20-December-2017
Oslo over the counter-listed Tor Olav Troim led 2020 Bulkers ordered two (2) firm newcastlemax bulk carriers 208K DWT at Chinese Shipyard New Times for $44.2 million each. Norwegian 2020 Bulkers recently raised a small amount of fresh capital from investors. Norwegian shipowner 2020 Bulkers has 4 further options in hand at Chinese Shipyard New Times which will expire end of December if not taken up. Tor Olav Troim led 2020 Bulkers is in no rush to invest in additional ships and build up a fleet when newbuilding prices are already rising.
20-December-2017
US-listed shipowner and operator Diana Shipping chartered out 2007 built capesize dry bulk carrier 177K DWT MV Boston to EGBN Bulk Carrier at $17,000 per day for 16 to 19 months.
20-December-2017
The Foremost Group, a bulk carrier owner based in New York, has recently entered into contracts with Shanghai Waigaoqiao Shipbuilding, a subsidiary of CSSC, for the construction of two newcastlemax bulk carriers, each with a deadweight tonnage (DWT) of 210K. One of these new 210K DWT newcastlemax bulk carriers is set for a long-term charter with the French commodity trading company, Louis Dreyfus Armateurs SAS. This latest agreement marks the third shipbuilding order placed by Foremost Group with Waigaoqiao Shipbuilding in the current year. It follows the company’s earlier orders of two 180K DWT capesize bulk carriers in June and an additional two capesize bulk carriers in September. Furthermore, in August, Foremost Group also commissioned the construction of two 85K DWT kamsarmax bulk carriers at Oshima Shipbuilding in Japan. Currently, Foremost Group maintains and operates a significant fleet comprising 18 large bulk carriers, underscoring its substantial presence and activity in the global shipping industry.
20-December-2017
US-listed shipowner and operator Diana Shipping chartered out 2010 built capesize dry bulk carrier 177K DWT MV New York to DHL at $16,000 per day. Previously, MV New York was chartered out US-based fertilizer giant Koch Shipping at $14,450 per day. As company policy US-listed shipowner and operator Diana Shipping charters out all of its fleet on period charters.
19-December-2017
Maritime Port Authority (MPA) of Singapore has invested around $9 million for the construction of new LNG bunker vessels (LBVs) to facilitate the construction of ship-to-ship LNG bunkering in Singapore Port. Singapore, as the world’s most comprehensive bunkering hub. Financed firms by Singapore Maritime Port Authority (MPA): Keppel SMIT Towage, Maju Maritime, Harley Marine Asia, Sinanju Tankers, and PSA Marine.
19-December-2017
German shipowner and operator Reederei Roth sold 2000 built panamax dry bullk carrier 72K DWT MV Silver One for around $8 million to Chinese shipowners. In 2003, GReederei Roth acquired MV Silver One for around $20 million. Reederei Roth is managed by Torsten Meier.
19-December-2017
Taiwanese shipowner and operator Wisdom Marine Group ordered two (2) ultramax dry bulk carriers $26 million for each in Japanese shipyard Kawasaki Heavy Industries. Previously in 2017, Taiwanese shipowner and operator Wisdom Marine Group ordered three dry bulk carriers. In the summer of 2017, Wisdom Marine Group exercised a purchase option on a leased handy bulk dry bulk carrier from Mitsubishi UFJ Lease & Finance Co for $14.8 million. Wisdom Marine Group will continue to expand its fleet through newbuildings and secondhand ships. Taiwanese shipowner and operator Wisdom Marine Group was founded in 1999 by Lan Chun-Sheng. Currently, Wisdom Marine Group is now Taiwan’s largest shipowner with a fleet of 124 ships. Wisdom Marine Group has 12 new buildings in order.
