28-April-2017
Two well-known dry bulk shipping brokerage companies Maersk Broker and Stratos Albis Schiffahrt established a new venture in Germany. Ane Maersk Mc-Kinney Uggla led Copenhagen based Maersk Broker Bulk Chartering recruited Jesper Bo Hansen as CEO of Maersk Broker Advisory Services.
27-April-2017
Croatian shipowner and operator Uljanik Plovidba has reduced its net loss to $2.3 million in Q1 2017. Croatian shipowner and operator Uljanik Plovidba has a fleet of 5 dry bulk carriers and 3 tankers. Low freight rates in the tanker sector impinge upon Uljanik Plovidba’s profits.
27-April-2017
New York-listed, George Economou-led DryShips bought 2014 built kamsarmax dry bulk carrier 82K DWT M/V United Ocean from United Ocean for $23 million. Previously, George Economou-led DryShips bought sistership M/V United Splendour. After recapitalization, New York-listed DryShips has been aggressively buying both tankers and dry bulk carriers so far in 2017.
27-April-2017
Oslo and Hong Kong-listed shipowner and operator Jinhui Shipping sold handysize dry bulk carrier 2012 built 38K DWT M/V Jin Yu for $15 million. After paying debts of the vessels, balance will be added to working capital. Oslo and Hong Kong-listed shipowner and operator Jinhui Shipping has 2 post-panamax and 21 supramax dry bulk carriers.
27-April-2017
Egypt based Nejem Co Marine managed 1977 built livestock carrier MV Youzar Sif H collided with Russian warship near in the Black Sea off Turkey. Russian warship sank shortly after suffering a hole in the hull.
27-April-2017
Singapore is honored as the world’s top maritime city. Singapore is followed by Hamburg, Oslo, Shanghai, and London. Singapore has a large, sophisticated shipping community, world-class services, and a solid, convenient political environment.
26-April-2017
Hunter Maritime Acquisition Corp, the acquisitive dry bulk bargain basement vehicle established by the Saverys family, has finalized an agreement with Hamburg-based shipowner and operator Oskar Wehr KG to acquire five capesize bulk carriers for approximately $140 million. These capesize bulk carriers were constructed by the Chinese shipyard New Times Shipbuilding and include MV Charlotte Selmer, MV Greta Selmer, MV Tom Selmer, MV Lene Selmer, and MV Hugo Selmer. The vessels have a combined cargo-carrying capacity of around 876,352 dwt, with an average fleet age of approximately 6.2 years. Four of the capesize bulk carriers are currently on time charter, with contracts set to expire in July 2017, August 2017, December 2017, and February 2018, respectively. As part of the acquisition, Hunter Maritime is expected to assume the time charter agreements or other existing employment arrangements upon completion of the transaction. Ambra Shipmanagement, a company affiliated with the Oskar Wehr Group, will continue to provide technical management services for the vessels, while Bocimar International, an affiliate of Hunter Maritime, will handle commercial management services for the ships. In connection with this acquisition, Hunter Maritime plans to offer the repurchase of up to 8,233,100 of its Class A common shares, with a par value of $0.0001 per share, that were initially sold in its public offering, at a purchase price of $10 per share. For the Saverys family, this five-ship acquisition provides a sense of relief, especially after narrowly missing out earlier this year on securing a deal for five larger ships at a $20 million lower price than the amount paid to Hamburg-based shipowner and operator Oskar Wehr KG. In that earlier negotiation, the Saverys were outbid by George Economou. Founded in 1945, Oskar Wehr KG is a Hamburg-based, family-owned shipping company that has evolved into a key player in the global maritime industry. Now managed by the third generation of the Wehr family, the company has built a strong reputation for excellence in ship management and fleet operations. Initially operating a diverse range of vessels, Oskar Wehr KG made a strategic shift in 2020 when it exited the containership market to focus primarily on dry bulk shipping, particularly in the supramax, handysize, and capesize segments. Oskar Wehr KG has consistently invested in modern, fuel-efficient vessels to ensure compliance with evolving environmental regulations and industry standards. Oskar Wehr KG is known for its commitment to operational efficiency, safety, and sustainability. Through long-term partnerships with global charterers and its robust technical and commercial management divisions, the company has strengthened its position in the competitive bulk shipping sector. This latest transaction with Hunter Maritime aligns with Oskar Wehr KG’s ongoing efforts to optimize its fleet and maintain a strong presence in the global shipping industry.
26-April-2017
Singapore based shipowner and operator Wilmar Shipping bought 2012 built supramax dry bulk carrier 58K DWT MV Hanjin Santana from bankrupted shipowner and operator Korean Hanjin Shipping for around $12 million.
In April 2917, Robert Kuok led Wilmar Shipping bought two (2) supramax dry bulk carriers 57K DWT MV Sea Moon and MV Sea Queen II for total $19 million from Greek shipowner and operator Hellenic Star. Hellenic Star bought each supramax dry bulk carrier for $35 million.
25-April-2017
Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping bought 2007 built handy bulk carrier 32K DWT MV SSI Spring (ex MV Campanula) for around $6.5 million. Turkish shipowner and operator Densay Shipping managing 12 dry bulk carriers with sister company Atlantis Ship Management. Tayfun Gunerhan led Turkish shipowner and operator Densay Shipping ordered two (2) new-building ultra bulk carriers at CSC Jinling Shipyard.
25-April-2017
New York-listed George Economou led DryShips bought 2 kamsarmax dry bulk carriers from Emanuele Lauro led Scorpio Bulkers. Hedge-fund manager Marc Bistricer’s Kalani Investments injecting a lot of cash to DryShips. DryShips bought 2014 built sistership kamsarmax dry bulk carriers 81K DWT M/V SBI Cakewalk and M/V SBI Charleston for $45 million. Monaco based Scorpio Bulkers has a fleet of 46 dry bulk carriers in oceans. Lastest sale of ships closes the gap between Scorpio Bulkers’ share price and NAV (Net Asset Value).
