Kamsarmax News

Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange.Petros Pappas…

Finland-headquartered maritime tech company Groke Technologies (Groke) is working with BAR Technolgoes (BARTech) design and develop of situational awareness systems for the U.K. marine engineering consultancy’s WindWings wind propulsion technology.The companies have signed a partnership agreement following the debut installation of two 37.5 m (123 ft) tall WindWings sails on board MC Shipping-owned and Cargill-operated Kamsarmax bulker Pyxis Ocean. Groke’s camera and imaging solutions were also installed.Groke Technologies’ CEO Juha Rokka said…

Greek shipowner Diana Shipping on Wednesday announced it has placed an order for two new methanol dual-fuel Kamsarmax bulk carriers from China's Tsuneishi Group (Zhoushan) Shipbuilding Inc.The 81,200 dwt newbuilds were ordered at a purchase price of $46 million each, Diana said. The vessels are expected to be delivered by the second half of 2027 and the first half of 2028, respectively.Diana in September 2023 announced it signed a letter of intent (LOI) to order the ships through…

Dry bulk shipowner Safe Bulkers announced Monday it has has reached a deal to sell the oldest vessel in its fleet to an undisclosed buyer.The ship is the Maritsa, a 76,000 dwt Panamax bulk carrier built in Japan in 2005. The vessel was sold at a gross sale price of $12.2 million and a forward delivery date from April 2024 to May 2024, New York-listed Safe Bulkers said.Dr. Loukas Barmparis, president of Safe Bulkers, said, “We continue our strategy to selectively sell older vessels…

Diana Shipping on Tuesday announced it has reached a deal to sell its oldest vessel, an 18-year-old panamax bulk carrier.The Greek shipowner said it has reached a memorandum of agreement through one of its subsidiaries to sell the 76,942 dwt vessel Artemis to an undisclosed third-party buyer for $12.99 million. The ship is slated to be delivered to its new owner by March 8 at the latest.Artemis was built in 2006 by Japan's Namura Shipbuilding Co., Ltd. in 2006.Upon completion of the sale…

Classification society DNV has entered into a joint development project (JDP) with Singapore-based shipping company SDTR Marine to cooperate on a carbon capture and storage (CCS) feasibility study for the latter’s 85,000 dwt Kamsarmax bulk carrier.As part of the JDP, DNV and SDTR Marine will collaborate on a techno-economic analysis of CCS implementation aboard the bulk carriers. Utilizing DNV's FuelPath, the study aims to evaluate the economic viability of different fuel and technology approaches under various fuel and CO2 price scenarios.

Diana Shipping, a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Cobelfret S.A., Luxembourg, for one of its Post-Panamax dry bulk vessels, the Amphitrite.The gross charter rate is $12,250 per day for the first 30 days of the charter period and $15,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties…

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Kawasaki Kisen Kaisha (K Line) for one of its Capesize dry bulk vessels, the New Orleans.The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period until minimum August 15, 2025 up to maximum October 31, 2025. The charter is expected to commence on December 7, 2023.The New Orleans is a 180,960dwt Capesize…

Brazilian mining firm Vale will install five Rotor Sails from Anemoi Marine Technologies Ltd (“Anemoi”), a supplier of wind-assisted propulsion technology for commercial vessels, onboard a 400,000 dwt Valemax, the world’s largest ore carrier. The vessel is owned by Omani shipowner, Asyad.Five 35-meter-tall, 5-meter-diameter cylindrical sails will be installed on the Sohar Max VLOC. The Rotor Sails will be installed on Anemoi’s folding deployment system, whereby the sails can be folded from vertical to mitigate impact on air draft and cargo handling operations.

Classification society DNV has entered into a Joint Development Project (JDP) with AL Group and its Singapore company Asiatic Lloyd Maritime LLP to explore the feasibility of carbon capture and storage (CCS) on board AL’s 7,100TEU containership and Kamsarmax bulk carrier newbuildings.Under the JDP, DNV will cooperate with AL on a techno-economic study of CCS on board the vessels using DNV's FuelPath to assess the economic potential of the different fuel and technology strategies.

Dry bulk shipowner Diana Shipping announced it has signed a letter of intent (LOI) to order through Marubeni Corporation or its guaranteed nominee, an unaffiliated third party, two 81,200 dwt methanol dual fuel new-building Kamsarmax dry bulk vessels, for a purchase price of $46 million each, built at Tsuneishi Group (Zhoushan) Shipbuilding Inc., China.The vessels are expected to be delivered by the second half of 2027 and the first half of 2028 respectively. The transaction remains…

The installation of rotor sails on board a 82,000 dwt Kamsarmax bulk carrier is expected to generate a 10% reduction in fuel burn and emissions.The TR Lady was retrofitted with three 5×24m rotor sails from Anemoi Marine Technologies at China's Chengxi Shipyard in June 2023. The ship is owned by TR Lady Shipping, a portfolio company of Tufton Investment Management, and is on a time charter with Cargill.The technology was installed on Anemoi’s patented transverse rail deployment system…

Greek shipping company United Maritime Corporation announced it has entered into an agreement with an unaffiliated third party for the sale of its remaining LR2 tanker vessel, the 2008-built Epanastasea. The vessel is scheduled to be delivered to its new owner by mid-August 2023. The vessel’s gross sale price is $37.5 million, and the transaction is subject to customary closing procedures.In addition, the company said it has entered into an agreement to acquire a Panamax dry bulk vessel built in 2011 in Japan, with a cargo carrying capacity of 76,361 dwt and will be renamed Exelixsea.

