31-March-2017
Norden is projecting a $16.5 million per year saving from a fuel efficiency both owned and chartered tonnage. Denmark based shipowner and operator Norden started the Fuel Efficiency project in 2012. Bunkers account for 45% of the Danish shipowner’s voyage expenses. Norden owned ships fuel efficiency increased by vessel paint, propeller polishing, and hull cleaning. Copenhagen based Norden has a fleet of 236 dry bulk carriers which is 40% owned and 60% chartered in tonnage.
31-March-2017
Greenship Bulk Trust sold 5 ultramax bulk carriers for around $17 million each. Crown-63 type ultramax bulk carriers were financed by DVB Bank and HSH Nordbank.
Greenship Bulk Trust’s five ultramax dry bulk carriers were
31-March-2017
German HSH Nordbank reported a loss of around EUR 2 billion due to complications in shipping markets. Shipping NPE (Non-Performing Exposure) constituted EUR 9 billion. HSH Nordbank contracted a few contracts with blue-chip international shipping companies. HSH Nordbank shipping portfolio covers more than 1,300 ships.
30-March-2017
Greek shipowner and operator Nicholas G Moundreas (NGM) has bought two 2001 Japanese built capesize dry bulk carriers 172K DWT MV Ganbei (ex MV Ce-Alliance) and 170K MV Win Win (ex MV Ce-Duke) for around $9.5 million each. Nicholas G Moundreas (NGM) acquired the capesize dry bulk carriers just before the dry bulk market began picking up. Greek shipowner and operator Nicholas G Moundreas (NGM) bought capesize dry bulk carriers from Greek Centrofin Management. In January 2017, Nicholas G Moundreas (NGM) sold two 1997 capesize dry bulk carriers MV Natty and MV Tango to scrapyards for around $7 million each. Greek shipowner and operator Nicholas G Moundreas (NGM) tanker arm NGM Energy has a fleet of 18 tankers.
30-March-2017
Japanese giant dry bulk owner NS United applied stock split to fit in with new stock exchange policy at Tokyo Stock Exchange and shareholders will receive 1 share for every 10 they hold. Japanese Stock Exchange companies are encouraged to set common shares units at 100 shares, from 1,000 previously.
29-March-2017
2000 built multipurpose (MMP) sister ships 8K DWT MV Lady Gloria and MV Lady Gaia were put up for auction by a court. Bankrupt Italian shipowner Navemar was established in 2003.
28-March-2017
2010 built small coaster dry bulk cargo ship 3K DWT MV Hai Thanh 26-BLC sank off Vung Tao City. 2 crew members were rescued by another ship and 9 crew members are missing. MV Hai Thanh 26-BLC was carrying clinker cargo and operated by Phuong Thinh Trading.
28-March-2017
Dry bulk shipping tycoon George Economou’s Ocean Rig has filed for bankruptcy under Chapter 15 of the US Bankruptcy Code due to $3.69 billion debts and a lengthy drillship market downturn. Dry bulk shipping magnate George Economou’s Ocean Rig has reached a settlement with mortgagers expressing over 72% of its $3.69 billion debt for a financial restructuring. George Economou explained that Ocean Rig will rise as a more powerful corporation after Chapter 15. New York-listed Ocean Rig operations will proceed as usual.
27-March-2017
Antwerp-based shipowner and operator Cobelfret Bulk Carriers CLdN is continuing its rapid expansion of its fleet in 2017, as reported by shipbrokers who have revealed that the company has recently placed an uncommon order for bulk carriers in Japan. Cobelfret Bulk Carriers CLdN has engaged the services of Oshima Shipbuilding, renowned worldwide for its exceptional craftsmanship in constructing bulk carriers, to build two (2) post-panamax bulk carriers with a capacity of 98,000 DWT (deadweight tons). These splendid post-panamax bulk carriers are scheduled for delivery in 2019, and their price remains undisclosed. Earlier this year, Belgian bulk carrier and ro-ro operator Cobelfret Bulk Carriers CLdN acquired another post-panamax bulk carrier from German shipowner and operator Oldendorff for a sum of $19 million. Furthermore, Cobelfret’s roro subsidiary initiated an order for two roll-on/roll-off ships with a capacity of 8,000 units each from Hyundai Mipo Dockyard at the beginning of February.
27-March-2017
Chinese shipowner and operator Globe Marine sold 1999 built handymax dry bulk carrier 45K DWT MV Seawing 3 for around $4.5 million. Chinese shipowner and operator Tosco Shipping sold 1997 built handy bulk carrier 28K DWT MV Alice to another for around $3 million.
