26-November-2017
MPC Container Ships, the rapidly expanding feeder connoisseur founded by Germany’s esteemed MPC Capital, has unveiled a transaction for the procurement of an assortment of feeder container vessels, valued at $130 million. The divestment comes from Hong Kong and South Korean shipowner and operator Cido Shipping who is relinquishing their collection of ten container ships, signaling their departure from this particular domain. The distinct vessels transitioning to MPC Container Ships’ ownership include the 2007-forged MV Ocean Arrow and MV MCC Dhaka, the 2008-built MV Ocean Blue, and the 2009-built MV Maersk Warsaw, MV Maersk Westport, and MV Maersk Weymouth, in conjunction with the 2010-built MV Maersk Wiesbaden, MV Maersk Winnipeg, MV Maersk Wolfsburg, and MV Maersk Wolgast. Having made its maiden appearance in April, MPC Container Ships has swiftly amassed a flotilla ranging from 1,000 TEU to 3,000 TEU. Presently, their digital portal showcases a fleet of 23 ships, and this recent procurement elevates their tally to 33 ships, marking a significant milestone as they journey towards their ambitious goal of possessing 100 feeder conatiner ships. Merely a week prior, MPC Container Ships garnered an impressive $177 million through an exclusive issuance of fresh shares, funds which they have earmarked for fleet augmentation. Hong Kong and South Korean shipowner and operator Cido Shipping intends to allocate the revenue from this monumental sale towards the acquisition of vessels in a contrasting niche.
21-November-2017
Under the esteemed direction of Robert Kuok, Singapore-based shipowner and operator PCL (Pacific Carriers Ltd) has embarked on an elegant diversification venture, acquiring its second vessel this year. Singapore-based shipowner and operator PCL (Pacific Carriers Ltd) has procured the 50K DWT tanker MT Fidias for a sum slightly shy of $17 million. The transaction was facilitated with Ionia Management, an establishment overseeing a select number of venerable tankers. This acquisition signifies Ionia’s graceful exit from its engagements within the MR tanker domain. Predominantly recognized for its prowess in the dry bulk domain, Singapore-based shipowner and operator PCL (Pacific Carriers Ltd) has refrained from expanding its bulker fleet in the preceding biennium, casting its discerning gaze upon the MR tanker sector instead. Last September, shipowner and operator PCL (Pacific Carriers Ltd) elegantly incorporated another tanker MT Plover Pacific (ex MT Box), acquired from Alma Maritime at a price tag of $20 million.
15-November-2017
British Virgin Islands-registered Ukraine-based ship operator Phaethon International Company Ltd. chartered in 2006 built panamax bulk carrier 73K DWT MV Naias from New York-listed shipowner and operator Diana Shipping for a gross charter rate of $10,000 per day, minus a 5% commission. Ukraine-based ship operator Phaethon International chartered MV Naias for 15 and 18 months. Ukraine-based ship operator Phaethon International will take the delivery of MV Naias on 24 November. Ukraine-based ship operator Phaethon International will pay around $4.35 million for the minimum length of the time charter.
11-November-2017
Arrested 2011 built handy bulk carrier 35K DWT MV Trading Fabrizia which has been lying in Kingston, Jamaica since 2016, will be sold at auction. Italian dry bulk carrier MV Trading Fabrizia has been left in Kingston, Jamaica.
10-November-2017
Oslo over the counter market listed GoodBulk is planning to apply to be listed in New York in 2018. John Michael Radziwill led GoodBulk was offered to public in Norway earlier in 2017 and grew in a very fast way. GoodBulk is combining powers with CarVal. CarVal dry bulk carriers will bring down the average age of the GoodBulk fleet while adding additional earnings power. GoodBulk reported seven (7) firm capesize 180K DWT dry bulk carriers secured from CarVal:
- M/V RS Iron Range (2011)
- M/V Maka Franz (2009)
- M/V Belle Taine (2010)
- M/V Minnetonka (2012)
- M/V Minnehaha (2012)
- M/V Itasca (2012)
- M/V Silver Surfer (built 2013)
6-November-2017
Bangladeshi shipowner and operator Akij Shipping Line has been expanding its fleet. Currently, Akij Shipping Line fleet consists of two (2) handymax dry bulk carriers and three (3) supramax dry bulk carriers. Bangladeshi shipowner and operator Akij Shipping Line’s all current fleet was built in Japan.
