30-April-2016

Denmark-based shipowner and operator Falcon Maritime bought a handy size bulk carrier from auction at Hanzevast Capital. Falcon Maritime bought 2011 built handy bulk carrier 34K DWT M/V Hanze Groningen.

 

29-April-2016

A Greek shipowner has acquired the 2007-built kamsarmax bulk carrier 82K DWT M/V Safe Voyager for $9.4 million, while the 2009-built kamsarmax bulk carrier 82K DWT M/V FD Isabella was sold by Japanese shipowner and operator Kambara Kisen Co Ltd to Chinese shipowners for $9.2 million, with both transactions reflecting a notable increase in asset values compared to January when similar kamsarmax bulk carriers were being sold for around $7 million, indicating that shipowners may perceive the market as having bottomed out and are now acting on expectations of a rebound by moving quickly to secure dry bulk carriers; Kambara Kisen Co Ltd, based in Ehime Prefecture and operating as the shipping division of Japan’s Tsuneishi Shipbuilding, has a long-standing presence in the global maritime sector with a fleet spanning bulk carriers, car carriers, and general cargo ships, and remains active in both newbuilding and secondhand markets as part of its strategy to optimize fleet composition, manage capital efficiently, and maintain its competitive position in the dry bulk shipping sector through timely asset sales and charter-backed acquisitions.

 

29-April-2016

Korean Hyundai Merchant Marine (HMM) sold Korean Sungdong Shipyard 2011 built capesize bulk carrier 180K DWT M/V Hyundai Trust to Singapore based shipowner Winning Shipping for $22 million.

 

28-April-2016

Malaysian Bulk Carrier is trying to sell Japanese 2003 built supramax bulk carrier 53K DWT M/V Alam Murni. M/V Alam Murni will be in Colombia first week of May 2016 for inspection. Malaysian Bulk Carrier is the biggest shipowner in Malaysia and operating dry bulk carriers handy bulk carriers up to panamax size.

 

28-April-2016

Greek shipowner and operator Marmaras Navigation acquired 2015 Japanese built supramax bulk carrier 60K DWT M/V Aby Paola for $18.5 million. Currently, Marmaras Navigation has a fleet of 26 bulk carriers. Last month, Greek Marmaras Navigation also bought 2012 built panamax bulk carrier 81K DWT M/V Eternity Island for $13 million. In March, Greek Marmaras Navigation sold 1998 built handymax bulk carrier 47K DWT M/V Anatoli.

 

28-April-2016

Precious Shipping canceled 3 ultramax new-buildings in Chinese Shipyard called Taizhou Sanfu Ship Engineering. Previously, Precious Shipping ordered Taizhou Sanfu Ship Engineering 10 dry bulk carriers which is costing $27 million each. Precious Shipping was dissatisfied with the performance of the 63K DWT ultramax bulk carriers which did not deliver the promised fuel savings. Chinese shipyard will give a $2 million discount on delivered ultramax bulk carriers and canceled 3 ultramax newbuilding orders. Precious Shipping asking $4 million per dry bulk carrier in damages for breach of contract which is arbitrated in London.

 

28-April-2016

ABYO is a new joint venture between Augustea Bunge, York Capital Management, Oceabulk. New joint venture ABYO bought one (1) panamax and one (1) cape size bulk carrier. ABYO bought 2006 built panamax bulk carrier 82K DWT MV ABYO Oprah and 2011 built cape size bulk carrier 175K DWT MV ABYO Audrey.

 

28-April-2016

Korean Sinokor Merchant Marine sold capesize bulker 150K DWT MV Silver Trade built 1996 for demolition for $300 per ldt (Lightweight Displacement Tonnage) which is about $5 million to an Indian scrapyard. In 2011 Korean Sinokor Merchant Marine bought this cape size bulk carrier for $18m from George Economou’s DryShips. Three months ago, Korean Sinokor Merchant Marine also sold cape size bulk carrier 158K DWT MV Silver Master (built 1996) for scrap. In 2015, a total of 96 cape size bulk carriers sold for demolition. In 2016, up to now, 46 cape size bulk carriers sold for demolition.

