Building Ice Class News

Finnish shipbuilder Helsinki Shipyard said it has launched the fist of three new luxury expedition cruise ships it is building for Swan Hellenic.At the same time, the hull of the second ship, which already has a ship shape, was floated in the dry dock, while the production of the third vessel in the series started earlier this month.The first of the ships under construction is scheduled to be handed over to its owner in Fall 2021, followed by the second in Spring 2022 and the third in Fall 2022, the shipbuilder said..“The vessel, which has now been launched, is a forerunner in many respects.

Pangaea Logistics Solutions, a global provider of comprehensive maritime logistics and transportation solutions, has signed a contract to build two new post-panamax 95,000 dwt ice-class dry bulk vessels at Guangzhou Shipyard International in China to support the new business.Pangaea holds options to build two more vessels at Guangzhou, said a press note from the company.Pangaea has also announced  the expansion of its high ice class fleet niche with a new ten year contract with its customer Baffinland Iron Mines Corporation.Ed Coll, Chief Executive Officer of Pangaea, discussed the contracts with Baffinland and the China State Shipbuilding Corporation-affiliated Guangzhou Shipyard, "We work closely with all of our customers.

Finland is a traditional marine tech hub, with almost 90 company members in the Finnish Maritime Industries association. While the country has a storied maritime history across many sectors, based on geographic locale, it’s Arctic and ice marine technology is second to none, and it’s hoping the U.S. Coast Guard is taking notice.The Finnish maritime industry is hoping to get involved in developing the new icebreakers for the U.S. Coast Guard polar icebreaker program. Ulla Lainio…

Arctech Helsinki Shipyard is now 100 percent Russian-owned as United Shipbuilding Corporation bought the remaining half of the company’s shares from STX Finland Oy. Arctech Helsinki Shipyard Inc. was founded in December 2010 as United Shipbuilding Corporation bought the first 50 percent of the shipyard shares from STX Finland, a subsidiary of the Korean-owned STX Europe. The joint venture was established to respond to the need of growing market of Arctic shipbuilding and to unite the Finnish and Russian maritime clusters.

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it took delivery of the newly built m/v Crystalia, an Ice Class Panamax dry bulk vessel of 77,525 dwt that was contracted in March 2012. The m/v Crystalia is time chartered to Glencore Grain B.V., Rotterdam, at a gross charter rate of $15,800 per day, minus a 5% commission paid to third parties, for a period of minimum 18 months to maximum 21 months. The charter is expected to commence tomorrow.

Diana Shipping Inc. Announces Signing and Drawdown of a US$18 Million Term Loan Facility With Commonwealth Bank of Australia; Announces Time Charter Contract for m/v Crystalia With Glencore. Diana Shipping has announced that it has completed a drawdown of US$18 million, through two separate wholly-owned subsidiaries, under a term loan facility it has signed for up to US$18 million with Commonwealth Bank of Australia. The proceeds will be used to partially finance the acquisition costs of two Panamax dry bulk vessels, the m/v "Melite" and the m/v "Artemis", which were delivered to the Company on January 28, 2010 and August 26, 2013, respectively.

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, signed, through a separate wholly owned subsidiary, a shipbuilding contract with Yangzhou Dayang Shipbuilding Co., Ltd. and Shanghai Sinopacific International Trade Co., Ltd., for the construction of a Kamsarmax dry bulk vessel of approximately 82,000 dwt for a contract price of $28,824,900.The company expects to take delivery of the vessel during the second quarter of 2016. Excluding the aforementioned vessel, as well as two new-building Ice Class Panamax dry bulk vessels expected to be delivered to the company during the first quarter of 2014 and two newbuilding Newcastlemax dry bulk vessels expected to be delivered to the Company during the second quarter of 2016…

