19-December-2013
Switzerland-based shipowner and operator Suisse-Atlantique acquires two (2) supramax bulk carriers from Copehagen-based shipowner Lauritzen. Suisse-Atlantique is venturing into the supramax segment by purchasing two (2) supramax bulk carriers from Lauritzen Bulkers of Denmark. CEO Eric Andre-led shipowner and operator Suisse-Atlantique acquired 2011 built supramax bulk carrier 57K DWT MV Toucan Bulker and 2011 built supramax bulk carrier 57K DWT MV Thunderbird Bulker. Suisse-Atlantique is paying $29.5 million per ship. MV Toucan Bulker and MV Thunderbird Bulker were constructed by Tsuneishi Cebu, had been part of the Lauritzen fleet since their delivery. In May, Switzerland-based shipowner and operator Suisse-Atlantique committed to acquiring three (3) bulk carriers, each with a capacity of 87K DWT from Hyundai Mipo Dockyard (HMD) for a total cost of slightly over $100 million.
15-December-2013
New Times Shipbuilding has secured a significant contract for four 64K DWT ultramax bulk carriers from Athens-based shipowner and operator PrimeBulk Shipmanagement Ltd, in a deal valued at approximately US$100 million. The order reinforces the growing collaboration between prominent Greek shipowners and Chinese shipyards as the demand for modern, fuel-efficient, and environmentally compliant ships continues to rise. The four ultramax bulk carrier newbuildings are slated for delivery between Q4 2015 and Q1 2016, adding substantial tonnage to the Greek shipowner and operator’s expanding dry bulk fleet. Athens-based shipowner and operator PrimeBulk Shipmanagement Ltd, under the leadership of Greek shipping executive Paul Coronis, has earned a reputation for its strategic investment approach, operational reliability, and prudent financial management. Headquartered in Athens, PrimeBulk Shipmanagement Ltd operates a versatile fleet of bulk carriers spanning the capesize, panamax, supramax, and handysize segments. The shipowner and operator has consistently pursued a balanced strategy focused on timing market cycles, optimizing asset value, and maintaining a young, fuel-efficient fleet to meet the requirements of international charterers. The latest order at New Times Shipbuilding marks a major milestone in PrimeBulk Shipmanagement Ltd’s fleet renewal plan, aligning with its long-term objective to enhance environmental performance and operating efficiency. The newly contracted ultramax bulk carriers are expected to feature energy-saving hull designs, advanced fuel optimization systems, and equipment fully compliant with the International Maritime Organisation (IMO) Energy Efficiency Design Index (EEDI) standards. PrimeBulk Shipmanagement Ltd’s decision to build at New Times Shipbuilding demonstrates its growing confidence in the capabilities of Chinese shipyards, particularly as China continues to refine its technical expertise and production quality in the ultramax and kamsarmax segments. PrimeBulk Shipmanagement Ltd has long emphasized strong relationships with shipyards, brokers, and financiers across Asia and Europe. The Greek shipowner and operator’s collaboration with Chinese shipbuilders, including New Times Shipbuilding and Shanghai Waigaoqiao Shipbuilding, underscores its commitment to securing modern, reliable tonnage with competitive delivery schedules and cost structures. The partnership is also a reflection of PrimeBulk Shipmanagement Ltd’s flexible procurement strategy, which balances Japanese and Chinese construction depending on market conditions and project requirements. Beyond ship acquisition, PrimeBulk Shipmanagement Ltd provides full-scale in-house management services encompassing technical supervision, crewing, chartering, safety compliance, and voyage optimization, ensuring total operational control and high service standards. The company’s proactive approach to environmental management and vessel efficiency has positioned it favorably among first-class charterers (FCC) who prioritize sustainability and reliability in their shipping partnerships. Under the direction of Paul Coronis, PrimeBulk Shipmanagement Ltd has steadily expanded its market footprint, leveraging Greece’s maritime expertise while adopting modern management practices and digital tools to optimize fleet operations. Its investment philosophy remains focused on asset quality and timing—acquiring vessels at opportune moments and divesting mature assets when market values peak. The ultramax bulk carrier order at New Times Shipbuilding forms part of a broader growth trajectory aimed at reinforcing the company’s competitiveness in the global bulk carrier market. For New Times Shipbuilding, the deal with PrimeBulk Shipmanagement Ltd represents another major win in a year of rising contract activity. Since March, the shipyard has recorded a total of 40 newbuilding orders, including firm deals, options, and letters of intent (LOIs). This growing orderbook highlights New Times Shipbuilding’s reputation as one of China’s most productive private shipyards, specializing in high-quality, energy-efficient bulk carriers for international owners. As both PrimeBulk Shipmanagement Ltd and New Times Shipbuilding continue to strengthen their positions within their respective markets, this partnership reflects a broader shift in global shipbuilding dynamics—where leading Greek shipowners increasingly rely on Chinese yards to deliver state-of-the-art ships tailored for future regulatory and operational demands.
