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Panamax Bulk Carrier

Dryships Swaps Older for Newer

DryShips, Inc., announced that the company has entered into an agreement to purchase a 2000 built, 73,288 dwt Panamax bulk carrier for $72m. The vessel will be delivered charter free during the second quarter of 2008.  The Company has entered into an agreement to sell the 1996 built, 73,008 dwt Panamax bulk carrier, the MV Lanzarote, for $65m. Delivery to the new owners will take place during the second quarter of 2008. Once the sale is concluded the Company expects to realize a gain of approximately $36.3m.


Wave of New Bulk Carriers Expected to Upset Freight Rates

Some shipping brokers expect spot freight rates for Panamax bulk carriers to decline next spring when a large number of new bulk carriers enter service. About 100 newly built bulk carriers with cargo capacities of 50,000 to 80,000 tons are to be delivered in 2001, up from about 70 vessels this year, possibly causing rates to fall, the brokers said. Spot rates for Panamax bulk carriers for the U.S. Gulf/Japan route have recently risen to three-and-a-half year highs.


OceanFreight Acquires Panamax Bulk Carrier

OceanFreight Inc., has entered into an agreement to acquire an eighth vessel, a Panamax drybulk carrier, that will immediately commence a two year time charter upon its delivery to the Company later this year. The purchase price of this vessel is $47m. With the addition of this new vessel, the company's fleet will be comprised of one Capesize and seven Panamax bulk carriers aggregating almost 675,000 deadweight tons. Three of the seven vessels in the Company's initial fleet were delivered


China Shipyard Delivers Panamax Bulker to SCI

The Shipping Corporation of India Ltd. (SCI) accepts bulk carrier 'Vishva Vijay' from STX Shipbuilding, Dalian, China. The vessel is the third in a series of four Panamax bulk carriers ordered by SCI from STX (Dalian) Shipbuilding Co. Ltd., China. These vessels are of higher capacity, over 80,000 dwt each, compared with conventional Panamax vessels which are of about 75,000 dwt. MV Vishva Vijay has a gross tonnage of 44,010 tonnes and deadweight of 80,312 tonnes.


Star Bulk Receives Post-Panamax Bulk Carrier

Photo: Star Bulk

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has taken delivery of M/V Star Vega, a Post-Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity. The vessel has commenced a time charter with the sellers of the vessel for a period between 30 months to 34 months, at a gross daily hire rate of $15,000 minus a 1.25% address commission on gross revenues


Norden Sells 4 Post-Panamax Bulk Carriers

Nord Dorado (Photo: NORDEN)

Further tightening its ownership focus within the dry cargo segment to medium-sized Supramax and Panamax vessels, Dampskibsselskabet NORDEN A/S has sold its final four Post-Panamax bulk carriers.   Following the sale, which involved Nord Delphinus (114,167 tdw built in 2010), Nord Dorado (114,167 tdw built in 2010), Nord Pisces (114,167 tdw built in 2010) and Nord Pyxis (114,500 tdw built in 2010), Norden no longer owns Post-Panamax vessels


Premuda To Use $30M Bond To Buy Ships

Italian shipping company Premuda SpA has completed a $30.9 million bond issue in order to acquire more ships. The bond issue will give Premuda greater liquidity and allow it to acquire further bulk ships following a significant upward trend in dry cargo shipping markets, company officials said. Premuda officials said the company's affiliate, United Bulk International, recently acquired two 1993-built Panamax bulk carriers for about $26.7 million.


Pipavav Shipyard Wins $1.06b Order

Pipavav Shipyard has won an order worth $1.06bn to build 26 Panamax bulk carriers, making it India's largest shipbuilding order to date. The orders are from Golden Ocean Group, Norway; SETAF, France; and AVGI Maritime, Greece. Source: Money Control


Euroseas Two-Year Time Charter for Aristides NP

Euroseas Ltd., (NASDAQ: ESEA), an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that a subsidiary of the company has entered into a two-year period time charter agreement for the M/V Aristides NP, a 69,268 dwt, 1993 built Panamax bulk carrier, at a gross daily rate of $18,900. The charter will commence between end February 2010 and mid April 2010.


Norden Sells 4 Handysize Bulk Carriers

Photo: Dennis Schnell, Bulldog and Partners

As Dampskibsselskabet NORDEN A/S further tightens its focus in the dry cargo segment to medium-sized Supramax and Panamax vessels, the company has sold four Handysize dry cargo vessels.   Following the sale of Nord Hong Kong (32,282 tdw built in 2011), Nord Houston (32,389 tdw built in 2011), Nord London (32,312 tdw built in 2011) and Nord Vancouver (32,353 tdw built in 2011), the shipper now owns eight Handysize vessels.  


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


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.  


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


Diana Shipping Annouces Time Charter for Bulker Pair

m/v Erato. Photo: Diana Shipping Inc

 Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Astarte.   


Diana Shipping Signs Time Charter Contract with Caravel

m/v Dione. Photo: Diana Shipping Inc.

 Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Caravel Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione, for a period of minimum nine (9) months to about twelve (12) months


Star Bulk Carriers Announces Private Placement

Photo: Star Bulk Carriers Corp.

 Star Bulk Carriers Corp. announced the closing of its previously announced private placement of 6,310,272 common shares, at a price of $8.154 per share.    The aggregate proceeds to Star Bulk, net of underwriting fees and offering expenses, were approximately $50.6 million


Top Five Panamax Bulk Trades

Image: VesselsValue.com

The Panamax bulker trade is mainly a grains trade, especially soybeans, and is very volatile.   And while it has previously been dominated by vessels moving cargos from Brazil to China, this route has been on a downtrend from a peak during the last quarter 2015, according to VesselsValue


Diana Shipping Extends SwissMarine Charter

M/V Aliki. Photo: Diana Shipping Inc.

 Diana Shipping , through a separate wholly-owned subsidiary, has agreed to extend the present time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Aliki.   The global shipping company specializing in the ownership of dry bulk


Diana Shipping Extends Time Charter Contract for M/v Houston

Photo:  Diana Shipping Inc.

 Diana Shipping  has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with SwissMarine Services, Geneva, for one of its Capesize dry bulk vessels, the m/v Houston


Diana Shipping Announces Time Charter Contracts for Philadelphia

M/S Philadelphia. Photo:  Diana Shipping Inc

 Diana Shipping has 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 Newcastlemax dry bulk vessels, the m/v Philadelphia.   


Star Bulk Acquire Two Modern Kamsarmax Vessels

Photo: Star Bulk Carriers Corp.

 Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, announced that it has entered into definitive agreements to acquire two modern Kamsarmax drybulk carriers from an unaffiliated third party for an aggregate total consideration of approximately


Baltic Index Hits Two-year High

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for dry-bulk carriers, hit a more than two-year high on Wednesday as rates for panamax vessels rose. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 5 points at 1


Baltic Index Posts Biggest Daily Drop in 2 Months

File Image (CREDIT: AdobeStock)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, registered its biggest one-day percentage fall in about two months, primarily on weaker rates for capesize bulk carriers. The overall index, which factors in rates for capesize, panamax


New Coal Carrier Enters Service for JERA Singapore

Isuzu Maru (Photo: NYK Line)

On April 14, newly constructed coal carrier Isuzu Maru was delivered at Oshima Shipbuilding Co. Ltd. in Saikai, Japan.   The new vessel will be operated by NYK Bulkship (Asia) Pte. Ltd., an NYK group company located in Singapore, for the transport of coal for JERA Trading Singapore Pte. Ltd


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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