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Tuesday, April 24, 2018

Seaborne Transportation News

Star Bulk Carriers Acquires 16 Vessels

Photo:  Star Bulk Management Inc.

Star Bulk Carriers Corp announced that it has agreed to acquire 16 vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction. As consideration for the Vessel Acquisition, Star Bulk has agreed to issue approximately 10.5 million common shares to the sellers of the 16 vessels, equal to approximately 14.1% of Star Bulk’s common shares after the closing of the Vessel Acquisition. Under the terms of the agreement with the sellers…

Euroseas Sells its Oldest Bulk Carrier Vessel

Image courtesy of Euroseas

Greece-based Euroseas announced the sale of M/V Monica P, a 46,667 dwt vessel, built in 1998, to unaffiliated third party for the gross amount of $6.45 million. The owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes said that the vessel will be delivered to its buyers by June 30 2018. The Company has a fleet of 17 vessels, including 3 Panamax drybulk carriers, 1 Handymax drybulk carrier, 1 Kamsarmax drybulk carrier, 1 Ultramax drybulk carrier, 10 Feeder containerships and an intermediate containership.

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.

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.

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 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.

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.

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.

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.

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 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.

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 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 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.

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 Announces Time Charter Contracts

Euroseas Ltd. The new charters will commence on April 9 for the EM Athens and April 7 for the Manolis. Euroseas typically announces charter arrangements of a year or longer duration. Aristides Pittas, Chairman and CEO, of Euroseas commented: “We are very pleased to announce the new charter and the extension of another for one more year for two of our containerships. These charters are roughly 30% higher than what the ships earned prior and is a clear sign that the sector is recovering. We have positioned our container fleet to take advantage of this anticipated rising market and, currently, have 6 more vessels that come up for renewal of their charters within the following 3 months.

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.

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