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Friday, January 19, 2018

Ship Bulk News

COSCO Shipping Bulk Sets Sail

Photo: COSCO Group

The world's largest bulk vessel fleet in terms of both ship numbers and deadweight tonnage COSCO Shipping Bulk Co is officially launched in Guangzhou. Its a merger between two companies - COSCO Bulk Carrier Co and China Shipping Bulk Carrier Co. According to a report in China.org, with a total of 382 self-operated and controlled bulk vessels and a capacity of 34.58 million deadweight tons, COSCO Shipping Bulk will be able to ship iron ore, coal, grain and other commodities to more than 1,000 ports in some 100 countries and regions. Its annual freight volume will exceed 340 million metric tons.

Senate O.K.s U.S. Waterways Improvement Bill

The U.S. Senate passed legislation to improve transportation on the Mississippi and Illinois Rivers for Midwestern farmers shipping bulk commodities. The legislation provided $2 million for the initial phase of the Upper Mississippi and Illinois waterway system navigation modernization project. The project will redesign and expand seven locks -- five on the Mississippi and two on the Illinois -- that currently delay shipments on the river because the locks are too small to handle modern-sized barge tows. Modernizing locks is considered important because barge transportation is one of the cheapest ways to move bulk commodities.

UltraStrip Signs Agreement with BAE Systems

UltraStrip Systems, Inc. announced the signing of a five year exclusive agreement with BAE Systems ship yard subsidiaries in San Francisco and San Diego to provide its patented robotic automated waterjetting technology equipment and services. UltraStrip's robotic technology will perform high speed coating removal services to the shipyard's customers, including U.S. Navy vessels, oil tankers, cruise ships, bulk carriers, and container ships. BAE Systems San Francisco and BAE Systems San Diego are subsidiaries of BAE Systems Ship Repair, Inc., a group of companies owned by U.K. based BAE Systems.

China Shipping Charters Diana Panamax

Calipso. Photo by Diana Shipping

Diana Shipping has entered into a time charter contract with Hong Kong - based China Shipping Bulk Carrier, for one of its Panamax dry bulk vessels, the m/v Calipso. The "Calipso" is a 73,691 dwt Panamax dry bulk vessel built in 2005. The gross charter rate is US$6,000 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum fourteen (14) months. Diana Shipping Inc.'s fleet currently consists of 41 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax).

Digital Naming of Stena Immortal

Photo: Stena Bulk AB

The digital naming of the MR tanker Stena Immortal took place January 18 at Stena's new office in Hellerup in the north of Copenhagen. The 50,000 dwt Stena Immortal was built at the Guangzhou Shipbuilding International (GSI) shipyard in southeast China and is jointly owned on a 50-50 basis by Stena Bulk and Indonesian Golden Agri Resources (GAR). Following her delivery in September 2016, the 183-meter-long tanker has sailed in one of Stena Bulk's global logistics systems, which currently employ some 60 vessels, with a focus on refined petroleum products, vegetable oils and chemicals.

Northrop Grumman Introduces New ECDIS-E

Northrop Grumman Corporation is introducing the VisionMaster FT Electronic Chart Display and Information System-E (ECDIS-E), a new cost-effective navigation solution for commercial tankers, container ships, bulk carries and passenger ferries including retrofit installations. Based on the Northrop Grumman Sperry Marine VisionMaster FT platform, the new ECDIS-E combines an optimized feature set with easy to install hardware. The system meets International Maritime Organization requirements for certain classes of vessels operating internationally to be equipped with ECDIS for paperless navigation. "This new design not only meets mandatory safety requirements, but brings new technology to the user," said Alan Dix, managing director, Sperry Marine.

G E Shipping Sells Supramax

Photo: The Great Eastern Shipping Co. Ltd.

India’s largest private sector shipping company  Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt. G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18. The Company’s current fleet (including Jag Rahul) stands at 48 vessels, comprising 32 tankers (12crude carriers, 17 product tankers, 3 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 10.24 years aggregating 3.93 mn dwt.

COSCO Signs Contracts with Four Shipyards

Xinhua reported that COSCO Group, China's leading shipping and logistics service provider, inked in Boao, Hainan Province on Saturday contracts with four domestic shipyards to build 66 ships. Zhang Fusheng, a COSCO spokesman, did not disclose the total value of these shipbuilding contracts but said they summed up to a record amount for the shipping giant. The move is to help meet China's strong demand for shipping as the country's fast economic development gives rise to more imports of energy resources and more auto imports and exports, said analysts. Wu Bangguo, Chairman of the Standing Committee of China's National People's Congress, attended the signing ceremony on the sidelines of the annual conference of the Boao Forum for Asia.

