30-July-2017
Chittagong-based state shipowner and operator Bangladesh Shipping Corp (BSC) is advancing into another expansive phase of growth as the organisation enters negotiations to secure eight additional Chinese-built ships, reinforcing its long-term ambition to strengthen Bangladesh’s national maritime capabilities and reduce reliance on foreign tonnage for critical cargo movements. Bangladesh Shipping Corporation (BSC) is currently in detailed discussions with Chinese financial institutions regarding an eight-ship acquisition programme, a move that continues Bangladesh Shipping Corp’s (BSC’s) established strategy of utilising Chinese credit frameworks to support its fleet renewal and operational modernisation objectives. The state-run shipowner and operator Bangladesh Shipping Corp (BSC) already has three bulk carriers and three product tankers under construction at Chinese shipyards, all financed through arrangements secured with China’s Exim Bank, with deliveries expected to commence from the middle of next year. This ongoing construction pipeline demonstrates Bangladesh Shipping Corp’s (BSC’s) structured approach to scaling its capabilities through consistent expansion cycles, taking advantage of competitive shipbuilding pricing and long-term financing options available in China. The anticipated newbuild order is expected to be placed at Bangladesh Shipping Corp’s (BSC’s) preferred shipyard, Yangzijiang, a Chinese yard that has previously collaborated with Bangladesh Shipping Corp (BSC) on multiple projects and is known for efficient delivery schedules, reliable engineering standards, and strong cooperation with state-backed maritime entities. The potential partnership with Yangzijiang underscores Bangladesh Shipping Corp’s (BSC’s) preference for continuity across its fleet procurement channels, allowing technical teams to maintain standardised specifications, streamline spare-parts management, and simplify long-term maintenance planning. Founded in 1972, Bangladesh Shipping Corp (BSC) has evolved from a modest post-independence maritime organisation into one of the most strategically significant state entities in Bangladesh’s trade and logistics framework. Today, Bangladesh Shipping Corp (BSC) manages a fleet of 13 ships with an average age of around 20 years, and the organisation has been accelerating efforts to renew its ageing fleet after years of limited investment. Bangladesh Shipping Corp (BSC) holds a critical national role as the primary state-owned carrier responsible for transporting essential cargoes, including energy imports, industrial raw materials, and government-mandated shipments such as fertiliser, food grains, and petroleum flows. Bangladesh Shipping Corp (BSC) also provides logistical resilience during disruptions in global markets and helps Bangladesh mitigate risks stemming from geopolitical tensions, freight market volatility, or supply chain shocks. Over the last decade, Bangladesh Shipping Corp (BSC) has intensified its efforts to enhance technical standards, elevate crew training, comply with international safety regulations, and transition toward a more commercially oriented operational model. With Bangladesh’s economy expanding, energy demand rising, and the nation’s export-import activity growing steadily, Bangladesh Shipping Corp (BSC) is positioning itself as a more capable and diversified maritime carrier able to safeguard national transport security, support industrial development, and capture a larger share of regional shipping activity. As Bangladesh Shipping Corp (BSC) moves forward with its ambitious expansion plans, the organisation aims to build a younger, more fuel-efficient, and more competitive fleet that can serve Bangladesh’s economic priorities while simultaneously establishing a stronger presence within the broader global shipping market.
30-July-2017
Basile Aloy led Ebe Maritime (EBE NV) bought 2011 built panamax dry bulk carrier 82K M/V Atlantic Prime for $19 million. Ebe Maritime (EBE NV) is looking to continue its growth plans and including the latest purchase, the shipowner increased the fleet to four dry bulk carriers. Ebe Maritime (EBE NV) was established in 2016 by Basile Aloy from the Saverys family. In 2016, Antwerp-based shipowner Basile Aloy bought a 2012 built capesize dry bulk carrier 180K DWT M/V El Grasso for $26.5 million. M/V El Grasso chartered out to Rio Tinto until May 2018 for $13,000 per day.
