Panamax Bulk Carrier News

17 Mar 2019

Castor Maritime Fixes Magic P with Oldendorff

Pic: Castor Group

The international shipping company specializing in the ownership of dry-bulk vessels Castor Maritime announced that, through a wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GMBH & Co KG Luebeck for its Panamax vessel Magic P.The owners of a dry bulk vessels said in a press release that the gross charter rate is US$ 11,250 per day, for a period of a minimum of five months up to a maximum of about eight months (for the first 30 days period the daily gross rate is US$ 9,000).

07 Sep 2018

Mitsui E&S Shipbuilding Bags Order for Three Post Panamax Bulkers

Image: Mitsui E&S Shipbuilding

Japanese shipbuilder Mitsui E&S Shipbuilding has developed "neo 87BC", an 87,000 DWT Post Panamax bulk carrier of next generation eco ship, and has received an order of 3 units.Mitsui E&S Shipbuilding has developed "neo series" vessels which is a line-up of next generation eco-friendly ships until today. "neo 87BC" is the first "neo series" vessel which complies with IACS Harmonized Common Structural Rules (H-CSR).The main engine is the latest electronic control type which complies…

23 Mar 2018

Coal Carrier Enters Service for Okinawa Electric Power

The second-generation Shinryo Maru Photo NYK Group

A new coal carrier, Shinryo Maru, was delivered at Oshima Shipbuilding Co. Ltd. on March 9. The new coal carrier is the second ship to take the name Shinryo Maru. The first-generation vessel was delivered in 2003 and began transporting coal for OEPC 15 years ago. The new ship, which replaces the previous one, has been registered in Okinawa prefecture, Japan, the same as the first-generation vessel, and will transport coal mainly from Australia and Indonesia to generate electricity for OEPC.

21 Dec 2017

Asia Dry Bulk-Capesize Rates to Fall as Cargo Dries Up

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

Rates from Brazil to China fall by $4/tonne, $6,000/day; queues at Dalrymple Bay to ease, return to normal in January. Freight rates for large dry cargo ships on key Asian routes could slide further from multi-week lows as chartering activity thins during the holiday season and abundant tonnage for January weighs on rates, brokers said. Capesize rates from Brazil to China have dropped by $4 per tonne in the last week, equivalent to a daily earnings fall of about $6,000. Port congestion…

26 Jul 2017

Diana Shipping's Vessel Melite Grounds off Indonesia

M/V Melite. Photo:  Diana Shipping Inc

Greek dry bulk owner Diana Shipping's Panamax bulk carrier, Melite, has been temporarily disrupted due to a grounding incident at Pulau Laut, Indonesia. "The employment of one of its Panamax bulk carriers, the m/v Melite, has been temporarily disrupted due to a grounding incident at Pulau Laut, Indonesia," said a statement from the company. Although the Company is still assessing the situation, the crew is in no danger as a result of this incident and there has been no pollution. It appears that the vessel has suffered damage to her hull resulting from the grounding.

29 May 2017

Essar Acquires Panamax Vessel

Pic: Essar Shipping Limited (ESL)

The Ruia brothers-led Essar Shipping Limited (ESL) of India has added a Panamax vessel of 74,005 Deadweight Tonnage (DWT) to its fleet of vessels. With this new induction, Essar Shipping now has a fleet of 14 vessels that include VLCCs, Capesizes, Mini-capes, Panamax, Supramaxes and Handysize bulk carriers. Essar Shipping’s total DWT capacity now stands at 1.6 million and its average fleet age has fallen to 12 years from erstwhile 13.5 years, according to a company statement here on Tuesday.

25 Apr 2017

New Coal Carrier Enters Service for JERA Singapore

Isuzu Maru (Photo: NYK Line)

On April 14, newly constructed coal carrier Isuzu Maru was delivered at Oshima Shipbuilding Co. Ltd. in Saikai, Japan. The new vessel will be operated by NYK Bulkship (Asia) Pte. Ltd., an NYK group company located in Singapore, for the transport of coal for JERA Trading Singapore Pte. Ltd., a coal trading corporation owned by JERA Co., Inc. (67 percent) and EDF Trading Limited (33 percent). JERA Co., Inc. The delivery and naming ceremony held at the shipyard was attended by Tomohiko Ono…

23 Nov 2016

DryShips Delivers M/V Sorrento

Photo: DryShips Inc.

