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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 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

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

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)


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.

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

The Malta-flag bulker XL has been taken under tow by a tug and is bound for Singapore, Reuters reported. The 150,661-dwt bulker had been drifting off northwestern Australia after an engine room fire in which two crew members died on November 10.

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.

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.

Ship Operating Costs Down in 2014 -Moore Stephens

Photo: Andrew Aiello

Total annual operating costs in the shipping industry fell by an average of 0.8 percent in 2014, said international accountant and shipping consultant Moore Stephens. This compares with the 0.3 percent average fall in costs recorded for 2013

MOL's Vessel Safety Campaign Launch Tomorrow

Scene from the previous campaign

  Mitsui O.S.K. Lines, Ltd. today announced the launch of its biannual vessel safety campaign on October 1, targeting all MOL-operated vessels. The current campaign centers on prevention of onboard fires. MOL positions safe operation as a social commitment and the highest priority in all

Scorpio Services Holding Ups Stake in Scorpio Bulkers

Photo: Scorpio Bulkers

Scorpio Bulkers Inc. announces purchase of 1,436,352 common shares by Scorpio Services Holding Limited    Dry bulk commodities shipper Scorpio Bulkers Inc. announced today that Scorpio Services Holding Limited has purchased an aggregate of 1,436

Denmark's Torm Sells Two Vessels, Exits Dry Bulk Shipping

Danish shipping company said on Wednesday it has sold two dry bulk vessels to an undisclosed buyer and will hand back a leased bulker at the beginning of October, marking its exit from the dry bulk shipping industry. Torm Anholt and Torm Bornholm are both so-called Panamax vessels and both

NYK’s SIMS Wins Special Award

Award Presentation

  The Ship Information Management System (SIMS) jointly developed by NYK and the Monohakobi Technology Institute has been recognized with a special award from the Japan Institute of Navigation. An awards ceremony was held on July 27, 2015, and attended by Koichi Akamine

Scorpio Services Holding Buys Scorpio Bulkers Shares

Dry bulk commodities shipper Scorpio Bulkers Inc. announced today that Scorpio Services Holding Limited purchased an aggregate of 500,000 common shares of the company in the open market last week at an average price of $1.71 per share.  

Prosafe Signs First Contract for Safe Notos

Owner and operator of semi-submersible accommodation vessels Prosafe announced it has signed a contract with an undisclosed client for the provision of an accommodation vessel in the U.K. sector of the North Sea.   The contract firm period commitment is over eight months and will involve an

NYK Hosts Safety Conference

NYK hosted a safety promotion conference for shipowners and ship-management companies at the NYK head office

Over three dates in July, NYK hosted a safety promotion conference for shipowners and ship-management companies at the NYK head office in Tokyo and at Imabari city in Ehime prefecture. This conference is held every year as part of the “Remember Naka-no-Se” safety campaign

SAFE Boats Wins USN Patrol Boats Order

Mk VI Patrol Boats

  SAFE Boats International (SBI) has been awarded a contract modification to provide the United States Navy two (2) additional Mk VI Patrol Boats (Mk VI PB). The contract modification exercises the options available on the second Mk VI procurement contract

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

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

MOL Renames Group Ship Management Co.


  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

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

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

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

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