Diana Shipping Inc., a shipping company specializing in the ownership of dry bulk vessels, has announced that it has signed, through a separate wholly owned subsidiary, a shipbuilding contract with Yangzhou Dayang Shipbuilding Co., Ltd. and Shanghai Sinopacific International Trade Co., Ltd., for the construction of a Kamsarmax dry bulk vessel of approximately 82,000 dwt for a contract price of US$28,824,900. The Company expects to take delivery of the vessel during the second quarter of 2016. Excluding the aforementioned vessel, as well as 2 new-building Ice Class Panamax dry bulk vessels expected to be delivered to the Company during the first quarter of 2014 and 2 new-building Newcastlemax dry bulk vessels expected to be delivered to the Company during the second quarter of 2016…

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that yesterday through a separate wholly-owned subsidiary, it entered into a time charter contract with Clearlake Shipping Pte., Ltd., Singapore, a member of the Gunvor Group, for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is $20,500 per day, minus a 4.75% commission paid to third parties, for a period of about 11 months to about 14 months. The charter commenced yesterday. The Houston is a 177,729 dwt Capesize dry bulk vessel built in 2009.

Diana Shipping Inc. has time- chartered out the 75,336 dwt MV Triton to Bunge S.A., Geneva, at a gross charter rate of US$11,000 per day, minus a 5% commission paid to third parties, for a period of up to minimum September 1, 2014 to maximum October 31, 2014. The charter is expected to commence on December 8, 2013. The owners add that this employment is anticipated to generate approximately US$2.86 million of gross revenue for the minimum scheduled period of the charter. Diana Shipping Inc.'s fleet currently consists of 35 dry bulk vessels (2 Newcastlemax…

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it took delivery of the MV Myrsini (formerly Stefania Lembo), a 2010 built Kamsarmax dry bulk vessel of 82,117 dwt. The acquisition of this vessel was originally announced on September 23, 2013. The Myrsini is time chartered to Clearlake Shipping Pte. Ltd., Singapore, at a gross charter rate of $15,500 per day, minus a 4.75% commission paid to third parties, for a period of minimum four months to about six months.

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that the company, through a separate wholly-owned subsidiary, took delivery of the m/v Baltimore (formerly Tamou), a 2005 built Capesize dry bulk carrier of 177,243 dwt that the Company entered into an agreement to purchase in April 2013. The m/v Baltimore is time chartered to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of $15,000 per day, minus a 5% commission paid to third parties, for a period of minimum 36 months to maximum 42 months. Due to schedule maintenance, the vessel is expected to be delivered to the charterers on July 2, 2013.

Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, has made an equity investment in Gulf Coast Shipyard Group, Inc. Gulf Coast Shipyard Group, is a manufacturer of a variety of ocean-going and inland marine vessels for commercial and military markets under the brand name TY Offshore, as well as superyachts under the brand name Trinity Yachts. Centrally located on the Gulf Coast of the United States, Gulf Coast manufactures offshore supply vessels, tank barges, military patrol vessels, tugs and superyachts from two facilities located in Gulfport, MS and New Orleans, LA. Gulf Coast entered the commercial vessel market…

Diana Shipping Inc. signs up to buy the 'M/V Tamou', a 2005 built Capesize dry bulk carrier of 177,243 dwt. The purchase price is US$27,020,202, less one percent address commission to the buyers. The vessel, to be renamed "Baltimore," is expected to be delivered by the end of May 2013. Including the 'Tamou' Diana Shipping Inc.'s fleet currently consists of 33 dry bulk carriers (2 Newcastlemax, 9 Capesize, 3 Post-Panamax, 2 Kamsarmax and 17 Panamax) as well as 2 new-building Ice Class Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. As of today, the combined carrying capacity of our current fleet, excluding the three vessels not yet delivered, is approximately 3.5 million dwt with a weighted average age of 6.1 years.

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced it has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Semirio. The gross charter rate is U.S. $14,000 per day, minus a 4.75% commission paid to third parties for a minimum period of 22 months to maximum twenty-seven 27 months. The charter is expected to commence on March 21, 2013. The Semirio is a 174,261 dwt Capesize dry bulk vessel built in 2007.

