Marine Link
Saturday, January 20, 2018

Drybulk Vessels News

DryShips Adds Fourth VLGC

File Photo: DryShips Inc

DryShips, a diversified owner of ocean going cargo vessels, announced today that it has taken delivery of its fourth high specification very large gas carrier (VLGC) newbuilding. The VLGC will be employed under a fixed rate time charter with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. DryShips has now taken delivery of all of the 17 vessels it has  acquired since the beginning of 2017.

Capital Product Partners Buys Aframax

Photo: Capital Product Partners L.P.

Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading. The M/T ‘Aristaios' is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro') at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days.

Paragon Shipping Contracts for Drybulk Vessels

Paragon Shipping Inc. (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes, announced that it has entered into shipbuilding contracts with a Chinese shipyard for the construction of two Handysize drybulk vessels, each approximately 37,200 deadweight tons, or dwt, and two Kamsarmax drybulk vessels, each approximately 82,000 dwt, for an aggregate purchase price of approximately $111.5m. The company expects to take delivery of the Handysize drybulk vessels in the fourth quarter of 2011 and the Kamsarmax drybulk vessels in the second and third quarters of 2012. Following the delivery of these four vessels, the Company's fleet will expand to 16 vessels with an aggregate carrying capacity of approximately 1,000,000 dwt.

DryShips Enters into Newcastlemax Contract

Pic: DryShips

DryShips Inc has entered into a one year time charter with a major grain house for one of its 206,000 dwt Newcastlemax drybulk vessels for an expected duration of about one year. The Company anticipates a total gross backlog of $7.1 million, and the contract to commence upon the delivery of the vessel, expected before the end of April 2017. Mr. DryShips is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of 13 Panamax drybulk vessels…

Dryships Time Charter Contract for Newcastlemax Vessels

Image: DryShips Inc

DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has entered into a time charter with a major coal and steel trader for its fourth and last of its 206,000 dwt Newcastlemax drybulk vessels. The contract has a duration of about one year, with a gross rate linked to the Baltic Capesize Index (5 T/C route) plus 20% and will commence upon the delivery of the vessel, expected in July 2017. DryShips owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels…

DryShips Adds Fifth Kamsarmax Drybulk Carrier

File Photo: DryShips Inc

DryShips announced that it has taken delivery of the previously announced 81,300 deadweight tons newbuilding re-sale Kamsarmax drybulk carrier. The vessel will be employed in the spot market. Since the beginning of this year, DryShips has taken delivery of ten vessels and expects to take delivery of seven more by the end of the year. The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk vessels…

Dryships Adds Second Aframax Tanker

Image: DryShips Inc

DryShips Inc, a diversified owner of ocean going cargo vessels, announced that it has taken delivery of the previously announced 115,666 deadweight tons Aframax tanker built in 2012, which will be employed in the spot market. "Since the commencement of our acquisition program, in addition to the above, we have successfully taken delivery of a total of three vessels," the company said in a statement. On May 10, 2017, one Kamsarmax drybulk vessel built in 2014 of 81,918 deadweight tons. On May 2, 2017, one Newcastlemax drybulk vessel built in 2014 of 205,855 deadweight tons.

Star Bulk Orders Three New Drybulk Vessels

Star Bulk Carriers Corp. announced that on September 23, 2013, the company entered into agreements with Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) for the construction of two 208,000 dwt Newcastlemax drybulk vessels each with fuel efficient specifications and expected deliveries during the first half 2016. On September 27, 2013, the company entered into agreements with Nantong COSCO KHI Ship Engineering Co. (NACKS), for the construction of two 61,000 dwt Ultramax drybulk vessels and one 209…

Euroseas Sells Bulker, Adds Boxship

Photo: Euroseas Ltd

Euroseas Ltd., Greek owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that it took delivery of the M/V RT Dagr, a 1,645 teu feeder containership built in 1998. As previously announced, the vessel was purchased by issuing 900,000 shares of the Company's common stock. The Company also announced that it agreed to sell for scrap the M/V Eleni P, a 72,119 dwt 1997-built drybulk carrier.

