31-May-2017
Bulker and container shipowner and operator, Hong Kong-listed, Sinotrans Shipping secured around $4 million from selling sister company to its parent group Sinotrans & CSC. $4 million will be utilized for general working capital. Chinese Sinotrans & CSC controls 68% of Hong Kong-listed Sinotrans Shipping.
31-May-2017
Norwegian shipowner and operator Songa Bulk which is led by Arne Blystad, has raised $75 million to expand its fleet of bulk carriers after successfully completing a bond issue. There was a strong demand from “high-quality investors” for Songa Bulk’s bond issue with the maturity date is June 2022. $75 million will be used to finance to buy more dry bulk carriers. Norwegian shipowner and operator Songa Bulk has already bought 10 dry bulk carriers.
29-May-2017
Norwegian Arne Blystad led Songa Bulk is planning to raise more money for further dry bulk carrier purchases. Songa Bulk is planning a deal to sell 5-year bonds. Norwegian Arne Blystad is arranging a series of investor meetings about fixed-income debt and then issue a bond and use the proceeds to finance the acquisition of additional dry bulk carriers. Currently, Songa Bulk has grown a fleet of 10 dry bulk carriers.
25-May-2017
Canadian shipowner and operator Algoma Central accumulated more capital for fleet renewal by selling off Delta Hotels Marie Waterfront for around $5 million. Canadian shipowner and operator Algoma Central’s determination to exchange its real estate is a consequence of a distinct strategic goal. In April 2017, Algoma Central deposited around $19 million from trading office property and all cash will be utilized for fleet renewal.
25-May-2017
Robert Kuok backed shipowner and operator Malaysian Bulk Carriers (Maybulk) confirms sale of one of its oldest and smallest bulk carriers for further trading. 2006 built 32K DWT M/V Alam Sakti is sold for further trading. M/V Alam Sakti will be delivered in June 2017. Malaysian Bulk Carriers (Maybulk) reported $7.6 million in Q1 2017 with an average daily time charter equivalent (TCE) rate of $6,421.
25-May-2017
Danish shipowner and operator Dampskibsselskabet NORDEN A/S’s handy bulk carrier M/V Nord Quebec had a deadly incident. Canada’s Transportation Safety Board has deployed a team of inspectors after a deadly incident in 2013 built handy bulk carrier 36K DWT M/V Nord Quebec during berthing at Trois-Rivieres Port in Quebec, Canada. Canada’s Transportation Safety Board will collect data and evaluate the circumstance of a deadly incident. Onboard of MV Nord Quebec, a 38-year-old Filipino crewman was struck by a mooring line in Quebec, Canada.
25-May-2017
Glencore Agriculture chartered in 2013 built kamsarmax dry bulk carrier 81K M/V Astarte for 17 months $9,000 per day from Simeon Palios-led New York-listed Diana Shipping. Glencore Agriculture charter will begin on June 12, 2017. M/V Astarte charter is one of the longest dry bulk carrier charter since March 2017. In April 2017, Simeon Palios-led New York-listed Diana Shipping bought M/V Astarte from Greek shipowner Thenamaris. Diana Shipping also chartered out 2004 built panamax bulk carrier 74K M/V Erato to Phaethon International for $7,250 per day. Currently, Baltic Exchange estimates panamax spot rates at $6,820 per day but panamax dry bulk carrier rates are expected to rise in the near future.
25-May-2017
Greek shipowner and operator Primerose Shipping is selling its oldest 2005 Japanese built panamax dry bulk carrier 77K DWT MV Lord Byron for around $11 million. MV Lord Byron is coming off a 6-month charter at $7,400 per day. In March 2017, similar panamax dry bulk carriers were around $5 million. In 2004, Greek shipowner and operator Primerose Shipping bought MV Lord Byron as a resale for around $40 million and accumulated cash during the boom years in shipping.
25-May-2017
German shipowner and operator Reederei H Vogemann booked four handy bulk carriers 38K DWT at Taizhou Kouan Shipyard in China. Bulk carriers will be delivered from October 2018 through 2019. German shipowner and operator Reederei H Vogemann is led by Jens-Michael Arndt.