DryShips Inc., an international owner of drybulk carriers and offshore support vessels,  has announced that on November 22, 2016, it has successfully delivered the 2004 built Panamax bulk carrier M/V Sorrento to an unaffiliated third party buyer for a gross price of $6.7 million. Following this delivery the Company has now completed all of the five vessel sales previously announced on October 31, 2016. The Company is an owner of drybulk carriers and offshore support vessels that operate worldwide.

10 Nov 2016

Shipping Recovery Faces Supply/Demand Challenges

Photo: Maersk Line

The shipping industry faces a stormy road to recovery, with uneven supply/demand trends set to test the nerve of investors and operators, according to independent research and consultancy firm Maritime Strategies International (MSI). Addressing the Hansa Forum in Hamburg, Germany this week, MSI Senior Analyst James Frew warned that the industry will continue to face multiple challenges to a sustained recovery despite positive demand fundamentals. “The commodity shipping sectors…

07 Oct 2016

New Japanese Coal Carrier Enters Service

Noshiro Maru. Photo: NYK Line

A new coal carrier Noshiro Maru was delivered on September 30 at Oshima Shipbuilding Co. Ltd. in Saikai city, Nagasaki prefecture. A delivery and naming ceremony was held at the shipyard on the same day and attended by Makoto Kaiwa, chairman of Tohoku Electric Power; his wife; and NYK Chairman Yasumi Kudo. The new ship is the third to take the name Noshiro Maru, the first of which began transporting coal for Tohoku Electric Power Co. Inc. 23 years ago. The vessel is named after Noshiro terminal in Akita prefecture…

23 May 2016

Phaethon Takes Diana Panamax on Timecharter

Pic: Diana Shipping

Phaethon International has chartered a panamax bulk carrier Which is owned by the Greek shipping Diana Shipping on for up to eight months with a daily rate of US $ 5,250, according to the Baltic Exchange data. Coronis (74,381 dwt, built 2006) will deliver to the charterer in Donguan in southern China between May 25-30 and may be redelivered up to a maximum of February 18, 2017. The daily rate is a 24% discount on what Coronis was earning during its previous employment with Sandgate Maritime.

21 Jan 2016

Coal Carrier Shin Sekiyo Delivered

Shin Sekiyo Photo Chugoku Electric Power Co

On January 15, a new coal carrier, Shin Sekiyo, was delivered at Oshima Shipbuilding Co. Ltd. (Saikai city, Nagasaki prefecture). A delivery and naming ceremony was held at the shipyard on the same day and attended by NYK chairman Yasumi Kudo and representatives from Chugoku Electric Power Co. Inc. Shin Sekiyo is the successor to the first Sekiyo operated by NYK. After delivery, the ship will be assigned to transport coal mainly from Australia and Indonesia to power plants operated by Chugoku Electric Power.

01 Oct 2015

Ship Operating Costs Down in 2014 -Moore Stephens

Photo: Andrew Aiello

Total annual operating costs in the shipping industry fell by an average of 0.8 percent in 2014, said international accountant and shipping consultant Moore Stephens. This compares with the 0.3 percent average fall in costs recorded for 2013. All categories of expenditure were down on those for the previous 12-month period, confirming that ship owners and operators continued to manage costs sensibly and to watch their cash carefully in 2014. The findings are set out in OpCost 2015…

29 Sep 2015

NYK Acquires Coal Carrier

Tenryu Maru

On September 25, a new 100,000 deadweight tonnage coal carrier ordered by NYK Bulkship (Asia) Pte. Ltd., an NYK Group subsidiary company based in Singapore, was delivered at Oshima Shipbuilding Co. Ltd. (Saikai city, Nagasaki prefecture). A delivery and naming ceremony was held at the shipyard on the same day and attended by NYK senior managing corporate officer Masahiro Samitsu and representatives from Chubu Electric Power Co. Inc. Tenryu Maru is the first coal carrier to be jointly owned by a power company and a shipping company.

29 Oct 2014

ClassNK Certifies Ship with Air Lubrication System

Photo: MHI

ClassNK has completed the EEDI appraisal of Harvest Frost, the world’s first post-panamax bulk carrier fitted with the Mitsubishi Air Lubrication System (MALS). The Harvest Frost was constructed by Oshima Shipbuilding Co., Ltd. for ADM Harvest Shipping in accordance to ClassNK rules and guidance. Developed by Mitsubishi Heavy Industries with support of ClassNK’s Joint R&D for Industry Program, MALS uses specialized blowers to create a layer of bubbles that flow along the bottom of a hull to improve fuel efficiency by reducing frictional resistance.

