Drylog News

North American marine emergency response service provider Rapid Ocean Response Corporation (RORC) said that the dry bulk shipping company DryLog has joined its network.DryLog,  a subsidiary of international Ceres Shipping Ltd,  will now have access to an always-available, contractually-obligated network of emergency response vessels that facilitates compliance with the U.S. Coast Guard's Salvage & Marine Fire Fighting (SMFF) regulations that address marine firefighting resources.“Safety is our most important priority, and, joining the RORC network bolsters our marine firefighting capabilities, enhancing safety and providing compliance with U.S. maritime laws,” said a spokesperson of DryLog. “Our ships transport millions of dollars of goods in and out of U.S.

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.

quarter 2007. third quarter. At the end of the third quarter Bocimar expanded its fleet considerably. for 10 Handysize bulk vessels (33,500 dwt) from Samjin Corporation (Korea). of these vessels is scheduled to take place between September 2009 and December 2010. unit from Dalian (China). The delivery of the vessel will take place in June 2009. The prospects for the remainder of the year are good. fully covered at rewarding levels. The current spot freight markets remain historically high. second- hand values of bulk vessels. increase of more than 60%. The contribution of other activities amounts to $15.8m (2006: $5.75m). sale of Fukuoka 1266 (2007-19,700 dwt). ordered by CMB together with Wah Kwong in 2003 and 2004, and sold in early 2006.

CMB confirms that its subsidiary Bocimar International has sold its Handymax vessel CMB Talent (2001 – 52,403 dwt). The vessel is sold time charter attached, expiring at the end of 2008. The net sale price amounts to USD 53 million. At the time of delivery of the vessel, scheduled to take place at the end of November 2007, a capital gain of approximately $36m will be realized. Further, Bocimar has ordered 10 Handysize bulk vessels (33,500 dwt) from Samjin Corporation (Korea). The purchase price amounts to $36 million per vessel. The delivery of these vessels is scheduled to take place between September 2009 and December 2010. Finally Bocimar has ordered, in 50/50 joint venture with Drylog, one 180,000 dwt Capesize unit from Dalian (China).

Greek bulk shipping operator Ceres Hellenic said on Thursday it had agreed to merge its Capesize and Panamax fleets with those of Italy's Coeclerici, creating one of the world's largest bulk carrier fleets. The ships will be operated by a new joint venture between the two private companies, Coeclerici Ceres Bulk Carriers (CCBC), which brokers said would be among the top six players in the transport of coal, grain and iron ore. The two fleets have been working alongside each other for 18 months under a pooling alliance, Coeclerici Transport, in which Coeclerici handled commercial management and Ceres dealt with operations, said a Ceres spokesman.