Jiangsu Yangzijiang Shipbuilding Co News

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, announced that is has taken delivery of the sixth and final Ultramax drybulk vessel it agreed to acquire in July.The ship, which has been renamed the M/V Hong Kong Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd., said the owner-operator within the Supramax / Ultramax segment.Gary Vogel, Eagle Bulk’s CEO, commented, “We are pleased to have successfully completed our latest round of vessel acquisitions. With a current fleet of 50 Supramax / Ultramax ships…

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, has taken delivery of the fifth of six Ultramax drybulk vessels it has recently agreed to acquire.The ship, which has been renamed the M/V Shanghai Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd, said the owner-operator within the Supramax / Ultramax segment.The acquisition was made by the EBS’ wholly-owned subsidiary, Eagle Bulk Shipco LLC , and was fully funded by restricted cash generated from previous vessel sale proceeds; the M/V Shanghai Eagle will form part of the security for the Subsidiary’s outstanding bond due in 2022.Proforma for the remaining acquisition vessel…

Euroseas Ltd, a Greece-based shipping company, took delivery of its newbuilding Kamsarmax dry bulk carrier Xenia and entered into a two-year time charter for its container carrier Evridiki G. The M/V Xenia was delivered from the China-based Jiangsu Yangzijiang Shipbuilding Co. on February 26. Xenia is an “eco” design Kamsarmax fuel efficient bulker with a carrying capacity of 82,000 dwt. Xenia is an "eco" design Kamsarmax fuel efficient drybulk carrier with a carrying capacity of 82,000 dwt. The M/V Xenia has commenced a time charter contract until January 2020 at a gross daily rate of $14,100 with a charterer's option to extend the charter for one additional year at a gross daily rate of $14,350.

Euroseas signs new building agreements for the acquisition of two fuel efficient kamsarmax drybulk carriers and announces new acquisition for its joint venture Euromar. Euroseas Ltd., a Greek owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it has signed a contract for the acquisition of two Eco design kamsarmax fuel efficient drybulk carriers. The vessels will have a carrying capacity of 82,000 dwt each and will be built at Jiangsu Yangzijiang Shipbuilding Co. The two newbuildings are scheduled to be delivered in the fourth quarter of 2015 and in the fourth quarter of 2016. The total consideration for these two newbuilding contracts is a bit below $60 million.

Scorpio Bulkers Inc. Shanghai Waigaoqiao Shipbuilding Co. Shanghai Waigaoqiao Shipbuilding Co. Jiangsu Yangzijiang Shipbuilding Co. Jiangsu Yangzijiang Shipbuilding Co. Jiangsu Yangzijiang Shipbuilding Co. Jiangsu Yangzijiang Shipbuilding Co. Mitsui Engineering & Shipbuilding Co. Mitsui Engineering & Shipbuilding Co. The total purchase price for the vessels is approximately $242 million. Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc.

Seaspan Corporation (NYSE:SSW) accepted delivery of a 4250 TEU containership named the CSAV Lebu from Jiangsu Yangzijiang Shipbuilding Co., Ltd. (YZJ) on June 4, 2010. This is Seaspan's tenth delivery in 2010, expanding the Company's operating fleet to 52 vessels. Compañia Sud Americana de Vapores (CSAV) of Chile accepted delivery of the CSAV Lebu on June 7, 2010. The vessel is on charter to CSAV under a six-year, fixed-rate time charter. It is the last of four 4250 TEU sister ships to be chartered by Seaspan to CSAV, and is the last of fourteen vessels delivered from YZJ to Seaspan.

Seaspan Corporation (NYSE:SSW) announced that it accepted delivery of the Calicanto Bridge from Jiangsu Yangzijiang Shipbuilding Co., Ltd. (YZJ) on May 28, 2010. The 2500 TEU containership is Seaspan's eighth delivery in 2010, expanding the company's operating fleet to 50 vessels. Kawasaki Kisen Kaisha Ltd. (K-Line) of Japan accepted delivery of the Calicanto Bridge on May 30, 2010. The vessel is on charter to K-Line under a ten-year, fixed-rate time charter. It is the last of two 2500 TEU sister ships and the second of a total of seven vessels to be chartered by Seaspan to K-Line. Furthermore, this ship is the last of ten 2500 TEU vessels delivered from YZJ to Seaspan.

Seaspan Corporation (NYSE:SSW) announced the delivery of its 44th and 45th vessels, the Guayaquil Bridge and the COSCO Japan. The Guayaquil Bridge, a 2500 TEU vessel delivered on March 5, 2010, was built by Jiangsu Yangzijiang Shipbuilding Co., Ltd. It is on charter to Kawasaki Kisen Kaisha Ltd. (K-Line) of Japan under a ten-year, fixed-rate time charter. The Guayaquil Bridge is the first of seven Seaspan vessels to be chartered to K-Line. The 8500 TEU COSCO Japan, which was constructed by Hyundai Heavy Industries Co., Ltd., was also delivered on March 5, 2010. The COSCO Japan is on charter to COSCO Container Lines Co., Ltd. (COSCON) of China under a twelve-year, fixed-rate time charter. It is the third of eighteen vessels to be chartered by Seaspan to COSCON.

Seaspan Corporation (NYSE:SSW) has accepted delivery of the CSCL Callao, a 2500 TEU newbuilding. The new containership, which was constructed by Jiangsu Yangzijiang Shipbuilding Co., Ltd., expands Seaspan's current operating fleet to 36 vessels with 32 remaining newbuildings to be delivered over approximately the next three years. The CSCL Callao was delivered on April 8, 2009. The CSCL Callao is subject to a time charter with China Shipping Container Lines (Asia) Co., Ltd. for a twelve-year period at a fixed rate. CSCL Asia is a subsidiary of China Shipping Container Lines Co., Ltd., the world's eighth largest liner company in terms of shipping capacity. Under the terms of the fixed-rate time charter, CSCL Asia is responsible for fuel costs and all cargo operating and related expenses.

Seaspan Corporation announced that it has signed contracts to build four 4250 TEU vessels at Jiangsu New Yangzi Shipbuilding Co., Ltd. in China. These new orders are in addition to the ten 2500 TEU vessels Seaspan previously ordered from Jiangsu Yangzijiang Shipbuilding Co., Ltd., a shipyard affiliated with Jiangsu. The four newbuilding vessels are scheduled to be delivered between March and September, 2009. The total delivered cost is expected to be approximately $66.1m per vessel, subject to certain pre-delivery expenses remaining at budgeted levels. Seaspan also announced that it has arranged simultaneous six-year charter agreements for these four vessels with Compania SudAmerica de Vapores SA (CSAV) of Chile at a rate of $25,925 per day.

Hong Kong-based container ship company Seaspan Corp. has signed contracts for two 2500 TEU vessels from Jiangsu Yangzijiang Shipbuilding Co. at an expected delivered cost of $46.4 million per vessel. Seaspan said the two new orders, scheduled for delivery in March and June, are on top of the eight 2500 TEU vessels it ordered last year from Jiangsu. The company said it has arranged simultaneous 10-year charter agreements for the two vessels with Japan's Kawasaki Kisen Kaisha Ltd. at a daily rate of $17,880. Seaspan said it expects each new vessel to contribute between $4.5 million and $4.9 million in annual earnings before interest, taxes and other payments. Source: AP