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NewLead Holdings Announces Commercial Competency of MT Sofia

MT Sofia Photo Newlead

   NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet. The Sofia is a 2008-built bitumen tanker vessel of 2,888 dwt and is one of the five bitumen tanker vessels that were delivered to NewLead's fleet during the fourth quarter of 2014. Since the end of November 2014, when NewLead took delivery of the Sofia, the vessel has been trading in the spot market under consecutive voyages. Previously, the Sofia has completed twelve different voyage charter agreements and fifteen different voyages and has transported approximately 29,175 metric tons of bitumen. Currently, the Sofia is performing its thirteenth voyage charter agreement while the Company has already agreed upon her following voyage charter, which is expected to commence at the end of July 2015, upon completion of its existing charter agreement. For the past nine months, the Sofia has been trading mainly in the Central and East Mediterranean and the Black Sea areas with the vessel loading in Greece and Italy and discharging in Greece, Roumania, Lebanon, Cyprus, Egypt, Turkey and Libya. Upon delivery of the Sofia to NewLead, the Company invested in the maintenance and improvement of the vessel's condition


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.


Concordia Maritime, P-Max in Charter Deal

pmax.jpg

Concordia Maritime has just won a new contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement is for 6 months initially and will run until the end of 2014. "We are very proud to have concluded this deal and we are looking forward to continuing to develop this growing trade with refined petroleum products into the Asia Pacific with our business partner,” says Kim Ullman


Dorian LPG Takes Delivery of Five Newbuilds

Photo: Dorian LPG

 Dorian LPG Ltd took delivery of five vessels under our ECO-design VLGC newbuilding program, the Continental, the Constitution, the Commodore, the Cresques and the Constellation.   John Hadjipateras, Chairman, President and Chief Executive Officer, commented, "We took the delivery of five new Eco-design VLGCs this past quarter and are nearing the completion of the build-out of our fleet."  


Maritrans Reports First Quarter Earnings

Maritrans Inc., today announced its first quarter financial results and declared a quarterly dividend. Maritrans also announced an investor teleconference to discuss the quarter's results. Net income for the quarter ended March 31, 2002, was $3.0 million, or $0.32 diluted earnings per share, on revenues of $31.3 million. This compares with net income of $2.7 million, or $0.24 diluted earnings per share, on revenues of $31.6 million for the quarter ended March 31, 2001.


Crude Carriers Corp. Reports 2Q Resultes

Crude Carriers Corp. (NYSE: CRU), today reported its financial results for the second quarter of 2011. The Company reported a net loss for the quarter of $7.5 million or $0.48 per share, which compares with a $0.37 net income per share from the second quarter of 2010. The Company’s reported net loss for the quarter includes $1.7 million in general and administrative expenses related to the definitive merger agreement with CPLP and the proxy statement on Form F-4 filed with the Securities


The CSL Group Installs Veson

Veson Nautical, a US-based developer of software solutions for the commercial maritime community, announced that installation of its IMOS Chartering Module has been completed for The CSL Group of companies. “We researched offerings from all the major vendors in this market and selected Veson Nautical to replace some of our ‘homegrown’ tools for a number of reasons,” explained Kevin Johnston, Director of Information Technology for the CSL Group


Baltic Trading Takes Delivery of Drybulk Vessels

Baltic Trading Limited (NYSE: BALT), a drybulk company focused on the spot market, has taken delivery of the Baltic Bear, a Capesize newbuilding, and the Baltic Jaguar, a 2009-built Supramax vessel. The Baltic Bear and the Baltic Jaguar are the third and fourth vessels, respectively, to be delivered to the company under agreements signed in February 2010 to acquire four 2009-built Supramax drybulk vessels from an unaffiliated third party as well as two Capesize newbuildings from another


Trafigura Fixes 6 Voyage Charters from Golar LNG

Swiss trader Trafigura has taken up to six liquefied natural gas (LNG) vessels from Norwegian shipping company Golar LNG, likely on a single-voyage basis to transport cargoes, trading and shipping sources said. The vessels are to be put at Trafigura's disposal from now through August or possibly September and sources say each vessel may be used for only a single voyage. The sources said this type of arrangement resembles a Contract of Affreightment


New Voyage Planning Program

Seagull AS presented its new Voyage Planning Program - VP version 1.0. This software has been developed in close cooperation with the ECDIS supplier/developer MARIS AS. Northern Marine Management Glasgow/UK will be the first customer using this new SW on board all ships Seagull has completed a new program covering the needs for any vessel and navigator to complete a comprehensive voyage plan according to any known charter requirements.


