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Ship Bulk

UltraStrip Signs Agreement with BAE Systems

UltraStrip Systems, Inc. announced the signing of a five year exclusive agreement with BAE Systems ship yard subsidiaries in San Francisco and San Diego to provide its patented robotic automated waterjetting technology equipment and services. UltraStrip's robotic technology will perform high speed coating removal services to the shipyard's customers, including U.S. Navy vessels, oil tankers, cruise ships, bulk carriers, and container ships. BAE Systems San Francisco and BAE Systems San Diego are subsidiaries of BAE Systems Ship Repair, Inc., a group of companies owned by U.K. based BAE Systems.


Northrop Grumman Introduces New ECDIS-E

Northrop Grumman Corporation is introducing the VisionMaster FT Electronic Chart Display and Information System-E (ECDIS-E), a new cost-effective navigation solution for commercial tankers, container ships, bulk carries and passenger ferries including retrofit installations. Based on the Northrop Grumman Sperry Marine VisionMaster FT platform, the new ECDIS-E combines an optimized feature set with easy to install hardware


COSCO Signs Contracts with Four Shipyards

Xinhua reported that COSCO Group, China's leading shipping and logistics service provider, inked in Boao, Hainan Province on Saturday contracts with four domestic shipyards to build 66 ships. Zhang Fusheng, a COSCO spokesman, did not disclose the total value of these shipbuilding contracts but said they summed up to a record amount for the shipping giant. The move is to help meet China's strong demand for shipping as the country's fast economic development gives rise to more imports of


Sperry Marine Gets Contract

The U.S. Naval Sea Systems Command has awarded a contract to Northrop Grumman Corporation  to supply integrated bridge systems (IBS) for three U.S. Navy cruisers. The indefinite-delivery indefinite-quantity contract, valued at $2.72m, was awarded to Northrop Grumman’s Sperry Marine business unit. Under the contract, the new-generation IBS, running on Sperry Marine’s Voyage Management System (VMS) software, will be back-fitted onto three guided-missile cruisers (CG).


American Club Expands E-Learning Offering

The American P&I Club has added to its library of e-learning modules released in cooperation with IDESS IT in the Philippines. The new module covers compliance with The Code of Practice for the Safe Loading and Unloading of Bulk Carriers (BLU Code). The aim is to familiarize members and their crews with the code’s requirements for bulk carriers, terminal operators and other parties involved in the safe handling of solid bulk cargoes.


Thoresen Shipping goes to Middle East

Thoresen Shipping

 The dry bulk shipowner Thoresen Shipping rolled out new subsidiary Thoresen Shipping Arabia as part of its expansion plan to the Middle East  With a new office in Dubai for Thoresen Shipping Arabia DMCC, the dry bulk shipping company  Thoresen Shipping announced its explansion to the Middle East. The office will be led by Baard Osland, a dry bulk shipping industry veteran. A press statement from Ian Claxton, managing director


Eagle Bulk Shipping Takes Delivery of Supramax Drybulk Vessel

Eagle Bulk Shipping, Inc., a global marine transportation company specializing in the Supramax segment of the dry bulk shipping industry,announced that it has taken delivery of the Shrike, a 2003 built 53,343 dwt Supramax dry bulk vessel. The Shrike was acquired as part of a three vessel transaction announced on February 28, 2007. The Shrike will immediately commence a 24-27 month charter at a rate of $24,600/day. The charterer has an option to extend the charter period by 12-14 months at a


New Vessels for FESCO to be Built in China

A series of new vessels will be built in China for the Far-Eastern Shipping Company (FESCO). According to reports, the contract on building of four bulk carriers at the Chinese shipyard Quingshan Shipyard in the city Ukhan was made. Every bulk carrier will be 623 x 104 ft., deadweight 57,000 tons. Every vessel will be equipped with four loading cranes. The bulk carriers will work at transportation of bulked cargo - corn, coal, ore, pipes and others.


COSCO Turnover Down on Most Fronts in Q2 2013

The Group achieved net profit attributable to equity holders of $12.0 million on turnover of $890.3 million in Q2 2013, 8.7% down on the same period last year. Group turnover declined by 8.7% to $890.3 million in Q2 2013 from $975.3 million in Q2 2012 due to the decline in dry bulk shipping and shipyard revenue. Turnover from shipyard operations decreased by 8.7% to $877.2 million in Q2 2013 from $960.8 million in Q2 2012 mainly due to lower revenue contribution from ship building and ship


Bulk Carrier Freight Rates Predicted to Peak in 2016

Harald Lone

“A fundamental and sustainable dry bulk market recovery is expected in the second half of 2015 and throughout 2016, when the total dry bulk market balance could peak at 88%, with peaks during the fourth quarter close to 92%. Improved tonnage balance in 2015/2016 should drive up bulk rates.” Harald Lone, Group Chairman, Newport Shipping Group The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment


