Dry Bulk Carrier News

Egypt's Suez Canal Authority said on Monday it had conducted repair work on a missile-hit Greek dry-bulk carrier, highlighting its readiness to restore damaged ships passing through the Red Sea.The Malta-flagged, Greek-owned vessel Zografia had berthed at a floating dock of the authority-affiliated Suez Shipyard Company for repairs after the ship's hull and some components sustained external and internal damage in a Jan. 16 attack by Yemeni Houthi forces.The vessel was sailing…

Yemen's Houthi movement will expand its targets in the Red Sea region to include U.S. ships, an official from the Iran-allied group said on Monday, as it vowed to keep up attacks after U.S. and British strikes on its sites in Yemen.Attacks by the Houthis on ships in area since November have impacted companies and alarmed major powers in an escalation of Israel's more than three-month war with Hamas militants in Gaza. The group says it is acting in solidarity with Palestinians.British…

Ecochlor, Inc. has signed a Letter of Intent (LOI) with Diana Shipping Services and carbon capture and storage (CCS) specialist, Sinotech CCS for the installation of a Sinotech scrubber and CCS system onboard one of Diana Shipping’s capesize dry bulk carrier, the MV G.P. Zafirakis.This system is designed to capture 25% of the CO2 emitted within the exhaust gas and temporarily storing it onboard in liquified form (LCO2). Sinotech will provide the expertise for a full feasibility study…

Singapore-based Berge Bulk has launched a ship fitted with steel-and-composite sails to cut fuel consumption and carbon dioxide emissions, with an eye to converting more vessels that ply routes with favourable wind conditions.The dry bulk carrier Berge Olympus, equipped with four sails known as WindWings, is chartered by mining giant Vale and will sail between Brazil and China, Berge said on Tuesday.The sails will save up to 20% fuel or six tons per day on an average worldwide…

Carbon capture, energy efficiency and green fuels are the roadmap to net zero by 2050. That’s the pathway outlined by the 2023 Outlook, Beyond the Horizon: View of the Emerging Value Chains, the latest industry-leading research from ABS into shipping’s progress on the green energy transition.Released at the ABS Sustainability Summit during London International Shipping Week, the report examines in depth the carbon, ammonia and hydrogen value chains. It concludes that the industry will need to accelerate investment in carbon capture technology…

On January 7, 2021, the dry bulk carrier Ocean Princess struck the uncrewed/out-of-service oil and gas production platform SP-83A while operating 24 miles south of Pilottown, Louisiana. Now, some 19 months later,  the National Transportation Safety Board has released an investigation report which showed that poor bridge resource management and a charting error led to the bulk carrier striking the oil and gas production platform.The 24-person crew of the Ocean Princess was drifting overnight in the Gulf of Mexico before going to New Orleans to load a cargo of grain. The master planned to drift throughout the night with the engine on 15-minute standby, keeping clear of traffic and platforms, NTSB said.Area where the Ocean Princess contacted platform SP-83A, as indicated by a red X.

Kongsberg Maritime (KM) and dry bulk owner Berge Bulk signed memorandum of understanding to jointly develop and advance the deployment of decarbonization technologies onboard dry bulk cargo vessels.Berge Bulk aims to be carbon-neutral by 2025, and to have a zero-carbon ocean-going dry bulk carrier by 2030. There are two elements of the joint development project. The first will be to evaluate and test emerging decarbonization technologies for use in the maritime sector. The second…

Shipping company Castor Maritime on Monday announced it has lined up time charter contracts for three of its bulk carriers. The Magic Moon, a 2005 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $25,500. The charter commenced on April 7, 2022, and has a duration of about 25 days.The Magic Rainbow, a 2007 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $16,500. The charter commenced on April 12, 2022, and has a duration of about 60 days.The Magic Horizon, a 2010 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $17,500. The charter commenced on April 15, 2022, and has a duration of about 55 days.

Shipping company Castor Maritime Inc. announced it has secured charter agreements for several of its bulk carriers. The Magic Moon, a 2005 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $25,000. The charter commenced on March 6, 2022, and has a minimum duration of about 30 days.The Magic Argo, a 2009 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate equal to 103% of the average of the Baltic Panamax Index 5TC routes. The charter is expected to commence on April 4, 2022, and will have a minimum duration of twelve months and a maximum duration of fifteen months at the charterer’s option.The Magic Venus…

Shipowner Costamare Inc. announced it has ordered eight newbuild containerships and acquired seven secondhand bulk carriers.The Monaco-headquartered company said Thursday it signed contracts with an unspecified Asian shipyard for two 13,000 TEU capacity newbuilds and exercised options under a previous agreement for two more of the same capacity plus four additional 15,000 TEU capacity vessels. Each of the ships will commence long-term charters with a "leading liner company" upon scheduled delivery between the third quarter of 2023 and first quarter of 2024.Gregory Zikos…

Cyprus-based shipping company Castor Maritime Inc. announced it has secured new charter agreements for several of its bulk carrier vessels.The 2010-built Panamax dry bulk carrier Magic Nova has been fixed on a time charter contract at a gross daily charter rate equal to 92% of the average of the Baltic Panamax Index 5TC routes. The charter commenced on November 17, 2021, and has a minimum duration of eleven months and a maximum duration of about fourteen months (+/- 15 days) at the charterer’s option.The 2006-built Capesize dry bulk carrier Magic Orion has been fixed on a time charter contract at a gross daily charter rate equal to 101% of the average of the Baltic Capesize Index 5TC routes.

