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Monday, November 20, 2017

Seaborne Transportation News

Boston Carriers Completes Contract of MV Nikiforos

Photo: Boston Carriers Inc

Boston Carriers announces that on October 2017, Nikiforos completed a spot voyage contract to transport approximately 33,000 tons of dry bulk cargo from South America to the Middle East. The contract contributed approximately 1,283,000 USD in the revenues of the Company. Nikiforos has transported approximately 183,000 tons of dry bulk cargo from the beginning of the year and until the date of completion of this voyage and has produced operating revenues of approximately 3,2 million usd compared to approximately 2,1 million usd for the year ended in December 31 2016. Boston Carriers Inc.

Star Bulk-Board of Directors Resignation

Star Bulk is a global shipping company providing seaborne transportation solutions in the dry bulk sector. (www.starbulk.com)

Excel Maritime to Present at Global Transportation Conference in New York

Excel Maritime Carriers Ltd an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced that Christopher Georgakis, the company's President and Chief Executive Officer, will be presenting at the Bear Stearns 2007 Global Transportation Conference to be held at the Bear Stearns World Headquarters in New York City on May 9.

Excel Maritime Announces 1Q Results Release Date

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced that on Tuesday, May 22, 2007, after the close of the market in New York it will release its results for the first quarter ended March 31, 2007. The next day, Wednesday, May 23, 2007 at 10:00 a.m. EDT, the company’s management will host a conference call to discuss the results.

FreeSeas Names Papadopoulos as CFO

FreeSeas Inc. a provider of seaborne transportation for dry bulk cargoes, said that Dimitris D. Papadopoulos has been appointed Chief Financial Officer. Prior to joining FreeSeas, Mr. Papadopoulos served as President of Waterfront Developments, S.A., which organized and prepared the business and development plan related to the international public tender for "the long term lease and right of development of the Athens 2004 -- Olympic Sailing Center," which involved an investment of more than $250m.

Euroseas Ltd. Takes Delivery of its 11th Vessel

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it took delivery of the M/V Clan Gladiator, a Handysize container ship of 30,007 dwt and 1,742 teu built in 1992 in Germany, which it had previously agreed to acquire.. The M/V Clan Gladiator, was acquired for approximately $25.7 million; it is employed under a period charter contract at a rate of $19,000 per day till April 2008.

Excel Enters Charter Agreement for the M/V First Endeavour

Excel Maritime Carriers Ltd. an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has chartered M/V First Endeavour for a period of 23 to 25 months at $45,000 per day to a first class charterer. The vessel will be delivered into charter on or about August 25, 2007. M/V First Endeavour is a Panamax dry bulk carrier of 69,111 dwt, built in 1994 in Japan, which the company acquired and took delivery of in May 2005.

Euroseas to Release Second Quarter 2007 Results

Euroseas Ltd. , an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today it will release its second quarter and six month results for the period ended June 30, 2007, on Thursday, August 23, 2007, before the market open in New York.

FreeSeas Announces Price of Stock Offering

FreeSeas Inc., a provider of seaborne transportation for drybulk cargoes, today announced the pricing of its follow-on offering of 11,000,000 shares of its common stock at a price of $8.25 per share. Credit Suisse and Cantor Fitzgerald & Co. are the joint book running managers and Oppenheimer & Co., and DVB Capital Markets are co-managers. FreeSeas has granted the underwriters an option to purchase an additional 1,650,000 shares of FreeSeas common stock at the public offering price to cover any over-allotments, exercisable within 30 days.

Globus Maritime Buys Cargo Ship

According to Thomson Financial, Globus Maritime Ltd has agreed to buy a dry bulk cargo ship, currently under construction at Yangzhou Dayang Shipyard in China, for 57m. The provider of seaborne transportation services for dry bulk cargoes said it will fund the acquisition with a mixture of funds raised from an initial public offering and moderate conventional debt, and that the buy will enhance its earnings and dividends. The ship is expected to be delivered in December and added that its fleet will expand to seven dry bulk carriers.

Euroseas Ltd. Declares Quarterly Dividend

Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and a provider of seaborne transportation for drybulk and containerized cargoes, announced today that it has declared a dividend of $0.25 per common share for the second quarter of 2007. The dividend is payable on August 24, 2007 to all shareholders of record as of August 15, 2007. This dividend marks an increase of 4.2% from the prior quarter's dividend of $0.24 per share.

Excel Maritime Announces 2Q Results

Excel Maritime Carriers Ltd an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that on Monday, August 13, 2007, after the close of the market in New York it will release its results for the second quarter ended June 30, 2007. On August 14, the company’s management will host a conference call to discuss the results.

