Yangzijiang Shipbuilding Co Ltd News

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, announced that is has taken delivery of the sixth and final Ultramax drybulk vessel it agreed to acquire in July.The ship, which has been renamed the M/V Hong Kong Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd., said the owner-operator within the Supramax / Ultramax segment.Gary Vogel, Eagle Bulk’s CEO, commented, “We are pleased to have successfully completed our latest round of vessel acquisitions. With a current fleet of 50 Supramax / Ultramax ships…

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, has taken delivery of the fifth of six Ultramax drybulk vessels it has recently agreed to acquire.The ship, which has been renamed the M/V Shanghai Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd, said the owner-operator within the Supramax / Ultramax segment.The acquisition was made by the EBS’ wholly-owned subsidiary, Eagle Bulk Shipco LLC , and was fully funded by restricted cash generated from previous vessel sale proceeds; the M/V Shanghai Eagle will form part of the security for the Subsidiary’s outstanding bond due in 2022.Proforma for the remaining acquisition vessel…

Monaco-based Scorpio Bulkers announced that the Company has entered into a financing transaction in respect of one of the Company’s Ultramax vessels with an unaffiliated third party in Japan. As part of the transaction, the Company will sell a 2015 Japanese built Ultramax dry bulk vessel, SBI Tango, for a consideration of $19.0 million and then lease it back from the buyer through a five-year bareboat charter agreement at a rate of $5,400 per day. If converted to floating interest rates, based on the expected weighted average life of the transaction, the equivalent cost of financing at current swap rates would be LIBOR + 1.73%. The transaction…

Monaco-based international shipping company Scorpio Bulkers said it has received a commitment for a loan facility of up to $12.75 million from a leading European financial institution to finance the Company’s Kamsarmax bulk carrier. The bulker will be delivered from Jiangsu New Yangzijiang Shipbuilding in China in the third quarter of 2018. The loan facility has a final maturity date of five years from delivery and bears interest at LIBOR plus a margin of 2.40% per annum. The terms and conditions are similar to those set forth in the Company's existing credit facilities. The loan facility is subject to customary conditions precedent and the execution of definitive documentation. Scorpio Bulkers is a provider of marine transportation of dry bulk commodities.

Monaco-based dry bulk commodities shipping company Scorpio Bulkers reported a significantly narrowed fourth-quarter loss as it cut expenses and doubled revenue. For the three months ended December 31, 2017, the Company’s GAAP net loss was $1.1 million, or $0.01 loss per diluted share. For the same period in 2016, the Company’s GAAP net loss was $20.6 million, or $0.29 loss per diluted share. Total vessel revenues for the three months ended December 31, 2017 were of $51.1 million, compared to $26.8 million for the three months ended December 31, 2016. The Company acquired nine Chinese built Ultramax dry bulk vessels in two separate transactions for a total consideration of $207.0 million…

Scorpio Bulkers, announced that it has entered into two separate agreements with unaffiliated third parties to acquire three Ultramax dry bulk vessels and one Kamsarmax dry bulk vessel. The deal was for an aggregate of $90 million, of which $77.1 million is payable in cash and the remaining consideration is in the form of approximately 1.592 million common shares of the Company to be issued to one of the sellers. All of the Ultramax vessels were built at Chengxi Shipyard Co Ltd in China, of which two were delivered in 2014 and one was delivered in 2015. The Kamsarmax bulk carrier is a resale unit whose construction will be supervised by the Company and which will be delivered from Jiangsu New Yangzijiang Shipbuilding Co Ltd in China in the second quarter of 2018.

Goldenport Holdings Inc., (LSE: GPRT) the international shipping company that owns and operates a fleet of container and dry bulk vessels announces that on 18 April 2011 it took delivery of the third new-build geared bulk carrier vessel with 57,000 DWT capacity from the COSCO (Zhousan) Shipyard Co Ltd., in China. The vessel was named 'Pistis' and commenced its agreed one year time charter immediately following delivery, at a daily rate of $14,250. Additionally, on 9 May 2011, the Company took delivery of the new-build bulk carrier vessel with 93,000 DWT capacity from Yangzijiang Shipbuilding Co Ltd., in China. The vessel was named 'D Skalkeas' and commenced its first voyage. Following the delivery of 'Pistis' and 'D Skalkeas', Goldenport's operational fleet consists of 24 vessels.