30-July-2017
V.Ships Ship Management appointed Ian El-Mokadem as a new chief executive from the outside shipping industry. Previously, V.Ships Ship Management was led by Clive Richardson. Currently, V.Ships Ship Management is the world’s largest third-party ship-manager. V.Ships Ship Management has been delivering excellent world-class services for shipowners.
30-July-2017
South Korean shipowner Hanjin Shipping is looking to find $1 billion through ship sales. Hanjin Shipping sold 2004 built handysize bulk carrier 33K MV Great Dream to Greek buyers for around $7 million. Greek Oceanleadaritime SA renamed the ship as MV Alpha Praxis (ex MV Great Dream). The ship’s technical management is given to V.Ships Ship Management.
28-July-2017
Ziad Nakhleh led Greek shipowner and operator Teo Shipping sold 2001 built panamax dry bulk carrier 74K DWT MV Cretan Wave (ex M/V Tina 3) for around $7 million for further trading. The buyer of MV Cretan Wave has not been revealed.
Ziad Nakhleh led Greek shipowner and operator Teo Shipping has a fleet of 8 bulk carriers. Teo Shipping bought MV Cretan Wave (ex M/V Tina 3) in 2007 for around $54 million.
26-July-2017
German shipowner Martin Harren led Harren & Partner acquired Japanese shipowner K Line’s SAL Heavy Lift fleet of 15 ships. Harren & Partner also owns Combi Lift. After K Line’s SAL Heavy Lift acquisition, Heavy Lift shipowner Harren & Partner will have 26 ships in the fleet. Harren & Partner will be the new dominant shipowner in the super heavy-lift market. MPV and project market has for a long time been in distress. In 2016, BBC Chartering/Briese Schiffahrst offered to acquire SAL Heavy Lift after Japanese shipowner K Line put the outfit up for sale but never materialized.
24-July-2017
Japanese shipowner NS United sold 2002 built capesize dry bulk carrier 184K DWT M/V NSS Endeavour for around $13 million for further trading Hong Kong-based shipowners.
20-July-2017
Italian dry cargo and heavy-lift shipbroker HP Shipping is opening an office in Switzerland under the name of DNP HB Shipping. Switzerland DNP HB Shipping will be managed by Edoardo Olivari. Italian HP Shipping was established in 2009 by Maurizio Gozzi and other shipbrokers left Clarksons. There are huge concerns over the future of the Italian dry cargo business after the sale to Arcelor Mittal which is Europe’s biggest steel plant.
20-July-2017
Oslo-listed John Fredriksen’s Golden Ocean Group received the control of 2012 built panamax dry bulk carrier 81K DWT MV Golden Keen (ex M/V Q Keen). MV Golden Keen is the final dry bulk carrier from Quintana Shipping’s 16 dry bulk carriers. Autumn of 2016, Golden Ocean Management approached Quintana Shipping’s private equity backer Riverstone to buy vessels for $364 million. Currently, John Fredriksen’s Golden Ocean Group has a fleet of almost 70 dry bulk carriers and has 6 new-building bulk carriers on order.
