Bulk Carrier Vessels News

Castor Maritime announced it has reached deals to sell two bulk carrier vessels to entities owned by a family member of Castor Maritime's chairman, CEO and CFO, Petros Panagiotidis.Under separate agreements signed January 19, 2024, the Cyprus-based company sold the 2010-built Panamax bulk carriers Magic Nova and Magic Horizon for $16.1 million and $15.8 million respectively. Both vessels are expected to be delivered to their new owners by the end of the first quarter of 2024.The deals' terms were negotiated and approved by a committee of Castor Maritime's independent directors…

Lauritzen Bulkers announced it has taken full ownership of three additional secondhand bulk carrier vessels in the month of August.The three geared capesizes were built between 2015 and 2017.Asian Bulker is a handysize built in 2017 with a summer DWT of 36,169 mt, taken over by Lauritzen Bulkers on August 14.Australian Bulker is a handysize also built in 2017 with a summer DWT of 36,184 mt, taken over by Lauritzen Bulkers on August 16.Iceland Bulker (previously Glorious Mahuta) is another handysize vessel with a summer DWT of 37,775 mt and was taken over on August 24.

Finland-based marine technology group Wärtsilä will partner with Transworld Group to apply what it says are the most advanced decarbonization modeling capabilities to the bulk carriers sector of Orient Express lines of Dubai.Orient Exrpress is owned by Transworld Group and Managed by Transworld Ship Management (TWSM), one of India's premium private sector ship management firms. The project aims to provide decision-making support by simulating the impact of efficiency upgrade technologies on the vessel’s environmental performance.

The U.S. Army Corps of Engineers, Detroit District works on unlocking the Great Lakes by providing a much-needed resiliency at the Soo Locks with the construction of the New Lock at the Soo. The New Lock at the Soo will be the same dimensions as the Poe Lock, 1,200 feet long, 110 feet wide and 30 feet deep.Often called the “linchpin” of the Great Lakes navigation system, the Soo Locks are located in Sault Ste. Marie, Michigan between the upper Peninsula of Michigan and the Canadian province of Ontario. The Soo Locks enable bulk carrier vessels to safely bypass the swift-moving St.

ESL Shipping’s subsidiary AtoB@C Shipping informs it has declared an option to order for five additional hybrid-electric bulk carrier vessels from the Indian shipyard Chowgule & Company Private Limited, from which the shipping company has previously ordered seven identical vessels.Of the series of 12 new-generation electric hybrid vessels, every other vessel is sold to a company formed by a group of investors. As previously announced, the total amount of ESL Shipping's own investment…

Algoma Central Corporation and Nova Marine announced their global short sea shipping joint venture NovaAlgoma has acquired five secondhand bulk carrier vessels, including three cement carriers from KGJ Cement in Northern Europe and two handy-size bulk carriers from Swire Bulk Holdings Pte. Ltd. of Singapore.“We carefully consider each opportunity for growth and these vessel purchases fit perfectly into our long-term plan for sustaining a profitable business alongside our partners at Nova Marine,“ said Gregg Ruhl, President and CEO of Algoma Central Corporation.

Ship management firm Eastern Pacific Shipping (EPS) announced it will no longer carry coal cargos on its bulk carrier vessels as a matter of company policy aimed at supporting the global transition away from the fossil fuel.EPS' commercially managed dry bulk fleet hasn't carried coal since April 2020, and the Singapore-based tonnage provider made its commitment official this month, outlining its "no coal cargo policy" within its 2022 environmental, social and governance (ESG) policy report published on Tuesday.

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.

The Panama Ship Registry is the largest in the world since 1993. This year, most of the vessels that entered the Panamanian registry were bulk carrier vessels. Panama-flagged bulk carriers represent 22% of the world´s bulk carrier fleet, with 2,725 vessels and 112.1 million gross tons (GT), according to Clarksons Research.Between January and August 2021, Panama has incorporated 218 newly-built ships to its fleet, contributing 6.6 million GT, of which 61 vessels are from the bulk carrier segment.Additionally…

UK-based Global Energy Group and Swiss-based integrated energy company, Proman have partnered up to develop a renewable power to methanol plant using local sources of captured CO2 to be located at the Nigg Oil Terminal in the Highlands of Scotland.GEG is also the owner of the Nigg Oil Terminal and Proman is the second-largest methanol producer in the world-GEG said that the development of an industrial-scale renewable power to methanol production facility with CO2 to be provided from local industrial sources will be known as the “Cromarty Clean Fuels Project“.

DESMI Ocean Guard A/S said a new configuration of its CompactClean ballast water management system (BWMS) geared specifically for bulk carrier vessels has been approved by both the U.S. Coast Guard and the Danish Maritime Authority.The CompactClean Bulker configuration, an additional product line to the existing CompactClean product lines, is designed for higher flowrates during de-ballast solving one of the main operational issues faced by bulk carriers complying with ballast water regulations…

Danish marine safety equipment manufacturer, Daniamant voiced its support of the German government's proposal to make electronic inclinometers mandatory for new build container and bulk carrier vessels.The Marine Safety Committee (MSC) of the International Maritime Organisation (IMO) has recently approved the German government’s proposal.Kevin Rough, CEO of Daniamant, comments, “Electronic inclinometers are an important safety product designed to support the on-board decision-making process and help reduce risk to crew and vessels. As a safety company that designs and creates products to help keep crew safe at sea, we fully welcome the…

The commodity trader Noble Group says proposed agreements to sell four dry bulk carrier vessels fell through after the buyers failed to get approval from their boards, reports Strait Times. The disposal of the freight vessels for gross proceeds of about USD 95 million had been approved by Noble shareholders at a special general meeting on Jan 25. The crisis-wracked company estimates it would have received about USD 30mln in net proceeds if the vessels had been sold. The proposed disposal of the vessels is a part of the Noble’s debt reduction plans. According to a statement from the company, the vessels are still available for sale and the company has started discussions with interested third parties.