Fisherman's Protest in Brazil Stalls Container Port

Photo courtesy of Port of Itajai

A protest by fishermen at the container shipping port of Itajai in southern Brazil has prevented several ships from entering or leaving, the local port authority said on Tuesday. Fishermen started protesting government measures to stop fishing of endangered species on Monday, saying many of the species have commercially viable populations. Itajai does not ship bulk grains but it is an important commercial center for frozen meat. Brazil is the world's No. 1 beef exporter. In addition to three stalled container ships…

World Ship Owners Adopt Kalu as President

Photo: Orji Uzor Kalu, Facebook Page

World Shipowners’ Association (WSA) has appointed Nigeria-born Forbes billionaire and President of Slok Group, Orji Uzor Kalu as interim president of the body. The maritime industry globally is set to meet its full potential following the unveiling of an umbrella body for all national, regional and international associations of ship owners called WSA, says a press release signed by WSA’s interim Director of Strategy and Communications, Isaac Marshall. The association which was…

Sperry Marine Gets Contract

The U.S. Naval Sea Systems Command has awarded a contract to Northrop Grumman Corporation  to supply integrated bridge systems (IBS) for three U.S. Navy cruisers. The indefinite-delivery indefinite-quantity contract, valued at $2.72m, was awarded to Northrop Grumman’s Sperry Marine business unit. Under the contract, the new-generation IBS, running on Sperry Marine’s Voyage Management System (VMS) software, will be back-fitted onto three guided-missile cruisers (CG). Sperry Marine has supplied similar VMS-based integrated navigation systems for hundreds of commercial vessels worldwide, including tankers, container ships, bulk carriers and passenger cruise ships.

Yangzijiang Shipbuilding to Slash 2,000 More Jobs

Chinese shipbuilder Yangzijiang Shipbuilding Holdings Ltd said it plans to cut 2,000 additional jobs, just under 10 percent of its current workforce, stepping up efforts to cut costs as new vessel orders slide amid a volatile global economy. The Singapore-listed firm, which says it is one of the largest private shipbuilding companies in China, has already cut about 4,000 jobs this year, a spokesperson said late on Thursday, bringing its current workforce to 22,000. Earlier this month, it said revenue was nearly halved in the second quarter as it soaked up a broad industry downturn. The company, which has four shipyards in China's Jiangsu province…

Diana Fixes Artemis to China Shipping

Artemis. Photo: Diana Shipping

Diana Shipping Inc, a global provider of shipping transportation services through its ownership of dry bulk vessels, has chartered out one of its panamax bulkers - Artemis (76,942 dwt, built 2006)  - to China Shipping Bulk Carrier. The gross charter rate is US$7,500 per day minus a 5% commission paid to third parties, for a period of minimum nine (9) months to maximum twelve (12) months. The charter commenced yesterday. Diana expects the contract, which commenced yesterday, to generate $2.02m of gross revenue for the minimum nine-month period of the timecharter.

Eagle Bulk Shipping Adds New Ultramax

Image: Eagle Bulk Shipping Inc

U.S. based owner of Handymax dry bulk vessels Eagle Bulk Shipping has announced that it has taken delivery of its newly acquired vessel, the M/V New London Eagle, a 2015-built CROWN-63 Ultramax. The acquisition has been funded by cash on-hand and new debt of USD 8.6 million. This loan, which equates to approximately 40% of the purchase price, represents an upsize to the existing Eagle Bulk Ultraco LLC Debt Facility which carries an interest rate of LIBOR plus 2.95% and has a maturity of October 31, 2022.

Vessel Sinks with All Filipino Crew

The 190 meter long, 56009 dwt bulk carrier Bulk Jupiter sank off the coast of Vung Tau, Vietnam.

A Bahaman ship Bulk Jupiter with all-Filipino crew members sank on Friday in the East Vietnam Sea, some 150 nautical miles off southern Vung Tau City. Personnel of the Vietnam Maritime Rescue Cooperation Center (MRCC) rescued one and recovered two bodies of the crew members. Bulk Jupiter issued ditress signals at 22:54 hours UTC on January 1st in position lat 9".01' 01:001N, long 109" 15' 26.01E. The vessel departed Kuantan on 30th December 2014 at around 20:00 hours local time…

Hyundai Heavy Leads Shipyard Decline on Prices

Hyundai Heavy Industries Co., led a decline in South Korean shipyard stocks in Seoul trading on concern prices for new vessels may drop. Hyundai Heavy fell 5.8 percent, the biggest decline in more than a week, to close at 319,500 won in Seoul. Hyundai Mipo Dockyard Co., a unit of Hyundai Heavy, fell 7.1 percent to 201,500 won. The shares also dropped after UBS AG said orders may slow this year from the record sales in 2007. The price for second-hand bulk carriers was as much as 61 percent more than for new vessels last year because of increased demand for iron ore and coal from China and India. Shipyards in South Korea, the world's biggest shipbuilding nation, increased their order backlog last year, even with ship prices at records.