20-July-2017
Japanese shipowners are proposing a revised charter party clause that would introduce advance hire payments as a security mechanism, with ship operators asked to place several months of hire upfront to strengthen the owner’s protection against counterparty default. The proposal reflects a more cautious stance among Japanese shipowners toward medium to long-term charter commitments, where exposure to a single charterer can accumulate quickly and where recovery options can be limited if an operator fails mid-charter. The push for additional security has been shaped by hard lessons from recent years, including situations in which Japanese shipowners were adversely affected by high-profile operator failures such as Western Bulk Chartering (WBC) and Global Maritime Investment, experiences that reinforced the view that even established chartering platforms can unravel rapidly when markets turn and liquidity tightens. In that context, Japanese shipowners are seeking a clearer buffer against charterer credit risk by restructuring how hire is paid, shifting part of the burden from post-service payment to pre-funded coverage that can absorb shocks if a charterer’s financial position deteriorates. Under the proposed clause, shipowners would take a specified proportion of the daily charter hire in advance across the length of the charter, effectively building an escrow-like cushion that reduces outstanding exposure at any point in time and improves the owner’s ability to manage risk without relying solely on legal remedies after a default. The concept is aimed particularly at relationships where trust has not yet been established, meaning Japanese shipowners would be most likely to request upfront payments from charterers with no long-standing track record, charterers that are new to the market, or charterers that have limited financial transparency. The Western Bulk Chartering (WBC) reference continues to resonate because Western Bulk Chartering (WBC) operated at significant scale as a bulker operator and chartering platform, demonstrating how a large chartering footprint does not automatically eliminate credit risk for shipowners when broader market volatility, financing constraints, or structural weaknesses converge. As a result, Japanese shipowners are increasingly framing upfront hire payments as a practical safeguard that can make medium and longer charters more bankable, improve predictability of cash flow, and reduce the likelihood that shipowners are left with unpaid exposure if an operator collapses or seeks restructuring during the charter term.
18-July-2017
Norwegian fertiliser group Yara International profits plunged due to lower commodity margins. Yara International reported net earnings of NOK 699 million compared with NOK 3 billion in 2016. Norwegian LPG carriers and fertiliser group Yara International announced the fertilizer trade is challenging with obvious over-supply of urea and additional nitrogen products.
In 2016, Yara International acquired $270 million LPG carriers from Hyundai Mipo Dockyard (HMD). Norwegian LPG carrier and fertiliser group Yara International requires around 18 LPG carriers to operate. Furthermore, Yara International will proceed to charter in additional LPG carriers.
17-July-2017
Ukrainian-Greek ship operator Aquavita International S.A. has completed a sale-and-leaseback deal with a pair of Nordic Hamburg ships. Aquavita International S.A. bought 2017 built handy bulk carrier 37K DWT MV Nordic Darwin and MV Nordic Perth for around $20 million per ship. Ukrainian-Greek company Aquavita International S.A. is led by Evgeniy Lavrenko.
17-July-2017
Chinese shipowner and operator Fujian Guohang Ocean Shipping Group Co Ltd has gracefully resumed stock trading after an arduous eight-month period of trading suspension. Fujian Guohang Ocean Shipping Group Co Ltd had diligently halted stock trading since November 18, 2016, awaiting the opportune moment for a momentous announcement. Chinese shipowner and operator Fujian Guohang Ocean Shipping Group Co Ltd expounded that the company had harbored intentions of venturing into the domain of livestock carriers, perceiving potential in the escalating import volume of livestock into China. However, Fujian Guohang Ocean Shipping Group Co Ltd has now elected to relinquish the pursuit, as the company encountered impediments in making significant headway despite several rounds of negotiations with prospective partners. According to Chinese shipowner and operator Fujian Guohang Ocean Shipping Group Co Ltd, the company’s reservations concerning the project encompassed the formidable investment costs and the prolonged shipbuilding period mandated. At present, Fujian Guohang Ocean Shipping Group Co Ltd elegantly operates a fleet of 38 bulk carriers.
17-July-2017
Interlake Steamship’s 1952 built handysize laker 28K DWT MV Kaye E Barker struck into drawbridge on 16 July 2017 on Lake Michigan. MV Kaye E Barker was transporting coal cargo. No injuries or pollution have been reported. M/V Kaye E Barker is classed by the American Bureau of Shipping (ABS) and P&I club Steamship Mutual Underwriting Association.
16-July-2017
Thoresen Thai Agencies subsidiary Thoresen Shipping acquired 2008 built supramax dry bulk carrier 58K DWT M/V Thor Confidence (ex M/V Crystal Palace) from Japanese shipowner and operator Santoku Senpaku for $13 million. Bangkok based Thoresen Thai Agencies subsidiary Thoresen Shipping has a fleet of 21 dry bulk carriers.