Diana Shipping Inc. (NYSE:DSX), through a separate wholly-owned subsidiary, took delivery of the M/V Myrto, a 82,131 dwt newly built Kamsarmax dry bulk carrier that the company entered into an agreement to purchase in December 2012. The M/V Myrto is time chartered to Cargill International S.A., Geneva, at a gross charter rate of $9,000 per day, minus a 5% commission paid to third parties, for a period of  minimum 18 months to maximum 24 months. This employment is anticipated to generate approximately $4.86m of gross revenue for the minimum scheduled period of the charter. Including the newly-delivered M/V Myrto, Diana Shipping Inc.'s fleet  currently consists of 31 dry bulk carriers (17 Panamax…

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, has  announced that it has entered into a time charter contract with Augustea Bunge Maritime Limited, Malta, through a separate wholly-owned subsidiary, for one of its Post-Panamax dry bulk carriers, the m/v Polymnia. The gross charter rate is US$7,600 per day, minus a 5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-four (24) months. The charterer has the option to further employ the vessel for about eleven (11) to maximum thirteen (13) months at a gross charter rate of US$11,000 per day, less a 5% commission paid to third parties.

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, has  announced that it has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v Erato. The gross charter rate is US$6,500 per day, minus a 5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-four (24) months. The charter is expected to commence at the middle of January 2013. This employment is anticipated to generate approximately US$3.5 million of gross revenue for the minimum scheduled period of the charter. The Erato is a 74,444 dwt Panamax dry bulk vessel built in 2004.

Diana Shipping Inc. Diana Shipping Inc.a shipping company specializing in the ownership and operation of dry bulk vessels, announcee that it has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v "Protefs, at a gross charter rate of US$9,000 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-four (24) months to maximum twenty-nine (29) months. The charter is expected to commence in mid-August 2012. This employment of the Protefs a 73,630 dwt Panamax dry bulk vessel built in 2004, is  anticipated to generate approximately US$6.5 million of gross revenue for the minimum scheduled period of the charter.

On August 14, 2012, Diana Shipping Inc. (NYSE:DSX), through a separate wholly-owned subsidiary, took delivery of the m/v "Amphitrite", a 98,697 dwt newly built Post-Panamax dry bulk carrier. The company also announced that, through the same wholly-owned subsidiary, it has entered into a time charter contract with Bunge S.A., Geneva, for the Amphitrite. The gross charter rate is $10,000 per day, minus a 5% commission paid to third parties, for a period of about twenty-two (22) months to about twenty-six (26) months. The charterer has the option to employ the vessel for a further eleven (11) to fourteen (14) month period at a gross charter rate of $11,300 per day, less a 5% commission paid to third parties.

Newly Built Post-Panamax Dry Bulk Carrier "Polymnia" to be Delivered in late 2012. Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, has announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire a newly-built Post-Panamax dry bulk carrier of 98,704 dwt, built by Tsuneishi Group (Zhoushan) Shipbuilding Inc., from a third party seller for a purchase price of US$24.6 million. The vessel, to be named "Polymnia", is expected to be delivered from the yard to the Company by the sellers by the end of November 2012. Including the aforementioned vessel Diana Shipping Inc.'s fleet currently consists of 30 dry bulk carriers (17 Panamax…

Diana Shipping Inc. (NYSE:DSX) has entered into time charter contracts for three of its vessels. The Company has entered into a time charter contract with Clearlake Shipping Pte. Ltd., Singapore, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Norfolk. The gross charter rate is US$10,700 per day, minus a 4.5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-four (24) months. The charter is expected to commence at the beginning of January 2013. Additionally, the Company has entered into a time charter contract with EDF Trading Limited, UK, through a separate wholly-owned subsidiary…

Diana Shipping Inc. signs MOU to buy a new-building bulk ship from a third party; subsidiaries negotiate term loan facilities. The new-building Kamsarmax dry bulk carrier, to be named Myrto of 82,131 dwt, was built by Tsuneishi Shipbuilding Co., Ltd., Japan, and the purchase price is US$26.5-million. The vessel is expected to be delivered to Diana Shipping at the end of January 2013. Separately, the Company also announced that it signed, through two separate wholly owned subsidiaries, a term loan facility with Nordea Bank Finland Plc, London Branch, and has completed the drawdown of US$20-million. The purpose of this facility is to partially finance the acquisition costs of the two newly built Post-Panamax dry bulk carriers…