17-December-2017
A newly built ultramax bulk carrier owned by Kuang Ming Shipping Corp., the dry bulk shipping division of Taiwan-based shipowner and operator Yang Ming Marine Transport, was successfully refloated after it ran aground in the Columbia River near Crims Island, close to Mayger, Oregon. The ultramax bulk carrier MV KM London, one of the newest additions to Kuang Ming Shipping Corp.’s expanding modern fleet, grounded while carrying a full cargo of wheat. According to reports, two of the ship’s forward compartments began taking on water following the grounding, but the onboard crew promptly contained the flooding, preventing further damage. The United States Coast Guard (USCG) deployed a response team and an MH-60 Jayhawk helicopter to the scene to assess the situation for potential oil or fuel leakage, but no environmental pollution or spillage was detected, and all crew members were confirmed safe. After being stabilized, the ultramax bulk carrier MV KM London was refloated and assisted by three tugboats to Longview, Washington, where it was moored for inspection and safety checks. Delivered to Kuang Ming Shipping Corp. on November 16, the ultramax bulk carrier MV KM London had just entered service, highlighting the shipowner’s commitment to continual fleet modernization and operational excellence. Kuang Ming Shipping Corp., founded in 1990, serves as the dry bulk shipping arm of Taiwan-based shipowner and operator Yang Ming Marine Transport and has evolved into one of Taiwan’s most established and technically advanced dry bulk shipowners. Initially created to support Yang Ming Marine Transport’s container business through booking and agency functions, Kuang Ming Shipping Corp. transitioned into dry bulk operations in 2008 as part of a strategic diversification plan aimed at capitalizing on rising demand for commodities such as coal, iron ore, grain, and fertilizer. Since then, Kuang Ming Shipping Corp. has built a reputation for reliability, safety, and sustainability, operating a fleet of 19 bulk carriers that span multiple size classes, including handymax, supramax, kamsarmax, and capesize bulk carriers. The fleet is active across major global trade routes, connecting Asia, the Middle East, and the Americas, serving a wide range of industrial clients and charterers. Kuang Ming Shipping Corp. has consistently invested in eco-friendly ship designs that meet the highest international standards for fuel efficiency and emissions reduction. The shipowner’s vessels are equipped with modern hull optimization features, energy-saving devices, and propulsion systems designed to minimize carbon output in alignment with the IMO (International Maritime Organization) EEDI (Energy Efficiency Design Index) and CII (Carbon Intensity Indicator) frameworks. Under the leadership of Chairman Tsai Ming-Hsu, Kuang Ming Shipping Corp. has placed great emphasis on integrating digital technologies into its operations, including advanced voyage optimization systems, predictive maintenance software, and automated performance monitoring tools. These innovations enable the shipowner to operate with precision, maintain safety, and optimize fuel usage while ensuring the wellbeing of its crew through stringent safety protocols and training programs. The grounding and rapid recovery of the ultramax bulk carrier MV KM London illustrate the professionalism of Kuang Ming Shipping Corp.’s crew and management, whose disciplined response prevented any environmental damage and ensured operational continuity. This incident further demonstrated the company’s strong crisis management capabilities and its dedication to maintaining the highest standards of ship safety. With its expanding presence in the supramax and ultramax segments, Kuang Ming Shipping Corp. continues to focus on modernizing its fleet and enhancing its global competitiveness. Supported by the technical and financial strength of Taiwan-based shipowner and operator Yang Ming Marine Transport, Kuang Ming Shipping Corp. remains a key player in the dry bulk market, combining Taiwan’s maritime heritage with cutting-edge operational practices. The recent delivery of the ultramax bulk carrier MV KM London exemplifies the company’s ongoing fleet renewal initiative, reinforcing its reputation as a reliable, progressive, and environmentally responsible shipowner within the international dry bulk shipping industry.
16-December-2017
According to Clarksons Research’s latest weekly report, Athens-based shipowner and operator Cosmoship Management SA, led by Nikos Savvas, has placed an order for four 1,500 TEU container ships at Guangzhou Wenchong in China. All four ships are scheduled for delivery in the third quarter of 2019. These new additions will expand the container fleet of Cosmoship Management SA to a total of 14 vessels. The fleet primarily consists of feeder ships, with capacities ranging from 1,000 TEU to 1,800 TEU. This strategic move not only broadens their operational capabilities but also reinforces their position in the regional container shipping market. With this order, Cosmoship Management SA has filled Guangzhou Wenchong’s available berths for 2019, prompting the shipyard to begin marketing slots for 2020. Cosmoship Management SA has established a reputation for innovative fleet management and strategic growth in the competitive shipping industry. The company focuses on optimizing its fleet composition to better serve the evolving needs of international trade routes and logistics demands. In addition to its focus on feeder container ships, Cosmoship Management SA is committed to adopting eco-friendly technologies and practices. The company is actively involved in initiatives aimed at reducing the environmental impact of its operations, aligning with global sustainability goals. This includes investments in newer, more efficient vessels that meet stricter environmental regulations, thus future-proofing their business against upcoming changes in international maritime law. Under the guidance of Nikos Savvas, Cosmoship Management SA continues to prioritize operational excellence and customer service, ensuring reliable and efficient transport solutions for its clients worldwide. Their strategic investments and commitment to sustainability are set to keep Cosmoship Management SA at the forefront of the maritime industry.
12-December-2017
MV Koza’s 13 crew members have been safely rescued from a listing ship that sent a distress signal 100 miles south of Freetown, Sierra Leone on 7 December 2017. 2004 built 9K DWT MV Koza’s captain announced a puncture in the engine room and the crew prepared to abandon ship. MV Koza is operated by Burtrans, Turkey.