Danish investment company J. Lauritzen announced it has ordered a third methanol dual-fuel bulk carrier from Japan's Tsuneishi Shipbuilding in an expansion of its partnership with U.S. agribusiness giant Cargill.The vessel will be a sister ship to the two 81,200 dwt Kamsarmax bulkers ordered by J. Lauritzen in April.The ships will be fully owned by Lauritzen NexGen Shipping and be operated by Cargill for a minimum period of seven years.Each will be capable of trading with zero…

BAR Technologies (BARTech) announced it has been awarded a full type approval design certificate (TADC) for its wind propulsion technology from classification society DNV.Since being awarded an approval in principle (AIP) for its WindWings wind propulsion solution in 2021, inventor and designer BARTech, and industrialization partner Yara Marine Technologies (YMT), have focused on progressing the WindWings design through to the next level of DNV certification. This has involved validating WindWings design compliance with full detail on construction…

Shipping company Castor Maritime announced it has completed its sale of a a 2007-built Panamax bulk carrier for $12.6 million. The company had revealed in March that it sold the 73,593 dwt Magic Rainbow to an undisclosed buyer.Nasdaq-listed Castor said it expects to record an approximately $4.4 million net gain on the sale, excluding transaction related costs.Castor owns a fleet of 20 vessels, with an aggregate capacity of 1.7 million dwt, currently consisting of one Capesize, seven Kamsarmax, 10 Panamax dry bulk vessels and two 2,700 TEU containerships.

Dry bulk shipping company Safe Bulkers announced it has reached a deal to sell one of its Panamax bulk carriers for $22.5 million.The 75,000 dwt Efrossini, built in Japan in 2012, will be delivered to an undisclosed new owner in June 2023 and chartered back at a gross daily charter rate of $16,050 for a period of 10 to 14 months.Dr. Loukas Barmparis, president of Safe Bulkers, said, “Having ordered recently an additional IMO Phase 3 newbuild Kamsarmax vessel and sold a 2012 Panamax vessel, we continue our strategy to selectively sell relatively older tonnage and gradually replace it with newbuilds of latest available designs, aiming to improve our fleets’ environmental performance and increase our competitiveness in a new more stringent regulatory environment.’’

Shipping company Castor Maritime announced it has sold the 2007-built Panamax bulk carrier Magic Rainbow to an undisclosed buyer for $12.6 million.The 73,593 dwt vessel is expected to be delivered to its new owner during the second quarter of 2023.Nasdaq-listed Castor Maritime said it expects to record an approximately $4.4 million net gain on the sale, excluding transaction related costs.The deal remains subject to the execution of customary definitive documentation, the company added.Castor owns a fleet of 22 vessels, with an aggregate capacity of 1.7 million dwt, consisting of one Capesize, seven Kamsarmax and 12 Panamax dry bulk vessels, as well as 2 2,700 TEU containership.

The CSL Group and Algoma Central Corporation Order a New Generation of Kamsarmax-Based Ocean Belt Self-Unloading ShipsThe CSL Group and Algoma Central Corporation, who together form the CSL International Pool, on Friday announced a newbuild order with Jiangsu Yangzi-Mitsui Shipbuilding Co., Ltd., to construct four new methanol-ready Kamsarmax-based ocean belt self-unloading vessels. These new ships will replace the pool’s oldest vessels and become the model for its next generation of ocean self-unloaders.Two of the four jointly designed…

Dry bulk shipping company Diana Shipping announced it it has entered into a time charter contract with Cargill for one of its Kamsarmax vessels.Under the deal, the 2011-built, 82,165 dwt Leonidas P. C. will be chartered for $17,000 per day, for a period of 11 months to 13 months.Diana said it expects the employment to generate approximately $5.61 million of gross revenue for the minimum scheduled period.

Danish shipping company J. Lauritzen said it signed letter of intent for construction of minimum two methanol dual-fuel 81,200 dwt Kamsarmax bulk carriers, which will be built by Tsuneishi Shipbuilding, Japan, and be capable of trading with zero carbon emissions when powered by green methanol, and biodiesel.The vessels will be among the very first zero emission capable bulk carriers in the world, and they will be fully owned by a newly established entity named “Lauritzen NexGen Shipping” which J.

Dry bulk shipowner Golden Ocean Group on Monday announced it has entered into an agreement to acquire six 208,000 deadweight tons (dwt) Newcastlemax vessels for a total consideration of $291 million. The newly-acquired vessels—each equipped with exhaust gas cleaning systems, or scrubbers—will be chartered back to their former owner, an unrelated third party, for approximately 36 months at an average daily time charter equivalent rate of approximately $21,000 net.Following the acquisition, Golden Ocean will be the world's largest publicly-listed dry bulk company in terms of dwt."This acquisition cements our position as the largest owner of modern Capesize vessels.

Dry bulk shipping company Safe Bulkers announced it has reached a deal to acquire a 81,800 dwt, dry-bulk, Kamsarmax class vessel at an attractive price with a scheduled to be delivered from a Japanese shipyard in the second quarter of 2025.This vessel, a sister to a number of newbuilds in Safe Bulkers' orderbook, features advanced energy efficiency characteristics and lower fuel consumption, the company said. It is designed to meet the Phase 3 requirements of Energy Efficiency…