23-April-2017
US-based commodity giant Castleton Castleton Commodities and Hudson Shipping Lines (HSL) reached a settlement agreement over a pair of ultramax bulker newbuilding for $12 million. Castleton Commodities seized Hudson Shipping Lines’ $1.37 million and Judge Lynn Hughes released the money. US-based commodity giant Castleton Commodities enforced arbitration award against Chicago based Hudson Shipping Lines (HSL). Hudson Shipping Lines (HSL) breached the bareboat contract for 2016 built ultra bulk carrier 61K MV Loch Nevis and MV Loch Ness. US-based commodity giant Castleton Commodities applied London Maritime Arbitrators’ Association and win the award against Hudson Shipping Lines (HSL).
23-April-2017
Norwegian shipowner and operator Songa Bulk bought 2009 Korean built capesize dry bulk carrier 179K DWT M/V Mount Meru from Eastern Pacific Shipping for $28 million. In October 2016, Eastern Pacific Shipping bought M/V Mount Meru (ex M/V Hanjin Cape Lambert) for $19 million.
23-April-2017
Thailand based Thoresen Shipping sold 2002 built handymax dry bulk carrier 47K DWT M/V Thor Harmony to Murali Maritime for around $4 million. In 2004, Thoresen Shipping bought M/V Thor Harmony from Fairmonth Shipping for around $30 million. Thailand based Thoresen Shipping has a fleet of 19 dry bulk carriers.
22-April-2017
John Michael Radziwill led GoodBulk bought 2007 Japanese built panamax dry bulk carrier for $13 million. Norwegian OTC listed GoodBulk has a fleet of 10 dry bulk carriers. In February 2017, Norwegian OTC listed GoodBulk bought 2007 built supramax dry bulk carrier 55K DWT MV Aquakula.
21-April-2017
Russian shipowner and operator Murmansk Shipping Company (MSCO) bought 2010 built handy bulk carrier 33K DWT MV Vsevolod Beletskiy from German shipowner Oldendorff for around $5 million. Russian shipowner and operator Murmansk Shipping Company (MSCO) is planning to buy three (3) more handy dry bulk carriers. Currently, Murmansk Shipping Company (MSCO) has a total fleet of 31 vessels including 15 dry bulk carriers.
21-April-2017
Taiwanese dry bulk shipowner and operator Sincere Navigation reported a weaker profit for 2016.
21-April-2017
Greek shipowner and operator Thenamaris Ships Management is selling Korean built kamsarmax dry bulk carrier 81K DWT M/V Seatrust (ex M/V Liberty Dawn) for $22.6 million to Nikolas Martinos led New York-listed Diana Shipping. In March 2016, Greek shipowner and operator Thenamaris Ships Management bought M/V Seatrust (ex M/V Liberty Dawn) from Liberty Maritime for just $13 million. Greek giant shipowner Thenamaris Ships Management has a mixed fleet of 70 vessels. Unlike other giant shipowners who were forced to sell ships during the downturn of the dry bulk market, Diana Shipping bought 31 ships for $1 billion.
20-April-2017
Monaco based and New York-listed Scorpio Bulkers reported a loss of $34.6 million for Q1 2017. Scorpio Bulkers reported an adjusted loss of $0.23 per share was below what Wall Street analysts had anticipated a $0.25 loss per share. Scorpio Bulkers is selling panamax dry bulk carrier 2014 built sister ships 81K DWT M/V SBI Cakewalk and M/V SBI Charleston for $45 million. Monaco based and New York-listed Scorpio Bulkers has 46 dry bulk carriers in the fleet.
20-April-2017
New York-based investment bank Stifel Financial Corp. alerts about the latest dry bulk market rise. The dry bulk market has recovered sooner than anticipated. Dry bulk carriers secondhand prices approximating newbuilding prices. Therefore, shipowners will unavoidably start ordering new vessels.
20-April-2017
Dry bulk shipowner and operator Winning Shipping bought a 2007 Japanese built capesize dry bulk carrier 180K DWT M/V Yuritamou for $23 million from Japanese shipowner Doun Kisen. Dry bulk shipowner and operator Winning Shipping is one of the great capesize shipowners with a fleet of 31 dry bulk carriers.
19-April-2017
Turkish shipowner and operator Densay Shipping is growing the company’s fleet into the smaller-ship segment by buying a handysize bulk carrier. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping acquired 2007 built handysize bulk carrier 32K DWT MV SSI Spring (ex MV Campanula) for around $6.5 million. MV SSI Spring (ex MV Campanula) is in line with the constant stream of bulk carrier additions that the Densay Shipping has clocked up over the past year.
18-April-2017
German dry bulk shipowner and operator Oldendorff Carriers and Indian charterer Uttam Galva agreed on a legal battle over cargo damage. Oldendorff Carriers and Indian charterer Uttam Galva reached an amicable resolution for steel coils cargo damage on 2011 built handy bulk carrier 34K DWT MV AS Elenia en route to India. Indian charterer Uttam Galva was asking $1.2 million cargo damage. MV AS Elenia is managed by German Nordic Hamburg Shipmanagement.
18-April-2017
Jacques de Chateauvieux led Setaf Saget has sold 2010 built supramax dry bulk carriers 58K DWT MV JS Bandol and MV JS Pomerol for total $24 million.
17-April-2017
Ship operator Crystal Sea Shipping chartered in 2012 built panamax dry bulk carrier 82K MV Velsheda for $10,500 per day for a year.
17-April-2017
New York-listed Navios Maritime Holdings sister company Navios Partners’ 2004 built panamax dry bulk carrier 76K DWT M/V Navios Orbiter suffered a small fire on board which was quickly extinguished, with no injuries reported with the assistance of English Immingham Port Authorities. At the time of the incident 19 crew members on board of M/V Navios Orbiter.
17-April-2017
Capesize dry bulk carrier 2014 built 186K DWT M/V Cape America chartered out to Rio Tinto for $17,000 per day for 2 years period.
17-April-2017
Italian shipowner and operator RBD Armatori sold three (3) panamax bulk carriers: 1999 built 75K DWT MV Giovanni Battista Bottiglieri, 1999 built 75K DWT MB Grazia Bottiglieri, and 2001 built 75K DWT MV Orsolina Bottiglieri.
is sold to Tianjin Dongjiang Shipping Co for $4.37 million. 1999 built 75K DWT M/B Grazia Bottiglieri is sold for $5.1 million for further trading. 2001 built 75K DWT M/V Orsolina Bottiglieri is sold to Ausbulk Pte for $6.5 million.