5-December-2013
Joining the growing wave of newbuilding orders in the global bulk carrier sector, Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. has entered the newbuilding market with a strategic fleet expansion move that highlights the shipowner’s renewed confidence in long-term dry bulk fundamentals. Toward the end of November, KC Maritime Hong Kong Ltd. finalized an order for four 64,000 DWT ultramax bulk carriers at CSSC Guangzhou Huangpu Shipbuilding, marking a milestone as the first non-mainland Chinese shipowner to place an order at this particular yard. The 64,000 DWT ultramax bulk carrier design represents a next-generation evolution of CSSC Guangzhou Huangpu Shipbuilding’s earlier 57,000 DWT supramax bulk carrier class, featuring improved hull efficiency, reduced fuel consumption, and compliance with the latest environmental standards. Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd., which operates under the long-established Chellaram family, has built a reputation as one of India’s and Hong Kong’s most disciplined, quality-focused shipowners. The Chellaram family’s maritime roots trace back to the early 20th century, when it first began trading and shipping commodities across Asia, Africa, and Europe. Over the decades, the family expanded its maritime footprint through a network of affiliated enterprises, including offshore operator Chellsea in Singapore, maintaining a legacy of integrity and professionalism across global shipping markets. KC Maritime Hong Kong Ltd., headquartered in Hong Kong with strong operational and crewing support in India, manages a modern fleet of kamsarmax, panamax, supramax, and ultramax bulk carriers. The shipowner serves a wide spectrum of international charterers engaged in the global transportation of coal, fertilizers, grain, cement, iron ore, and other bulk commodities. Under the leadership of Captain Vikrant Bhatia, a veteran shipping executive previously with Valles Steamship, KC Maritime Hong Kong Ltd. has continued to uphold its conservative investment philosophy while strategically expanding into newer, more efficient ship types. Commenting on the market outlook, KC Maritime Hong Kong Ltd. CEO Captain Vikrant Bhatia stated, “We are cautiously optimistic for 2014. Trade numbers look encouraging, with several new mining developments coming onstream.” However, Captain Vikrant Bhatia also noted macroeconomic headwinds, adding, “China’s GDP growth remains a concern, and we are carefully monitoring developments in that space.” A thoughtful and analytical industry leader, KC Maritime Hong Kong Ltd. CEO Captain Vikrant Bhatia has also questioned whether traditional shipping cycles have permanently changed. “With the increasing shipbuilding capacity, is the cyclicality model over?” he reflected, observing how short lead times now make it possible for shipowners to secure delivery slots even within the same year, a clear departure from historical shipbuilding trends. At the time of the order, KC Maritime Hong Kong Ltd. maintained a fleet of 12 bulk carriers in operation and another six under construction, representing a balanced mix of panamax bulk carriers, kamsarmax bulk carriers, supramax bulk carriers, and ultramax bulk carriers. “We will stay within our core segment,” emphasized KC Maritime Hong Kong Ltd. CEO Captain Vikrant Bhatia when asked about diversification plans, underscoring the shipowner’s commitment to the dry bulk sector. The decision to order new tonnage at CSSC Guangzhou Huangpu Shipbuilding came amid signs of recovery in newbuilding prices, which KC Maritime Hong Kong Ltd. viewed as having reached their lowest point. By capitalizing on these market conditions, the shipowner aimed to secure high-quality, eco-design ships at competitive levels while positioning itself for the next market upturn. KC Maritime Hong Kong Ltd. continues to emphasize safety, technical excellence, and sustainability as key pillars of its operations. The shipowner maintains strong working relationships with top-tier ship managers, classification societies, and charterers, ensuring that its fleet operates to the highest international standards. With its disciplined management style, long-term strategic vision, and dedication to environmental performance, KC Maritime Hong Kong Ltd. stands as one of the most respected privately owned dry bulk shipowners in Asia. The newbuilding order at CSSC Guangzhou Huangpu Shipbuilding not only strengthens KC Maritime Hong Kong Ltd.’s fleet renewal strategy but also reaffirms its status as a forward-looking shipowner blending maritime tradition, operational discipline, and technological innovation in the ever-evolving global dry bulk shipping market.