U.S. Coast Guard Holds Carrier for Violations

Image: U.S. Coast Guard

The U.S. Coast Guard detained the Ikan Sudip, a Panamanian-flagged 600-foot bulk carrier, after discovering significant environmental and safety violations during an inspection in Astoria.   The violations included a failure to use engineering procedures required by U.S


NewLead Announces Time Charter Contract

2009-built tanker vessel Ioli  (Photo: NewLead Holdings)

NewLead Holdings Ltd. has entered into a time charter contract with for one of its recently delivered bitumen tanker vessels, the Ioli, for a minimum of one year. The vessel has already been delivered to the charterer that has the option to extend the time charter contract for up to four


CSD, Cosco JV to Buy Vale's Bulk Carriers

Ma Zehua (Chairman of Cosco Group),  Xu Lirong (Chairman of China Shipping Group) Murilo Ferreira (President&CEO of Vale) and Gurinder Singh(Director of Shipping & Distribution of Vale) attended the Signing Ceremony and signed the agreement on behalf of each party. Photo by Cosco

 China Shipping Development (CSD) and Cosco have established a joint venture (JV), China Ore Shipping Pte., in Singapore to purchase four 400,000 dwt ore carriers from Vale and operate them.   CSD and Cosco’s bulk shipping division Cosco Bulk Shipping holds 49% and 51% equity


ERMA Bullish on Ballast Water Treatment

Photo:  Ermafirst.com

 After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,000t), managed by NIOVIS SHIPPING COMPANY, which was built at Mitsui Engineering & Shipbuilding Co., Ltd


Dry Bulk Shipping to Stay Low

Image by China COSCO Bulk Shipping (Group) Co., Ltd

 Goldman Sachs can't see an end to the dry cargo downturn until at least 2020 on a glut of vessels and stalling cargo growth, says a report in Bloomberg.   Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer.


Diana, Wilhelmsen form DWM

Courtesy Diana Shipping

  Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, and Wilhelmsen Ship Management (“WSM”) today announced that they have established a new 50/50 joint venture named Diana Wilhelmsen Management Limited (“DWM”).


Diana JV with WSM

Aliki Vessel. Photo by Diana Shipping Inc

 Dry bulk shipping company Diana Shipping and Wilhelmsen Ship Management (WSM) have joined forces in a new 50/50 joint venture named Diana Wilhelmsen Management Limited (DWM).   DWM, to be based in Limassol, Cyprus, and will commence operations by the end of June


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.   


Busiest Capesize Demolition Market Ever

Peter Sand, Chief Shipping Analyst, BIMCO

  The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage, according to international shipping association Baltic and International Maritime Council (BIMCO).   The dry bulk market has long suffered from weak freight rates stemming


Higher Capesize Rates Perks Up Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday, supported by increased demand for capesize vessels.   The overall index, which factors in average daily earnings of capesize, panamax


DryShips Loss $59.2mln in Q1

Ocean Rig Corcovado and Ocean Rig Olympia naming ceremony at Samsung Heavy Industries. Photo by DryShips Inc

 The Athens, Greece-based DryShips Inc. (DRYS) has reported a loss of $59.2 million in its first quarter. DryShips is an owner of dry bulk carriers and tankers that operate worldwide.   The company said it had a loss of 9 cents on a per-share basis


Cosco Scraps Four Vessels

Pic: China COSCO Holdings

 China COSCO Holdings disassembled four vessels including two container vessels and two bulk carriers in April 2015, with the aggregate capacity of 261.8 thousand deadweight tons.   The company realized losses from the disassembly of the vessels of approximately RMB59 million


SINOPACIFIC Christens Newbuild Bulker

Photo: SINOPACIFIC

SINOPACIFIC Shipbuilding Group held a christening ceremony today at its Dayang Shipyard for a newly built Ultramax CROWN63R.   As the Godmother, Madam Grace Yang, the wife of former Chinese Ambassador to Greece christened this new vessel as SINICA GRAECA


Parana River Obstructed by Grounded Vessel

  The navigation channel at km 287 of the Parana River is obstructed after a bulk vessel went aground on the right margin during the early hours of 13 May during her navigation to San Nicolas. The Coast Guard has allowed navigation for vessels with max draft of 7


Drewry Expects Dry Bulk Shipping Recovery in 2017

Graph: Drewry Dry Bulk Forecaster

 Despite a modest recovery in earnings anticipated over the next two years, the dry bulk shipping market is not expected to return to profitability until 2017, says the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.  






 
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