 

28-April-2016

Norwegian shipowner Spar Shipping sold panamax bulk carrier M/V Spar Neptun 70K DWT for demolition to Indian Scrapyard for $290 per ldt (Lightweight Displacement Tonnage) which is around $2.7 million. M/V Spar Neptun was operated Klaveness ship management’s Baumarine pool. MV Spartan Neptune ex MV Apollon and MV Alianthos were bought in 2004 by Spar Shipping for $65 million.

 

28-April-2016

Three (3) crew members badly injured and one (1) killed in an explosion in 2010 built supramax dry bulk carrier 56K DWT MV Tamar off Cape Cod, USEC (United States East Coast). M/V Tamar sailed from Baltimore, USA. Slovenian shipowner and operator Splosna Plovba’s shipmaster reported the explosion to US Coast Guard (USCG). US Coast Guard (USCG) immediately started a rescue operation to provide medical treatment for the injured crew members. Fire on 2010 built supramax dry bulk carrier 56K DWT MV Tamar was extinguished. 25-Apil-2017

 

Slovenian shipowner and ship-manager Splosna Plovba sold 1998 built handy bulk carriers 42K DWT MV Lipica and MV Triglav both to Bangladesh for $287 per ldt (Lightweight Displacement Tonnage). Furthermore, Splosna Plovba sold 1998 built handy bulk carrier 46K DWT MV Postojna to India for $307 per ldt (Lightweight Displacement Tonnage). After scrapping the handy bulk carriers, nine (9) bulk carriers left in the fleet of Splosna Plovba. Slovenian shipowner Splosna Plovba will soon try to recycle 1998 built handymax bulk carrier 48K DWT MV Vipava.

 

28-April-2016

Greek Steel Ships sold 2001 Japanese built handymax bulk carrier 48K DWT M/V Steel Vision for $3.5 million. Steel Ships is a subsidiary company of Dianik Bros Shipping. In 2013, Greek Steel Ships bought M/V Steel Vision for $12.3 million. Greek Steel Ships sold 1991 built handymax bulk carrier 65K DWT M/V Steel Titan and 1995 built handymax bulk carrier 46K DWT Steel Wisdom for demolition last year. Currently, Steel Ships fleet consists of 2 handymax bulk carriers and 1 supramax bulk carrier.

 

27-April-2016

Istanbul-based shipowner and operator Densay Shipping acquired 2014 built ultramax bulk carrier 61K DWT MV Western Narvik for around $17 million from a Japanese tonnage supplier. MV Western Narvik deal emphasizes the steadily enhancing bargaining position of tonnage sellers in the S&P (Sale and Purchase) market. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping has been increasing the bulker fleet.

 

26-April-2016

The first special passage from the extended Panama Canal will be on 26 June 2016, and Panama Canal Authority is holding a lottery to pick the first ship. Big operator names in the lottery include MSC, NYK, MOL, CMA CGM, Hamburg Sud, Maersk Line and Hapag-Lloyd. Neopanamaxes maximum beam of 49 meters and a maximum total length of 366 meters will be also in drawing.

 

22-April-2016

Singapore-based Wilmar International, commodity trader, sister company Raffles Shipping bought 2012 built supramax bulk carrier MV Anne Kjersti built for $6.3 million. Previously supramax bulk carrier MV Anne Kjersti was owned by Norway’s Jebsen family.

 

20-April-2016

New York-based Eagle Bulk Shipping (EGLE) sold third bulk carrier in a month. Japanese built 50K DWT M/V Harrier built 2000 has been sold to a Greek shipowner for $3.3 million. Eagle Bulk Carrier bought the bulk carrier for $34 million in 2005. Eagle Bulk Shipping last week sold supramax 50K DWT M/V Peregrine built 2001 for $2.7 million and in March sold 1997 built 47K DWT handymax bulk carrier M/V Kite for $4.8 million. Supramax bulk carriers specialist Eagle Bulk Shipping has 44 supramax bulk carriers in the fleet.

