Bocimar News

Dry bulk shipping company Golden Ocean Group Limited on Tuesdat announced it has terminated its relationship with Capesize Chartering Ltd. (CCL), a joint venture to coordinate the Capesize spot chartering services of Golden Ocean, Starbulk, CTM and Bocimar.Ulrik Andersen, CEO of Golden Ocean Management AS, said, "We have enjoyed our close cooperation with our CCL partners over the last five years. CCL was formed in 2016 to achieve greater commercial scale amid a challenging commercial environment. "Since then, the market has improved, and Golden Ocean has significantly expanded and modernized its fleet, most recently with the acquisition…

Dry bulk shipping company Diana Shipping has entered into a time charter contract with Bocimar for its Kamsarmax dry bulk vessel, the m/v Myrsini. Diana Shipping said Friday that the gross charter rate was US$27,750 per day, minus a 5% commission paid to third parties, for a time charter period until minimum October 15, 2021, and up to maximum November 30, 2021. "The charter is expected to commence on May 10, 2021. The m/v Myrsini is currently chartered, as previously announced, to Ausca Shipping Limited, Hong Kong, at a gross charter rate of US$11,500 per day, minus a 5% commission paid to third parties," Diana Shipping said.The “Myrsini” is a 82…

Ballast water treatment system (BWTS) manufacturer Envirocleanse said it recently signed an Agreement with CMB/Bocimar to install the patented inTank BWTS aboard the Capesize bulk carrier, Mineral New York. The initial installation will be designed as a pilot study to reflect much of CMB's fleet and will include the treatment of a cargo hold being used in part as a ballast tank. Envirocleanse is currently undergoing both land-based and shipboard testing aboard the USTS Golden Bear with DNV-GL as the independent laboratory.

Hunter Maritime Acquisition Corp. said it has entered into definitive agreements pursuant to which it has agreed to purchase, for an aggregate purchase price of $139.4 million in cash, five identified Capesize dry bulk carriers in an en-bloc transaction from five Cyprus-based companies affiliated with one or more members of the Oskar Wehr group of companies of Hamburg, Germany. The vessels were built by Chinese shipyard New Times Shipbuilding Co. Ltd. and consist of MV Charlotte Selmer (2011), MV Greta Selmer (2011), MV Tom Selmer (2011), MV Lene Selmer (2010) and MV Hugo Selmer (2010). The vessels have a combined cargo-carrying capacity of approximately 876,352 deadweight tons and an average fleet age of approximately 6.2 years.

In February 2016, Star Bulk has agreed to defer the delivery of five Newcastlemax vessels from 2016 to 2017 and 2018: three vessels were deferred from Q1 2016 to Q1 and Q3 2017, and two vessels were deferred from Q1 and Q2 2016 to Q1 2018. Consequently, $188 million of CAPEX originally due in 2016 has been deferred to 2017 and 2018. During the last 12 months, the company has pushed back the delivery of 16 vessels for 124 months in aggregate, or eight months per vessel. Star Bulk has also agreed to terminate two shipbuilding contracts, reducing the newbuilding program by four vessels in total.

Star Bulk Carriers Corp. a global shipping company focusing on the transportation of dry bulk cargoes, announced that  it has entered into a Capesize vessel pooling agreement (“CCL”) with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP LIMITED and C TRANSPORT HOLDING LTD. Star Bulk has agreed to market nine  of the Company’s Capesize dry bulk vessels, which had previously been operating in the spot market, as part of the CCL fleet. Together with Star Bulk’s nine vessels, CCL initially consists   of 65 modern Capesize vessels and will be managed in Singapore and in Antwerp. Each vessel owner shall continue to be responsible for the operating,accounting and technical management of their respective vessels.

As tonnage in the East Coast South America (ECSA) region continued to outnumber fresh grain requirements, Supramax front-haul freight rates fell this week, reports Platts, quoting shipping sources. The rate for carrying a 50,000 mt grain stem from ECSA to the Far East continued at that level until it fell to $9,500/d plus $95,000 ballast bonus Tuesday. It was $10,000/d plus $100,000 ballast bonus February 27. That fall went against shipbroker and owner expectations in late February that the start of the South Atlantic grain export season in March would lead to a gradual increase in rates. Though grain exports from Argentina and southern Brazil do not normally peak before late April to early May…

Five dry bulk shipping firms, including shipping tycoon John Fredriksen's Golden Ocean will form a new venture to coordinate chartering services, hoping to reduce costs in a fragmented market, the firms said in a joint statement. The firms, including Golden Ocean, Bocimar International, CTM, Golden Union Shipping and Star Bulk Carriers will form Capesize Chartering Ltd., aiming to start up operations by the second half of February. "The parties operate in the highly competitive and fragmented capesize industry, and neither party owns, controls or manages sufficient capesize vessels to provide competitively priced bids and efficient trading and operations to serve its customers," the firms said.