Asia Tankers-VLCC Weighed by Excess Tonnage

File Image (CREDIT: AdobeStock)

MidEast, West Africa rates diverge; oil output curbs in Iraq and West Africa could weigh on tanker market.   Freight rates for very large crude carriers (VLCCs) are likely to remain under pressure with hire rates from the Middle East to Asia tracking lower in the face of excess tonnage in


Asia Dry Bulk-Capesize Rates to Climb Again

File Image (CREDIT: AdobeStock)

Number of spot capesize cargoes double from January levels; Pacific capesize earnings now around $14,000 per day.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-month highs this week, are set to jump further next week on tight tonnage supply and


Asia Dry Bulk-Capesize Rates Pressured Abundant Tonnage

File Image (CREDIT: AdobeStock)

Capesize rates from Western Australia to China at 8-week high; shipowners parking ships off South Africa to stop rates falling.   Freight rates for large capesize dry cargo vessels on key Asian routes could remain rangebound next week as abundant tonnage puts a ceiling on freight rates even


Asia Dry Bulk-Capesize Rates Up on Increased Traffic

File Image (CREDIT: AdobeStock)

Record iron ore prices fuelling capesize chartering boom; freight rates rise by around $1 per tonne in a week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-week highs on Wednesday, are set to continue to climb next week on buoyant iron ore cargo


Asia Dry Bulk-Capesize Rates could Diverge on Market Conditions

File Image (CREDIT: AdobeStock)

Australia-China rates could climb on improved weather. Brazil-China rates to hold steady, fall on lack of charters.   Freight rates for large capesize dry cargo vessels on key Asian routes could diverge next week with rates from Australia to China rebounding on improved weather


Asia Dry Bulk-Capesize Rates to Hold Steady

Floor may have been reached on Western Australia-China rates; dry cargo demand could fall 5.4 pct in first quarter.   Freight rates for large capesize dry cargo vessels on key Asian routes are likely to hold around the current levels next week on ample tonnage supply even as chartering


Asia Dry Bulk-Capesize Rates to Hold Steady

File Image: A so-called ValeMax bulk carrier (Vale)

Brazil-China rates hit 15-month high for second time this year.   Freight rates for large capesize dry cargo ships on key Asian routes could hold steady or slip slightly next week after unexpectedly climbing this week on strong cargo volumes, ship brokers said.  


Asia Dry Bulk-Capesize Rates to Slip; Low Demand, Overcapacity Weigh

File Image: a typical bulk vessel underway (CREDIT: BSM)

Despite lower rates, rental prices doubled from last year; capesize vessels totalling 15 million DWT to be delivered this year - broker.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to drift lower as tonnage volumes outpace cargo demand even as owners


Asia Dry Bulk-Capesize Rates Firm as Weather Delays Weigh

File Image: a large bulk carrier underway (CREDIT: BSM)

Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help


Asia Dry Bulk-Capesize Rates to Slip Further

File Image: A laden bulk vessel underway (Cedit Norden)

Chartering activity falls as holidays loom; Rio Tinto offering rates 5.5 pct lower than index level. Freight rates for large capesize dry cargo ships on key Asian routes will slide further next week in a lacklustre chartering market ahead of Christmas, ship brokers said.


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.


Eagle Bulk Reports 3Q Loss

Photo: Eagle Bulk Shipping Inc.

 Connecticut-based Eagle Bulk Shipping Inc reported a loss of $19.4 million in its third quarter ended September 30, 2016. It had net loss of $20.4 million last year Q3.   It has a loss of 52 cents per share compared to  $10.83 net loss per share, for the comparable quarter in 2015


DNV GL Adds New Functionality to ECO Insight

Image: DNV GL

 The latest release of DNV GL’s fleet performance management solution ECO Insight adds a range of new analytical and reporting features to the market leading portal.    The new features enable shipowners to manage more vessel data than ever


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


VLCC Rates to Hold Firm as Owners Await MidEast Cargoes

File photo: Euronav

Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs this week, are likely to hold firm as owners tread water before the release of further Middle-East and West Africa cargoes, ship brokers said on Friday.  






 
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