 

20-April-2016

Athens-based shipowner and operator PrimeBulk Shipmanagement Ltd has expanded its presence in the dry bulk market by moving decisively into the panamax segment, marking a significant milestone in its ongoing fleet diversification strategy. Industry sources have confirmed that Greek shipowner and operator PrimeBulk Shipmanagement Ltd, under the leadership of Paul Coronis, has purchased the Greek-controlled 15-year-old panamax bulk carrier MV Alexandra for approximately $4.3 million. The deal comes just days after PrimeBulk Shipmanagement Ltd acquired another panamax bulk carrier for around $3.8 million, signaling a deliberate effort to broaden its operational scope and strengthen its market positioning at a time when secondhand values remain attractive for well-maintained mid-age tonnage. The acquisition of these two panamax bulk carriers marks PrimeBulk Shipmanagement Ltd’s formal entry into the panamax segment, traditionally one of the most active and commercially flexible classes in the dry bulk industry. The Athens-based shipowner and operator has historically maintained a well-balanced fleet comprising ultramax, supramax, and handysize bulk carriers, serving a global base of industrial charterers, commodity traders, and ship operators. By adding panamax bulk carriers to its fleet, PrimeBulk Shipmanagement Ltd is diversifying its cargo coverage and trade reach, opening new opportunities in long-haul grain, coal, and mineral trades between Asia, Europe, and the Americas. PrimeBulk Shipmanagement Ltd, headquartered in Athens and managed by experienced Greek shipowner Paul Coronis, is known for its disciplined investment strategy and hands-on approach to ship management. The shipowner and operator’s philosophy centers around timing the market cycles efficiently—buying quality secondhand tonnage during periods of softer asset prices and divesting older ships when demand strengthens. Over the years, PrimeBulk Shipmanagement Ltd has built a reputation for operational excellence, financial prudence, and a deep understanding of asset value management, enabling it to consistently generate strong returns across volatile market conditions. The expansion into panamax bulk carriers follows a broader restructuring of PrimeBulk Shipmanagement Ltd’s fleet portfolio, which has included the sale of two handysize bulk carriers within the past month. These divestments form part of a strategic realignment toward larger, more fuel-efficient, and commercially versatile ships capable of meeting evolving charterer requirements and environmental regulations under the International Maritime Organisation (IMO) and the European Union Emissions Trading Scheme (EU ETS). PrimeBulk Shipmanagement Ltd has always emphasized technical reliability and eco-performance across its fleet, investing in ship upgrades, energy-saving technologies, and operational optimization to improve efficiency and reduce emissions. Beyond ownership, PrimeBulk Shipmanagement Ltd provides comprehensive in-house management services that include crewing, technical management, chartering, safety compliance, and voyage optimization. This vertically integrated structure allows the Athens-based shipowner and operator to maintain full operational control while ensuring consistent service quality for its chartering clients. Under the guidance of Paul Coronis, PrimeBulk Shipmanagement Ltd has established enduring partnerships with shipyards, brokers, and financiers across Europe and Asia, reinforcing its position as a credible and adaptive shipowner in a highly competitive market. The firm’s proactive fleet management and conservative financial structure have enabled it to navigate market downturns effectively, while remaining well-positioned to capitalize on recovery phases. Industry observers note that PrimeBulk Shipmanagement Ltd represents a new generation of Greek shipowners—entrepreneurial, globally minded, and strategically diversified—balancing traditional maritime values with modern operational and financial efficiency. The acquisition of the panamax bulk carrier MV Alexandra and its sister purchase not only reflect PrimeBulk Shipmanagement Ltd’s growing ambition but also its commitment to sustainable long-term growth. With a streamlined and increasingly modern fleet, Athens-based shipowner and operator PrimeBulk Shipmanagement Ltd is set to strengthen its presence across multiple dry bulk segments, consolidating its reputation as a disciplined, forward-looking participant in the international shipping market.