26-March-2017
Athens-based bulker and tanker shipowner and operator Centrofin Management Inc., led by prominent Greek shipping magnate Dimitris Procopiou, has finalized the sale of two vintage Japan-built 2001 capesize bulk carriers, the MV CE-Duke and the MV CE-Alliance, to fellow Greek shipowner and operator NGM Energy for an en bloc price of $19m. Centrofin Management Inc., which manages its bulk carrier operations through Trust Bulkers and its tanker fleet via Marine Trust, controls a diverse fleet of over 40 ships, including capesize, kamsarmax, panamax, and supramax bulk carriers, as well as suezmax and aframax tankers. The company has in recent years pursued a strategic fleet renewal program, combining targeted secondhand acquisitions, an active newbuilding orderbook that includes both bulk carriers and tankers, and the disposal of older ships to maintain a competitive and environmentally compliant fleet in line with IMO decarbonization goals. The sale of the MV CE-Duke and MV CE-Alliance forms part of this broader modernisation effort, freeing up capital for reinvestment into fuel-efficient and technologically advanced tonnage. The buyer, Athens-based shipowner and operator Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA, managed by the Moundreas family, is known for its expertise in operating older capesize bulk carriers in the period charter market, strategically leveraging their operational know-how and commercial relationships to maximise returns from vintage tonnage. This deal not only reflects Centrofin Management Inc.’s ongoing repositioning within the global bulk and tanker sectors but also demonstrates the continued demand for well-maintained Japanese-built capesize bulk carriers, even those exceeding two decades in service.
26-March-2017
Pacific International Lines (PIL) sold 2012 built capesize bulk carrier 180K DWT MV Pacific Capella for around $27 million. Second-hand bulk carrier prices increased last week due to an increase in BDI Baltic Dry Index. Furthermore, Germany based dry bulk shipowner and operator Conti Shipping sold 2012 Chinese built supramax dry bulk carrier 56K DWT MV Aventurin for $12 million for further trading. 2006 built supramax dry bulk carrier 55K DWT MV Sun Acapulco was sold to a Greek shipowner for around $10 million. Japanese Tsuneishi Group sold 2006 built supramax bulk carrier 52K DWT MV Tenshou Maru to Indian shipowner and operator Great Eastern Shipping.
20-March-2017
Nasdaq-listed Greek shipowner and operator Euroseas bought delayed 82K kamsarmax dry bulk carrier from Chinese shipyard Jiangsu Yangzijiang Shipbuilding Co at 10% reduced price for $22.5 million. Euroseas led by Aristides Pittas found this investment very attractive and instead of terminating the contract Euroseas proceed with the new building of sistership kamsarmax 2016 built M/V Xenia. Nasdaq-listed Greek shipowner and operator Euroseas posted a $17.6 million loss in Q4 2016 and has been active in the sale & purchase (S&P) lately.
20-March-2017
Japanese shipowner and operator Kambara Kisen Co., Ltd has sold another supramax bulk carrier as part of its ongoing fleet optimization strategy, continuing its efforts to modernize a young supramax bulk carrier fleet that currently averages just six years, with the latest transaction involving the 2006-built supramax bulk carrier 52K DWT MV Tenshou Maru, which has been sold to Great Eastern Shipping (GES), India’s largest private dry bulk and tanker shipowner and operator; this marks another step in Kambara Kisen Co., Ltd’s active secondhand sale program in 2025, during which the company has consistently offloaded older tonnage to maintain a high-quality and efficient fleet profile; headquartered in Hiroshima and established in 1903, Kambara Kisen Co., Ltd operates as the maritime transportation division of the Tsuneishi Group and is closely integrated with Tsuneishi Shipbuilding Co., Ltd, benefiting from vertical synergies through ship construction and technical development at affiliated shipyards such as Tsuneishi Zhoushan in China and Tsuneishi Heavy Industries in the Philippines; Kambara Kisen Co., Ltd manages a diversified global fleet that includes handymax, supramax, and kamsarmax bulk carriers, as well as oil tankers and container ships, and has earned a reputation for high operational standards, environmental compliance, and strategic fleet management, while further extending its international presence through Kambara Kisen Singapore Pte Ltd, which serves as a hub for shipowning and management activities focused on environmentally responsible and technically advanced maritime operations.
19-March-2017
Korea Maritime Transport Co (KMTC) is exiting dry bulk market by selling its last bulk carrier 2003 built supramax bulk carrier 52K MV KMTC Challenge (ex M/V New Navigation) for $6 around million. In 2011, Korea Maritime Transport Co (KMTC) bought MV KMTC Challenge (ex M/V New Navigation) from another Korean shipowner and operator Pan Ocean for around $23 million. Currently, Korea Maritime Transport Co (KMTC) is focusing on container ships and has a fleet of 21 container ships.
