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Supramax Vessel News

09 May 2023

Baltic Index Rises on Strong Capesize, Supramax Demand

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, aided by higher rates for capesize and supramax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 40 points, or 2.6%, to its highest in eight weeks at 1,598.The capesize index was up 125 points, or 5.2%, at 2,509 — its highest since Dec. 22.Average daily earnings for capesizes, which typically transport 150…

11 Apr 2023

Baltic Index Falls on Weak Capesize, Supramax Demand

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, snapped a four-session winning streak on Tuesday, pressured by lower rates for capesize and supramax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 53 points, or 3.4%, at 1,507 — its biggest dip in two weeks.The capesize index fell 130 points, or 6.4%, to 1,911.Average daily earnings for capesizes, which typically transport 150…

21 Sep 2022

Baltic Dry Index On the Rise

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Wednesday as capesize and supramax vessel segments gained.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 17 points, or about 1%, at 1,746, in its second day of gains after Tuesday's 11.3% jump."The recent weather disruption in Asia supported owners’ sentiment which coupled with the strong grain stems out of both the ECSA and NCSA (east coast and north coast, South America) led to w-o-w improvements across all sectors," ship bro

31 Mar 2022

Baltic Dry Index Drops to 3-week Low, Ends Quarter Higher

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The Baltic Exchange's dry bulk sea freight index fell to its lowest level in over three weeks on Thursday, dragged by sliding panamax and supramax vessel rates, although the main index posted monthly and quarterly gains.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 11 points, or about 0.5%, to 2,358 points, its lowest since March 8.The main index has gained about 6.4% this quarter and 15.6% in March, its second monthly gain this year.The panamax index dipped 95 points, or 2.9%, to 3,141 points.

07 Jan 2022

Baltic Dry Index Edges Lower

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The Baltic Exchange's dry bulk sea freight index edged lower on Friday, as a decline in panamax and supramax vessel rates outweighed gains in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 7 points to 2,289.The index has risen more than 3% this week, after posting two straight week of losses.The capesize index rose 76 points, or 3.2%, to 2,432.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose by $632 to $20,167.Dalian iron ore rose on Friday, and advanced nearly 6% this we

02 Jun 2021

Eagle Bulk Buys Modern Ultramax Duo for $44M

For illustration only - An Eagle Bulk Shipping vessel / Credit: Eagle Bulk Shipping

The U.S.-based dry bulk shipowner Eagle Bulk Shipping said Wednesday it had bought two high-spec 2015-built scrubber-fitted Ultramax bulk carriers for $44 million.The vessels, which will be renamed the M/V Antwerp Eagle and M/V Valencia Eagle, are of the SDARI-64 design and were constructed at Jiangsu Hantong Ship Heavy Industry Co. The company expects to take delivery of both ships during the third quarter of 2021.Eagle Bulk Shipping said it would fund the acquisition will with cash on hand, which includes equity issued under the company’s ATM program.

21 Apr 2021

Capesize Surge Lifts Baltic Dry Index Above 10-year Peak

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The Baltic Exchange's main sea freight index surged to its highest in over a decade on Wednesday, powered by a jump in the larger capesize vessel segment on increasing iron ore shipments from Brazil.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessel ferrying dry bulk commodities, jumped 238 points, or 9.6%, to 2,710, its highest since October 2010.The index recorded its biggest daily jump since Feb. 17.The capesize index surged 559 points, or 16.2%…

10 Mar 2021

Baltic Index Rises to Over Five-month Peak

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The Baltic Exchange's main sea freight index gained on Wednesday, marking its highest level since early October as rates for the capesize and supramax vessel segments rose.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, climbed 79 points, or 4.2%, to 1,980—its highest since October 7, 2020.The main index was up for a seventh straight session.The capesize index was up 207 points, or 10.6%, at 2,157, its highest since Jan.