 

20-April-2016

Handy handymax bulk carrier builder Jiangsu Universe Shipbuilding is liquidated by the Yizheng Court. Jiangsu Universe Shipbuilding could not repay its debts and had ceased assembling bulk carriers. Shipowners Jiangsu Bang Tuo ordered some handymax bulker carriers at the Jiangsu Universe Shipbuilding but these were never delivered. Jiangsu Universe Shipbuilding was established in 2004. Jiangsu Universe Shipbuilding has three slipways and was able to build vessels of less than 100K DWT.

 

18-April-2016

Chinese state-owned ICBC Financial Leasing ordered ten (10) valemax bulk carriers. China Cosco Shipping and China Merchants Energy Shipping (CMES) both announced the long-awaited signing of 27-year contracts with Vale Mining in Brazil. These long-term exclusive contracts are behind the orders of 30 valemax bulk carriers 400K DWT.

 

16-April-2016

Oldendorff Carriers sold supramax M/V Julius Oldendorff was previously in the fleet of Paragon Shipping. 53K DWT M/V Julius Oldendorff has been sold to a Greek buyer for $4 million. Oldendorff Carriers bought the bulk carrier last December as part of a $15.5 million en-bloc deal for Paragon Shipping fleet.

 

15-April-2016

Norwegian and Japanese anchor investors were reportedly prepared to provide fresh equity into Bulk Invest, the entity that represented the remaining part of Western Bulk Shipholding (WBS) after Western Bulk Shipholding (WBS) sold its profitable Western Bulk Chartering (WBC) operation and the Western Bulk trademark to Kistefos Equity, a restructuring that effectively separated an asset-light chartering platform from the residual shipholding exposure. The dispute centres on the value and process surrounding Western Bulk Chartering (WBC), with Japanese creditors said to have been taken by surprise and left deeply aggrieved by the sale of Western Bulk Chartering (WBC) for $47 million, a level they contend significantly undervalued Western Bulk Chartering (WBC) and did not reflect what they viewed as a fair market value closer to around $100 million. Western Bulk Chartering (WBC) is widely regarded as the commercial heart of the wider Western Bulk structure, with Western Bulk Chartering (WBC) generating earnings through chartering execution, freight trading, and the management of bulk carrier employment rather than through balance-sheet-heavy ship ownership, and that profile often supports higher strategic value because cash generation is tied to market reach, relationships, and platform capability rather than asset depreciation. In practical terms, Western Bulk Chartering (WBC) operates by matching cargo demand with bulk carrier supply, structuring and managing time charters and voyages, optimising routing and employment decisions, and using a broad counterparty network to secure fixtures, manage risk, and capture trading margins across shifting market conditions, meaning that creditor concerns about valuation can be closely linked to the perceived durability of Western Bulk Chartering (WBC)’s customer relationships and the scalability of its chartering platform. Against that backdrop, market talk has suggested that Marubeni Trading, Mitsui, and Mitsubishi were willing to listen to the proposed financing solution for Bulk Invest, Itochu Shipping was said to be less receptive, and Sojiitz Shipping (Sojitsu) was described as firmly opposed throughout, reflecting differing internal assessments among creditors regarding both the sale structure and the future prospects of the remaining Western Bulk Shipholding (WBS) business once Western Bulk Chartering (WBC) had been separated. Several of the creditors have reportedly already retained lawyers in Oslo to mount legal action against Bulk Invest and Kistefos Equity Operations over what they regard as an unfair and insufficiently transparent sale process involving Western Bulk Chartering (WBC), and the legal strategy is understood to be focused on challenging how the disposal was executed and whether the transaction appropriately reflected the strategic and commercial value of Western Bulk Chartering (WBC) within the wider Western Bulk framework.

