24-July-2016
Chittagong-based state shipowner and operator Bangladesh Shipping Corp (BSC) is intensifying its efforts to secure enhanced governmental backing as the organisation seeks to modernise, expand, and strengthen its role within Bangladesh’s maritime and national logistics framework. The state-controlled carrier is pressing for regulatory reforms and increased financial support in order to operate more efficiently in international ship markets and to reduce the nation’s long-standing dependence on foreign-flagged ships for critical cargo movements.The government in Bangladesh is currently examining a comprehensive proposal submitted by Bangladesh Shipping Corporation (BSC), which calls for easing the procedural and legal restrictions that hinder Bangladesh Shipping Corp’s (BSC’s) ability to purchase ships from overseas. According to Bangladesh Shipping Corporation (BSC), the existing constraints embedded within the Bangladesh Shipping Corporation Act significantly slow down its procurement processes, making it difficult for the carrier to react promptly to favourable market conditions for tonnage and to secure suitable ships at competitive pricing. Bangladesh Shipping Corp (BSC) argues that without reforms, the organisation’s fleet renewal and operational effectiveness will remain limited at a time when Bangladesh’s import requirements, fuel demand, and export volumes continue to expand. Beyond regulatory updates, the state shipowner and operator Bangladesh Shipping Corp (BSC) is also advocating for a substantial increase in its financial base, requesting the government to approve a doubling of its paid-in capital. Bangladesh Shipping Corporation (BSC) maintains that a stronger capital foundation would allow it to invest more aggressively in modern ships, reduce charter dependence, enhance national shipping security, and ensure Bangladesh retains reliable access to maritime transport even during global disruptions. As a state-backed maritime entity responsible for essential cargo flows—including petroleum imports, industrial raw materials, agricultural products, and government-mandated shipments—Bangladesh Shipping Corp (BSC) emphasises that a stronger balance sheet is necessary to support long-term fleet expansion strategies and greater operational autonomy. Founded in 1972 shortly after Bangladesh gained independence, Bangladesh Shipping Corp (BSC) has evolved into a crucial pillar of the country’s transportation and economic infrastructure. Bangladesh Shipping Corp (BSC) currently controls 13 ships with an average age of around 20 years, and the organisation has increasingly prioritised fleet renewal initiatives to replace older units with more efficient and environmentally compliant ships. The ageing profile of the fleet, combined with rising maritime transport demand, has pushed Bangladesh Shipping Corp (BSC) to intensify its push for reform, financial growth, and better alignment with global industry standards.Over the past decade, Bangladesh Shipping Corp (BSC) has also focused on strengthening safety practices, improving crew training quality, modernising technical management processes, and integrating enhanced digital tools into its operations. Bangladesh Shipping Corp (BSC) plays a strategic national role by providing stability in logistics, ensuring energy security through dependable import flows, and offering the government greater resilience during periods of geopolitical tension, high freight rates, or global supply chain disruptions. As Bangladesh Shipping Corp (BSC) continues to seek legislative changes, increased financial support, and expanded access to international ship markets, the organisation aims to position itself as a larger, more capable, and more competitive maritime carrier that can protect Bangladesh’s long-term economic interests and elevate the country’s standing within regional and global shipping networks.