11 Feb 2021

Baltic Index Edges Up

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The Baltic Exchange's main sea freight index on Thursday gained after posting losses in the last three sessions, as strong gains in panamax and supramax vessel rates countered a slide in the capesize segment.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 10 points, or 0.8%, to 1,313.The capesize index dropped 53 points, or 4.1%, to an over two-month low of 1,243. The index slipped for a 16th consecutive session.Average daily earnings for capesizes…

18 Jan 2021

Baltic Index Drifts Lower as Capesize Rates Weigh

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The Baltic Exchange's main sea freight index dropped on Monday, as weaker rates for the larger capesize segment offset gains in panamax and supramax vessel rates.The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 14 points, or 0.8%, to an over one-week low of 1,740.The capesize index retreated 54 points, or about 1.9%, to 2,839.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $448 to $23,541.The panamax index gained 2 points , or 0.1%, to 1,618.Average dail

22 Dec 2020

Ships Swap: Genco Trades Six Older Vessels for Three Ultramaxes

Genco Shipping & Trading has entered into an agreement to acquire three modern, eco Ultramax bulk carriers in exchange for six older Handysize vessels, the largest U.S. headquartered dry bulk shipowner announced Monday. The transaction with an unnamed trading partner is structured as an asset swap without monetary consideration or additional capital required. The vessels are scheduled to be delivered to both parties through the first quarter of 2021.Genco, which aims to continue building scale in the Ultramax sector while divesting non-core assets, said the swap is part of its fleet moderniztion efforts, reducing the average age of its fleet by 0.3 years.

10 Jul 2020

Baltic Index Snaps Streak of 7 Consecutive Weekly Gains

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The Baltic Exchange's main sea freight index was unchanged on Friday, as gains in panamax and supramax vessel rates offset losses in capesize rates, although it was set for its first weekly decline in eight.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was flat at 1,810. For the week, the index shed 4.4%.The Baltic capesize index lost 53 points, or 1.6%, to 3,333 and dropped 23.7% this week.Average daily earnings for capesizes…

20 Mar 2020

Baltic Index Posts First Loss in 6 Weeks

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The Baltic Exchange's main sea freight index fell on Friday, posting its first weekly fall in six weeks, weighed by lower panamax and supramax vessel rates.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, fell 5 points, or 0.8%, to 625.For the week, the index dipped 1%, its first weekly decline in six.The panamax index declined 43 points, or 5.1%, to 807, recording its 10th straight fall. The index slipped almost 20% during the week.Average daily earnings for panamaxes…

19 Mar 2020

Baltic Index Inches Higher On Capesize Demand

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The Baltic Exchange's main sea freight index inched up on Thursday, as stronger demand for capesize vessels offset a fall in panamax and supramax vessel rates.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, was up by a point, or 0.2%, at 630.The capesize index rose for the fifth straight session, gaining 38 points to -166.Average daily earnings for capesizes, which typically transport 170,000 tonnes-180,000 tonnes cargoes including iron ore and coal…

24 Feb 2020

Higher Rates for Smaller Vessels Lift Baltic Index

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The Baltic Exchange's main sea freight index edged higher on Monday as gains in the panamax and supramax vessel segments offset lower capesize rates.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 9 points to 506 points.The panamax index climbed 24 points, or 3%, to 811 points, its highest since Jan. 21.The index registered its 13th straight session of gains.Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60…

21 Nov 2019

Star Bulk Sells Two Supramax Vessels

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced that it has agreed to sell the Star Cosmo, a 2005 built Supramax vessel and the Star Epsilon, a 2001 built Supramax vessel."We expect to deliver both vessels to their new owners by the end of this month (November)," the Greece-based shipping company said in a statement.The proceeds from these sales, after prepayment of the debt related to the two vessels, are expected to be approximately $6.0 million and we expect to incur a non-cash loss of approximately $4.5 million in the fourth quarter of 2019.Meanwhile, Star Bulk  completed the installation of 44 scrubber systems…

30 Oct 2019

Grindrod Announces Finance Arrangement

Grindrod Shipping Holdings, a global provider of maritime transportation services in the dry-bulk and product tanker sectors, announced a number of transactions relating to a new financing arrangement, its fleet and share repurchases."Further to the previously-announced financing arrangements in respect of IVS Knot and IVS Kinglet, we expect to enter into a similar financing arrangement with a Japanese shipowner in respect of the 2011-built handy-size dry-bulk carrier, IVS Magpie, for a cash amount of $10.3 million (before commissions but net of charter pre-payments)," said a statement.The Singapore-headquartered company will bare-boat charter the vessel back for a period of up to 12 years and has the right…