 

11-April-2016

Korean government wants Samsung Heavy Industries (SHI) to take over the Korean Development Bank (KDB) controlled Daewoo Shipbuilding Marine Engineering (DSME). Korean Development Bank (KDB) was forced to step in to rescue the struggling Daewoo Shipbuilding Marine Engineering (DSME). with a massive $3.68 billion bailout package at the end of 2015. Korean shipbuilding sector to be restructured and the number of shipbuilding giants might be cut down to one or two. For Samsung, shipbuilding is not a core activity and comprising just 3% whereas financing and electronics are over 70%.

 

8-April-2016

Last two remaining Greek shipping companies are leaving the London Stock Exchange. Goldenport Holdings and Hellenic Carriers are planning to take their publicly listed companies to private. Dry bulk shipping markets have been historical deep conditions as the main reason for their leaving. London may be a very big center for shipping services but, unfortunately, not for shipping investment like New York.

 

8-April-2016

Chamber of Shipping of America (CSA) president Kathy Metcalf explained how to tackle high labor costs on US flagships with tax breaks. US shipyards require ship owners to pay 50% extra to carry out maintenance and repair works than foreign shipyards due to high costs. Chamber of Shipping of America strongly supports the Jones Act, which requires US-built, US crewed and US-owned ships to trade between two domestic ports. Where many shipping veterans are suspicious about its sustainability.

 

7-April-2016

Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. has accelerated its fleet realignment efforts as the shipowner advances a large-scale restructuring and renewal strategy that underscores its evolving position within the global dry bulk market. The recent wave of bulk carrier divestments by Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. highlights a calculated effort to optimize its asset base, recycle older tonnage, and reinvest in younger, more efficient ships. The Chellaram family-controlled shipowner has been particularly active in recent weeks, having sold two panamax bulk carriers and now moving closer to offloading two kamsarmax bulk carriers in separate transactions that demonstrate strong demand for quality Japanese-built secondhand ships. Market sources indicate that Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. is on the verge of selling the 81,000 DWT kamsarmax bulk carrier MV Darya Lok, while a second ship of similar size, MV Darya Radhe, has also been placed on subjects. Around ten shipowners are reported to have inspected the two ships, with one sale nearly finalized at approximately $14.5 million. Although officials at KC Maritime Hong Kong Ltd. have not confirmed any transaction details, shipbrokers suggest that both ships have drawn serious interest from Greek shipowners, who are among the most active players in the mid-size bulk carrier market. If both deals proceed to completion, Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. will retain around ten ships on the water, the majority of which are less than five years old, while also maintaining a number of newbuildings under construction in Asia. Founded in 1999 as part of the Chellaram Group’s expansion into the dry bulk shipping segment, KC Maritime Hong Kong Ltd. represents the modern maritime legacy of a business lineage that dates back to the early 20th century, when the Chellaram family first established trading and shipping interests across India, Africa, and the Far East. Today, KC Maritime Hong Kong Ltd. stands as a key privately held shipowning enterprise with operational headquarters in Hong Kong and significant technical and crewing operations managed out of India. The shipowner’s fleet includes kamsarmax, panamax, and ultramax bulk carriers as well as a small number of specialized cement carriers, serving major charterers involved in the transport of coal, iron ore, fertilizer, grain, and other bulk commodities across global trade routes. Under the leadership of Gautam Chellaram, KC Maritime Hong Kong Ltd. continues to uphold the values of integrity, operational safety, and reliability that have long defined the Chellaram Group’s identity. The shipowner’s management structure combines traditional family stewardship with modern, data-driven operational oversight, emphasizing environmental compliance, crew welfare, and long-term sustainability. Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. has earned a reputation for maintaining a high-quality fleet through consistent investment in Japanese and South Korean-built tonnage, strict adherence to maintenance schedules, and collaboration with reputable ship management organizations. The shipowner’s long-standing relationships with leading charterers, banks, and technical service providers have allowed KC Maritime Hong Kong Ltd. to navigate multiple shipping cycles with resilience and consistency. As part of its future strategy, KC Maritime Hong Kong Ltd. has been actively exploring opportunities to modernize its fleet with eco-friendly designs equipped for alternative fuels, in alignment with global decarbonization goals and the International Maritime Organization’s (IMO) evolving regulatory framework. The ongoing sale of mid-aged ships, such as MV Darya Lok and MV Darya Radhe, reflects this transition toward a younger, greener, and more technologically advanced fleet. With an expanding presence across key shipping hubs and a reputation for professionalism and quality, KC Maritime Hong Kong Ltd. continues to position itself as one of the most respected privately owned dry bulk shipowners operating between Hong Kong and India. Its latest asset sales are not merely commercial decisions but part of a broader strategic shift aimed at reinforcing its long-term competitiveness and sustaining the Chellaram Group’s maritime legacy well into the next generation.