17-April-2017
2015 built panamax dry bulk carrier 81K DWT MV Key Opushas saved the life of a Polish yachtsman on the coast of New Zealand. MV Key Opushas ballasted two (2) days under severe weather conditions and saved the life of yachtsman en-route to Chile.
17-April-2017
Singapore became an LNG-capable bunkering port that will serve truck-to-ship LNG bunkering to ships. Singapore commenced the LNG Truck filling equipment at the SLNG Terminal.
17-April-2017
One of the world’s biggest shipbuilder Korean DSME Daewoo Shipbuilding & Marine Engineering’s debt restructuring plan is accepted by National Pension Service (NPS). Korean National Pension Service (NPS) will keep the struggling giant shipbuilder afloat and discuss ways to keep the shipyard with a $2.6 billion rescue package backed by Korea Development Bank and Export-Import Bank of Korea (Kexim).
16-April-2017
US investment bank JP Morgan’s shipping arm Global Maritime bought 11 dry bulk carriers since November 2017 and now ordered 12 capesize and newcastlemax dry bulk carriers in Far East Shipyards for $500 million. Each capesize dry bulk carrier will cost $45 million and will be delivered in 2019. US investment bank JP Morgan’s shipping arm Global Maritime works closely with Athens based Livanos Group. JP Morgan analyst Noah Parquette predicts freight rates will strengthen in 2018.
16-April-2017
Hong Kong-listed shipowner and operator Pacific Basin Shipping’s fleet number increased to 100 dry bulk carriers after the latest acquisition of 2010 built handy bulk carrier 31K M/V Ocean Harmony for about $9.4 million from the United Ocean Shipping. Even though the sudden jump in BDI (Baltic Dry Index), the dry bulk market has not been sustained a balance between supply and demand. In Q1 2017, Chinese economic and industrial activity has been slowly increasing.
16-April-2017
Chinese conglomerate shipowner and operator HNA Group offered $1 billion to take over Singapore based logistics company CWT. Furthermore, HNA Group also offered $775 million to acquire majority stake in Glencore’s PPSL business.
15-April-2017
Athens-based and New York-listed Navios Maritime Holdings CEO Angeliki Frangou has bought $10 million stocks of her own company i.e 32.7 million shares equals 26.9% stake of Navios Maritime Holdings. Navios Maritime Holdings has 42 vessels in fleet and CEO Angeliki Frangou’s stake is worth almost $60 million.
13-April-2017
One of the oldest Greek shipping company and Pateras family-owned Aegeus Shipping sold 1995 built handymax dry bulk carrier 44K DWT (ex MV United Purpose) for around $3 million.
Pateras family-owned Aegeus Shipping bought MV United Stars (ex MV United Purpose) for around $13 million in 2003. Aegeus Shipping controlled MV United Stars (ex MV United Purpose) during boom years in the dry bulk market. Aegeus Shipping has left with 2006 built supramax dry bulk carrier 53K DWT MV Marine Stars. After the sale of MV Marine Stars, Aegeus Shipping will be controlling no vessels.
13-April-2017
Athens-based Aims Shipping Corporation acquired 2005 built panamax dry bulk carrier 76K DWT MV Tramp Lady (ex MV Red Gardenia) for around $7 million. Aims Shipping Corporation acquired the panamax bulk carrier just before secondhand panamax bulk carrier price tags increased. Currently, MV Tramp Lady (ex MV Red Gardenia) has a price tag of more than $10 million. Athens-based Aims Shipping Corporation was established by Stefanos Pesmazoglou and Michael Stasinopoulos in 2011. In July 2016, Athens-based Aims Shipping Corporation bought a 2004 built panamax dry bulk carrier 76K DWT MV Aqua lady (ex MV Mulberry Paris) for around $5.5 million. Currently, Aims Shipping Corporation has a fleet of seven (7) bulk carriers.
13-April-2017
Greek tycoon George Economou led New York-listed DryShips bought 2014 built kamsarmax dry bulk carrier 81K DWT M/V United Ocean from United Ocean Group for $22 million. United Ocean Group also sold another 2012 built kamsaramax dry bulk carrier 82K DWT M/V United Galaxy for $21 million. United Ocean Group also trying to sell 2012 built 81K DWT M/V Oshima Island and 2014 built 82K DWT M/V United Splendour.
13-April-2017
Idan Ofer led Singapore based shipowner and operator Eastern Pacific Shipping made a quick profit on a capesize dry bulk carrier which was bought for $18 million in November 2016 and sold for $28 million. Eastern Pacific Shipping bought capesize dry bulk carrier 2009 built 179K DWT MV Mount Meru (ex MV Hanjin Cape Lambert) for just $18 million in November 2016 from bankrupted Hanjin Shipping. Now, Eastern Pacific Shipping sold the ship to Arne Blystad’s Songa Bulk for $28 million. Singapore based shipowner and operator Eastern Pacific Shipping has a fleet of 80 ships.