On September 4th, Anglo-Eastern celebrate it’s 40th Anniversary, in Hong Kong, concluding with an evening of fun, at the Hong Kong Maritime Museum. Among a host of VIPs, both local and international, Mr. & Mrs. Evert Maréchal, The Consul General of Belgium, along with the Consul General of Japan, Mr Hitoshi Noda and the Consul General of India, Mr. Ravi Sinha & Mr Prashant Agrawal together with the Director of the HK Marine Department, Mr Michael W.L. Wong, JP were welcome by Group CEO, Mr Peter Cremers and the Board of Directors of Anglo-Eastern. Benoit Timmermans     Managing Director           Bocimar Belgium N.V. Andre Goedee              CEO                              Dockwise Shipping B.V.

Belgian dry bulk shipping group CMB said on Tuesday it had cancelled an order for four vessels with South Korean shipbuilder Samjin set to be delivered in 2014. CMB, which added that the shipbuilder was not able to deliver the four handysize vessels on time, said Samjin had returned $30 million in advances, including interest. In late 2011, CMB's unit Bocimar signed a deal with Samjin for the delivery of six vessels, with two options for another two. After Tuesday's cancellation, CMB said it was monitoring the situation and did not exclude walking away from other orders with Samjin.

Shipbuilding orders for drybulk carriers, tankships, containerships and a RoRo were placed in the past week according to 'Clarkson Hellas S&P Weekly Bulletin'. Cara Shipping, the shipping arm of Chinese domestic company Rizhao Steel, has placed orders for two further 250,000dwt VLOCs at Beihai shipyard. These are declared options with both vessels understood by Clarkson Hellas to be delivering in 2016. Wisdom Marine has continued to expand its orderbook in Japan, announcing an order for a 62,000 dwt bulker at Oshima, to be delivered in 2017 as well as a 37,600 dwt Handysize bulker at Imabari again for delivery in 2017. Whilst as yet unconfirmed…

During its meeting of March 25, 2014, Belgian shipping company CMB’s board of directors approved the final annual accounts as per December 31, 2013. The consolidated result for 2013 amounts to $49,694,000, compared to $133,954,000 in 2012. Bocimar’s contribution to the 2013 consolidated result amounts to $3,467,000 ($53,196,000 in 2012). CMB pointed out that the capacity of newbuilding deliveries has far exceeded the growth in world seaborne trade for a number of years. Today…

Far East shipbuilders scoop the pool of latest big ship newbuilding orders reports Clarkson Hellas in their latest Weekly  S+P Bulletin. This week Clarkson Hellas say that Bocimar has announced an order for two firm 206,000 DWT Newcastlemax and one firm 180,000 DWT Capesize at Imabari, with delivery of all three vessels in 2016. Also at Imabari, Wisdom Marine announced an order for two firm 81,000 DWT Kamsarmax. Pricing is understood to be in the region USD 33-Millionper vessel with delivery in 2016.

CMB, Compagnie Maritime Belge, is a maritime group with its registered offices in Antwerp. Next to holding activities, the Group's main participating interests are active in the transport of dry cargo (Bocimar) and aviation (ASL Aviation). The group notes in its fourth quarter 2013 financial result that its executive committee has discussed the results recorded for the fourth quarter and the preliminary results for the full year 2013. The consolidated result for 2013 is estimated to be US$49.400.000 (2012: US$ 133.954.000).

Earlier this month Bohandymar Limited – a 100% subsidiary of CMB – ordered 6 Handysize ECO-type bulk vessels (36.000 dwt) from Samjin Shipbuilding Industries Korea (Samjin) on very competitive conditions. The order includes two options each for two additional units. The delivery of the first four units is scheduled for 2013; and the others are scheduled for 2014. These vessels will be built according to the most modern specifications and are highly environmentally-friendly. The design offers a 30% fuel saving – as compared to vessels of the previous generation – and consequently a much lower CO2-emission. The vessels will also be equipped with a ballast water management system and are furthermore extremely flexible as regards the type of cargo they are able to carry.