25-May-2017
Ecuadorian police detained 25 crew members in 1996 built handysize bulk carrier 27K DWT MV Kraken I. The ship was transporting 5 tonnes of cocaine and controlled by Marshall Islands-registered Dellwood Marine.
25-May-2017
Thoresen Shipping acquired 2006 Japanese built supramax dry bulk carrier 54K DWT M/V Karaweik for around $8 million. CEO Chalermchai Mahagitsir of Thoresen Shipping explained that M/V Karaweik delivered last week. Thoresen Shipping has fleet 26 dry bulk carriers and average daily time charter equivalent (TCE) rate of $7,015 on Q1 2017.
19-May-2017
South Korea based shipowner and operator Pan Ocean is buying 2 Japanese 2012 built kamsarmax dry bulk carriers from bankrupted shipowner Hanjin Shipping. South Korea based shipowner and operator Pan Ocean is buying 82K dry bulk kamsarmax bulk carriers M/V Hanjin Hadong and M/V Hanjin Port Kamsar for $21 million each. Clarksons is sale and purchase brokers of 6 dry bulk carriers on behalf of Korea Development Bank (KDB).
15-May-2017
John Fredriksen Golden Ocean Group is going to acquire 14 dry bulk carriers of Greek shipowner and operator Quintana Shipping for around $364 million. Last week, Greek shipowner and operator Quintana Shipping withdrew plans for New York IPO(Initial Public Offering). Currently, the New York-listed Golden Ocean Group has 70 dry bulk carriers. Golden Ocean Group is going to pay LIBOR plus 3.1% interest rate and filed to sell $60 million of its common shares.
9-May-2017
Taipei-based shipowner and operator Taiwan Navigation Company (TNC) has recently revealed its order for two 62,000 deadweight tons (DWT) ultramax bulk carriers from Japan’s Oshima Shipbuilding. Each ultramax bulk carrier comes with a price tag of $25.5 million, although specific details regarding the order have not been disclosed beyond the pricing. Taiwan Navigation Company’s (TNC) fleet currently consists of 21 bulk carriers, which includes a mix of six panamax bulk carriers, two supramax bulk carriers, and thirteen ultramax bulk carriers. This order signifies their continued commitment to fleet expansion and modernization within the maritime industry.
8-May-2017
Founder of Parakou Shipping CC Liu has passed away. Currently, Parakou Shipping has a fleet of 20 dry bulk carriers and tankers. In 1971, CC Liu began working for Ocean Tramping. Eventually, CC Liu acquired Parakou Shipping from a law firm in 1985.
7-May-2017
Chinese Cosco Shipping Bulk has chartered out commodity giant Bunge 2017 capesize dry bulk carrier 179K DWT M/V Xin Li Hai for $16,200 per day for 8 to 11 months. One-year period charter rates for capesize dry bulk carriers are now higher than spot rates of $11,800.
7-May-2017
Greek shipowner and operator Diana Shipping chartered out 2010 built capesize dry carrier 178K DWT M/V New York at for 6 months at $14,450 per day to US-based Koch Shipping. In 2016, M/V New York was chartered out to Rio Tinto for 1 year at $5,200 per day.
7-May-2017
Mikal Boe led new venture Dynamic Cargo Carrier (DCC) Bulk Transport is tripling its fleet to 18 dry bulk carriers after a deal with the European pension fund. Singapore based Dynamic Cargo Carrier (DCC) and Greek Halkias Group reveals that it has signed a deal with the fund to participate in long-term time charters involving up to 12 from handysize to ultramax dry bulk carriers. Currently, Dynamic Cargo Carrier (DCC) Bulk Transport controls 6 chartered-in dry bulk carriers and planning to acquire its own tonnage. Dynamic Cargo Carrier (DCC) has been signing up CoA and forward cargo contracts with large alumina, fertilizer, and cement companies.