13-April-2017
Athens-based shipowner and operator JME Navigation S.A. has placed another order with China’s New Dayang Shipbuilding for a new ultramax bulk carrier, reaffirming its commitment to long-term fleet expansion and modernization in the dry bulk market. The latest order continues a consistent newbuilding strategy that Greek shipowner and operator JME Navigation S.A. has been pursuing over the past two years as part of its broader plan to strengthen its position among Greece’s established mid-sized shipowners. The new ultramax bulk carrier will be constructed by Jiangsu-based New Dayang Shipbuilding, a major shipyard under the state-owned Sumec Group, one of China’s leading industrial and machinery conglomerates. The order covers one Crown 63 ultramax bulk carrier, a high-efficiency design that meets the latest International Maritime Organization (IMO) Energy Efficiency Existing Ship Index (EEXI) and NOx Tier III standards. The Crown 63 class is widely recognized for its operational versatility, robust cargo capacity, and fuel-saving hull form optimized for global trading routes. While neither the price nor the delivery date has been revealed, Sale and Purchase (S&P) shipbrokers currently estimate the market value of similar ultramax newbuildings at approximately $33.5 million per ship, placing this latest deal within that price range. This new contract marks yet another chapter in the enduring collaboration between JME Navigation S.A. and New Dayang Shipbuilding—a relationship that extends back to the mid-2010s. During that period, JME Navigation S.A. took delivery of three bulk carriers built at New Ocean Shipbuilding, the predecessor of New Dayang Shipbuilding. Following the shipyard’s restructuring under the Sumec Group in 2018, the Greek shipowner and operator re-established its partnership, placing multiple newbuilding orders in 2023 and 2024 for Crown 63 Plus ultramax bulk carriers. Two of those ultramax ships have already been delivered successfully, while a third is scheduled for delivery in 2027. The consistency of this relationship reflects the strong trust and mutual confidence built between the two parties, with JME Navigation S.A. increasingly relying on New Dayang Shipbuilding’s production quality, technical reliability, and timely delivery record. JME Navigation S.A., headquartered in Athens, is a privately owned and operated shipping enterprise with a deep-rooted presence in the Greek maritime industry. The shipowner and operator has developed a diverse fleet that spans the handymax, supramax, and ultramax segments, enabling it to transport a wide range of dry bulk cargoes including coal, fertilizers, grains, steel products, and minerals. Over the years, JME Navigation S.A. has built a strong reputation for operational prudence, disciplined capital management, and adherence to high technical standards. Its management philosophy combines traditional Greek shipping principles—personal oversight, family ownership, and long-term relationships—with modern practices in digital fleet monitoring, emissions control, and commercial risk management. Currently, JME Navigation S.A. operates six dry bulk carriers, managing a well-balanced fleet profile that allows for both flexibility and global reach. One 2013-built ultramax bulk carrier has been agreed for sale as part of the company’s ongoing asset rotation and portfolio optimization plan, while two newbuildings remain on order. These pending deliveries are expected to further modernize the shipowner and operator’s fleet, reducing average ship age and improving fuel efficiency metrics in line with the industry’s ongoing transition toward decarbonization. JME Navigation S.A. places a strong emphasis on maintaining an environmentally compliant and operationally advanced fleet. Its decision to invest in the Crown 63 and Crown 63 Plus ultramax bulk carriers is consistent with its objective of achieving both cost efficiency and regulatory readiness. Each of these ships incorporates modern hull designs, optimized propeller systems, and energy-saving devices that minimize bunker consumption while enhancing cargo intake. This approach ensures JME Navigation S.A. remains competitive in both long-haul and regional bulk trades, particularly as charterers increasingly favor shipowners with fuel-efficient and eco-compliant tonnage. In recent years, JME Navigation S.A. has also distinguished itself for its strategic approach to the timing of acquisitions and sales. The shipowner and operator’s transactions are guided by an acute awareness of shipping market cycles and asset value trends. Its return to newbuild ordering, after years of cautious investment, underscores its confidence in the mid-term fundamentals of the dry bulk sector, particularly the ultramax segment, which has seen steady demand growth driven by global agricultural and mineral trades. The management team at JME Navigation S.A. consists of seasoned Greek maritime professionals with extensive backgrounds in ship management, chartering, and technical operations. This expertise enables the shipowner and operator to maintain a hands-on approach to its fleet, ensuring consistent performance standards, low off-hire rates, and long-standing relationships with major charterers, brokers, and financial partners. Its collaborative relationships with classification societies and marine service providers have contributed to the reliability and safety of its fleet operations worldwide. By continuing to build new ultramax bulk carriers at New Dayang Shipbuilding, JME Navigation S.A. not only expands its fleet but also reinforces its strategic alignment with Asian shipbuilding capacity—a key competitive factor for shipowners seeking modern and cost-efficient tonnage. New Dayang Shipbuilding, with an orderbook exceeding 100 ships and having delivered 147 ultramax bulk carriers to date, stands among China’s most active shipyards, recognized for its technical precision and on-time delivery. The continued expansion of JME Navigation S.A. exemplifies the broader growth trajectory of Greek-controlled mid-sized dry bulk shipping. As one of the newer-generation Greek shipowners, JME Navigation S.A. combines traditional maritime values with modern asset management, digital operational tools, and sustainability-focused fleet renewal. The shipowner and operator’s current focus on expanding its ultramax fleet reflects a long-term vision of operational stability, market adaptability, and environmentally responsible growth. Through its deliberate investment choices, partnerships with reputable shipyards such as New Dayang Shipbuilding, and a fleet built around efficiency and versatility, JME Navigation S.A. has established itself as a resilient and forward-thinking player within the global dry bulk shipping landscape. Its ongoing expansion not only underscores its ambitions for sustainable growth but also strengthens its reputation as a trusted and performance-driven shipowner rooted in Greece’s world-leading maritime tradition.
