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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.


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 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


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


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


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


Greece's Star Bulk on Ship Buying Spree

Star Bulks Star Thetis: Photo courtesy of Star Bulk

Star Bulk Carriers contracts China's Shanghai Waigaoqiao Shipbuilding to build two Capesize dry bulk carriers, & also signs Letters of Intent with a major Japanese shipyard for construction of two Ultramax dry bulkers. The eco-type, fuel efficient Capesize drybulk vessels are to be delivered in Q4 2015 and Q1 2016, respectively and similar specification Ultramax dry bulkers in 2015. The aggregate purchase price of all four newbuilding vessels is approximately US$151.0 million.


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


G E Shipping Sells General Purpose Product Tanker

Great Eastern

The Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell the 1991-built General Purpose Product Tanker Jag Prachi (28,610 dwt). The vessel will be delivered to buyers in September-October, 2014. The company’s current fleet stands at 30 vessels


G E Shipping Contracts to Buy a Supramax Bulk Carrier

Great Eastern

  The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a Supramax Bulk Carrier of about 52,454 dwt. The 2006 built vessel is expected to join the Company’s fleet in September-October 2014. The Company’s current fleet stands at 30 vessels


Star Bulk Takes Delivery of M/V Leviathan

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Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that on September 19, 2014 it has taken delivery of M/V Leviathan, a 182,000 dwt Capesize built by Japan Marine United (JMU).


G E Shipping Acquires a Supramax Bulk Carrier & Sells "Jag Prachi"

Jag Prachi

  The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month. Earlier yesterday the company reported having delivered its 1991 built General Purpose Product


Baltic Sea Freight Index Down, Capesize Rates Slump

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an 11th straight session on Tuesday, mainly driven by a heavy drop in capesize vessel rates. The overall index, which factors in the average daily earnings of capesize, panamax


Baltic Sea Freight Index Down Again

The Baltic Exchange main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday for a 12th straight session on weak rates for capesize vessels. The overall index, which factors in the average daily earnings of capesize, panamax


Falling Vessel Rates Keep Baltic Freight Index Down

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday for a 13th straight session as vessel rates continued to soften. The overall index, which factors in the average daily earnings of capesize, panamax


OSC Plans Fleet Expansion through 2018

Photo: OSC

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.


G E Shipping contracts to sell a Medium Range product tanker

  The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell “Jag Padma”, a Medium Range (MR) product tanker. The 1996 built vessel of about 47,172 dwt will be delivered to the buyers in May 2014. Including “Jag Padma”


G.E. Shipping delivers “Jag Padma” to buyers

GE Shipping

  The Great Eastern Shipping Company Ltd. (G E Shipping) today announced having delivered its 1996 built Medium Range Product Tanker “Jag Padma” (47,172 dwt) to the buyers. With the delivery of this vessel, the Company’s current fleet stands at 29 vessels


G E Shipping Contracts to Sell a VLGC

Visual from GE Shipping

  The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell “Jag Vidhi”, a Very Large Gas Carrier. The 1990 built vessel of about 49,701 dwt will be delivered to the buyers in the second half of 2014-15.


G E Shipping Takes Delivery of a VLGC

Great Eastern Shipping Company

  The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 1994-built Very Large Gas Carrier (VLGC) “Jag Vishnu” [49,300 dwt (73,800 cbm)] on 8th July 2014. Last week G E Shipping had signed a contract to sell a VLGC


Asia Dry Bulk Capesize Rates Stay Flat

Bulk carrier anon: File photo

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from


Newport Shipping Upbeat on Dry Bulk Segment

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Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009. According to the latest edition of Newport Shipping’s Dry Bulk Market Outlook


Dry Bulk Carrier Segment Revival Seen by Analyst

Frontispiece of report: Image courtesy of Newport Shipping

Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009, according to Newport Shipping’s 'Dry Bulk Market Outlook 2014 Q2'.






 
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