Euroseas Sells C/V Tiger Bridge

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  Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today the sale of C/V Tiger Bridge (a 2,228 TEU Container vessel, built in 1990) to an unaffiliated third party (the “Buyers”) for recycling. The Company will deliver the Vessel to the Buyers latest by November 16, 2015.

Euroseas Sells C/V Marinos

CV Marinos Courtresy Euroseas

  Euroseas Ltd.  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today the sale of C/V Marinos (a 1,599 TEU Container vessel, built in 1993) to an unaffiliated third party (the "Buyers") for recycling. The Vessel was delivered to the Buyers today, November 27, 2015.

Excel Maritime Increases Quarterly Minimum Dividend

Excel Maritime Carriers an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that the Board of Directors has increased the Company’s minimum annualized dividend guidance to $1.60 and has set the 2008 minimum annualized dividend guidance to $1.20. This guidance would result in a minimum quarterly dividend of $0.40 per common share beginning with the dividend declared for the second quarter of 2008.

Excel Maritime Carriers Enters Into a Time Charter Agreement

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has chartered M/V Rodon for a period of minimum 20 months and up to about 23.5 months at US $24,000 per day to a first class European charterer. The vessel will be delivered into charter on November 28, 2006. M/V Rodon is a Panamax dry bulk carrier of 73,670 dwt, built in 1993 in Korea, which the company acquired and took delivery of in June 2005.

Euroseas Ltd. Takes delivery of its 10th Vessel

Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that it took delivery of M/V Manolis P (ex M/V Bitre Ritscher), a Handysize containership of 20,346 dwt and 1,452 teu, built in 1995 in Germany, which it had previously agreed to acquire, on April 12, 2007. The M/V Manolis P was acquired for approximately $19.15 million and has been secured under a one-year period charter until March 2008 at $13,450 per day.

Euroseas Announces First Quarter Results Release Date

Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today it will release its first quarter results for the period ended March 31, 2007, after the close of the financial markets in New York on Tuesday, May 29, 2007. On Wednesday, May 30, 2007, at 11:00 a.m. EDT, Euroseas's management will host a conference call to discuss the results.

Excel Appoints New CEO

Excel Maritime Carriers Ltd., an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has appointed Mr. Gabriel Panayotides as acting Chief Executive Officer pending the consummation of its acquisition of Quintana Maritime Limited. About

Excel Maritime to Release 4Q Results

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced that on Monday, March 17, 2008, after the close of the market in New York it will release its results for the fourth quarter and year ended December 31, 2007, rather than the previously announced date of Wednesday, March 12, 2008. The company’s management will not host a conference call.

Excel Maritime Acquires Handymax Dry Bulk Vessel

Excel Maritime Carriers Ltd a shipping company specializing in the seaborne transportation of dry bulk cargoes, announced that it has entered into an agreement to purchase a Handymax dry bulk vessel for delivery during the first quarter of 2005. The vessel, of 42,500 dwt, was built in Japan in 1987, and will be put directly into the spot and short term time charter markets. CEO Christopher Georgakis commented, "The demand for seaborne dry bulk trade has grown tremendously over the last few months and continues to be strong. While no one can predict the future, the Baltic Dry Index of charter rates has risen 35 percent from September 30, 2004 to 5551.

New One-year Time Charters for Two Excel Maritime Bulkers

New one-year time charters for two dry bulk carriers of Excel Maritime Carriers Ltd. Kamsarmax M/V Iron Vassilis (82,257 dwt; built in 2006) and Panamax M/V Grain Express (76,466 dwt; built in 2004) have been fixed for a period of 10 -13 months at a gross daily rate of $11,000. Following these fixtures, the Company’s charter coverage for the full year 2012 is: 72% for the entire fleet; 100% for the Capesize fleet. Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products.

Euroseas Reports 2Q Results

Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the second quarter of 2008 and six month period ended June 30, 2008. -- Net income of $15.7 million or $0.52 per share basic and $0.51 per share diluted calculated on 30,428,810 basic and 30,554,537 diluted weighted number of shares outstanding, respectively, on total net revenues of $34.5 million. Excluding the effect on the earnings for the quarter from the amortization of the fair value of time charter contracts acquired the earnings per share for the quarter ended June 30, 2008 would have been $0.44 per share basic and diluted. -- Adjusted EBITDA was $21.7 million.

Maritime Reporter Magazine Cover Nov 2017 - The Workboat Edition

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