 

6-April-2016

Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. is actively reshaping its fleet as the shipowner enters one of its busiest periods in the S&P (Sale and Purchase) market. Known for its conservative investment philosophy and disciplined fleet management, KC Maritime Hong Kong Ltd. has recently intensified its asset realignment strategy, taking advantage of a favorable secondhand market and heightened demand for Japanese-built bulk carriers. Just a week after selling two panamax bulk carriers, the Chellaram family-controlled shipowner has returned to the market to divest larger and newer assets. The 81,000 DWT kamsarmax bulk carrier MV Darya Lok has reportedly been sold for approximately $14 million after an extensive bidding process that drew interest from multiple buyers. Market sources also suggest that Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. is considering the sale of another kamsarmax bulk carrier if price conditions meet its internal valuation targets. According to S&P (Sale and Purchase) brokers, the kamsarmax bulk carrier MV Darya Lok achieved nearly $8 million more than the price secured for the two 73,000 DWT panamax bulk carriers, built in the early 2000s, that were sold last week. Founded in 1999 as the dry bulk shipping arm of the Chellaram Group, KC Maritime Hong Kong Ltd. represents a continuation of the Chellaram family’s maritime legacy, which dates back to the early 20th century. The shipowner operates a fleet of kamsarmax, panamax, and ultramax bulk carriers, as well as specialized cement carriers, serving major international charterers across Asia, Europe, and the Middle East. From its twin bases in Hong Kong and India, KC Maritime Hong Kong Ltd. integrates commercial expertise from one of the world’s leading maritime hubs with the technical and crewing strength of India’s extensive seafaring network. Under the leadership of Gautam Chellaram, KC Maritime Hong Kong Ltd. has maintained a strong focus on operational excellence, environmental compliance, and long-term fleet renewal. The shipowner prioritizes safety, crew welfare, and sustainability, partnering with world-class ship managers to uphold the highest technical and operational standards. KC Maritime Hong Kong Ltd. is also committed to reducing its environmental footprint through investments in modern, fuel-efficient ships that align with IMO decarbonization goals. The shipowner’s proactive engagement in the S&P (Sale and Purchase) market reflects a strategic pivot toward younger, eco-efficient tonnage and away from aging ships nearing the end of their commercial lifespan. Industry analysts view KC Maritime Hong Kong Ltd.’s recent sales as part of a deliberate effort to strengthen its balance sheet while positioning the fleet for long-term growth amid evolving environmental regulations and freight market volatility. If all pending sales are finalized, Hong Kong and India-based shipowner and operator KC Maritime Hong Kong Ltd. will retain around ten ships on the water, most of them less than five years old, along with a series of newbuildings under construction at leading Asian shipyards. With its disciplined management approach, deep industry relationships, and family-driven leadership, KC Maritime Hong Kong Ltd. continues to stand out as one of the most respected privately owned dry bulk shipowners in Asia, combining heritage, operational reliability, and forward-looking strategy in a dynamic global shipping market.

 

6-April-2016

Scrap ship buyer GMS last year bought the 227K DWT capesize bulker M/V Beate Oldendorff for scrapping in India. GMS is now asking German Oldendorff Shipping discount on the price due to low scrap prices but Oldendorff is reluctant to renegotiate. Scrap capesize prices are currently between $235 per Light Wight Displacement Tonnage (LDT) and $240 per Light Wight Displacement Tonnage (LDT).

