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Wednesday, April 25, 2018

Bulk Carrier News

MAN Powers World’s First LNG-fueled Bulk Carrier

(Photo: Lloyd's Register)

The world’s first liquefied natural gas (LNG) fueled bulk carrier, the 50,000 dwt newbuild Ilshin Green Iris, is powered by state-of-the-art technology from MAN Diesel & Turbo. The groundbreaking vessel, delivered in February 2018 for owner Ilshin Logistics, was constructed by South Korean shipbuilder Hyundai Mipo Dockyard (HMD) as part of a project announced in July 2016 to develop the first in a new generation of environmentally-friendly LNG-fueled bulk carriers. A single MAN B&W 6G50ME-GI two-stroke engine powers the 191-meter bulk carrier…

Thorco Bulk Renamed

(Photo: Trithorn Bulk)

Danish dry bulk carrier Thorco Bulk announced today it has been renamed Trithorn Bulk with immediate effect. “This is a natural development for our company. We wish to further strengthen our corporate identity and position in the market by taking a name that truly expresses what the three of us, the trio from North of Denmark, has built together with Thornico,” Trithorn Bulk management explained on the company’s website. The name change includes no changes to the legal entity or to the ownership, status management and personnel.

Bulk Carrier Crashes into a Mansion in the Bosphorus Strait

Photo: © M.L. Jacobs / MarineTraffic.com

A massive bulk carrier has crashed into an historic mansion on the shores of Istanbul's Bosphorus Strait after its steering equipment became locked, Al Jazeera reported quoting Turkish state media. The Maltese-flagged Vitaspirit, a 225-meter (740 foot) vessel en route from Russia to Saudi Arabia has been moored in the Marmara Sea for investigation, with the owners of the mansion demanding proper prosecution against those in charge of maritime traffic. Anadolu Agency said that there were no immediate reports of casualties…

Star Bulk Acquires 16 Ships

Photo courtesy Star Bulk

Star Bulk Carriers Corp. agreed to acquire 16 vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction. As consideration for the Vessel Acquisition, Star Bulk has agreed to issue approximately 10.5 million common shares to the sellers of the 16 vessels, equal to approximately 14.1% of Star Bulk’s common shares after the closing of the Vessel Acquisition. Under the terms of the agreement with the sellers, the consideration…

Injured Bulk Carrier Crewmember Medevaced

(U.S. Coast Guard file photo)

A U.S. Coast Guard helicopter crew medevaced an injured Chinese crewmember from a bulk carrier Tuesday night in the Atlantic Ocean, approximately 175 nautical miles northeast of Puerto Rico. Coast Guard watchstanders in San Juan received the medevac request at 5 p.m., Monday from the Panamanian-flagged Bunun Hero for a crewmember who sustained multiple broken bones and a head injury after falling from a crane onboard the ship.The 587-foot Bunun Hero was en route to Europe and approximately 525 nautical miles northeast of Puerto Rico…

Liebherr´s New Floating Crane Goes to Market

New Liebherr high performance four-rope-grab crane design CBG 360.

The latest four rope grab crane development of Liebherr´s floating crane segment is going to be installed on a converted handymax bulk carrier (45,000 DWT) with a total length of 185 m and a breadth of 30.5 m. The ship will be retrofitted with the two Liebherr bulk handling cranes at the Turkish shipyard Kuzey Star Shipyard Tuzla / Istanbul. After completion of the conversion in early 2019, the ship will be used as a transshipment solution for grain handling in the Black Sea and…

Star Bulk Carriers Acquires 16 Vessels

Photo:  Star Bulk Management Inc.

Star Bulk Carriers Corp announced that it has agreed to acquire 16 vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction. As consideration for the Vessel Acquisition, Star Bulk has agreed to issue approximately 10.5 million common shares to the sellers of the 16 vessels, equal to approximately 14.1% of Star Bulk’s common shares after the closing of the Vessel Acquisition. Under the terms of the agreement with the sellers…

South Korea Eximbank Pledges Huge Loans to Shipping

Image: Export-Import Bank of Korea

As part of the government's large-scale rescue plan for shipping sector, the Export-Import Bank of Korea  (Korea Eximbank) sets a figure for loans and guarantees to the country's shipping sector. According to Yonhap, Korea Eximbank will funnel more than 800 billion won ($749.3 million) in shipping finance as a part of the state-sponsored program to revive the shipping industry following the collapse of Korea’s flag sea carrier Hanjin Shipping. The five-year plan for rehabilitating the maritime sector involves the building of more than 200 ships…

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 10,100 dwt bulk carrier Ayutthaya Ruby. Also due is the 25,486 dwt bulk carrier Maritime Trader, owned by IMC Shipping.