26 Mar 2019

Norden Sells Four Bulk Carriers

Nordpol (Photo: Norden)

In the last couple of weeks, Dampskibsselskabet Norden A/S has sold off four dry cargo vessels as part of its strategy to become increasingly asset light and reduce the owned fleet to a tradable size, the Danish shipowner announced on Tuesday.The sold vessels are 2002-built Panamax vessel Nordkap, 2002-built Panamax vessel Nordpol, 2007-built Supramax vessel Nord Express and 2011-built Handysize vessel Nord Mumbai.“It is an integrated part of Norden’s business to buy and sell vessels when the right opportunities arise,” said Norden CEO Jan Rindbo.

14 Jan 2019

Star Bulk Adds Two More Vessels to its Fleet

Greece-based Star Bulk Carriers Corp. took delivery of the last two of the three firm dry bulk vessels from an entity affiliated with E.R. Capital Holding GmbH & Cie. KG.According to the global shipping company focusing on the transportation of dry bulk cargoes announced it added the 2010 built Capesize vessels M/V E.R BRANDENBURG and M/V E.R BOURGOGNE, to its fleet on on January 7th, 2019 and January 14th, 2019 respectively, The Vessels were acquired for a combination of cash and shares. The vast majority of the cash portion of the transaction will be funded from senior secured financing which will be drawn within this week.Following…

20 Nov 2018

Star Bulk Carriers Reports Profit for Fourth Consecutive Quarter

The global shipping company focusing on the transportation of dry bulk cargoes Star Bulk Carriers Corp announced the third quarter ended September 30, 2018 marks the fourth consecutive profitable one.The Marousi, Greece-based company said that the total revenues for the third quarter of 2018 increased to $188.5 million from $80.8 million in the third quarter of 2017.Petros Pappas, Chief Executive Officer of Star Bulk said: "we achieved $128.7 million in TCE Revenues, $80.1 million in Adjusted EBITDA and Net Income of $26.1 million. Our average TCE for the quarter continued to increase quarter on quarter to $14,521/day per vessel. As of today…

07 Nov 2018

Genco Shipping Completes Acquisitions of Six Vessels

U.S. headquartered drybulk shipowner Genco Shipping & Trading  said that it has completed the acquisition of a total of six high specification, fuel efficient Capesize and Ultramax vessels.The New York-based company focused on the transportation of major and minor bulk commodities globally said in a press release: "Beginning in July we took delivery of the Genco Weatherly, a 2014-built 61,556 dwt Ultramax vessel. Subsequently, in August, we took delivery of two 2015 Chinese built 181,060 dwt Capesize vessels, the Genco Endeavour and the Genco Resolute.""Finally, in September, we completed these transactions as we took delivery of two 2016 South Korean built Capesize vessels…

24 Oct 2018

Baltic Index Falls 2% on Lower Rates for Panamax Vessels

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped 2 percent on Wednesday on weaker rates for panamax and supramax vessel segments.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 31 points, or 2 percent, to 1,546 points.* The index registered its biggest daily percentage decline in six-weeks.* The panamax index slipped 46 points, or 2.7 percent, at 1,669 points, marking its biggest daily percentage fall since Aug.

11 Sep 2018

Genco Acquires Three Bulk Carriers

Dry bulk shipping company Genco Shipping & Trading Limited said it has taken delivery of three 2016-built bulk carriers and sold off older tonnage as part of its fleet renewal strategy.The New York based company has taken delivery of two 180,000 dwt Capesize vessels as well a 60,000 dwt Ultramax vessel in September 2018. Genco agreed to acquire the two Capesize vessels, Genco Defender and Genco Liberty, in July 2018, while the Ultramax vessel, Genco Columbia, is the last of four vessels that Genco agreed to acquire in June 2018.Genco said it funded the purchase of these vessels with cash on hand and drew down an additional $56.25 million under its new $108 million credit facility…

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