27-September-2017
Taiwanese container line operator Yang Ming is acquiring $48 million stocks of sister company Kuang Ming Shipping. BOD (Board of Directors) of Yang Ming approved to buy around 100 million shares at TWD 10 each. After this deal, Taiwanese container line operator Yang Ming will own 98.56% of sister company Kuang Ming Shipping. Yang Ming also buying 100% shares of Kuang Ming Liberia Corp. for $15 million.
26-September-2017
The Foremost Group, headquartered in New York, has recently commissioned the construction of two 180K DWT capesize bulk carriers at Shanghai Waigaoqiao Shipbuilding, a CSSC-affiliated shipyard. This order is an addition to the company’s previous orders at Waigaoqiao Shipbuilding, which include two 180K DWT bulk carriers in June and two 85K DWT kamsarmax bulk carriers at Japan’s Oshima Shipbuilding in August. Foremost Group has a long-standing relationship with Waigaoqiao Shipbuilding, evidencing their status as a repeat customer. Since 2002, the shipyard has delivered over ten bulk carriers to Foremost Group, signifying a robust and ongoing partnership. Presently, the Foremost Group’s operational fleet consists of 18 bulk carriers, reflecting its substantial role in the maritime shipping industry.
25-September-2017
Bangladeshi shipowner and operator Meghna Group bought 2006 built supramax dry bulk carrier 56K DWT MV Santa Phoenix for around $12 million from Sanzo Enterprise of Japan. In 2016, Dakha based shipowner and operator Meghna Group bought sister ship 2006 built supramax dry bulk carrier MV Fleet Phoenix for around $9 million. In March 2017, Bangladeshi shipowner and operator Meghna Group bought MV Honest Spring. In May 2017, Bangladeshi shipowner and operator Meghna Group bought MV Marjatta P. Meghna Group has a fleet of 7 dry bulk carriers and 14 small tankers.
23-September-2017
Taiwan Navigation Company (TNC), a shipowner and operator headquartered in Taipei, has made another strategic move in its fleet optimization plan by placing a new order with Japanese shipyard Oshima Shipbuilding. This contract involves the construction of two Ultramax bulk carriers with a deadweight capacity of 62,000 tons each. The combined value of this contract is $51 million, and the vessels are scheduled for delivery in 2020 and 2021. This order follows a previous one placed by Taiwan Navigation Company (TNC) in May for two 62K DWT bulkers from Oshima Shipbuilding. These acquisitions are part of TNC’s commitment to modernizing and optimizing its fleet. Currently, Taiwan Navigation Company (TNC) operates a fleet consisting of 20 ships, and two 80K DWT newbuildings are set to join the fleet in October, further reinforcing its presence in the maritime industry.
21-September-2017
Greek shipowner and operator Allseas Marine is selling an eight-year-old panamax dry bulk carrier. Michael Bodouroglou-led Allseas Marine is selling 2009 built 75K DWT M/V Dream Seas for $13.5 million. M/V Dream Seas was built in Chinese shipyard Hudong-Zhonghua Shipbuilding. Michael Bodouroglou’s New York-listed Paragon Shipping bought M/V Dream Seas (ex M/V Iorana) from Anangel Maritime Services for $41 million in 2010.
14-September-2017
New York-listed dry bulk shipowner and operator Scorpio Bulkers plans $50 million share buyback from cash pile. Scorpio Bulkers’ BOD (board of directors) authorized the repurchase of up to $50 million of the common stock in the open market. Scorpio Bulkers has 75 million shares in the market. Currently, Scorpio Bulkers’ stock price increased to $7.
13-September-2017
Greek tanker owner and operator Atlas Maritime signifies returning to the dry bulk sector after ten years. Greek shipowner Leon Patitsas led Atlas Maritime acquired kamsarmax dry bulk carrier. Atlas Maritime exited the dry bulk sector in 2007.
5-September-2017
Turkey-based Karadeniz Powership sold 1996 built 109K DWT MT Karadeniz Powership Esra Sultan for around $7.5 million to Bangladesh scrapyard. In 2016, Karadeniz Powership bought MT Karadeniz Powership Esra Sultan (ex OBO MT SKS Tana) for around $7 million. In April 2017, Karadeniz Powership sold 1997 built 109K DWT MT Karadeniz Powership Yurdanur Sultan to Bangladesh scrapyard for around $7 million. In 2014, Karadeniz Powership bought MT Karadeniz Powership Yurdanur Sultan for around $15 million.
3-September-2017
Danish shipowner and operator Clipper Group has been trying to appoint a new CFO (Chief Finance Officer). Clipper Group published that current CFO Flemming Steen is quitting. Clipper Group is a major player in the dry bulk sector operating a fleet of around 130 handysize and supramax dry bulk carriers.