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Supramax Vessel

Star Bulk Takes Delivery of Vessel

Star Bulk Carriers Corp. announced that it has taken delivery of the Star Sigma, a Japanese built Capesize vessel of 184,400 dwt built in 1991. On delivery, Star Sigma has also commenced her one-year time charter employment at a gross daily rate of $100,000 followed by a three-year time charter employment at an average gross daily rate of $63,000. Star Bulk's fleet consists of eleven dry bulk vessels including three Capesize, one Panamax and seven Supramax vessels. As of today, the company's operational fleet is ten vessels consisting of three Capesize, one Panamax and six Supramax vessels. The eleventh vessel, a Supramax, is scheduled for delivery later this month.


Star Bulk Takes Delivery of Supramax Vessel

Star Bulk Carriers Corp. announced that it has taken delivery of the Star Omicron, a Japanese built Supramax vessel of 53,489 dwt built in 2005. Upon delivery, Star Omicron commenced her three-year time charter employment at a gross daily rate of USD 43,000. The company has now taken delivery of all vessels they agreed to acquire, including the eight initial vessels from TMT and three additional vessels following the Completion of the Redomiciliation Merger.


Genco Takes Delivery of Supramax Vessel

Genco Shipping & Trading Limited (NYSE:GNK) has taken delivery of the Genco Lorraine, a 2009-built Supramax vessel. The Genco Lorraine is the first of 13 vessels to be delivered to the company under Genco's agreement previously announced on June 25, 2010 to acquire 13 Supramax vessels from Setaf SAS, a wholly owned subsidiary of Bourbon SA. The company also announced that it has reached an agreement to enter into a time charter for the Genco Lorraine with Olam International Limited for


Eagle Bulk Shipping Acquires 26 Ships for $1.1B

(Photo courtesy of www.eagleships.com) Eagle Bulk Shipping, Inc. (Nasdaq:EGLE) has agreed to acquire a fleet of 26 Supramax vessels for $1.1 billion from the parent of Anemi Maritime Services, a private Greek shipping company. The transaction is subject to completion of customary documentation and closing conditions. "This accretive transaction leverages management's strong industry relationships and reaffirms our commitment to the Supramax asset class


Eagle Bulk Acquires 2 Ships

Eagle Bulk Shipping Inc. (Nasdaq:EGLE) today announced that it has acquired two Supramax vessels for a total price of approximately $146 million. The vessels acquired are:  The Goldeneye, a 2002 built 52,421 dwt Supramax expected to      deliver in June 2008; and the Redwing, a 2007 built 53,000 dwt Supramax expected to      deliver in September 2008 The Company will secure employment for the vessels prior to their delivery.


Genco Shipping & Trading Announces Q1 2011 Results

Genco Shipping & Trading Limited.bmp

NEW YORK, May 3, 2011 /PRNewswire via COMTEX/ -- Genco Shipping & Trading Limited (NYSE: GNK) ("Genco" or the "Company") today reported its financial results for the three months ended March 31, 2011. The following financial review discusses the results for the three months ended March 31, 2011 and March 31, 2010. First Quarter 2011 and Year-to-Date Highlights     * Recorded net income attributable to Genco for the first quarter of $13


NORDEN Sells its Last Capesize Ship

Nord-Energy (Photo: NORDEN)

In line with its dry cargo strategy to focus on Panamax and Supramax vessels, Danish ship owner NORDEN has entered into an agreement to sell its last remaining Capesize vessel Nord-Energy (180,310 dwt. built in 2004). At the same time, the company has agreed to buy a Supramax vessel (58,000 dwt. built in 2010). Both deliveries will take place in the course of the first quarter of 2016.   Following the sale, NORDEN no longer owns Capesize vessels and currently only operates one chartered


Genco Takes Delivery of Two Drybulk Vessels

Genco Shipping & Trading Limited (NYSE:GNK) announced that it has taken delivery of the Genco Bourgogne, a 2010-built Supramax vessel, and the Genco Bay, a 2010-built Handysize vessel. The Genco Bourgogne is the ninth vessel to be delivered to the company under its agreement previously announced on June 25, 2010 to acquire 13 Supramax vessels from Setaf SAS, a wholly owned subsidiary of Bourbon SA. The Genco Bay is the is the second of five vessels to be delivered to the company under its