 

4-April-2016

Small Chinese shipyards, which sprang up at the peak of the markets like mushrooms near Pudong, Donghong, Daiiang, suffering at the rock bottom BDI. Baltic Dry Index (BDl) reached the top in 2007. Most farmers started jobs at shipyards. All shipyards are in silent and most of them bankrupted.

 

4-April-2016

Vale Ex CEO Roger Agnelli died in an airplane crash in Brazil. He worked hard to create the world’s biggest mining companies and planed Valemax bulkers 400.000 DWT. Roger Agnelli’s wife and 2 children were killed. His plane hit houses in Sao Paulo Brazil on Saturday. In 2006, Roger Agnelli largest-ever purchase for $18 billion Canadian mining outfit Inco. Inco has the world’s largest nickel reserves.

 

3-April-2016

Allianz reported that concerns increased in the number of ship losses and casualties likely be caused by the cuts made by shipowners to operating standards due to the financial difficulties. Ship maintenance has already being stretched to the longest possible intervals. Cold layups might cause further unexpected problems when vessels return to the shipping market that has moved on to new technologically. Especially seafarers might confront with many risks.

 

2-April-2016

Japanese Daiichi Chuo Kisencan can repay a fraction of its debt to creditors $1.79 million. Kurushima Dock which is a subsidy of Daiichi Chuo Kisen is also understood to be supporting the rehabilitation plan.

 

1-April-2016

The Baltic Dry Index (BDI) increased by 21 points today to reach 450, marking the largest daily rise since September 17, 2015. Notable gains were also recorded in the Baltic indices for both panamax and capesize bulk carriers, while the handysize and supramax segments remained unchanged. The period market experienced activity with two reported panamax fixtures. The capesize segment saw the most significant and rapid improvement, as the Baltic Capesize Index (BCI) surged by 75 points to reach 345 today, its highest point since January 8. Spot market rates rose across all major capesize benchmark routes, resulting in a $495 jump in the BCI’s weighted timecharter average (TCA) rate, bringing it to $3,013 per day. The most notable rate increase was seen on trans-Atlantic voyages from Gibraltar/Hamburg (C8_14), assessed at $2,660 per day today, an $815 rise from Thursday. On key iron ore routes, there were nine reported capesize fixtures departing Western Australia and only three from Brazil, influencing the direction of rate changes. The Tubarao to Qingdao (C3) route increased by $0.286 to $6.345 per ton for cargoes between 160,000 and 170,000 tons, more than doubling the gain observed on the Western Australia to Qingdao (C5) route, which rose by $0.103 to $3.332 per ton for the same volume. For panamax bulk carriers, the Baltic Panamax Index (BPI) rose by 34 points to 535 points today, driven by a high volume of spot chartering activity focused on shipments from East Coast South America and Brazil. The weighted TCA rate across four panamax benchmark routes rose by $267 to reach $4,275 per day. The most significant rise was seen on voyages from Skaw/Gibraltar to Taiwan/Japan, which were assessed today at $8,150 per day, an increase of $662. Trans-Atlantic voyages also strengthened, reaching $4,477 per day, up by $304. Athens-based shipowner and operator Angelakos (Hellas) S.A. reportedly fixed its panamax bulk carrier MV Scythia Graeca (74,133 dwt, built 2002) to Louis Dreyfus for a four- to seven-month period charter at a rate of $5,500 per day, along with a ballast bonus of $150,000. The MV Scythia Graeca is expected to deliver in Durban between April 4-7. Established in 1968, Angelakos (Hellas) S.A. has been a longstanding player in the international maritime sector, operating a fleet of dry bulk carriers and focusing on technical reliability, efficient commercial management, and sustainable operations. With its headquarters in Athens, Angelakos (Hellas) S.A. is recognized for its commitment to high standards in safety, regulatory compliance, and crew welfare, and has maintained a strong presence on global shipping routes. The fixture of MV Scythia Graeca reflects the company’s active involvement in the spot and period charter markets, as part of its broader strategy to adapt to shifting market dynamics and maintain a competitive fleet profile.