19-March-2017
17 potential shipowners are inspecting 6 Hanjin Shipping’s dry bulk carriers which are being sold by Korea Development Bank (KDB). Bankrupted South Korean shipowner and operator Hanjin Shipping’s dry bulk carriers are sold via Clarksons Shipping. South Korean shipowner and operator Pan Ocean and Songa Bulk has already bought dry bulk kamsarmaxes. Kamsarmaxes left for sale are 82K DWT M/V Hanjin Paradip, M/V Hanjin Rosario, M/V Hanjin Port Kamsar (built 2012) which are around $20 million each. Korea Development Bank (KDB) also selling capesize dry bulk carriers 179K DWT M/V Hanjin Dangjin, M/V Hanjin Esperance, and M/V Hanjin Rizhao.
19-March-2017
Vintage dry bulk carrier values increasing due to BDI - Baltic Dry Index. Monaco based shipowner and operator Transocean Maritime Agencies sold 2001 Korea built panamax dry bulk carrier 73K DWT M/V Arethusa for $6 million for further trading. Comparing to similar panamax dry bulk carrier 2001 built 72K DWT M/V Ataman was sold for just $3 million to Fujian Ocean Shipping of China. Second-hand tonnage values are increasing day by day in the past weeks. Monaco based shipowner and operator Transocean Maritime Agencies had a fleet of 18 dry bulk carriers.
17-March-2017
BHP (formerly known as BHP Billiton) Copper Mineworkers are on strike in Chile and blocked Coloso Port. As a result of this strike in Chile, copper prices have been rising gradually. At Escondida, unionized workers are in dispute over contract terms and blocking Coloso Port, Chile. BHP Billiton would insist on accessing the Coloso Port.
17-March-2017
Russian based shipowner and operator Anship LLC ordered two (2) coaster size dry bulk carriers at United Shipbuilding Corporation (USC) shipyard for around $17 million. Russian based shipowner and operator Anship LLC ordered Voga Don RSD 49-type coaster bulk carriers which are 140 meters long and can transit the Volga-Don Shipping Canal in Russia through the Caspian Sea. Voga Don RSD 49-type coaster bulk carriers are river type and seagoing ships.
13-March-2017
Riyadh-based tanker and dry bulk shipowner and operator Bahri’s (Bahri, formerly known as the National Shipping Company of Saudi Arabia) subsidiary Bahri Dry Bulk Co LLC chartered in 2006 built panamax dry bulk carrier 75K M/V Danae R from Valerie Ship Management at $10,100 per day over 4 to 7 months. Baltic Dry Index climbed to 979 points and capesize rates climbed by 20% because of coal imports of China. Dubai-based Mideast Ship Management Ltd (JLT) and Bahri Ship Management are the ship manager of Bahri Dry Bulk Co LLC controlled bulk carriers.
13-March-2017
German shipowner and operator Oldendorff Carriers sold post panamax dry bulk carrier 2013 built 95K DWT M/V Conrad Oldendorff to Cobelfret for $19 million. Belgium based Cobelfret renamed the post panamax dry bulk carrier as M/V Lowlands Rise. In August 2016, German shipowner and operator Oldendorff Carriers bought M/V Conrad Oldendorff for $16.45 million from Japanese shipowner Seno Kisen. German shipowner and operator Oldendorff Carriers also sold handy bulk carriers 2011 built sister ships 33K DWT M/V Christiane Oldendorff and M/V Christoffer Oldendorff for $5.5 million each for further trading. In January 2017, Oldendorff Carriers sold post-panamax dry bulk carrier 2011 built M/V Cathrin Oldendorff to Chilean shipowner and operator Ultraocean for $12.5 million.
13-March-2017
Japanese shipbuilder Tsuneshi Shipbuilding is planning to establish a ‘green’ ship recycling facility in the Philippines for a $100 million investment. Japanese Tsuneshi Shipbuilding CEO Kenji Kawano announced to buy a 120-hectare facility in Negros Occidental in the Philippines. Japanese shipbuilder Tsuneshi Shipbuilding has a shipyard in Cebu, Philippines for over 20 years.
10-March-2017
Greek shipowner and operator Angelakos (Hellas) S.A. chartered out two (2) panamax dry bulk carriers 2014 built 81K DWT MV Graecia Nautica and 2002 built 74K DWT MV Africa Graeca. MV Graecia Nautica has been chartered out for around 9 months at $11,500 per day. MV Africa Graeca has been chartered out to Ausca Shipping for around 8 months at $9,250 per day. Currently, Greek shipowner and operator Angelakos Hellas SA has a fleet of 11 dry bulk carriers.
