Seaspan Financial Results, Three and Six Months
Seaspan Corporation (NYSE:SSW) announced the financial results for the three and six months ended June 30, 2010. Gerry Wang, Chief Executive Officer of Seaspan, stated, "During the second quarter, Seaspan achieved high utilization for its modern fleet and posted strong operating results while further expanding its contracted revenue streams. We took delivery of six newbuildings, four of which were delivered ahead of schedule, highlighting increased demand during the quarter. All six vessels commenced long-term time charters with top liner companies as planned. In addition, we capitalized on an attractive market opportunity by acquiring a 4250 TEU newbuilding, our first acquisition since late 2007.
Excel Maritime Reports Grounding and Re-floating
Excel Maritime Carriers reported that the vessel M/V Angela Star, has run aground while entering the of , . At the time of the grounding, the vessel was under towage and had two pilots on board. The vessel has been re-floated without outside assistance and has been safely moored at a discharge berth. No engine or steering gear failure, injuries or pollution have been reported. Following discharging, the vessel will sail to a yard for permanent repairs. The vessel is currently estimated to remain off hire for approximately 45 days with an estimated total cost from the incident to the Company, including loss of hire, expected to be $1.4 million or $0.03 per share, which will be realized in the third quarter of this year. The M/V Angela Star is a 73,798 dwt bulk carrier built in 1998 in .
Excel Maritime Takes Physical Delivery of MV Princess I and MV Angela Star
Korea. MV Angela Star is a Panamax bulk carrier of 73,798 dwt built in 1998. vessels were built in Japan. February 21, 2005 and MV Angela Star on March 23, 2005. delivery of MV Princess I and MV Angela Star.
Excel Enters Charter Agreement
Excel Maritime Carriers Ltd has chartered M/V Angela Star for a period of about 24 to 26 months at $26,500 per day to a reputable European charterer. The vessel will be delivered into charter by early November 2006. M/V Angela Star is a Panamax dry bulk carrier of 73,798 dwt, built in 1998 in Japan, which the company acquired and took delivery of in March 2005.
