28-December-2015
A kamsarmax bulk carrier owned by Athens-based Transmed Maritime Ltd experienced an explosion in one of its cargo holds while anchored at Paranagua Port in Brazil. The incident occurred on the 2013-built kamsarmax bulk carrier MV Akaki, which was loaded with corn and ready to depart for Vietnam. Fortunately, there were no injuries or oil spills reported from the explosion, and the vessel’s hull remained intact. Following the event, the local port authority initiated an investigation to determine the cause of the explosion. As a result, the MV Akaki, under the control of Transmed Maritime Ltd, is expected to stay at the port until the investigation concludes. 2013-built kamsarmax bulk carrier MV Akaki is reportedly chartered to Glencore on a time charter for approximately $8,600 per day. The Administration of Paranaguá and Antonina (APPA) has indicated that the explosion could have been caused by gas generated by the corn cargo due to high temperatures.
22-December-2015
Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. has been linked to the cancellation of a kamsarmax bulk carrier newbuilding project at COSCO (Dalian) Shipyard Co. Ltd., marking a notable development in the shipowner’s fleet renewal strategy. COSCO (Dalian) Shipyard Co. Ltd. confirmed that KC Maritime Hong Kong Ltd. cancelled one of its two 82,000 DWT kamsarmax bulk carriers on order at the yard and opted to defer delivery of the second unit. The kamsarmax bulk carrier that was originally scheduled for delivery in Q1 2016 has now been deleted from the orderbook, while the delivery of the second kamsarmax bulk carrier, initially expected this quarter, has been postponed to Q3 2017. COSCO (Dalian) Shipyard Co. Ltd. stated that construction on neither ship had commenced, and the downpayment received for the cancelled ship would be transferred toward the remaining vessel’s construction. This development underscores the measured and strategic approach that Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. has long been known for. Founded in 1999 as part of the Chellaram Group’s expansion into the dry bulk shipping sector, KC Maritime Hong Kong Ltd. is a privately owned shipowner that has built a strong reputation for reliability, technical excellence, and prudent capital management. Headquartered in Hong Kong, with major operational and crewing support based in India, KC Maritime Hong Kong Ltd. combines Hong Kong’s established financial and maritime expertise with India’s robust technical and human resource base. The shipowner operates a diversified fleet consisting of kamsarmax, panamax, and ultramax bulk carriers, as well as specialized cement carriers, serving a global network of charterers engaged in the trade of coal, iron ore, fertilizers, grains, and other bulk commodities. Over the years, KC Maritime Hong Kong Ltd. has cultivated a conservative yet adaptive investment strategy, balancing between asset acquisitions, fleet renewals, and selective divestments. The shipowner maintains a reputation for working closely with top-tier ship managers and classification societies to ensure operational excellence, safety, and environmental compliance. Under the leadership of Gautam Chellaram, KC Maritime Hong Kong Ltd. has prioritized sustainable growth, crew welfare, and advanced fleet management practices, aligning its operations with international standards such as ISO, ISM, and the International Maritime Organization’s decarbonization initiatives. The cancellation of one kamsarmax bulk carrier order reflects KC Maritime Hong Kong Ltd.’s cautious market outlook during a period of significant freight market volatility and evolving environmental regulations. By deferring delivery and reallocating capital toward a single, more efficient newbuilding, the shipowner demonstrates its focus on long-term fleet optimization and financial discipline. KC Maritime Hong Kong Ltd. remains one of the most respected privately owned dry bulk shipowners operating between Hong Kong and India, known for its high-quality fleet, long-standing industry relationships, and commitment to operational reliability. The shipowner’s ongoing efforts to modernize its fleet, combined with its steadfast dedication to integrity, performance, and safety, ensure its continued prominence in the international shipping industry.