Seaspan Corporation (NYSE:SSW) accepted delivery of a 4250 TEU containership named the CSAV Lebu from Jiangsu Yangzijiang Shipbuilding Co., Ltd. (YZJ) on June 4, 2010. This is Seaspan's tenth delivery in 2010, expanding the Company's operating fleet to 52 vessels. Compañia Sud Americana de Vapores (CSAV) of Chile accepted delivery of the CSAV Lebu on June 7, 2010. The vessel is on charter to CSAV under a six-year, fixed-rate time charter. It is the last of four 4250 TEU sister ships to be chartered by Seaspan to CSAV, and is the last of fourteen vessels delivered from YZJ to Seaspan.

Seaspan Corporation (NYSE:SSW) announced that it accepted delivery of the Calicanto Bridge from Jiangsu Yangzijiang Shipbuilding Co., Ltd. (YZJ) on May 28, 2010. The 2500 TEU containership is Seaspan's eighth delivery in 2010, expanding the company's operating fleet to 50 vessels. Kawasaki Kisen Kaisha Ltd. (K-Line) of Japan accepted delivery of the Calicanto Bridge on May 30, 2010. The vessel is on charter to K-Line under a ten-year, fixed-rate time charter. It is the last of two 2500 TEU sister ships and the second of a total of seven vessels to be chartered by Seaspan to K-Line. Furthermore, this ship is the last of ten 2500 TEU vessels delivered from YZJ to Seaspan.

Seaspan Corporation (NYSE:SSW) announced the delivery of its 44th and 45th vessels, the Guayaquil Bridge and the COSCO Japan. The Guayaquil Bridge, a 2500 TEU vessel delivered on March 5, 2010, was built by Jiangsu Yangzijiang Shipbuilding Co., Ltd. It is on charter to Kawasaki Kisen Kaisha Ltd. (K-Line) of Japan under a ten-year, fixed-rate time charter. The Guayaquil Bridge is the first of seven Seaspan vessels to be chartered to K-Line. The 8500 TEU COSCO Japan, which was constructed by Hyundai Heavy Industries Co., Ltd., was also delivered on March 5, 2010. The COSCO Japan is on charter to COSCO Container Lines Co., Ltd. (COSCON) of China under a twelve-year, fixed-rate time charter. It is the third of eighteen vessels to be chartered by Seaspan to COSCON.

Seaspan Corporation (NYSE:SSW) has accepted delivery of the CSCL Callao, a 2500 TEU newbuilding. The new containership, which was constructed by Jiangsu Yangzijiang Shipbuilding Co., Ltd., expands Seaspan's current operating fleet to 36 vessels with 32 remaining newbuildings to be delivered over approximately the next three years. The CSCL Callao was delivered on April 8, 2009. The CSCL Callao is subject to a time charter with China Shipping Container Lines (Asia) Co., Ltd. for a twelve-year period at a fixed rate. CSCL Asia is a subsidiary of China Shipping Container Lines Co., Ltd., the world's eighth largest liner company in terms of shipping capacity. Under the terms of the fixed-rate time charter, CSCL Asia is responsible for fuel costs and all cargo operating and related expenses.

Seaspan Corporation announced that it has signed contracts to build four 4250 TEU vessels at Jiangsu New Yangzi Shipbuilding Co., Ltd. in China. These new orders are in addition to the ten 2500 TEU vessels Seaspan previously ordered from Jiangsu Yangzijiang Shipbuilding Co., Ltd., a shipyard affiliated with Jiangsu. The four newbuilding vessels are scheduled to be delivered between March and September, 2009. The total delivered cost is expected to be approximately $66.1m per vessel, subject to certain pre-delivery expenses remaining at budgeted levels. Seaspan also announced that it has arranged simultaneous six-year charter agreements for these four vessels with Compania SudAmerica de Vapores SA (CSAV) of Chile at a rate of $25,925 per day.