Crisis-wracked commodity trader Noble Group said on Friday said proposed agreements to sell four dry bulk carrier vessels have fallen through after the buyers failed to get approval from their boards for the deals by Thursday. Noble estimated it would have received net proceeds of about $30 million if the vessels had been sold, after repayment of mortgages associated with the ships and other costs. "Noble Group wishes to update that the vessels are, in the current market, profit generating and cash flow positive," it said in a statement. The vessels were still available for sale and the company has started discussions with interested third parties, it added. The proposed disposal of the vessels is a part of the company's debt reduction plans.

Hong Kong-based struggling commodity trader Noble Group will sell four dry bulk carrier vessels for about $95 million, as it looks to cut debt to keep its business running, reports Reuters. According to company statement, net proceeds from the disposal, following repayment of bank loans associated with the ships and other costs, will amount to about $30 million. Noble said the sale of the vessels was expected to close next year between March 10 and May 31 and would not significantly impact the operations of the freight business. Once Asia’s largest commodity trader, Noble Group’s decline since 2015 has been marked by losses, concern it won’t be able to pay its debt, and accusations from Iceberg it inflated the value of some contracts, said a Bloomberg report.

WE Tech Solutions (WE Tech), an energy efficiency solutions provider in the marine industry, has received an order to deliver its direct-drive permanent magnet shaft generator solution to two new 25,600 dwt dual-fueled handysize bulk carriers, with an option for two more. The Switch, a technology specialist of megawatt-class permanent magnet (PM) machines for advanced marine drive trains, will deliver the PM shaft generators to be used in the solutions provided by WE Tech. The vessels are owned by the Finnish ship owner ESL Shipping Ltd.…

Wärtsilä is to team up with an international group of shipping industry companies and organisations in a project to develop a concept for equipping future dry bulk carrier vessels with LNG propulsion. Project Forward is led by Athens-based Arista Shipping. It began officially in May 2015 with the aim of developing a commercially feasible LNG powered dry bulk carrier design capable of complying with the International Maritime Organization's (IMO) Energy Efficiency Design Index 2025 standards, as well as with all relevant emission reduction regulations. In addition to Arista Shipping, the other parties involved in the project are Finnish ship designer Deltamarin…

U.K.-based Marine Software Ltd. have delivered Marine Planned Maintenance, Marine Storekeeper and Marine Purchasing software packages to Ship Managers Euroship Services for their new build handysize Bulk Carrier vessels, Lowlands Saguenay and Lowlands Boreas (35,000 DWT). Constructed at the Zhejiang East Coast Shipbuilding yard, these Cobelfret owned vessels will also be equipped with Marine Software's integrated barcode package to assist with on-board spare parts management.

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and provider of transportation services for dry bulk cargoes, announced the cancellation of four shipbuilding contracts for the construction of four bulk carrier vessels of 180,000 dwt each. The company had entered into the aforementioned contracts in December 2006 with Korea Shipyard Co. Ltd. Excel cancelled the contracts on the basis of delay by the shipyard, without any penalties. The cancellation has no impact on the company’s financial position and will not affect its financial statements.

Nautical Bulk Holdings Limited, a newly formed Bermuda-based dry bulk shipping company, has raised in excess of $100 million of equity capital to fund the construction of eight ultramax, eco-friendly vessels under construction by Jiangsu Hantong Ship Heavy Industry, a leading Chinese shipyard. WL Ross & Co. / Fearnley Advisors AS, Solus Alternative Asset Management LP and the CONTI Group are providing the equity capital to launch the company. Nautical has entered into shipbuilding contracts for the construction of eight 64,000 DWT bulk carrier vessels, and has secured multiple fixed options for additional newbuildings. The first 8 ships will be delivered in 2015, with the first delivery date scheduled for January.

Scorpio Bulkers Inc. announced it has agreed to time charter-in five dry bulk vessels. The chartered vessels will be the first to operate in the Scorpio Bulker fleet, while the company awaits 74 newbuild and purchased dry bulk vessels (28 Ultramax, 23 Kamsarmax and 23 Capesize) scheduled for delivery starting in the second quarter of 2014. A 2009-built Panamax for five to seven months at Company's option at $15,900 per day. The vessel was delivered on January 23, 2014. A 2010-built Post-Panamax for eight to ten months at Company's option at $13,250 per day. The vessel is expected to be delivered by the end of February 2014. A 2012-built Kamsarmax for twelve to fourteen months at Company's option at $15,000 per day. The vessel is expected to be delivered by the end of February 2014.

The Ecochlor Ballast Water Treatment System (BWTS) has been selected for installation on board Liberty Maritime Corporation’s fleet of nine U.S. and foreign flagged ro/ro and bulk carrier vessels. According to Ecochlor, Liberty’s quality management programs recognize the need for eco-friendly solutions in the global marketplace and they continually strive to meet and exceed all environmental standards set forth by the IMO, the U.S. government and all local jurisdictions in which they operate.