11-December-2017
Cyprus’s esteemed FrontMarine, sister company of Limassol-based shipowner and operator Lemissoler Navigation, has commissioned eight (8) 63,000 DWT ultramax bulk carriers from New Times Shipbuilding for an attractive valuation of $26 million per vessel. These tier III ultramax bulk carriers are slated for a 2020 delivery, incorporating additional options. FrontMarine has a rich history of collaboration with the Chinese shipyard, previously commissioning a set of four supramax bulk carriers back in 2013. Established by the visionaries behind another renowned Cypriot maritime firm, Lemissoler Navigation, FrontMarine’s mission is to attract discerning investors via singular purpose entities. As articulated on their official portal, FrontMarine harbors aspirations to eventually go public.
10-December-2017
Mumbai-based Essar Shipping subsidiary, Essar Ports, is embarking on a significant expansion project with a planned investment of $500 million. This substantial financial outlay is aimed at enhancing two of its port facilities in India and establishing a new coal terminal in Mozambique over the next 30 months. Rajiv Agarwal, the Managing Director of Essar Ports, shared details about this ambitious plan. The investment will focus on increasing the capacities of the Hazira and Salaya ports, both located on India’s west coast. Additionally, Essar Ports will be constructing a new coal handling terminal in Mozambique. This project marks Essar Shipping Ltd’s first foray into an overseas port operation, expanding its global footprint beyond its existing four ports in India. The Mozambique facility is particularly notable as it will be connected to coal mines through a newly built 550 km rail link, enhancing the logistics and transportation efficiency for coal exports. Essar Ports also operates two other port facilities on the east coast of India, located at Vishakhapatnam and Paradip. This expansion reflects Essar Ports’ strategic intent to strengthen its position in the maritime industry and to capitalize on the growing demand for port and terminal services in key locations, both domestically in India and internationally. 7-January-2018Essar Shipping Ltd, a prominent private Indian shipowner, has set its sights on expanding its fleet with a focus on liquid bulk carriers. CEO Ranjit Singh, in a conversation with BusinessLine, a local media outlet, outlined the company’s current acquisition interests. Essar is actively looking to purchase a panamax bulk carrier, an MR tanker, and a suezmax, with a specific condition that these acquisitions come with long-term charter agreements. Presently, Essar Shipping Ltd operates a diverse fleet of 14 vessels, predominantly bulk carriers. This fleet consists of one capesize bulk carrier, six mini capesize bulk carriers, one panamax bulk carrier, two supramaxes bulk carriers, two handymaxes bulk carriers, and two very large crude carriers (VLCCs). The average age of Essar Shipping Ltd’s fleet is around 12 years. As part of its fleet renewal strategy, Essar plans to decommission its 25-year-old capesize bulk carrier within the next 18 months. This vessel will be replaced with a younger panamax bulk carrier, as part of the company’s commitment to maintaining a modern and efficient fleet. This decision aligns with Essar Shipping Ltd’s ongoing efforts to optimize its fleet in response to market demands and technological advancements in the shipping industry.
8-December-2017
Former Hangin Shipping CEO was imprisoned for 18-months for insider trading. Choi Eun-young was accused of trading off her family’s stock in the Hangin Shipping just before it filed for a court-led restructuring in 2016.
8-December-2017
Chinese shipyard Yangzijiang Shipbuilding has received an order worth a total $470 million of newcastlemax 208K DWT dry bulk carries from China Development Bank Financial Leasing (CDB FL). All ordered kamsarmax dry bulk carriers are on the back of 5-year charters from Cargill. Each kamsarmax dry bully carrier has a price tag of $47 million. New building kamsarmax dry bulk carriers will comply with the International Maritime Organization’s Tier-III nitrogen oxide regulations. this is the second time that China Development Bank Financial Leasing (CDB FL) has worked with Yangziiiang Shipbuilding. Previously, China Development Bank Financial Leasing (CDB FL) ordered four 260K DWT ore carriers backed by Fortescue Metals Group (FMG) for 12 years.
5-December-2017
Chinese shipowner and operator Fujian Guohang Ocean Shipping Group Co Ltd has initiated a contract with CSIC-affiliated Qingdao Wuchuan Heavy Industry for the construction of three 86,000 DWT (deadweight tonnage) post-panamax bulk carriers. The total worth of this agreement amounts to $90.7 million and also encompasses options for the construction of an additional five post=panamax bulk carriers of the same distinguished class. These post-panamax bulk carriers shall be skillfully managed by Fujian Guohang Ocean Shipping Group Co Ltd’s esteemed subsidiary, Shanghai Guodian Shipping. The inaugural post-panamax bulk carriers are scheduled for delivery in August 2019, while the remaining two are expected to grace the seas in October 2019. At present, Chinese shipowner and operator Fujian Guohang Ocean Shipping Group Co Ltd boasts a fleet of 38 bulk carriers.
