Chinese Shipyard Delivers Bulker to Paragon Shipping

Press Release
Wednesday, June 20, 2012

Greek-based Paragon Shipping announce delivery of Its second 'Handysize' dry bulk carrier

Paragon Shipping Inc. announce that it has taken delivery of the M/V Precious Seas, a 37,205 dwt Handysize vessel, from the Zhejiang Ouhua Shipbuilding Co. in China.

The vessel has been chartered out to Cargill International S.A. for a period of 23 to 26 months at a gross daily rate of $12,125.

In addition, the Charterers have the option to extend the charter period for an additional 11 to 14 months at a gross daily rate of $15,500.

The new time charter contract is anticipated to contribute a minimum of about $8.5 million of gross revenues to the Company. Based on the latest redelivery dates, the Company's contracted revenue days currently stand at 94% in 2012, at 68% in 2013 and at 35% in 2014.

Paragon Shipping is a Marshall Islands-based international shipping company with executive offices in Athens, Greece, specializing in the transportation of drybulk cargoes. The Company's current fleet consists of twelve drybulk vessels with a total carrying capacity of 779,270 dwt. In addition, the Company's current newbuilding program consists of two Handysize drybulk carriers that are scheduled to be delivered in 2012, and two 4,800 TEU Containerships that are scheduled to be delivered in 2013.

 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Kirby Selects ABS as Subchapter M Solutions Provider

Proactive effort shows commitment to safety and environmental protection. ABS, a provider of maritime shipping and offshore classification services, has been

Asia-Europe Box Rates Soar Again

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 29 percent to $763 per 20-foot container (TEU) this week data from

G E Shipping delivers “Jag Aakash” to Buyers

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015.

Shipbuilding

CTruk Delivers Wind Farm Support Vessel

Shipbuilder CTruk Boats, a manufacturer of composite wind farm support vessels (WFSV), has delivered the second workboat in a two-craft order from CWind.   The

G E Shipping delivers “Jag Aakash” to Buyers

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015.

Hanjin Rolls Out First Philippine-made LPG carrier

Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), which operates the world's fourth shipbuilding facility in Subic Freeport Zone, unveiled the

Bulk Carrier Trends

Kirby Selects ABS as Subchapter M Solutions Provider

Proactive effort shows commitment to safety and environmental protection. ABS, a provider of maritime shipping and offshore classification services, has been

G E Shipping delivers “Jag Aakash” to Buyers

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015.

Recent Vessel Sales - August 2015

Vessel sales for August 2015 (as of September 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built - (Age)

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3656 sec (3 req/sec)