COSCO Deliver Two China-built Bulk Carriers

Bulk Carrier Sicilian Express: Photo credit Vroon

COSCO Corporation (Singapore) subsidiary shipyards in China deliver bulk carriers to two European buyers. COSCO (Dalian) Shipyard Co., Ltd has delivered a bulk carrier of 92,500 dwt, Sicilian Express, a post-panamax bulk carrier and the last in a series of four bulk carriers being built for Vroon at this shipyard. The ship measures 229.17 meters in LOA, 38.01 meters in breadth and 20.7 meters in depth. Secondly COSCO (Guangdong) Shipyard has delivered a bulk carrier of 57,000 dwt, Chios Sunrise, to its European buyer.

MES Delivers Pair of Bulk Carriers

M.V. CAPE CELTIC, 177,000 DWT Dunkerque-max Type Bulk Carrier Delivered. (Photo: MES)

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 56,000 dwt type bulk carrier M.V. “DESERT CONDOR” (MES Hull No. 1776) at its Tamano Works on September 29, 2011 to New Borough Corp., Marshall Islands. This vessel is a handy-max type bulk carrier of 56,000 dwt with a huge cargo hold capacity over 70,000 m3 and marks the 133rd ship of its series. This 56,000 dwt type bulk carrier series of MES is widely called “Mitsui’s 56” and is highly appreciated in the market. About 170 units of this series have been ordered from MES.

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. Japanese shipbuilders have landed a large proportion of orders to build those bulk carriers, which now constitute the largest and most important category of ships built in Japan.

DryShips adds Dry Bulk Carriers

Greek shipping company DryShips Inc., which specializes in dry bulk carriers, has sold a pair of older ships and added two newer vessels to its fleet. The company sold its 24-year-old Panamax bulk carrier MV Striggla for $12.1 million and its 17-year-old Panamax bulk carrier MV Daytona for $25.3 million. DryShips expects to book a combined gain of about $15 million from the divestitures. Meanwhile, the company bought a 10-year-old Capesize bulk carrier, MV Cape Venture, for $62 million. The vessel is scheduled for a charter-free delivery in the first quarter of 2007. DryShips also purchased MV Sea Epoch, an 8-year-old Panamax bulk carrier, for $38 million. It is scheduled for a charter-free delivery in the second quarter of next year.

China COSCO Shipyards Deliver Two More Bulk Carriers

COSCO (Guangdong) and COSCO (Dalian) Shipyards have each recently delivered bulk carriers to European owners. COSCO (Guangdong) Shipyard Co., Ltd has delivered a bulk carrier of 35000 dwt, “CHIOS LUCK”, to its European buyer. The bulk carrier measures 179.99 meters in LOA, 30 meters in breadth and 14.7 meters in depth. COSCO (Dalian) Shipyard Co., Ltd has delivered a bulk carrier of 92500 dwt, “OCEAN TOPAZ”, to its European buyer. The bulk carrier measures 229.17 meters in LOA,  38.01 meters in breadth and 20.7 meters in depth. COSCO informs that both the delivery documents were signed by and between the COSCO shipyards and the respective buyers in May 2013.

COSCO Delivers Three Large Bulk Carriers

COSCO Corporation (Singapore) announce that subsidiaries of the Company’s 51% owned COSCO Shipyard Group have delivered three more bulk carriers to Asian owners 1. COSCO (Guangdong) Shipyard Co., Ltd has delivered two bulk carriers of 57000 DWT, “Wuxing 5” and “APJ SHIRIN”, respectively to its Asian buyers. 2. COSCO (Dalian) Shipyard Co., Ltd has delivered a bulk carrier of 92500 DWT, “OCEAN SAPPHIRE”, to its Asian buyer. All the delivery documents were signed by and between the COSCO shipyards and the respective buyer in May 2012. The bulk carriers of 57000 DWT measure 189.99 meters in LOA (length of all), 32.26 meters in breadth and 18 meters in depth. The bulk carrier of 92500 DWT measures 229.2 meters in LOA (length of all), 38 meters in breadth and 20.7 meters in depth.