3-December-2017
London-listed shipbroking giant Clarksons was targeted by hackers in other words cyber-criminals last week. Clarksons is working with London police for stolen data that may be released by hackers. Clarksons CEO Andi Case told that this cyberattack has not affected Clarksons’ ability to do business. London-listed shipbroking giant Clarksons is working closely with specialist cybercriminals police teams and data security experts to protect clients’ databases.
3-December-2017
Greek shipowner and operator Fafalios Shipping SA bought 2009 Japanese built panamax dry bulk carrier 82K DWT MV Nord Venture for around $18 million. In July 2016, Greek shipowner and operator Fafalios Shipping sold 1993 built dry bulk carrier 65K DWT MV Despina for demolition for around $3 million.
3-December-2017
South Korean shipowner and operator H-Line Shipping send demolition 1993 built capesize bullk carrier 208K DWT MV Pos Dedicator for about $10 million to Pakistan Scrapyard. Furthermore, H-Line Shipping send demolition 1992 built capesize bullk carrier 149K DWT MV Pos Harvestor for around $7 million to Pakistan Scrapyard. Earlier in 2017, South Korean shipowner and operator H-Line Shipping sold three (3) capesize dry bulk carriers for demolition.
3-December-2017
Oslo based financial investor Rasmussengruppen sold its entire stake which is 4.8 million shares of dry bulk bulker owner Norden. Rasmussengruppen shares worth $89.7 million. Copenhagen based dry bulk carrier owner and operator Norden’s stock is currently trading at DKK 114.90. Oslo based financial investor Rasmussengruppen was the second biggest investor in Norden, after the Danish company Motortramp on 28.08%. Oslo based financial investor Rasmussengruppen originally bought dry bulk shipowner and operator Norden’s stocks 13 years ago.
3-December-2017
Indian shipowner and operator West Asia Maritime sold 1984 built handymax dry bulk carrier 41K DWT MV Gem of Paradip to a Bangladesh scrapyard for 396 per ldt (lightweight displacement tonne) i.e. $3 million.
3-December-2017
Bankrupted German shipowner and operator Bertram Rickmers is behind six (6) new-building containership orders in a Chinese Fujian Mawei Shipbuilding. Rickmers Holding filed for bankruptcy. Bertram Rickmers is restoring fleet with his own capital. German Bertram Rickmers’ new company is called Asian Spirit Steamship Co.
3-December-2017
South Korean shipowner and operator Sinokor Merchant Marine Co. Ltd. send demolition 1999 built capsize dry bulk carrier 17OK DWT M/V Silver Voyager to Pakistan Scrapyard for $461 per ldt or $9.4 million which is including includes 1,200 tons of bunkers. In 2012, South Korean shipowner and operator Sinokor Merchant Marine Co. bought M/V Silver Voyager (ex M/V Rubin Hope) for $15.3 million. In the first half of 2017, Sinokor Merchant Marine Co. Ltd. also sold 2 capesize dry bulk carriers 1995 built 161K DWT M/V Silver Express and 1994 built 151K DWT M/V Silver Ocean to demolition.
1-December-2017
Los family-controlled Greek shipowner and operator Vrontados SA has recently expanded its fleet with the acquisition of the MV Equinox Melida, an ultramax bulk carrier. This vessel, with a deadweight tonnage (DWT) of 61,299, was built at Cosco Dalian and was previously owned by another Greek company, Equinox Maritime. Vrontados purchased the ship for $25.5 million, continuing its pattern as a specialist in acquiring vintage vessels. This transaction is not the first of its kind for Equinox Maritime, which has been actively selling parts of its fleet. Notably, in December of the previous year, Equinox Maritime completed a notable sale with Songa Bulk of Norway. In this deal, Equinox Maritime sold a bulk carrier built in 2009 for $14.8 million. Uniquely, part of the payment for this transaction was made in shares, resulting in Equinox Maritime obtaining a 6% stake in Songa Bulk, a rapidly expanding Norwegian company. Such transactions highlight the dynamic nature of the shipping industry, where fleet composition is continually evolving. Companies like Vrontados and Equinox Maritime regularly engage in buying and selling vessels as part of their operational strategies, capitalizing on market opportunities and adjusting their fleets to meet current and anticipated demands. These deals also reflect the intricate financial arrangements that can occur within the industry, such as the exchange of shares as part of purchase agreements.