Bocimar and its joint venture partner Drylog have exercised their option to purchase the Mineral Monaco (2005 – 180,263 dwt) currently on long-term charter from Imabari (Japan). The change of ownership is scheduled to take place in the course of the month of May. The acquisition price amounts to $37.5m.

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. Upon completion of the acquisition, and including the four remaining Capesize vessels to be acquired from companies within the Metrostar Management Corporation group, Genco's fleet will consist of 35 drybulk vessels with a total carrying capacity of approximately 2,910,000 dwt and an average age of approximately 6.6 years.

In addition, Bocimar has ordered two 176,000 dwt Capesize newbuildings from Jinhaiwan (China). The purchase price amounts to $88.5m per vessel and the delivery is scheduled to take place in April 2009 and July 2010. Finally Bocimar, in joint venture with Wah Kwong (Hong Kong), has ordered two Postpanamax 93,000 dwt newbuildings from Shanhaiguan (China). The newbuilding price amounts to $52.8m per vessel. The vessels will be delivered in December 2010 and February 2011.

The consolidated result for the first quarter 2012 amounts to $71.608.000 (2011: $4.775.000). Bocimar contributed $31.766.000 (2011: $22.897.000) to the consolidated result for the first quarter of 2012. This contribution includes a capital gain of $24.122.000 on the sale of 5.200.000 shares FMG. Following these sales, the Group continues to maintain a stake of 33.000.000 shares in FMG. Notwithstanding increased scrapping and a healthy demand for tonnage – mainly from China, the dry bulk markets – the Capesize market, in particular – have not yet recovered from the significant decline seen at the start of the year. This decline was mainly due to the excess influx of new tonnage and serious disruptions in exports from Brazil and Australia.

Genco Shipping & Trading Limited announced that it has taken delivery of the Genco Cavalier, a 2007-built Supramax vessel. The Genco Cavalier is the second vessel to be delivered to the Company under Genco's agreements previously announced on May 12, 2008 to acquire three drybulk vessels from Bocimar International N.V. and Delphis N.V. The Genco Cavalier is expected to be delivered to its charterer, Samsun Logix Corporation, on or about July 19, 2008, to commence a time charter for 24 to 26.5 months at a cash rate of $48,500 per day, less a 5 percent third party brokerage commission. The charter is due to expire between July 2010 and October 2010.

Belgian shipping group CMB reported a 144 percent rise in second-quarter net profit, and said prospects for the rest of the year were healthy. The dry bulk specialist said in a statement that net profit totaled $211.2m in the second quarter. The firm, which reported a small loss in the first quarter, said its full first half result was 133.4 million euros, down from 148.2 million euros in the same period of last year. The company confirmed it would propose a gross interim dividend of 1.0 euro a share to the board of directors, who meet on Aug. 26. CMB said its Bocimar unit had contributed 139 million euros to the consolidated result for the first half of 2008, compared with 146 million euros in the first half of last year.

With a new order,  RWO GmbH, a subsidiary of VeoliaWater Solutions & Technologies, has entered the bulker market with its ballast water treatment system CleanBallast. Hong Kong-based shipowner Bohandymar, a subsidiary of the CMB group, has ordered 1,500 m³/hr CleanBallast systems to be installed aboard their handysize ECO-type bulk vessels. "The business relationship of Bocimar and RWO has existed for several years. During that time we have always been satisfied with the excellent quality and high technological standards of their products.

CMB confirms that Bocimar International has sold the Capesize unit Mineral Libin (2006 – 173,999 dwt). The net sale price amounts to $53m. The delivery of the vessel is scheduled between August 2009 and April 2010. The capital loss of approximately $2m that will be realized on this sale will be taken up in the second quarter results 2009. Furthermore Bocimar has sold the Capesize vessel Mineral Azalea (1999 – 171,199 dwt). Based on a net sale price of $45.1m this sale will generate a capital gain of more than $21m. The delivery is scheduled to take place in the course of the third quarter 2009. Both sales have a total positive impact on the Group’s cash position of approximately $42m.