The Liberia-flag bulker Golden Bay carrying a cargo of steel, ran aground at the entrance to the Dardanelles, Turkey, on May 14, Reuters reported. The 25,599 dwt bulker was to make an attempt at refloating itself. Golden Bay had been on a voyage from Novorossisk, Russia to Piraeus, Greece.


Bulker Remains Aground

The Panama-flag bulker Captain George Tsangaris was still aground on Round Island near Trincomalee in Sri Lanka on May 15, Reuters reported. It was believed that its cargo would have to be transhipped before it could be refloated. The 61,349 dwt bulker had been due to berth at the Prima Jetty to discharge its cargo of 52,653 tons of wheat when it ran aground. Some water had entered the vessel but there was no report of any damage to the cargo.


Bulker Refloated

The St. Vincent and Grenadines-flagged bulker Pooja, was refloated on October 30 at Carrick roads by a tug and then towed to Falmouth, England, Reuters reported. No pollution was reported. The 33,111 dwt bulker ran into trouble after it started to drag its anchor in bad weather. It did manage to raise its anchor but subsequently ran aground on Monday in the entrance to Carrick roads.


Bulker Under Tow

The Panamanian-flagged bulker Flame was taken in tow by a salvage tug on August 8, after suffering main engine failure in the mid-Atlantic on August 4. The 29,212 dwt bulker was last reported proceeding in the direction of Trinidad.


Motion Compensation Solution for Solan Field

First landing West of Shetland (Photo: Ampelmann)

Ampelmann provides access solution for commissioning of the Solan project in West of Shetland   Motion compensated access solutions developer Ampelmann informs it  will provide one of its offshore access solutions to enable ‘walk to work’ for a commissioning campaign on


MOL Renames Group Ship Management Co.

Logo

  Mitsui O.S.K. Lines, Ltd. announced today that effective July 2, its wholly-owned ship management company for dry bulkers, New Asian Shipping Company, Limited is renamed to MOL Ship Management (Hong Kong) Company, Limited. MOL Ship Management (Hong Kong) Company


SAFE Boats Bags Homeland Security Order

Image: SAFE Boats

Production of Customs and Border Protection’s coastal interceptor vessels to commence immediately   SAFE Boats International informs it has been awarded a contract from U.S. Department of Homeland Security, Customs and Border Protection (CBP) to build up to 52 coastal interceptor


Is It Too Late To Tangle With Spike in Shipping Market

Graph: Clarksons Research

 A series of interesting and extreme price spikes is going on in the shipping market today, says Clarksons, provider of global shipping and offshore market intelligence.   In fact the latest in a series of interesting and extreme price spikes is going on in the shipping market today


MOL President Reports Slack Performance

President, Koichi Muto

MOL President, President, Koichi Muto reported that the performance of the company was slack.   Muto reported, "I am sad to report that our business performance fell short, and we could not achieve our initial target of ¥70 billion in consolidated ordinary income


Two New Patrol Boats for Tunisian Navy

Photo: SAFE Boats International

SAFE Boats International informs it has recently completed an order for two SAFE 65-Foot Full Cabin Inboard Boats for the Tunisian Navy.   The first boat has recently arrived in Tunisia and the second boat is in the process of being delivered, the builder said.   


Marathassa Released After Vancouver Bunker Spill

Marathassa: Western Canada Marine Response Corporation crews replacing oiled boom with clean (yellow) containment boom. Pic courtesy: Fisheries and Oceans Canada

 The Cyprus-flagged  cargo ship M/V Marathassa — which has been blamed for spilling several thousand litres of bunker fuel into English Bay — has been released by the Canadian Coast Guard.   The vessel headed to a berth in Vancouver Harbour to be loaded with grain


Scorpio Bulkers Sells Three Newbuilds for $111m

Scorpio Bulkers Inc. announced that it has entered into agreements to sell three newbuild dry bulk vessels, including two Capesize ships and an Ultramax ship, for approximately $111 million in aggregate. The Capesize vessels are currently being constructed in China and South Korea


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.   


Dry Bulk Carriers Orders "Dryingā€¯ Up?

Graph: Clarkson Research Services Limited.

 Dry bulk orders have fallen to the lowest level since the 1990s to 0.4m dwt per month showing a massive 98% reduction from the 23m dwt peak in orders in December 2007, and probably the sharpest decline in recent decades.   


Panama Canal Sees Record Grain, Salt Cargoes

Photo: ACP

From October 2014 through March 2015, cargo shipments in dry bulkers through the Panama Canal increased by 8 percent, equaling 66 million long tons in total.    During this time, the Panama Canal registered more than 2,008 transits of dry bulkers


Bangladesh at Front of Shipbreaking Activity

Graph: Clarkson Research Services

 There has been a firm level of ship demolition activity in the first four months of 2015 and the two largest owner regions, Asia/Pacific and Europe account for 88% of the tonnage sold for recycling, according to the latest review of shipbreaking trend by Clarkson Research.    


LR to Class Entire NORDEN Fleet

Nord Mermaid (Photo: Norden)

Thirty-two ships will be transferred to Lloyd’s Register Class as part of the agreement that covers 57 ships including NORDEN’s entire fleet   Ship operator Dampskibsselskabet NORDEN A/S, based in Copenhagen, has contracted LR to class 57 ships


ISO Certification for MOL Ship Management Company

Certificate presentation ceremony in Manila

  Mitsui O.S.K. Lines, Ltd., today announced that its group ship management company for dry bulkers, Magsaysay MOL Ship Management, Inc. has acquired certifications from Nihon Kaiji Kyokai, for Energy Management Systems (ISO50001*1) and Environmental Management Systems (ISO14001*2) on June 18


Scorpio Bulkers Charters Out Newbuild Bulker

Dry bulk marine transport provider Scorpio Bulkers Inc. announced today that it has agreed to time charter-out the SBI Montesino, a Capesize vessel that is currently under construction in South Korea with delivery expected in July, 2015. Upon delivery from the shipyard






 
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