Top Ships Takes Drybulk Carrier Delivery

Top Ships Inc., which operates a fleet of crude-oil tankers and drybulk vessels, has taken delivery of a a 2000-built Panamax drybulk vessel. The company, formerly known as Top Tankers Inc., said the 75,681-deadweight-ton vessel will immediately enter the spot market, earning about $70,000 per day for its first voyage. Panamaxes are the largest drybulk carriers that can fit through the locks of the Panama Canal. The vessel has been financed with secured bank debt, the company said, and is the second of six drybulk carriers set for delivery. Shares rose 5 cents to $3.64 in midday trading. The stock has ranged between $3.03 and $8.40 in the past year. Source: AP

Euroseas Report Adverse Financial Winds in Year 2013

Image courtesy of Euroseas

Net loss of $103.4 million, or, $2.28 net loss per share basic and diluted on total net revenues of $39.2 million. The full year results include a $78.2 million impairment loss, or, $1.72 loss per share basic and diluted. Adjusted net loss1 for the period would have been $23.1 million or $0.51 net loss per share basic and diluted. Adjusted EBITDA1 was $(1.7) million. An average of 14.56 vessels were owned and operated during the twelve months of 2013 earning an average time charter equivalent rate of $7,945 per day.

Genco Shipping to Acquire Drybulk Vessels

Genco Shipping & Trading Limited announced that the it has agreed to acquire three drybulk vessels from affiliates of Franco Compania Naviera S.A., for an aggregate purchase price of $81.25 million. The acquisition is subject to customary closing conditions and the vessels are expected to be delivered between August and November of 2006. Genco is to finance the acquisition of the three vessels through borrowings on its $550 million revolving credit facility. The three vessels to be acquired are: the Anita, a 1999 Japanese-built Panamax vessel to be renamed the Genco Acheron; the Koby, a 1998 Japanese-built Panamax vessel to be renamed the Genco Surprise; and the Paige, a 1994 Japanese-built Handymax vessel to be renamed the Genco Commander.

Genco Shipping to Acquire Six Drybulk Vessels

Genco Shipping & Trading Limited announced that it has agreed to acquire six drybulk vessels with an average age of approximately 2 years from affiliates of Evalend Shipping Co. S.A. for an aggregate purchase price of approximately $336m. The acquisition is subject to the completion of customary additional documentation and closing conditions. Genco plans to finance the acquisition through borrowings under its $1.4b revolving credit facility. The six vessels, comprised of three Supramax vessels and three Handysize vessels, are expected to be delivered to Genco during the fourth quarter of 2007. Upon completion of the acquisition, and including the nine Capesize vessels to be acquired from companies within the Metrostar Management Corporation group announced on July 18…

Genco to Acquire Three Drybulk Vessels

Limited announced that it has agreed to acquire three 2007-built drybulk vessels from Bocimar International N.V. and Delphis N.V., for an aggregate purchase price of approximately $257.0 million. The acquisition is subject to the completion of customary additional documentation and closing conditions. The three vessels, comprised of two Panamax vessels and one Supramax vessel, are expected to be delivered to Genco during the third and the fourth quarters of 2008. Upon completion of the acquisition, and including the four remaining Capesize vessels to be acquired from companies within the Metrostar Management Corporation group, Genco's fleet will consist of 35 drybulk vessels with a total carrying capacity of approximately 2,910,000 dwt and an average age of approximately 6.6 years.

Dryships Adds New VLGC

Image: DryShips Inc.

DryShips Inc, a diversified owner of ocean going cargo vessels, has announced that it has taken delivery of the previously announced high specifications second newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed under a time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The Company expects a total gross backlog associated with this time charter of up to $92.7 million including the optional periods.