Athens-based shipowner and operator JME Navigation S.A. has expanded its presence in the global dry bulk shipping market with the recent acquisition of the 2012-built handy bulk carrier 34K DWT M/V Mother M. (formerly M/V Intrepid Harvester) for a reported price of approximately $9.8 million. The acquisition was concluded with USA-based shipowner and operator Intrepid Shipping, further demonstrating JME Navigation S.A.’s active role in pursuing modern and commercially flexible tonnage to strengthen its fleet portfolio. This purchase marks another strategic step for the Greek shipowner and operator as it seeks to optimize fleet composition and enhance operational efficiency across multiple dry bulk carrier segments. JME Navigation S.A., headquartered in Athens, Greece, is a privately held shipping enterprise with a long-standing presence in the dry bulk sector, primarily focusing on the ownership, management, and operation of modern bulk carriers engaged in the global transportation of essential commodities such as grains, coal, fertilizers, steel products, and minerals. The shipowner and operator has built a reputation for prudent asset management, operational discipline, and a strong emphasis on technical reliability and environmental compliance. The acquisition of M/V Mother M. reinforces JME Navigation S.A.’s commitment to maintaining a fleet that balances market exposure with efficient ship performance, ensuring flexibility to adapt to changing freight rate environments. The current operating fleet of JME Navigation S.A. includes the supramax dry bulk carrier 58K DWT M/V Marigoula and the ultramax dry bulk carrier 63K DWT M/V Zoitsa Sigala, both of which serve major global trade routes and are employed under competitive time charter and spot market arrangements. These modern bulk carriers are equipped with fuel-efficient machinery and environmentally compliant systems designed to meet the International Maritime Organization’s (IMO) Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) requirements. This strategic focus on compliance and performance optimization highlights JME Navigation S.A.’s forward-looking approach to sustainable operations and regulatory preparedness. The acquisition of the 34K DWT M/V Mother M. reflects JME Navigation S.A.’s interest in expanding its exposure to the handy bulk carrier segment, a market known for its versatility in servicing smaller ports and diversified trade routes. Handy bulk carriers such as M/V Mother M. are particularly well-suited for niche regional trades and multipurpose cargoes, allowing JME Navigation S.A. to diversify its chartering opportunities while maintaining efficient fleet deployment across varying cargo types and geographical zones. JME Navigation S.A. has consistently demonstrated an ability to adapt to shifting global market dynamics through timely sale and purchase transactions. In February 2016, the Greek shipowner and operator took a decisive step in its fleet renewal program by sending the 1996-built handymax dry bulk carrier 41K DWT M/V Eirini K to demolition. This move underscored JME Navigation S.A.’s commitment to upgrading its fleet by phasing out older, less efficient tonnage and replacing it with younger, more economical ships. By doing so, the shipowner and operator has successfully positioned itself among the agile and forward-thinking mid-sized players in the Greek maritime industry. In recent years, JME Navigation S.A. has placed considerable emphasis on maintaining high operational standards, technical reliability, and safety performance through close collaboration with classification societies and leading maritime service providers. Its technical management practices emphasize preventive maintenance, energy efficiency, and the adoption of modern digital monitoring systems that enhance voyage optimization and fuel consumption control. JME Navigation S.A. ’s operations are supported by a dedicated team of maritime professionals with extensive experience in ship management, chartering, and commercial operations, enabling it to sustain long-term relationships with charterers, cargo traders, and shipbrokers across Europe and Asia. JME Navigation S.A.’s fleet development strategy aligns with the broader trend among Greek shipowners toward investing in mid-sized and fuel-efficient bulk carriers that combine operational flexibility with commercial resilience. By focusing on handy, supramax, and ultramax segments, the shipowner and operator ensures coverage across multiple dry bulk cargo routes while mitigating exposure to volatility in any single market segment. The Greek shipping market, historically renowned for its entrepreneurial spirit and dominance in global tonnage, continues to serve as a foundation for JME Navigation S.A.’s success. The Athens-based shipowner and operator leverages its local expertise, financial discipline, and strong relationships within the global maritime network to identify acquisition opportunities like the purchase of M/V Mother M. at favorable market levels. With the dry bulk market showing signs of recovery and sustained demand for raw materials and agricultural products, JME Navigation S.A. remains well-positioned to capture growth opportunities through strategic fleet deployment and prudent capital management. Through its combination of experienced leadership, operational excellence, and a clear focus on modern, efficient bulk carriers, JME Navigation S.A. continues to solidify its reputation as a reliable and competitive player in the international dry bulk shipping sector. The acquisition of M/V Mother M. marks another milestone in its ongoing effort to enhance fleet value and maintain a balanced portfolio that reflects both market opportunity and long-term sustainability.
13-April-2017
Greek ship-management company Lydia Mar Shipping which is the sister company of German Aug Bolten bought 2002 handysize dry bulk carrier 31K DWT M/V Dem Fiven (ex M/V Giza I) from compatriot AM Nomikos for $5.3 million. Greek ship-management company Lydia Mar Shipping is offering chartering, technical and crew management services to its own fleet and third parties.
13-April-2017
2013 built small coaster size dry bulk carrier 3K DWT MV Star 62 destroyed three (3) houses along the Cha River in Thailand due to steering system malfunction. Vietnamese M/V Star 62 is operated by Hung Hung Trade & Transport.
13-April-2017
The first license is granted to export Indonesian nickel ore cargo. Aneka Tambang is granted a license to export up to 12 million tons of nickel ore in 2017. Due to liquefaction, 81 seafarers lost their lives between 2010-2013 while shipping nickel ore from Indonesia to China. Indonesian nickel ore is the world’s most dangerous cargo to ship however there is robust demand from China.
13-April-2017
Hong Kong-based shipowner and operator Wah Kwong Maritime Transport Holdings Limited chartered out cape size dry bulk carrier 2011 built 176K DWT M/V Cape Asia for one year at $15,900 per day to mining giant Rio Tinto. Capesize dry bulk carriers average $12,000 per day in 2017. 22% of softening Chinese steel prices has a significant effect on the dry bulk market. Hong Kong-based shipowner and operator Wah Kwong Maritime Transport Holdings Limited has 24 dry bulk carriers and tankers in the fleet.
12-April-2017
Clarksons Research Services is predicting seaborn growth in the dry bulk market in 2017. Clarksons Research Services MD Steve Gordonforecasts growth in dry bulk will be 3.5% in 2017. Clarksons Research Services MD Steve Gordon estimates that the dry bulk market will move away from the ‘bottom’ of the cycle in 2017. Shipyards supply increased to 100 million DWT, but shop deliveries are forecast to slow through 2018.
12-April-2017
Greek tycoon George Economou-led New York-listed shipowner and operator DryShips chartered out 4 newcastlemax dry bulk carriers:
- MV Valley Star
- MV Moritz Oldendorff
- MV Super Star
- MV Wish Star
12-April-2017
New York-based analyst Seaport Global Securities lifts target for Scorpio Bulkers stock 23.7% premium placed a $12 price target per share. Currently, New York-listed Scorpio Bulkers stock closing price $9.70 because of strength in secondhand values and rising dry bulk market last month. Seaport Global Securities has a buy rating on Scorpio Bulkers SALT. Also, JP Morgan lifted the price target to $13 on Scorpio Bulkers’ shares.
