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COSCO China Shipyards Diminish Group Q1 2013 Profits

The Group achieved $9.7 million net profit on turnover of $733.0 million in Q1 2013, but shipyard & drybulk operations contributions down. In Q1 2013, turnover from shipyard operations decreased by 25.5% to $719.2 million from $965.9 million in Q1 2012, owing to lower revenue contribution from the ship repair and ship building segment. The Group delivered 7 bulk carriers in Q1 2013. Of these, COSCO Zhousan and COSCO Guangdong shipyard delivered 2 bulk carriers each while COSCO Dalian shipyard delivered 3 bulk carriers. Turnover from dry bulk shipping and other businesses increased 7.8% from $12.8 million in Q1 2012 to $13.8 million in Q1 2013. Outlook As the Group continues construction in 2013 on new ship building contracts that were secured in 2010 to 2012 at low contract values due to the slumping bulk carrier shipping market then, the Group expects operating margins on these new shipbuilding projects to continue to be under great pressure notwithstanding improving gains in efficiency and productivity. In offshore marine engineering operations, the Group aims to enhance its offerings. It is currently one of the largest marine engineering groups in the People’s Republic of China. Offshore marine projects in its order book as at 31 March 2013 include 1 deep-water drillship, 1 FPSO, 1 semi-submersible accommodation rig, 1 semi-submersible accommodation vessel, 1 jack-up barge, 1 semi submersible, 1 wind turbine installation vessels, 2 pipelay vessels


Hijacking Suspected By Somali Pirates

Map by Oceans Beyond Piracy

 Somali pirates are suspected of hijacking a bulk carrier ship on one of the world's crucial trade routes, Reuters reported.   The United Kingdom Maritime Trade Operations piracy watchdog said on its website it had received a report from a vessel under attack and possibly boarded off the coast of war-ravaged Yemen. It gave no further details.   However, a security source working at the Puntland Marine Police Force said the vessel was Tuvalu-flagged and is known as OS35


Bulk Carrier into Unithai for Fix

The largest ship currently under repair at Thailand’s Unithai Shipyard is the 140,532 dwt bulk carrier Eurydice D, owned by Marmaras. Other ships in the yard include the 35,224 dwt bulk carrier Maris, owned by Trust Shipping Enterprise, Piraeus, the 22,857 dwt part containership Med Lerici, owned by B Navi, World CI’s 3,043 dwt lpg vessel Gas Eurasia, the 22,531 dwt general cargo vessel Everise Glory, owned by Everise Maritime, Kuala Lumpur, and Baba Kaiun’s 10


China's Taizhou Sanfu Yard Launches Bulker

Photo credit: Taizhou Sanfu

Taizhou Sanfu Ship Engineering Co. launch a 92,500 dwt bulk carrier for Indian owners   The builders say that this was the first PSPC compliant vessel ever built in their yard (referring to IMO's 'Performance Standard for Protective Coatings) which applies to dedicated seawater ballast tanks in all types of ships and double-side skin spaces of bulk carriers.   The vessel is 230.0 m LOA, with a molded breadth of 38.0m, and a design draft of 12.50 m. Speed is 14.90 knots


CNCo Christened MV Tunsin at Imabari Shipyard

MV Tunsin Photo CNCo

The China Navigation Company (CNCo) christened its last newbuild bulk carriers, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series. CNCo ordered four handysize bulk carriers (Imbari38 loggers) from Imabari Shipbuilding in 2014. Deliveries of the first three vessels, MV Taiyuan, MV Tientsin and MV Tsingtao took place between July and October this year


Diana Shipping Time Charter Contracts

Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the transportation of dry bulk cargoes, announced that it has entered into a time charter contract with Louis Dreyfus Commodities Suisse S.A., for one of its Panamax dry bulk carriers, the m/v Nirefs, at a gross charter rate of $21,000 per day for a period of about 23 to about 25 months. The charter is expected to commence in the middle of February 2010.


GL Offers New Bulk Carrier Database

Shipping companies and owners of bulk carriers can now use a new database developed by Germanischer Lloyd to obtain comprehensive information about all requirements relating to the structural and equipment aspects in relation to the cargoes to be conveyed in each case. The new cargo compliance tool "PROTOS" (Provisions for Transportation of Solid Bulk Cargoes) was presented at the first Bulker Forum, which was attended by over 40 shipowners and business partners.


Dunkerque-max M/V Cape Garland Delivered

20090130_ph01.jpg

Mitsui Engineering & Shipbuilding Co., Ltd. completed and delivered the 177,000 dwt type bulk carrier MV Cape Garland (Hull No. 1693) at its Chiba Works on January 30, 2009. This ship is the newly designed Cape-size Bulk Carrier of Dunkerque-max Type. It has a double-side skin to cargo holds construction. A Dunkerque-max type is a common name for Cape-size Bulk Carriers built to the restriction of the port of Dunkirque, France


G E Shipping Takes Delivery of Bulker

G E Shipping

  The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel was ordered by GE Shipping in July 2013 and has been built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines. The said vessel was contracted for sale in August 2015 and will be delivered to the new buyers this month. (See: http://www.greatship.com/pdf/JagAakashSale.pdf)


Bureau Veritas Issues First EEDI Certificate

Sinopacific's Crown63 class Bulk Carrier, JS Amazon, gains BV's first EEDI rating   Leading international classification society Bureau Veritas has issued its first EEDI (Energy Efficiency Design Index) certificate to the ultramax geared bulk carrier JS Amazon, the lead ship in a new generation of ‘CROWN63’ vessels developed by China’s  Sinopacific Shipbuilding Group with bulk carrier expert Setaf-Saget.  


