30-October-2016
WhileHong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has been steadily divesting its dry bulk holdings throughout the current year, it continues to discern potential lucrative acquisitions. Clarksons Research has identified them as the recent acquirer of the freshly commissioned kamsarmax bulk carrier MV Bavang. This brand-new kamsarmax bulk carrier MV Bavang, initially commissioned by Klaveness Bulk at the distinguished Yangzijiang Shipyard in China, fetched a price of $19.2 million. This transaction signifies Norwegian shipowner and operator Klaveness Bulk’s departure from the kamsarmax segment, subsequent to their procurement of eight such bulk carriers from the identical Chinese Shipyard merely three years prior.
30-October-2016
Nippon Yusen Kaisha (NYK) has divested a 12-year-old ore carrier to Greek shipowner and ship-manager Samos Steamship Co. Athens-based shipowner and ship-manager Samos Steamship Co. is remunerating a substantial amount, in excess of $12 million, for the 229K DWT, Namura-constructed MV G Pegasus. MV G Pegasus has been under the ownership of the Nippon Yusen Kaisha (NYK) group since its initial delivery. Nippon Yusen Kaisha (NYK) has recently indicated its intention to embark on the optimization of its dry bulk fleet by disposing of older vessels, aiming to secure more favorable time charter agreements.
26-October-2016
Shipbrokers are indicating that Transmed Maritime Ltd, an Athens-based shipowner and operator, is the likely buyer of the MV Barock, a nine-year-old post-panamax bulk carrier previously owned by Kambara Kisen. The deal for the Tsuneishi-built MV Barock is reportedly around $10.9 million. This purchase is set to expand the Transmed Maritime Ltd fleet to a total of 20 ships. Over the past six months, the company has been actively seeking Japanese-built vessels, with shipbrokers noting that it has nearly finalized deals for additional ships during this period. This recent acquisition underscores Transmed Maritime Ltd’s ongoing strategy to enhance its fleet with Japanese tonnage.
24-October-2016
SR Shipping, a dynamic bulk carrier company from Bangladesh and part of Kabir Steel, is once again in the headlines for its latest acquisition. The company is reportedly purchasing another supramax bulk carrier, this time the Oshima-built MV Falcon Trader 2. For this 54K DWT vessel, SR Shipping is investing $12 million, a figure that aligns with the current market rates. The MV Falcon Trader 2, which was initially up for sale in January at $8.5 million, reflects the increasing prices of Japanese bulker tonnage over 2016. Despite being active in the market, SR Shipping seems to negotiate effectively, often finalizing fewer deals than what shipbrokers initially report. A noteworthy aspect of this latest transaction is SR Shipping’s close relationship with the seller, Nisshin Shipping. This connection has been beneficial in the past; earlier in the year, SR Shipping acquired the slightly older MV Aston Trader II from Nisshin Shipping, later renaming it Jahan Moni. Additionally, in August, they bought a six-year-old supramax bulk carrier from Kambara Kisen, a Japanese firm, for $11.7 million, which has been renamed MV Jahan Brothers. These strategic purchases highlight SR Shipping’s focused approach to expanding and upgrading its fleet.
10-October-2016
Switzerland-based shipowner and operator Suisse-Atlantique initiates legal action against Gavilon in a dispute over cargo. Suisse-Atlantique asserts that it became entangled in a legal battle in China despite being assured by the US charterer that the quality of the dark grain was not a concern. A subsidiary of Suisse-Atlantique Navigation Maritime, an affiliate of the ship operator, has filed a lawsuit in Delaware against Gavilon. The lawsuit contends that the US agricultural company should bear responsibility for a conflict in China involving an allegedly discoloured grain shipment. Oceana Shipping, the registered owner of Suisse-Atlantique’s 999 built panamax bulk carrier 73K DWT MV Nyon, claims that it was implicated in the Chinese legal proceedings that posed a threat of arresting the panamax bulk carrier. Oceana Shipping’s legal representatives informed a US federal judge that the company has issued a LOI (letter of indemnity) amounting to $2.4 million.
6-October-2016
SR Shipping, a Bangladesh-based bulk carrier company under the Kabir Steel division, is reportedly the new owner of the supramax bulk carrier MV Ocean Paradise. This vessel, previously owned by United Ocean Group, was sold at an auction in Tokyo for $9.2 million. The sale of MV Ocean Paradise garnered significant global attention, evidenced by about 15 inspections by various shipowners in Hong Kong before its auction. Constructed nine years ago at the Tsuneishi Cebu shipyard in the Philippines, MV Ocean Paradise is the fifth vessel sold by United Ocean Group since the company declared bankruptcy at the end of the previous year. SR Shipping, which is a part of the Kabir Group in Bangladesh, has been actively acquiring secondhand supramax bulk carriers throughout the year, particularly those built in Japan, as part of its strategic fleet expansion.
6-October-2016
Winning Shipping, dry bulk shipowner and operator based in Singapore, bought cape size dry bulk carrier Japanese 2014 built 181K DWT M/V Winning Nature (ex M/V Aquarius Dream) for $28 million from MOL (Mitsui O.S.K. Lines). Dry bulk carrier owner and operator Winning Shipping also bought two weeks ago 2011 built cape size dry bulk carrier 179K DWT M/V Hanjin Matsuyama from Japanese owner Kumiai Senpaku for $22.75 million. Last month, dry bulk carrier owner and operator Winning Shipping also bought 2003 built cape size dry bulk carrier 203K DWT M/V Shin Heiryu from NYK for $10.5 million. Winning Shipping has a fleet of 21 dry bulk carriers.