13-July-2017
Nordic Hamburg Shipping continues to reconfigure its fleet, as noted by shipbrokers, as the company has recently sold a pair of newly delivered bulk carriers. Athens-based ship operator Aquavita International S.A., an 11-year-old Ukrainian company that currently oversees a fleet of over 40 bulk carriers, has acquired the sister ships MV Nordic Perth and MV Nordic Darwin. MV Nordic Perth and MV Nordic Darwin are both equipped with gears, were built in China, and have a capacity of 37K DWT (deadweight tons). The transaction involves a purchase price of $20 million per ship, along with a seven-year bareboat charter agreement.
12-July-2017
Croatian Shipowner Uljanik Plovidba has reduced losses in the first 6 months of 2017. Croatian Shipowner Uljanik Plovidba owns and operates 4 tankers and 3 supramax dry bulk carriers. Croatian Shipowner Uljanik Plovidba has reported a net deficit of $446,400 in the first half of 2017 which seems better than the 2016 loss.
12-July-2017
US-listed shipowner and operator Diana Shipping chartered out 1 kamsarmax dry bulk carrier and 2 panamax dry bulk carriers. Diana Shipping chartered out 2010 built 82K DWT M/V Medusa to Cargill for a year for $10,000 per day. Diana Shipping chartered out 2006 built 76K DWT M/V Artemis to Ausca Shipping for a year for $8,350 per day. Diana Shipping also chartered out 2004 built 73K DWT M/V Thetis to Ausca Shipping for a year for $8,350 per day. Diana Shipping will approximately earn around $9.85 million from these charters.
12-July-2017
George Economou-led New York-listed DryShips win a legal battle over share issues against Michael Sammons, who owns 45,000 shares in DryShips. Michael Sammons was seeking to stop DryShips issuing new shares to its financial backer Kalani Investments at deep discounts. Michael Sammons application for a temporary restraining order in the Marshall Islands was denied. George Economou led DryShips via shelf registration issuing $2 billion stocks to Kalani Investments at discounts of up to 90% of the company’s tangible book value. Kalani Investments is backed by Marc Bistricer.
12-July-2017
Erasmus Shipinvest will control three (3) capesize dry bulk carriers owned by Chinese Minsheng Trust. Erasmus Shipinvest will control 2004 built 175K DWT MV Msxt Vivienne, 2012 built 180K DWT MV Msxt Capella, and 2010 built 178K DWT MV Msxt Trinity. Furthermore, Erasmus Shipinvest will take technical and commercial management of 2009 built panamax dry bulk carrier 77K DWT MV Agri Kinsale (ex M/V Santa Celia). Currently, Erasmus Shipinvest is operating 16 dry bulk carriers.
12-July-2017
German shipping lender HSH Nordbank sold a $570 million bond. HSH Nordbank commenced the privatization period. HSH Nordbank has been striving with outstanding shipping loans.
12-July-2017
Singapore Court manager Yit Chee Wah scraps deal to transfer Mercator Lines’ Singapore stock exchange listing to Nickolaos Mitropoulous and Dimitrios Podaridis. Currently, Mercator Lines’s shares are suspended and the Mercator Lines fleet was sold to repay mortgages.
12-July-2017
Sovcomflot (SCF) asked Russian administrators for enhanced Arctic navigation. Sovcomflot (SCF) requires substandard vessels to be forbidden from the Northern Sea Route (NSR). Sovcomflot (SCF) demanding a prohibition on substandard vessels and crews sailing in the Arctic region. Sovcomflot (SCF) shuttle tankers started year-round oil shipments from Novy Port at the beginning of 2017 and Yamal LNG is expected to come onstream in late 2017. Sovcomflot’s (SCF) new-generation vessels for Arctic trade are scheduled for delivery in 2018.