12-April-2017
Greek George Feidakis-backed shipowner and operator Globus Maritime signed a settlement with moneylenders DVB Bank and HSH Nordbank. After loan improvements, Greek Globus Maritime decreased its working capital deficit to $9 million. Globus Maritime's fleet has been managed by subsidiary Globus Shipmanagement Corp. in Greece.
12-April-2017
Ohio based US-flag lake-fitted bulk ship operator Interlake Steamship installed exhaust gas scrubbers on bulk carriers in order to comply with IMO 2020 low sulfur 0.5% provisions in January 2020. Exhaust gas scrubber is installed on 1977 built lake-fitted bulk carrier 61K DWT MV Mesabi Miner and 1981 built 69K DWT Paul Tregurtha.
12-April-2017
New York-listed Navios Group’s technical manager Navios Ship Management signed an LOI (Letter of Intent) with DuPont for improved exhaust gas scrubbers for upcoming sulfur emission limits. Angeliki Frangou-led Navios Group is almost operating 163 mixed fleet. IMO 0.5% sulphur deadline is 2020 from the current 3.5% sulphur limit.
12-April-2017
USA based shipowner and operator Pangaea Logistics Solutions has great subsidiaries such as:
- Phoenix Bulk Carriers
- Nordic Bulk Carriers
- Americas Bulk Transport
- Seamar
12-April-2017
Indonesian shipowner and operator Samudera Shipping intends to dispose of 6 uneconomical vintage ships. Samudera Shipping’s earnings dropped to $260 million due to bankrupted Korean shipowner Hanjin Shipping. Currently, Samudera Shipping has a fleet of 37 container ships, tankers, and bulker carriers.
12-April-2017
Turkish shipowner and operator Glamour Maritime’s arrested 1985 built handysize bulk carrier 34K DWT MV Infinity will go to public auction in India. Glamour Maritime’s bulk carrier was arrested by mortgager ING Bank and bunker supplier OW Bunker.
12-April-2017
Chinese Communist Government ordered coal traders to reject North Korean fully laden ships to discharge in Chinese ports after North Korea tested missiles. Chinese Communist Government distributed official orders to coal traders to block coal from North Korea.
12-April-2017
Ohio USA based Interlake Steamship outfitted exhaust gas scrubbers to fit IMO low sulphur 0.5% conditions in January 2020. Exhaust gas scrubbers installed on 1977 built laker ship 61K DWT MV Mesabi Miner and 1981 built 69K DWT Paul Tregurtha.
12-April-2017
Singapore listed Rickmers Maritime Trust (RMT) will not be able to cope with challenging market conditions and the company will be terminated. Rickmers Maritime Trust (RMT) can not deal with moneylenders to restructure its debt. Moreover, Rickmers Maritime Trust (RMT) can not raise new equity to resume its services.
11-April-2017
Far Eastern and Chinese shipyards have received a lot of dry bulk carrier new-building inquiries from shipowners and investors. After BDI Baltic Dry Index spark last week, there is improving sentiment in the dry bulk market. Greek shipowners and operators Alpha Bulkers, Angelakos Hellas, Primerose, and Chartworld are among many shipowners who are exploring newbuilding dry bulk projects in the Far East and China. Chinese shipowner and operator Seacon Ship Management and Bank of Communications Financial Leasing Co (BCLC) also looking for bulk carriers. Steep climb in prices of secondhand bulk carrier values is encouraging shipowners and investors to ask to Chinese shipyards. Dry bulk market is recovering from deep bottoms. Recently, high-quality dry bulk carriers are barely available on the market.
11-April-2017
Shipping tycoon John Fredriksen desires to move his companies out of Norway to more competitive shipping hubs such as Cyprus and Singapore. John Fredriksen prepares to move Frontline Management, Golden Ocean Management, and Ship Finance Management out of Norway. John Fredriksen discussed the complexities of hiring appropriate expertise in Norway. Additionally, John Fredriksen remarked that the London housing market has been unconditionally over-priced.
11-April-2017
Danish shipowner and operator J Lauritzen’s main shareholder injecting $80 million in order to meet a bond payment late 2017. CEO Mads Peter Zacho mentioned that $80 million will significantly strengthen J Lauritzen’s balance sheet and reduce financing costs. Danish shipowner and operator J Lauritzen also pushed back loans that are maturing to due dates in 2021. J Lauritzen total debts are $250 million.
10-April-2017
The leadership team at Clarksons witnessed a modest bonus allocation following the diminished profits in 2016. Andi Case, Jeff Woyda, and Peter Anker, eminent managers of the London Stock Exchange-listed Clarksons, garnered reduced bonuses that year. Clarksons reported a profit margin of a mere £44 million in 2016. Despite this, Clarksons’ shares on the London Stock Exchange experienced a surge of 2.13%, standing at £27.37, yet not reaching the zenith of £30.23 per share established on March 24, 2017. The prevailing stringent macro-economic climate continues in 2017; however, imminent strides in the shipping sector promise to bolster the fortunes of shipbroking firms.
10-April-2017
Greek tycoon George Economou led shipowner and operator DryShips has extended a loan to from 3 to 5 years. Revolving credit facility switched from secured to unsecured with interest LIBOR plus 650 bps. Furthermore, Toronto real-estate magnate Marc Bistricer’s company Kalani Investments provided funds to Greek DryShips.
10-April-2017
New York-listed Navios Maritime Holdings sister company Greek tycoon Angeliki Frangou-led Navios Maritime Partners bought 2007 Korea built two panamax dry bulk carriers 75K DWT M/V Imperial and 74K DWT M/V Libertas for a total $27 million from Croatian shipowner and operator Atlantska Plovidba. It seems like opportunistic times to invest in dry bulk carriers at this level. Croatian shipowner and operator Atlantska Plovidba has 11 dry bulk carriers.
10-April-2017
Till February 2018, Panama Canal Authority booked more than 60 LNG ships from the enlarged Panama canal. Since the new Panama Canal opening in 2016, more than 100 LNG ships passed.