10-March-2017
United Ocean Group sold 2014 built panamax dry bulk carrier 81K MV United Prestige for around $22 million to Greek shipowner. Second-hand panamax bulk carriers’ prices increased. In July 2016 similar panamax dry bulk carrier 2014 built 82K MV Ocean Lord was sold for around $18 million.
4-March-2017
South African tanker and bulker shipowner and operator Grindrod Shipping has been scraping its elderly fleet. Since 2014, shipowner and operator Grindrod Shipping has taken delivery of more than ten (10) vessels. South African tanker and bulker owner and operator Grindrod Shipping has 11 handysize and 4 supramax bulk carriers owned by third parties. These bulk carriers are operated by sister company IVS Bulk (Island View Shipping). Grindrod Shipping has 36 vessels in oceans. In 2016, South African tanker and bulker owner and operator Grindrod announced a net loss of $145 million.
2-March-2017
New York-listed shipowner Diana Shipping chartered out 2011 built panamax dry bulk carrier 75K DWT M/V Diona for $7,200 per day on 1-year charter. $7,200 per day is in line with present spot market conditions for panamax dry bulk carriers.
2-March-2017
Italian shipowner and operator Giuseppe Bottiglieri Shipping Company (GBSC) moves towards a restructuring scheme with moneylenders. Giuseppe Bottiglieri Shipping Company (GBSC) has a somewhat unconventional sort of bankruptcy protection scheme and installments to mortgagers will proceed to be delivered in time. Italian shipowner and operator Giuseppe Bottiglieri Shipping Company’s all dry bulk carriers have been on charter to first-class corporations and all bunker suppliers have been paid. In December 2016, Giuseppe Bottiglieri Shipping Company (GBSC) appealed to Italian courts to grant 180 days to provide a plan for the restructuring of mortgages with moneylenders.
2-March-2017
Koch Industries Commodities Group’s shipping arm Koch Shipping has quietly built up chartered tonnage of 11 capesize fleet. Koch Shipping dry bulk chartering based in Geneva. American giant company Koch Industries Commodities Group is controlled by brothers Charles and David Koch. Koch Shipping originally aimed at charters of 2 to 3 year charters. But, shipowners were reluctant to lock in ships in the current market. Koch Shipping Pte Ltd based in Singapore is wholly owned by Koch Supply & Trading LLC Delaware USA. Koch Carbon which is dealing mostly with tonnage panamax and handysize bulk carriers. Koch Industries Commodities Group shipping arm Koch Shipping chartered in capesize dry bulk carrier M/V New Orleans from New York-listed shipowner and operator Diana Shipping for $11,750 per day. In October 2016, Koch Shipping chartered in capesize dry bulk carrier 180K DWT Dream Canary for 12 to 16 months at $10,500 per day from Nissen Kaiun. In September 2016, Koch Shipping chartered in capesize dry bulk carrier 175K DWT M/V ABY Scarlett $8,500 per day for 12 to 16 months from shipowner Augustea. In December 2016, Koch Industries Commodities Group shipping arm Koch Shipping also chartered in NB capesize dry bulk carrier 208K DWT M/V San Francisco (built 2016), at $11,750 per day.
2-March-2017
Hong Kong-listed shipowner and operator Courage Marine sold its last supramax dry bulk carrier 2011 built 57K DWT MV Zorina for around $7 million to Universal Ship Investment Corp. After selling MV Zorina, Courage Marine will be repaying the bank loan for ships. In January 2016, Hong Kong-listed ship owner and operator Courage Marine raised around $12 million to use as general working capital. The preponderance shares of Hong Kong-listed Courage Marine is controlled by Paul Suen Cho Hung.
2-March-2017
Tote Maritime’s US-flagged MV El Faro apparently experienced a cargo shift during Hurricane Joaquin in November 2015. Marine survey firm National Cargo Bureau’s chief Philip Anderson boosted attention regarding the lashing of moving cargo on MV El Faro. Cargo shift may have prompted the disturbance that sank MV El Faro.
2-March-2017
Arne Blystad led Songa Bulk is looking to raise more cash $50 million to continue its acquisition efforts in order to fund asset play. In 2016, Arne Blystad led Songa Bulk was listed in Norway Oslo OTC (Over The Counter) market and currently working with Fearnley Securities and Clarksons Platou Securities to raise funds. Up to now, Arne Blystad led Songa Bulk has now spent around $66 million on dry bulk carriers which price tags are attractive. Norwegian Songa Bulk has a fleet of five dry bulk carriers after the purchase of the panamax dry bulk carrier 2011 built 80K DWT M/V Flama for $14 million.