20-July-2016
Athens-based Byzantine Maritime Corporation (BMC) primarily operates as a ship-management company. Byzantine Maritime Corporation’s (BMC) triumph in ship-management has been founded upon delivering swift, honorable, and dependable services. Marios Stafilopatis-led Greek shipowner and operator Byzantine Maritime Corporation (BMC) fulfills all the demands and expectations of today’s shipowners while upholding a fleet of superior ships built to the highest technical standards. Byzantine Maritime Corporation’s (BMC) commitment to cost efficiency remains steadfast. Byzantine Maritime Corporation (BMC) also functions as a decentralized fleet management office based in the United States. The US office is strategically organized to oversee a number of bulk carriers owned by clients within their immediate geographic area. Athens-based Byzantine Maritime Corporation (BMC) recruits its fleet through a separate manning office based in the Philippines, which is responsible for the recruitment, training, and career development of all Athens-based Byzantine Maritime Corporation’s (BMC) seagoing personnel. Byzantine Maritime Corporation (BMC) began its operations in the early 1970s and has since maintained a medium to small-sized bulk carrier fleet, primarily serving clients in the North American grain trades. International Chartering Services, Inc. (ICS) and Byzantine Maritime Corporation (BMC) have enjoyed an exclusive client and principal relationship for over three decades, which commenced in 1976. As the exclusive shipbrokers for Byzantine Maritime Corporation (BMC), International Chartering Services, Inc. (ICS) is delighted to announce the addition of six newbuildings from the world-renowned builders IHI at Yokohama, with four (4) of them scheduled for delivery in 2008 and the remaining balance in 2010. These FUTURE 56 type bulk carriers stand as the culmination of Byzantine Maritime Corporation’s (BMC) collective operating experience over the past 30 years, during which Byzantine Maritime Corporation (BMC) has evolved from a small handy-sized operator to a diversified bulk carrier operation with handy, handymax, panamax, and capesize bulk carriers. The primary objective was to cater to the diverse needs of their cargo clients in various North American trades while also expanding into global markets, including the establishment of an operating company for fertilizer imports into Brazil, South Carrier Navigation Corp. This ambitious endeavor has resulted in a wealth of experience, directing Byzantine Maritime Corporation (BMC) towards further expansion into the suprmax bulk carriers that were ordered for delivery commencing in 2008. Presently, Byzantine Maritime Corporation (BMC) has divested all its older bulk carriers in anticipation of taking delivery of these thoughtfully designed IHI ships. New Jersey-based International Chartering Services, Inc. (ICS) is the shipbroker arm of Athens-based Byzantine Maritime Corporation (BMC).
3-July-2016
Athens-based Molaris Stamatis-led shipowner and operator Empire Bulkers Ltd. has been actively engaged in the S&P (Sale and Purchase) markets. Empire Bulkers Ltd. swiftly acquired two bulk carriers MV Argo and MV Indigo in a remarkable en bloc transaction for a mere $12.9 million. Remarkably, MV Argo and MV Indigo had exchanged ownerships in the preceding three years at substantially higher prices of $21 million and $15 million, respectively. In addition, Athens-based Molaris Stamatis-led shipowner and operator Empire Bulkers Ltd made an astute move by acquiring another efficient handysize bulk carrier MV Quinn J, at the price of $9.5 million from the esteemed New York-based shipowner Apex Marine Corp. Founded in 2009, Greek Stamatis Molaris-led Empire Navigation and Empire Bulkers (Empire Group of Companies) controls bulk carriers and tankers.
1-July-2016
Copenhagen-based dry bulk operator XO Shipping, founded in 2010 by Christian Levin and Kim Holberg Pihl, has established itself as a respected player in the bulk shipping sector. The company operates a versatile fleet focused on transporting a wide range of dry bulk commodities worldwide, leveraging its experience to deliver flexible and reliable shipping solutions. XO Shipping prioritizes high safety and environmental standards and has developed a reputation for strong client relationships and efficient operations. With the recent leadership transition, where Ejner Bonderup will step in as CEO and partner, XO Shipping is set to expand its market presence further. Kent Hedegaard, the chairman of XO Shipping’s Board of Directors, has expressed confidence that Bonderup’s industry expertise will enhance XO Shipping’s strategic positioning and operational capabilities. As the new CEO, Bonderup will be integral in driving the company’s long-term growth plans, focusing on fleet expansion and innovative shipping solutions. Christian Levin, though stepping back from day-to-day operations, will remain actively involved in shaping XO Shipping’s strategic vision as a board member. This period of leadership change at XO Shipping reflects its commitment to sustained growth and industry leadership, making the company a strong competitor in the Danish and international dry bulk markets.