In February 2017, Akij Shipping Line bought 2005 built supramax dry bulk carrier 56K DWT MV Darya Bhakti for around $8 million. In April 2017, Akij Shipping bought 2002 built supramax dry bulk carrier 53K DWT M/V Alitis for around $7 million.
6-November-2017
New York-listed supramax and ultramax shipowner and operator Eagle Bulk Shipping (EGLE) reported a net loss of $10.3 million in Q3 2017 versus a $19.4 million loss in Q3 2016. Q3 2017 net loss of $0.15 per share was deeper than the $0.10 per share loss consensus. New York-listed supramax and ultramax shipowner and operator Eagle Bulk Shipping reported Q3 2017 operating profit of $7.3 million and revenue $62.7 million. Improving dry bulk markets resulting in higher charter rates and more voyages, coupled with a larger more owned fleet and chartered-in vessels increased the Eagle Bulk Shipping revenue. Eagle Bulk Shipping CEO Gary Vogel believes the company will be in an even better position to deliver above-market TCE (time charter equivalent) rates and returns. Eagle Bulk Shipping CEO Gary Vogel is optimistic about a recovery in the dry bulk shipping.
6-November-2017
Greek shipowner and operator New Vision Shipping sold 2003 built supramax dry bulk carrier 53K DWT M/V New Era to Bangladeshi shipowner and operator Akij Group for $9.7 million. In 2015, New Vision Shipping bought Japanese built supramax dry bulk carrier 53K DWT M/V New Era (ex M/V Rea) for $8.5 million.
In June 2017, Greek shipowner and operator New Vision Shipping bought another 2005 built supramax dry bulk carrier 56K DWT M/V New Cosmos (ex M/V Santa Helena) from Japanese Mitsui & Co for $7.2 million.
In November 2017, Greek shipowner and operator New Vision Shipping bought 2011 built handymax dry bulk carrier 45K DWT M/V Mastro Mitros (ex M/V Star Capella) for $4.75 million.
6-November-2017
New York-listed Star Bulk Carriers has collected $50 million from the bond market to refinance debt due in 2019. Star Bulk Carriers has a baby bond due for maturity in May 2019 which is covered by the publication of the new paper. In Q2 2017, Petros Pappas led Star Bulk Carriers reported total liabilities of $1.07 billion, and a cash of $226 million.
3-November-2017
Bangkok-based shipowner and operator Precious Shipping lost $32 million arbitration battle and have to pay award to Chinese shipyard over claims that a series of dry bulk carriers did not meet fuel-saving specifications. Chinese shipyard Taizhou Sanfu Ship Engineering won the arbitration battle and London-based arbitrators ruled that Precious Shipping could not withhold payments because the fuel consumption of super-eco dry bulk carriers was higher than specified in the contracts. Precious Shipping CEO Khalid Hashim explained that consumption was as per specification during the shop test but sea trials showed that fuel consumption was between 11% and 17% above what was warranted in the contract. Precious Shipping accepts the arbitration ruling and won’t be appealing.
1-November-2017
New York-listed and Polys Hajioannou-led Safe Bulkers reported a profit for the first time after 3 years in Q3 2017. In Q3 2017, Safe Bulkers reported net income as $6.73 million which was due to climbing freight rates and Safe Bulkers gains from a debt rescheduling. New York-listed Safe Bulkers reported net revenue of $37.3 million (38% increased) due to climbing freight rates. Polys Hajioannou-led Safe Bulkers reported a time-charter equivalent rate of $10,419 per day.
1-November-2017
Norwegian shipowner and operator Fonnes Shipping sold 1993 built coaster size dry bulk carrier 2.3K DWT MV Bon Vivant (ex MV Vestfjord) to Latvian shipowner Bon Vivant SIA.