7-May-2017
Seoul based H-Line Shipping send demolition 1992 built capesize dry bulk carrier 148K DWT MV Pos Challenger for $375 per ltd (light displacement tonnage) or $6.6 million to Indian Scrapyard. Demolition ship prices falling and recently dry bulk carriers were sold for close to $400 per ldt (light displacement tonnage). In April 2017, shipowner and operator H-Line Shipping sold similar1992 built capesize bulk carrier 151K DWT for $398 per Idt (light displacement tonnage) or $7 million. Currently, Korean shipowner H-Line Shipping is a dominant capesize operator and has a fleet of 32 ships.
7-May-2017
Louis Dreyfus & Cie chartered in 2010 built capesize dry bulk carrier 178K DWT M/V Great Yuan from Chinese Sinotrans Shipping for 1 year at $15,500 per day. In 2014, Chinese shipowner and operator Sinotrans Shipping bought M/V Great Yuan for $49 million.
7-May-2017
Chinese Fred Cheng led shipowner and operator Shinyo International acquired two (2) capesize and one (1) panamax dry bulk carriers for around $45 million from distressed Shanghai-based Zhong An Shipping Co. Zhong An Shipping Co is led by Shi Kaicheng. 2003 built capesize dry bulk carrier 177K DWT MV Lin Jie, 2011 built panamax dry bulk carrier 79K DWT MV King Peace and 2002 built 177K DWT MV King Sail.
6-May-2017
Canadian shipowner and operator Algoma Central reported a net loss of CAD 19 million in Q1 2017. In Q1 2017, Algoma Central reported a revenue of CAD 48.7 million. Algoma Central’s total revenue increased by 20% due to salt cargoes. CEO Ken Bloch Soerensen led Algoma Central anticipates a sustainable growth in dry bulk earnings. Toronto Stock Exchange-listed Algoma Central’s earnings of ocean self-unloaders with Marbulk joint venture were down 76%.
6-May-2017
One of the largest shipping lender Deutsche Bank cut credit impairments by 56% in Q1 2017. German shipping lender Deutsche Bank’s revenues improved due to improved production in the metals, mining, oil, and gas portfolios. Chinese HNA Group owns a stake of 10% in Deutsche Bank.
5-May-2017
Mumbai-based tanker and bulker shipowner Great Eastern Shipping reported a net loss of $5 million in Q1 2017. In April 217, Great Eastern Shipping bought an MR product tanker and continues buying second-hand ships. Currently, Mumbai-based tanker and bulker shipowner Great Eastern Shipping has a fleet of 29 tankers and 15 dry bulk carriers.
3-May-2017
Norden CEO Jan Rindbo commented that dry boom to cool down during 2017 and reflect on ship values. In Q1 2017, dry bulk rates skyrocketed by Chinese iron ore and coal imports which were faster than expected. Norden CEO Jan Rindbo believes that China would not be able to sustain growth rates until Q4 2017 and slow demand prevail in the dry bulk market. Baltic Dry Index and FFA markets triggered secondhand panamax dry bulk carriers now worth 28% more than January 2017. Norden CEO Jan Rindbo believes that the dry bulk market is getting towards the end of a delivery boom in 2018. Denmark based DS Norden reported a profit of $1 million in Q1 2017 with the help of tanker division.
3-May-2017
Hong Kong Stock Exchange (HKSE) listed Courage Marine canceled the sale of bulk carrier in order to sustain company listing at Hong Kong Stock Exchange (HKSE). Courage Marine will be removed from Hong Kong Stock Exchange listing if the shipowner sells the last ship in the fleet. Hong Kong Stock Exchange (HKSE) denounced that Courage Marine would not have satisfactory assets. In February 2017, Courage Marine agreed to sell a 2011 supramax dry bulk carrier 57K DWT MV Zorina for around $7 million. Courage Marine has been communicating with the buyer for permissible termination of the ship sale.
2-May-2017
Korea Shipping Corporation (KSC) subsidiary, Seoul-listed shipowner, and operator Korea Line Corporation (KLC) ordered 4 dry bulk carriers for $98 million. Each handymax dry bulk carrier has a price tag of $24 million which will be delivered till 2020. Korea Line Corporation (KLC) subsidiary Korea Shipping Corporation will use these handymax dry bulk carriers for coal transport.