Marine Link
Wednesday, October 18, 2017

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.

Essar Acquires Panamax Vessel

Pic: Essar Shipping Limited (ESL)

 The Ruia brothers-led Essar Shipping Limited (ESL) of India has added a Panamax vessel of 74,005 Deadweight Tonnage (DWT) to its fleet of vessels.   With this new induction, Essar Shipping now has a fleet of 14 vessels that include VLCCs, Capesizes, Mini-capes, Panamax, Supramaxes and Handysize bulk carriers.    Essar Shipping’s total DWT capacity now stands at 1.6 million and its average fleet age has fallen to 12 years from erstwhile 13

NYK Distributes Digital Version of Safe Cargo Operation Guidelines

Photo: NYK Europe

 NYK has released a digital version of its “Essential-15” safe cargo operation guidelines for the high quality transport of dry bulk cargo. The new, multilingual version includes digital animations and replaces the previous version, which was a paper document. NYK has distributed the updated guidelines to about 180 NYK-operated bulk carriers through shipowners and ship-management companies.   In 2015

Diana Shipping TC Contract for m/v Ismene with DHL

Ismene. Photo:  Diana Shipping Inc

 Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with DHL Project & Chartering Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Ismene.    The gross charter rate is US$12,000 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter is expected to commence on September 16, 2017.   

Diana Enters TC Contract with Unico Logistics

Maera. Photo: Diana Shipping Inc

 Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Unico Logistics, Seoul, for one of its Panamax dry bulk vessels, the m/v Maera.    The gross charter rate is US$11,900 per day, minus a 5% commission paid to third parties, for a period of minimum nine months to maximum eleven months.   

Diana Shipping TC Contract for Crystalia With Glencore

M/V Crystalia. 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 Ice Class Panamax dry bulk vessels, the m/v Crystalia.    The gross charter rate is US$11,100 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to about 15 months.    The charter is expected to commence later today

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., a coal trading corporation owned by JERA Co., Inc. (67 percent) and EDF Trading Limited (33 percent). JERA Co., Inc.  

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, minus a 5% commission paid to third parties, for a period of about six (6) months up to December 29, 2017. The charter commenced on April 23, 2017.  

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.   The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd

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 81,513 dwt that the Company entered into an agreement to purchase in April 2017.   Including the newly delivered m/v Astarte, Diana Shipping Inc

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.    The gross charter rate is US$9,000 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen  months to maximum seventeen  months. The charter is expected to commence on June 12, 2017.  

Capesize, Panamax Bulkers Carry Baltic Index

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, climbed for the fourth straight session on Monday on improving capesize and panamax rates.   The overall index — which factors in rates for capesize, panamax, supramax and handysize shipping vessels — was up 21 points, or 2.47 percent, at 870 points.   The capesize index gained 43 points, or 2.99 percent, to 1,481 points.  

Star Bulk Acquires Supramax

Photo: Star Bulk Carriers Corp

 Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, has announced that it has entered into a definitive agreement to acquire a Supramax dry bulk carrier from an unaffiliated third party.  The acquisition will be partly financed through debt secured from a financial institution.   The Vessel has a carrying capacity of 56,582 deadweight tons and was built to high specifications at Jiangsu Hantong Shipyard, China in 2011. 

Diana Signs Time Charter with Hudson

M/V Protefs. Photo: Diana Shipping Inc.

 Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated, for one of its Panamax dry bulk vessels, the m/v Protefs.    The gross charter rate is $7,900 per day, minus a 5 percent commission paid to third parties, for a period of minimum 12 months to about 15 months. The charter is expected to commence on June 23, 2017.  

Diana Shipping in Time Charter Contract for Clio with Phaethon

M/v Clio. Photo:  Diana Shipping Inc

 Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Clio.    The gross charter rate is US$8,550 per day, minus a 5% commission paid to third parties, for a period of minimum 13 months to maximum 16 months. The charter is expected to commence on July 3, 2017.  

Diana Shipping's Vessel Melite Grounds off Indonesia

M/V Melite. Photo:  Diana Shipping Inc

 Greek dry bulk owner Diana Shipping's Panamax bulk carrier, Melite, has been temporarily disrupted due to a grounding incident at Pulau Laut, Indonesia.   "The employment of one of its Panamax bulk carriers, the m/v Melite, has been temporarily disrupted due to a grounding incident at Pulau Laut, Indonesia," said a statement from the company.    Although the Company is still assessing the situation

Diana Signs Time Charter with Cargill for Amphitrite

Amphitrite. Photo: Diana Shipping Inc

 Diana Shipping  has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite.    The gross charter rate is US$11,150 per day, minus a 4.75% commission paid to third parties, for a period of minimum 13 months to maximum 16 months. The charter is expected to commence in late September 2017.   

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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