Genco to Acquire Three Drybulk Vessels

Limited announced that it has agreed to acquire three 2007-built drybulk vessels from Bocimar International N.V. and Delphis N.V., for an aggregate purchase price of approximately $257.0 million. The acquisition is subject to the completion of customary additional documentation and closing conditions. The three vessels, comprised of two Panamax vessels and one Supramax vessel, are expected to be delivered to Genco during the third and the fourth quarters of 2008


Star Bulk Takes Delivery of First Capesize from JMU

Star Bulk ship: Photo credit Star Bulk

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the first of six similar vessels ordered at JMU, with expected deliveries until the 3rd quarter of 2015. The new ship will be employed in the spot market in order to take advantage of its modern design and fuel efficient specifications. Following the delivery of M/V Peloreus and inclusive of the two Kamsarmax vessels to be


Asia Dry Bulk-Capesize Rates Sliding as Overcapacity Weighs

File Image: a dry bulk vessel underway (CREDIT: Norden)

Capesize rates 26-33 pct higher than a year ago, but could fall towards Chinese New Year. Freight rates for large capesize dry cargo ships on key Asian routes may fall further next week as prospects for a pre-Christmas rally fade with ship supply outpacing cargo demand, ship brokers said.


Capesize Rates Fall to Eight-week Low

Capesize dry bulk vessel Nord Power (File photo: Dennis Schnell, Bulldog and Partners / Dampskibsselskabet NORDEN A/S	)

Freight rates for large capesize dry cargo ships on key Asian routes, which fell to an eight-week low on Wednesday, are likely to continue to slide next week as charterers drip-feed cargoes in an over-tonnaged market, brokers said on Thursday.  


Excess Tonnage Weighs on Asia Dry Bulk-Capesize Rates

File image: a so-called ValeMax bulk carrier (Credit: Vale)

Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes


Asia Dry Bulk-Capesize Rates could slide as Tonnage Outweighs Demand

A typical Capesize Bulker (credit: BSM)

Many vessels available for charter put pressure on freight rates. Freight rates for large capesize dry cargo ships on key Asian routes are set to slide next week as the number of ships available for charter outpaced cargo demand, ship brokers said on Thursday.


Asia Dry Bulk-Capesize Rates to Remain Steady

File Image (Credit BSM)

Owners seeking to push rates higher, close to year-long highs; dry bulk sector to see greater consolidation - BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain steady next week even as owners try to push rates up close to year-highs


Asia Bulk-Capesize Rates to hold firm during China holiday

file image (credit: BSM)

Capesize rates slip from year-long highs as miners absent; owners still optimistic of Q4 rate bounce. Freight rates for large capesize dry cargo shippers on key Asian routes, which hit the highest in about a year last Thursday, are set to remain buoyant during China's week-long National Day


Asia Dry Bulk-Capesize Rates Steady

A so-called ValeMax bulk carrier commly used in the South America-to-Far East trades (credit: Vale)

Holidays in Asia likely to dampen chartering activity; Outlook still "slightly positive" for fourth quarter. Freight rates for large capesize dry cargo ships on key Asian routes could hold steady around current levels next week in a quiet market, ship brokers said on Thursday.


Brokers Optimistic on Asia Dry Bulk-Capesize Rates

File image: credit BSM

More activity from Australian miners buoy capesize rates; dry cargo market remains over-tonnaged as fleet growth outpaces demand. Freight rates for large capesize dry cargo ships on key Asian routes should stay largely unchanged next week on static cargo volumes though shipowners remain


Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold steady as ship owners resist charterers' attempts to push rates lower amid a dearth of cargo


Baltic Index Down as Rates for Large Vessels Stay Weak

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


Broad Declines drag Baltic Index down

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


Baltic Index Falls on Weak Freight Rates

Freight rates across most bulk sectors fell on Monday. File Image (Credit BSM)

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


Baltic Index Falls for Third Straight Day

File Image: A FedNav Bulk Vessel (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the third straight day on Thursday due to weaker rates for larger 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.


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






 
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