GOGL Adds Dry Bulk Vessel

Golden Shui. Photo: Golden Ocean Group Ltd

 Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of a dry bulk which it bought in March 2017.   On 14 March 2017, GOGL announced that it has entered into agreements to acquire 16 modern dry bulk vessels in an all-share transaction where the


COSCO (Dalian) Shipyard Delivers Flag Lama

Photo: COSCO (Dalian) Shipyard

 COSCO (Dalian) Shipyard Co has delivered an bulk carrier, “FLAG LAMA”, to its European buyer, the company said in its press release.    The delivery documents were signed by and between COSCO Dalian and the buyer recently.   


Diana Shipping Adds m/v Astarte

Photo: Diana Shipping Inc

 Diana Shipping, a company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Astarte (formerly “Seatrust”).   Astarte  is a 2013 built Kamsarmax dry bulk vessel of 81


EMP Inks Deal to Supply Aquarius MAS

Marine grade solar panel and frame at Teramoto Iron Works, Onomichi, Japan (Photo: EMP)

 Eco Marine Power (EMP) has signed a Memorandum of Understanding (MOU) with a Singapore based shipping company to supply its Aquarius Management and Automation (MAS) + Solar solution. The solution will also include hardware and software that will allow ships to monitor fuel oil consumption in


Oldendorff Taps Verifavia for EU MRV Compliance

Photo: Oldendorff Carriers

Dry bulk vessel owner and operator Oldendorff Carriers said it has appointed emissions verification company Verifavia to verify its fleet of vessels in line with the European Union’s new environmental Monitoring, Reporting and Verification (EU MRV) regulation


862 Vessels Scrapped in 2016 -Report

© Stanislau Beloglazov / Adobe Stock

Each year the NGO Shipbreaking Platform collects data and publishes an annual list of ships dismantled world-wide. Of the 862 vessels dismantled in 2016, 668 were sold for breaking on the beaches of South Asia.  Most vessels scrapped in 2016 were bulk carriers


Eagle Bulk Takes Delivery of Stonington Eagle

Photo:  Eagle Bulk Shipping

Eagle Bulk Shipping has taken delivery of the M/V Stonington Eagle, the third of nine Crown-63 Ultramax dry bulk sister vessels acquired from Greenship Bulk Trust for an aggregate price of $153 million. With the addition of the M/V Stonington Eagle


Diana Adds Post-Panamax Bulker, Bags Contracts

Photo: Diana Shipping

 Diana Shipping announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Phaidra (formerly “Soya May”), a 2013 built Post-Panamax dry bulk vessel of 87,146 dwt that the Company entered into an agreement to purchase in April 2017.  


Oldendorff Appoints Verifavia for EU MRV Verification

Photo: Verifavia Shipping

 Oldendorff Carriers has appointed Verifavia to verify its fleet of vessels in line with the European Union’s Monitoring, Reporting, and Verification (EU MRV) regulation.   Oldendorff Carriers  is one of the world’s leading Owner/Operators of dry bulk carriers


Eagle Bulk Shipping Reports Q1 Loss

Photo: Eagle Bulk Shipping Inc

Eagle Bulk Shipping reported a loss of $11.1 million in its first quarter. It posted revenue of $45.9 million in the period. Gary Vogel, Eagle Bulk's CEO, commented, “During the first quarter, Eagle finalized the acquisition of 9 Crown-63 Ultramax dry bulk sister vessels – a


Saqr Port Orders Damen ASD Tug

Photo: Damen

Saqr Port, part of Rash Al Khaimah (RAK) Ports, has signed a contract with the Damen Shipyards Group for the delivery of an ASD 2913 tug. The vessel will be built a short distance away at Albwardy Damen in Sharjah and will be delivered in time for the opening of the new bulk terminal at Saqr Port


Crude Oil Tanker Demolition Bucking the Trend -BIMCO

© katiekk2 / Adobe Stock

 Four very large crude carriers (VLCC) have been sold for demolition since October 2016, matching the number of VLCCs sold for demolition in the preceding two years, according to BIMCO.   Most recently the 1999-built double-hull VLCC with the framing name Good News returned $15


Dry Bulk Shipping Remains Positive: Drewry

© Sebastian / Adobe Stock

The outlook for dry bulk shipping remains positive given the shrinking supply-demand gap, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.   With high demolition activity and low deliveries the fleet is expected to grow at a slow


Largest Ship To-date Transits Expanded Panama Canal

The COSCO Development transiting the Panama Canals Cocoli Locks, making it the largest vessel to transit the Expanded Canal. (Photo: Panama Canal Authority)

The 13,092 TEU Neopanamax containership COSCO Development, which measures 366 meters in length and 48.2 meters in beam, today became the largest vessel both in dimension and capacity to transit the Expanded Panama Canal since it was inaugurated in June 2016.  


Diana Shipping Gets Time Charter Contracts for Three Vessels

Photo: Diana Shipping Inc

 Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York.    The gross charter rate is US$14,450 per day






 
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