25 Apr 2014

Dry Bulk Carrier Newbuilding Orders Surge

Bulk carrier: File photo

Dry bulk carrier newbuilding orders predominate among the contracts reported in the latest issue of the Clarkson Hellas S&P Weekly Bulletin. One order is reported by Clarkson Hellas in the larger dry sizes this week, with Foremost Maritime contracting two firm 180,000 DWT Capesize at Beihai Shipyard. Delivery of the first vessel is due in the later part of 2015, with the second due in the final quarter of 2016. In Japan, First Steamship are reported to have contracted a single 85,000 DWT post-panamax bulk carrier at Sasebo Heavy, due to deliver in 2016.

07 Mar 2014

Star Bulk Takes Delivery of Star Sirius

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that it has taken delivery of M/V Star Sirius a Post - Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity. The Star Sirius is the second of the two modern Post-Panamax bulk carriers to be delivered to the company, pursuant to the relevant binding agreements announced on January 29, 2014. The vessel has commenced a time charter with the sellers of the vessel, Glocal Maritime Ltd., for a period between 28-32 months, at a gross daily hire rate of $15,000 less a 1.25% address commission on gross revenues. The vessel is expected to generate approximately $12.4 million in charter revenues over the minimum contracted period.

14 Feb 2014

Star Bulk Receives Post-Panamax Bulk Carrier

Photo: Star Bulk

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has taken delivery of M/V Star Vega, a Post-Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity. The vessel has commenced a time charter with the sellers of the vessel for a period between 30 months to 34 months, at a gross daily hire rate of $15,000 minus a 1.25% address commission on gross revenues. The vessel is expected to generate approximately $13.4 million in charter revenue over the minimum contracted period.

19 Jun 2013

LR Issues Guide to Shipbuilding in South Asia

As shipbuilding nations in South Asia mature, Lloyd's Register's new guide provides an overview of over 80 shipyards and 18 ship designers in Bangladesh, India, Indonesia, Malaysia, the Philippines, Singapore, Sri Lanka, Thailand and Vietnam. Lloyd’s Register has issued the first Guide to New Construction in South Asia. The Guide provides an overview of the shipbuilding and ship design industry in the area. With shipbuilding in South Asia growing – in numbers of ships, in capacity and in capability, this Lloyd’s Register guide provides factual information from across the countries. The future is looking extremely bright for shipping and shipbuilding in the South Asia area.

07 Jun 2013

Solar Solve Wins Orders from Two Japanese Shipbuilders

Photo: Solar Solve

At the beginning of June South Shields based Solar Solve Marine dispatched a consignment of 16 SOLASAFE anti-glare roller sunshades to their distributor based in Osaka for installation at the wheelhouse windows of two new bulk carriers being built in Japan. Oshima Shipbuilding Co. are finishing off a Handymax Bulker, Hull No. 10705, at their Nagasaki yard for delivery next month. Currently both the name of the 55,116 dwt vessel and the owner have not been made public but the vessel will be delivered with 13 roller sunscreens from the SOLASOLV range installed at the navigation bridge windows.

07 Jan 2013

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.

07 Jan 2013

Vroon Take Delivery of China-built Bulk Carrier

Sister ship 'Scotian Express;

Vroon takes delivery of 'MV Sicilian Express', the last in a series of four bulkers built at COSCO Dalian Shipyard, China. MV Sicilian Express is a 92,500-dwt post-panamax bulk carrier, and her Chinese crew sails under the Gibraltar flag. Responsibility for management of the vessel has been awarded to Fleet Management Ltd. of Hong Kong. Vroon BV, located in Breskens, The Netherlands, operates and manages a diverse fleet of approximately 160 vessels.

21 Mar 2012

Chinese Shipyards Deliver Bulk Carriers

COSCO Corporation announce delivery of Capesize, Panamax bulk ships from Dalian & Zhoushan shipyards COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd has delivered a  Capesize bulk carrier of 92,500 dwt, Ocean Emerald, to its Asian buyer. The delivery documents have been signed by COSCO Dalian and the buyer . The bulk carrier measures 229.165 meters in LOA, 37.996 meters in breadth and 20.702 meters in depth. Separately, COSCO (Zhoushan) Shipyard Co., Ltd ("COSCO Zhoushan"), another subsidiary, also 51% owned by COSCO, has delivered a Panamax bulk carrier of 57,000 dwt, Port Canton to its European buyer. This bulk carrier measures 189.99 meters in LOA , 32.26 meters in breadth.

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