HSL May Hand Over Bulk Carrier to Navy

Image: Hindustan Shipyard Limited

Hindustan Shipyard Limited (HSL) may sell its bulk carrier under construction at the yard to the Indian Navy, reports the Hindu. Goodearth Maritime Limited (GML) has failed to settle its dues for nearly a year after placing the order under Diamond Series of 53,000 DWT bulk carriers. GML has defaulted in payment of nearly Rs.20 crore. Despite several reminders, they have not cleared the dues. The bulk carrier, on which HSL has completed 70 per cent of the work, is lying idle at the outfitting jetty blocking the space for undertaking other activities.

Chinese Shipyard Delivers Another Bulk Carrier

COSCO announce delivery of 92,500 dwt bulk carrier to a European buyer from its Zhoushan, China, Shipyard The Board of Directors of COSCO Corporation (Singapore) Limited announces that COSCO (Zhoushan) Shipyard Co., Ltd, a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 92500DWT, "TRANS HANGZHOU", to its European buyer. The delivery documents were signed by and between COSCO Zhoushan and the buyer on 27 April 2012. The bulk carrier measures 229.2 meters in LOA (length of all), 38 meters in breadth and 20.7 meters in depth.

Chinese Shipyards Get More Bulk Carrier Contracts

COSCO shipyards in Guandung and Zhoushan obtain bulk carrier orders worth $198M  COSCO (Guangdong) Shipyard has been contracted by a European company to build a 35,000 dwt bulk carrier scheduled for delivery in the first quarter of 2013. Separately, COSCO (Zhoushan) Shipyard has secured two contracts and four option contracts from another European company to build a total of six units of 64,000 dwt bulk carriers with eco-friendly and fuel-efficient designs. The two contracts will become effective following approval from the shipbuilder's board of directors.

COSCO Zhoushan Shipyard Delivers Another Bulk Carrier

COSCO Corporation announce delivery of a 57,000 dwt bulk carrier to a European buyer COSCO Corporation (Singapore) Limited announces that COSCO (Zhoushan) Shipyard Co., Ltd ("COSCO Zhoushan"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 57000DWT, named "SUPERIOR", to its European buyer. The delivery documents were signed by and between COSCO Zhoushan and the buyer recently The bulk carrier measures 189.99 meters in LOA, 32.26 meters in breadth and 18 meters in depth.  

COSCO Rolls Out Another Bulk Carrier

An 80,000 dwt bulk carrier has been delivered from COSCO's Dalian (China) shipyard COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 80000DWT, Peruvian Express, to its European buyer. The bulk carrier measures 229 meters in LOA, 32.26 meters in breadth and 20.25 meters in depth. The delivery documents were signed by and between COSCO Dalian and the buyer in July 2012.  

Massoel S.A. Orders Three Bulk Carriers

Swiss shipowner Massoel S.A. reportedly has ordered three Handymax bulk carriers in cooperation with Norway's B Skaugen shipping group. The 46,000-dwt vessels are scheduled for delivery between March and October 2001 from Japan's Mitsui Engineering and Shipbuilding. Skaugen has stakes in two of Massoel's existing bulk carriers while Massoel has an interest in the Norwegian company's Handymax bulk carrier Skaustrand.

Signed Contracts for Acquisition of Two Resale Supramax Bulk Carriers

The  Shipping  Corporation  of  India  Ltd. (SCI) has signed contracts for acquisition of two resale Supramax bulk carriers with M/s Grand Yard. Investments Ltd., China on 15th April, 2011. These vessels have been acquired through a competitive global tendering process and SCI has selected the vessels of M/s Grand Yard Investments based on the technical suitability and commercial competitiveness. These  vessels  are  presently  under  construction  at M/s Guoyu Shipyard, China which is under the same group of M/s Grand Yard Investments Ltd.

Great Eastern Shipping to Sell Large Cargo Ship

Picture: Great Eastern Shipping Company Ltd

India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end. "The vessel will be delivered to the buyers during the fourth quarter (January-March) of the current fiscal," the company said in a statement. Capesize dry bulk carriers, the largest cargo ships plying in international waters, are mainly used to transport coal, ores and other commodity material.

Maritime Reporter Magazine Cover Apr 2018 - Offshore Energy Annual

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