10-April-2017
CEO Herman Billungled shipowner and operator Songa Bulk is trying to enter capesize market. Arne Blystad’s Songa Bulk will try to beyond supramax dry bulk carrier market. CEO Herman Billung was formerly managing John Fredriksen’s Golden Ocean Group and joined Songa Bulk. Songa Bulk is interested in buying capesize dry bulk carrier 2012 built 180K DWT M/V Pacific Canopus for $28.5 million. Last month, Pacific International Lines (PIL) sold sistership capesize dry bulk carrier M/V Pacific Capella for $27 million. Currently, CEO Herman Billungled shipowner and operator Songa Bulk has 9 dry bulk carriers in the fleet.
9-April-2017
C Transport Maritime (CTM) bought 2007 built panamax dry bulk carrier 75K DWT M/V Bariloche for $13.8 million. In 2016, John Michael Radziwill controlled C Transport Maritime (CTM) bought 2005 built capesize dry bulk carrier 177K DWT M/V Bulk Singapore for $12.5 million which is cheaper than current $17 million market value. In March 2017, C Transport Maritime (CTM) bought 2007 built supramax dry bulk carrier 55K M/V Admiral Schmidt and continues to stockpile second-hand tonnage.
9-April-2017
Gary Lawrence appointed as the chartering manager of Clipper Bulk USA instead of quitting chartering manager Jesper Christensen. Jesper Christensen is appointed by New York-listed Genco Shipping & Trading as Vice President (VP). Copenhagen based Clipper Bulk is a ship operator in the dry bulk handysize segment.
9-April-2017
JP Morgan analysts commented about the latest dry bulk index recovery and says dry cargo recovery is real. According to JP Morgan analysts, dry bulk rates will increase and strengthen. JP Morgan analysts commented that new sulfur emissions regulations arriving in three years’ time and a major slice of the fleet hitting scrap age early in the next decade as providing dry bulk significant tailwinds in the 2020s. JP Morgan upgraded New York-listed Diana Shipping and Golden Ocean to overweight. JP Morgan analysts mentioned that Diana Shipping is still undervalued.
9-April-2017
New York-listed Eagle Bulk Shipping (EGLE) raised equity $750 million shelf registration. Gary Vogel-led shipowner and operator Eagle Bulk Shipping logged the securities filing at the same time as two major shareholders registered to sell shares. These share sales will go towards “vessel acquisitions, capital expenditures, repayment of indebtedness, working capital, and general corporate purposes”. New York-listed Eagle Bulk Shipping shares are held by Oaktree Capital Management and GoldenTree Asset Management, 31% and 15% respectively.
9-April-2017
On 8 April 2017, Oldstone Ship Management’s 1999 built handysize dry bulk carrier 35K DWT MV OS 35 was attacked by pirates off Somalia. M/V OS 35 was en-route to Aden from Malaysia. Pirates had obviously escaped before the navy operation.
9-April-2017
German Federal Bureau of Marine Casualty Investigation (BSU) remarked that in December 2015, MV BBC Maple Lea grounded Lake Saint-Louis, Canada due to speed. After grounding, 2007 built 12K DWT MV BBC Maple Lea refloated the next day. Inspectors indicted excessive speed caused the incident.
9-April-2017
International Maritime Organization (IMO) adopted the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (Hong Kong Convention) is signed by Turkey. This moves the Hong Kong Convention a bit closer towards entering into force. Turkey’s ratification is unlikely to shift local shipbreakers’ focus away from complying with a separate set of rules adopted by the European Union (EU). EU-flagged ships have been Turkey’s main source of scrapping business. Other maritime nations signed and ratified Hong Kong Convention are Panama, Norway, France, Belgium, and Congo. According to the International Maritime Organization (IMO) at least 15 countries must ratify the Hong Kong Convention before it can enter into force. Shipbreakers in Turkey craves to captivate EU-flagged tonnage as a green ship demolition destination.
4-April-2017
Clarksons Platou Securities’ Analysts inspected New York-listed and lately restructured Genco Shipping & Trading with a “buy” rating on the stock. According to analysts New York-listed and lately restructured Genco Shipping & Trading $17 per share target price is well-placed to benefit from rising dry bulk carrier market. Shipping analysts marked that trade at a discount relative to Net Asset Value. Clarksons Platou Securities’ Analysts estimates that Net Income of Genco Shipping will rise to $74 million in 2019.
4-April-2017
New York-listed Star Bulk Carriers’ stock was the best performer in Q1 2017 among other quoted bulk carrier shipowners. Greek Petros Pappas led Star Bulk Carriers’ stock has increased 1.5 times in Q1 2017. After Star Bulk Carriers’ stocks, Safe Bulkers and Scorpio Bulker respectively second and third position.
3-April-2017
Hong Kong and South Korean shipowner and operator Cido Shipping has elegantly finalized the sale of two sub-3,000 TEU container ships to Istanbul-based Arkas Shipping. Arkas Shipping is reputed to be disbursing an exquisite sum of $9.5m for each of these twin container ships, christened MV Maersk Jubail and MV Maersk Jaipur. Constructed meticulously at Hyundai Mipo nearly a decade ago, each ship boasts a capacity of 2,824 TEU. Earlier in January, Arkas Shipping, a prominent intra-Mediterranean operator, commissioned the crafting of four 3,100 TEU container ships in China, slated for delivery within the forthcoming year.
3-April-2017
New York-listed shipowner and operator Eagle Bulk Shipping (EGLE) will exit from the handymax sector and focused on supramaxes and ultramaxes. Gary Vogel-led shipowner and operator Eagle Bulk Shipping is closing in on debt financing for 9 dry bulk carriers deal for $153 million with Greenship Bulk Trust. Currently, New York-listed shipowner and operator Eagle Bulk Shipping has a fleet of 50 supramax and ultramax dry bulk carriers in oceans and growing its fleet.
3-April-2017
Restructured South Korean shipowner and operator (previously STX Pan Ocean) Pan Ocean has reported net earnings of $83 million in 2016 comparing to $34 million in 2015. STX Pan Ocean was taken over by the Korean Harim Group in May 2015. Furthermore, after restructuring the Pan Ocean process, Pan Ocean bought dry bulk carriers from former Hanjin Shipping for $42 million in total. Pan Ocean has also ordered seven (7) newbuilding bulk carriers at Singapore-listed Yangzijiang Shipbuilding.