Captain Becker Joins MITAGS

Glen Paine, Executive Director of the Maritime Institute of Technology and Graduate Studies (MITAGS) and the Pacific Maritime Institute (PMI), has announced that Captain Robert J. Becker has joined MITAGS as the Academic Business Development Manager. Captain Becker is responsible for establishing market strategies, enhancing the client base, developing and managing proposals and contracts, evaluating client requirements to improve quality of service, measuring the effectiveness of marketing strategies, maintaining a business relationship with current clients, and coordinating all marketing and training programs with the academic department heads. “Bob is a seasoned professional and a highly experienced ship master,” said Glen Paine.

Becker Joins MITAGS

Glen Paine, Executive Director of the Maritime Institute of Technology and Graduate Studies (MITAGS) and the Pacific Maritime Institute (PMI), has announced that Captain Robert J. Becker has joined MITAGS as the Academic Business Development Manager. Captain Becker is responsible for establishing market strategies, enhancing the client base, developing and managing proposals and contracts, evaluating client requirements to improve quality of service, measuring the effectiveness of marketing strategies, maintaining a business relationship with current clients, and coordinating all marketing and training programs with the academic department heads. “Bob is a seasoned professional and a highly experienced ship master,” said Glen Paine.

COSCO Holdings to Build 46 Ships with $2.7b

Hong Kong-listed shipping company COSCO Holdings Co. Ltd. (SEHK: 1919 and SHSE: 780919) plans to build 46 ships with a total of $2.7b. The company is expected to have a fleet with 39 million deadweight tons in 2010. It is mainly engaged in bulk cargo transport under the wing of China Ocean Shipping (Group) Co. (COSCO), one of the five biggest shipping conglomerates in the country. Recently, COSCO Holdings announced that it would purchase the parent interests in its three subsidiaries COSCO Bulk Carrier Co., Ltd., Qingdao Ocean Shipping Co., Ltd., Shenzhen Ocean Shipping Co., Ltd. The purchase is still subject to the temporary shareholder meeting to be held by the Hong Kong-listed company on October 23.

Diana Shipping Enters into TC Contract with Uniper

Photo: Diana Shipping Inc.

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$12,700 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter commenced on January 13, 2018. The m/v Phaidra was previously chartered to Jera Trading Singapore Pte. Ltd.

Capesize Rates Pull Baltic Index to 4-month Low

© NS Photography / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than four-month low on Tuesday, as capesize rates dropped to their lowest since August last year. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, lost 43 points, or 3.4 percent, to 1,221 points, the lowest since Sept. The capesize index fell 221 points, or 9.91 percent, to 2,010 points, its lowest level since Aug. 10 last year.

APM Terminals Poti to Build Cargo Terminal

Photo: APM Terminals

APM Terminals Poti and Poti New Terminals Consortium signed a Memorandum of Understanding (MOU) for a USD 100 million dollar investment in a new bulk cargo terminal that can process 1.5 million tons of dry bulk cargo annually and generate new trade opportunities for customers in the Georgian transit corridor. The new terminal is expected to be built on APM Terminals Poti land and infrastructure and will entail the construction, development and operation of a new breakwater, dry bulk cargo terminal and related infrastructure to serve bulk cargo customers.

Singapore Port Sustains Performance

Singapore continues to attract a diverse range of maritime businesses and is now home to over 130 international shipping groups and more than 5,000 maritime establishments. The maritime cluster employs more than 170,000 people and contributes some seven per cent to Singapore’s Gross Domestic Product. Mr Andrew Tan, Chief Executive of MPA, said, “2016 was an eventful year for the shipping industry with further changes in the mega-alliances, new mergers and acquisitions, continued excess capacity and depressed rates amidst slower global growth. Despite these challenges, Maritime Singapore sustained its position. 2017 will be another pivotal year. Annual vessel arrival tonnage increased by 6.3 per cent n 2016 compared to 2015, reaching 2.66 billion gross tonnes (GT).

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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