8-July-2017
Greek shipowner and operator Golden Union Shipping led by Theodore Veniamis bought 2006 Japanese built capesize dry bulk carrier 180K DWT M/V Cape Frontier for $17 million. Golden Union Shipping’s third bulk carrier purchase in 2017. Greek shipowner and operator Golden Union Shipping has 43 dry bulk carriers in oceans.
6-July-2017
Greek shipowner and operator Merchant Marine Management 2010 built post panamax dry bulk carrier 91K DWT M/V Americana is detained in Singapore by mortgagee bank HSH Nordbank for $34 million. M/V Americana current value is about $16 million. In 2015, M/V Americana was detained by charterers Phaethon International in a dispute over bunker payments.
6-July-2017
Taiwanese shipowner and operator Wisdom Marine acquired supramax dry bulk carrier at a knockdown price. Taiwanese shipowner and operator Wisdom Marine is paying 14.65 million for 2012 built supramax dry bulk carrier 58K DWT M/V Sunrise Sky with 7 year bareboat charter with purchase obligation, at the end of which Wisdom will pay the remaining balance and own M/V Sunrise Sky outright. M/V Sunrise Sky will be delivered in Shanghai, China. Taiwanese shipowner and operator Wisdom Marine has a fleet of 114 ships and mostly handysize dry bulk carriers.
5-July-2017
German shipowner and operator Oldendorff Carriers launched a coal-transshipment hub in Vietnam capable of handling newcastlemax bulk carriers. Floating Transfer Platform (FTP) has a discharge capability of 25,000 metric tons per day and will handle growing coal imports of Vietnam. Vietnam is currently suffering to receive and export of bulk cargoes due to shallow ports and poor infrastructure. Floating Transfer Platform (FTP) has 2 cranes, hoppers, and conveyor belts and will be able to tranship the coal from large vessels into shallow draft barges for delivery to customers. Oldendorff’s Floating Transfer Platform (FTP) will be a cost-effective logistic solution.
5-July-2017
Swedish Alfa Laval Pure Ballast System gains agreement for ballast treatment equipment in the USA. Alfa Laval Pure Ballast System gained an order to retrofit up to 53 ships for US Coast Guard’s standard endorsement for ships steaming in US waters. In the USA, The Ballast Water Management Convention enters into force on 8 September 2017. IMO (International Maritime Organisation) has been attempting to delay the deadline for installing ballast water treatment equipment.
5-July-2017
Turkish shipowner and operator Yasa Shipping has ordered up to eight (8) ultramax dry bulk carriers at Chinese Yangzijiang Shipbuilding for delivery in 2019. Yasa Shipping’s contract will be signed once the company secures financing. Yasa Shipping 64K ultramax dry bulk carriers would be built according to International Maritime Organization (IMO)’s Tier II standards for around $24 million each ship. In 2007, Turkish shipowner and operator Yasa Shipping ordered eight 30K handy size dry bulk carriers at Tsuji Heavy Industries (Jiangsu) in China for $240 million total. Afterward, the contract collapsed when Tsuji Heavy Industries (Jiangsu) got into financial trouble. In 2016, Turkish shipowner and operator Yasa Shipping bought 2 supramax dry bulk carriers in 2013 built 55K DWT M/V Yasa Sparrow (ex M/V Sharp) and 2013 built Yasa Canary (ex M/V World) for $9.3 million each. Currently, Turkish shipowner and operator Yasa Shipping has 6 tankers and 20 dry bulk carriers in the fleet.
2-July-2017
Precious Shipping’s 2008 built handysize dry bulk carrier 30K DWT M/V Mallika Naree run aground in Elizabeth River Norfolk, Virginia in the USA and no pollution has been reported. American tugs refloated M/V Mallika Naree and steamed to a nearby anchorage. M/V Mallika Naree was carrying cement and steel from France to Virginia.