DryShips Commences 5 Year TC for Second VLGC

File Photo: DryShips Inc

DryShips, a diversified owner of ocean going cargo vessels, announced today that, its second Very Large Gas Carrier commenced its time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The Company expects a total gross backlog associated with this time charter of up to USD 92.7 million including the optional periods. Five days ago, DryShips announced that it has taken delivery of the previously announced high specifications second newbuilding VLGC.

DryShips Adds Third VLGC

File Photo: DryShips Inc

DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has taken delivery of the previously announced high specifications third newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed under a time charter on a fixed rate with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. Since the beginning of this year, DryShips has taken delivery of 16 vessels and expects to take delivery of one more at the beginning of next year.

Dry Ships Signs Agreement with DnB NOR

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that it has signed an agreement with DnB NOR on waiver terms for $86m of our outstanding debt. George Economou, Chairman and Chief Executive Officer, said “We are pleased to have signed the agreement with DnB NOR for this facility which covers two of our drybulk vessels. We continue to deliver on the covenant waivers and assess acquisition opportunities to further grow the company”. (www.dryships.com)

DryShips Nets $ 820 Mln 3Q Loss

Photo Dryships

and operating results for the third quarter ended September 30, 2015.  For the third quarter of 2015, the Company reported a net loss of $820.0 million, or $1.23 basic and diluted loss per share. Included in the third quarter 2015 results are impairment charges and loss on sales on the entire drybulk fleet, of $797.5 million, or $1.20 per share. Excluding these impairment charges and losses, the Company’s net results would have amounted to a net loss of $22.5 million, or $0.03 per share.  The Company reported Adjusted EBITDA of $30.1 million for the third quarter of 2015.

Paragon Takes New Vessel Delivery, Finances Two Other Builds

Paragon Shipping Inc. a global shipping transportation company specializing in drybulk cargoes, announced today that it has taken delivery of M/V Proud Seas, a 37,227 dwt Handysize vessel, from Zhejiang Ouhua Shipbuilding Co. in China. In addition, the company announced today that it has entered into an agreement with HSH Nordbank AG, subject to final documentation, to partially finance its first two Ultramax drybulk newbuildings, which are expected to be delivered to the company in the second and third quarters of 2014. For each of the two Ultramax vessels, HSH Nordbank AG has agreed to finance the lower of $17.2 million or 65% of the vessels' market value upon their delivery.

Euroseas Sells Bulker, Adds Feeder

Courtesy Euroseas

Euroseas Ltd. announced today that it took delivery of the M/V RT Dagr, a 1,645 teu feeder containership built in 1998. As previously announced, the vessel was purchased by issuing 900,000 shares of the Company's common stock. The Company also announced that it agreed to sell for scrap the M/V Eleni P, a 72,119 dwt 1997-built drybulk carrier. The M/V Eleni P is the oldest drybulk vessel in the Company's fleet and is expected to be delivered to its buyers in the beginning of January 2017.

Drybulk Shipowners, Safe Bulkers, Declare Dividend

Safe Bulkers logo

Safe Bulkers, Inc. has declared a cash dividend of $0.26111 per share on its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares. The dividend will be paid on July 30, 2013 to all Series B preferred shareholders of record as of July 25, 2013. The Company has 1,600,000 Series B Preferred Shares outstanding as of today. This is the first cash dividend the Company has declared since the commencement of trading of its Series B Preferred Shares on the New York Stock Exchange on June 19, 2013. About Safe Bulkers, Inc.

Bergesen Orders Ore Carrier From Daewoo

Bergesen d.y. Group ASA ordered a 175,000 dwt reinforced ore carrier from Daewoo Heavy Industries Ltd. for $42 million, with an option for an additional ship. Forty percent of the contract price will be paid during building and 60 percent on delivery on the vessel, which is scheduled for October 2001. Bergesen's fleet current includes six drybulk vessels between 173,000 and 365,000 dwt.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News