3-April-2017
Greek tycoon George Economou led Cardiff Marine bought kamsarmax newbuilding 81K DWT MV BSI Lennox from Berkeley Shipping for around $26 million. MV BSI Lenno will be delivered in June 2017 from Hudong Zhonghua Shipbuilding. In December 2016, Malta-based Berkeley Shipping sold the sistership MV BSI Cadogan for around $20 million.
3-April-2017
Arne Blystad-led Songa Bulk bought a kamsaramax and ultramax for $43.35 million. After the delivery of the latest dry bulk carriers Songa Bulk fleet will be compromised of 9 ships. Up to now, Arne Blystad-led Songa Bulk accomplished all its transactions cash basis but Songa Bulk is now considering shareholders through asset sales or dividends.
2-April-2017
Cargill Ocean Transportation chartered in 2016 built capesize dry bulk carrier 179K DWT M/V Anangel Brilliance from Greek shipowner and operator Anangel Maritime for one year for $19K per day. Greek shipowner and operator Anangel Maritime bought the capesize dry bulk carrier M/V Anangel Brilliance from Scorpio Bulkers in 2015 for $44 million.
2-April-2017
Greek shipowner and operator Chartworld Shipping Corporation signed a contract for 4 newbuilding kamsarmax dry bulk carriers at Chinese Shipyard Yangzijiang Shipbuilding for $23 million per kamsarmax dry bulk carrier. After Chartworld Shipping contracts Chinese Shipyard Yangzijiang Shipbuilding increased the price tag of kamsarmax dry carriers $1.5 million per ship. Positive sentiment is all across the dry bulk market pushing shipowners to order new ships. Greek shipowner and operator Chartworld Shipping Corporation has a mixed fleet of bulk carriers and tankers total of 60 ships.
2-April-2017
Taiwanese shipowner and operator Eddie Steamship is ready to rebuild its fleet with canceled tonnage at Fareast Shipyards. CEO Xu Zhijian announced Eddie Steamship is watching to acquire 5 kamsarmax bulk carriers with private equity backing. Eddie Steamship asserts that Chine Shipyards increased dry bulk carrier prices and selling all the ships as a package instead of the individual ship. Taiwanese shipowner and operator Eddie Steamship operates about 12 chartered in dry bulk carriers and owns tonnage of one (1) panamax dry bulk carrier 1999 built 80K DWT MV High Speed and one (1) handymax dry bulk carrier 1996 built 47K DWT MV Explorer. CEO Xu Zhijian said Eddie Steamship was the co-founder of Taiwanese shipowner Courage Marine.
2-April-2017
American giant Koch Shipping chartered in two (2) capesize dry bulk carriers for one year. Koch Shipping chartered in 2012 built 179K DWT M/V Glovis Advance for $13,750 per day and 2012 built 179K DWT M/V Baltic Lion for $15,000 per day. Charter hire differences occurred due to delivery and redelivery options.
2-April-2017
Lightship Chartering opened a new office in London to serve in dry bulk and clean product markets. CEO Morten Have has already selected 9 shipbrokers. Lightship Chartering hired well-known shipbrokers from Clarksons. CEO Morten Have is projecting to double the size of the London office. Besides the London office, Lightship Chartering has offices in Copenhagen, Athens, Oslo, and Geneva. In 2016, Lightship Chartering walked into the clean products tanker market.
2-April-2017
Capesize spot rates reached $20,600 per day. The latest dry bulk market pike in rates was at least temporarily. Navios Maritime Holdings chartered out 2 capesize dry bulk carriers 179K DWT M/V Navios Bonheur at an index-linked rate and 180K DWT M/V Navios Happiness at an undisclosed fixed rate.
2-April-2017
South Korea based Polaris Shipping’s VLOC (Very Large Ore Carrier) MV Stellar Daisy sent a distress signal on 31 March 2017 and sunk off in South Atlantic. MV Stellar Daisy was carrying 260,000 tons of iron ore from Brazil to China. MV Stellar Daisy’s only two (2) crew members were rescued and other crew members are still missing. Marshall Islands-registered MV Stellar Daisy was 1,500 miles away from the shore of Uruguay and search operation is continuing for 22 missing crew members.
2-April-2017
Greek shipowner and operator Seanergy Maritime Holdings bought capesize dry bulk carrier 2012 Korean built 179K DWT from Dong-A Artemis for $32.5 million. This week, dry bulk market capesize daily spot rates reach $20,000 per day. Greek shipowner and operator Seanergy Maritime Holdings bought the capesize dry bulk carrier from South Korean shipowner Dong-A Artemis which has a fleet of 20 vessels. In September 2016, CEO Stamatis Tsantanis led Seanergy Maritime Holdings expanded its fleet by buying two capesize dry bulk carriers 2010 built from German shipowner ER Schiffahrt 178K DWT MV ER Bavaria and 178K DWT MV ER Bayern for a total of $41 million.
2-April-2017
Dry bulk carriers demolition prices struck $400 per ldt (lightweight displacement tonnage) which would indicate an entire improvement in the demolition market. Recycling market prices utterly sustains as capesize demolition sales struck the $400per ldt (lightweight displacement tonnage). Because of the dry bulk market spike last week, demolition nominees decreased. The latest dry bulk market increase in freight and period charter rates affected secondhand, new building, and now increased demolition prices.
2-April-2017
One of the greatest shipping lender ABN AMRO decreases down credits due to tonnage oversupply. ABN AMRO favors not to finance new shipbuilding orders that conclusively affect stability. Oversupply has been a well-known bar on shipping cycle rehabilitations. ABN AMRO decided not to finance any ships even with charter backed contracts. Netherlands based shipping lender ABN AMRO intends to prevent speculative tonnage. ABN With a $12 billion shipping portfolio, ABN AMRO is the third biggest ship lender after Nord/LB $18 billion and DNB $13 billion.
2-April-2017
Geneva-based ship operator SwissMarine chartered in capesize dry bulk carrier 2011 built 175K DWT M/V Charlotte Selmer for a year at $13,500 per day.