Cyprus-based shipping company Castor Maritime announced on Thursday that it has fixed two of its bulk carriers on time charter agreements. The 2006-built Capesize dry bulk carrier Magic Orion has been fixed on a time charter contract at a gross daily charter rate of $73,000. The charter is expected to commence on or around October 8, 2021, and will have a duration of about 45 days.The Magic Eclipse, a 2011 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $28,500. The charter commenced on September 14, 2021, and has a minimum duration of eight months and a maximum duration of ten months (+/- 15 days) at the charterer’s option.

Shipping company Castor Maritime on Monday announced a trio of new time charter agreements.The Magic Nebula, a 2010 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $31,750. The charter commenced on September 4, 2021, and has a minimum duration of six months and a maximum duration of eight months (+/- 15 days) at the charterer’s option.The Magic Moon, a 2005 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $30,250. The charter commenced on August 31, 2021, and has a duration of about 90 days.The Magic Nova, a 2010 built Panamax dry bulk carrier…

The lack of accurate tow size information and two pilots’ insufficient radio communication led to a fatal collision between two towing vessels in the Lower Mississippi River near Destrehan, La., according to a National Transportation Safety Board Marine Accident Brief released Thursday.Marine Accident Brief 21/16 details the NTSB’s investigation of the Jan. 26, 2020, collision of the towing vessels Cooperative Spirit and RC Creppel. The RC Creppel, which capsized in the accident, had four crewmembers aboard — one was rescued and three others were never found.

Castor Maritime announced it has acquired a 2013 Japanese-built Kamsarmax dry bulk carrier for $21 million, marking the Cyprus-based shipping company's 18th vessel acquisition of 2021.Castor did not name the seller, but said it expects to take delivery of the vessel within the second quarter or beginning of the third quarter of this year.The Nasdaq-listed company has been swiftly expanding its dry bulk fleet, having bought three bulk carriers in 2020 and another 10 so far in 2021.

Cyprus-based shipping company Castor Maritime has agreed to acquire a 2015 Chinese-built Kamsarmax dry bulk carrier from an unaffiliated third party for $23.5 million. The vessel comes with a charter contract included."The vessel will be delivered to the Company with a time charter contract attached with a reputable charterer, at a daily gross charter rate equal to 114% of the Baltic Panamax Index, and with an estimated remaining term of about 17 to 21 months," Castor Maritime…

BHP Group Ltd said on Thursday it completed its first refueling of a ship with biofuel this month in a trial run that is part of its efforts to reduce carbon emissions.It was also the first time that a ship has been refueled with biofuel in Singapore, the world's largest bunkering hub.A biofuel blend derived from certified sustainable feedstock sources such as cooking oil, crude tall oil and sewage sludge was used on April 4 to refuel the 81,000 deadweight tonne dry bulk carrier…

Canadian shipping company Algoma Central Corporation announced Monday that it has taken delivery of its new dry bulk carrier Captain Henry Jackman from the Jiangsu Yangzi-Mitsui Shipbuilding Company in China.The vessel is expected to begin trading on the Great Lakes in late June following its transit from China to Canada via the Panama Canal. The voyage is scheduled to commence in mid-April.The Captain Henry Jackman is the fifth Equinox Class gearless dry-bulk carrier and the tenth Equinox Class vessel to join the Algoma fleet. It is also the most efficient.

Forward freight agreement (FFA) trades for a basket of 38,000-dwt handysize time charter rates will help operators take longer-term cover with less risk, says shipbroker Simpson Spence Young.Following an ever-strengthening charter market, SGX have confirmed a launch date for the new offering as April 19, 2021, with EEX aiming for early May pending regulatory approval. Both exchanges are keen to promote clearing of the new contract.The handysize futures market was previously based on the Baltic Exchange's old 28…

Dry bulk shipping firm Castor Maritime has struck a deal to buy a 2010 Korean-built Kamsarmax dry bulk carrier from an unaffiliated third-party for $14.8 million. It did not reveal the identity of the seller.The acquisition is expected to be consummated by taking delivery of the vessel sometime in the end of the first quarter or beginning of the second quarter of this year and is subject to the satisfaction of certain customary closing conditions. Castor Maritime said.Petros Panagiotidis…

Following a string of bulk carrier vessel sales and a plan to order an offshore wind installation vessel, dry bulk carrier operator Scorpio Bulkers on Sunday said its Board of Directors had authorized the company, as part of its transition to a sustainable future, to sell its remaining dry bulk vessels and exit the dry bulk sector during 2021. "As a result of this decision, the company expects to record a write-down ranging from $475.0 million to $500.0 million on vessels sold and classified as held for sale…

Canadian shipping company Algoma Central Corporation announced it has taken delivery of its second Equinox 650-foot Class self-unloading dry-bulk carrier, Algoma Intrepid.The new vessel, the ninth Equinox Class vessel to join the Algoma fleet, has begun her voyage across the Atlantic to Canada from the 3 Maj Shipyard in Croatia to Canada where she is expected to begin trading on the Great Lakes in November.Algoma Intrepid is the sister ship to the Algoma Innovator, which entered…

Saudi Arabia's national shipping company Bahri has ordered ten 49,999-dwt Medium Range (MR) chemical tankers from Hyundai Mipo Dockyard, part of South Korea's Hyundai Heavy Industries (HHI).Bahri said the order, signed at a virtual ceremony,  was valued $410 million, meaning $41 million per vessel. The first deliveries are expected in the first quarter of 2022.Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI, said the latest order would bring the tally of various types of vessels that HHI has built for Bahri to 61.In May 2020…