26-December-2018
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), subsidiary of Shandong Marine Group Ltd., is plotting to order two (2) newcastlemax dry bulk carriers at state-owned Chinese Shipyard Qingdao Beihai Shipbuilding Industry for delivery in 2020 and 2021. Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC) new-building orders are backed by Brazilian mining giant Vale charters. Shandong Shipping Corporation (SDSC) and Chinese Shipyard Qingdao Beihai Shipbuilding Industry will sign the contract at the beginning of 2019. Each newcastlemax dry bulk carrier will cost around $55 million and scrubber-ready built to the International Maritime Organization’s newer Tier III standards.
26-December-2018
Taiwan Navigation Company (TNC) is strategically expanding its kamsarmax bulk carrier fleet with a recent order placed in Japan for four 80,000 deadweight ton (DWT) ships. This order has been evenly split between Oshima Shipyard and Namura Shipbuilding, with each shipyard responsible for building two kamsarmax bulk carriers. These kamsarmax bulk carriers are designed to meet International Maritime Organization (IMO) Tier III compliance standards and will be equipped with scrubbers for environmental considerations. The delivery of these kamsarmax bulk carriers is anticipated in 2020, and while the exact pricing details have not been disclosed, this significant order marks a significant step forTaiwan Navigation Company (TNC). Currently, Taipei-based shipowner and operator Taiwan Navigation Company (TNC) operates a diverse fleet comprising not only kamsarmax bulk carriers but also panamax bulk carriers, handymax bulk carriers, five product carriers, nine tugboats, a ferry, and two container ships on time charter. These new ship orders, which are the first for Taiwan Navigation Company (TNC) this year, will bring their fleet size to approximately 40 ships, reflecting their commitment to strategic growth and modernization within the maritime industry.
25-December-2018
Atlantica Shipping AS is planning to sell 82K DWT Hull No. 199 to its shareholder German Oldendorff Carriers for around $26 million. 82K DWT Hull No. 199 was ordered by German Oldendorff Carriers as newbuilding at Chinese Shipyard Jiangsu Hantong but then sold the contract last year to Atlantica Shipping AS for $24 million. Oslo-based Atlantica Shipping AS was established in January 1997. Atlantica Shipping AS is a ship owning company that aims to acquire ships with long-term commitments to first-class charterers and act as the owner and the commercial manager. Norway Oslo-based Atlantica Shipping AS is owned by German Egon Oldendorff and Greek A.M. Nomikos. German Oldendorff Carriers owns 176 dry bulk carriers and operates 524 dry bulk carriers. Oslo-based shipowner Atlantica Shipping AS has a fleet of about 20 ships.
25-December-2018
Geneva-based Chinese grain trader COFCO International joins ABCD’s digital shipping initiative for the use of blockchain and AI in shipping dry bulk cargoes. ABCD of the shipping industry that represents Archer Daniels Midland (ADM), Bunge, Cargill and Louis Dreyfus Co (LDC). In October 2018, Archer Daniels Midland (ADM), Bunge, Cargill, and Louis Dreyfus Co (LDC) has declared a strategy to systematize data and digitalize global agricultural shipping transactions. COFCO International joined Archer Daniels Midland (ADM), Bunge, Cargill and Louis Dreyfus Co (LDC) plan in order to build a reliable, safe, and effective platform and reconstruct global agricultural trade operations. AI (Artificial Intelligence) project intends to drive more all-embracing safety, dependability, efficiency also clarity by digitizing manual, paper-based processes attached to agreements, receipts, and payments, with a more contemporary, digitally based method. Chinese grain trader COFCO International and ABCD joint venture is endeavoring to diminish the time regularly consumed on old-fashioned paper and data processing. In 2017, COFCO International marketed over 100 million tons of commodities with earnings of $34 billion.
25-December-2018
Chinese shipowner and operator CSC Phoenix submits the only bid and wins for two handysize dry bulk carriers of China Minsheng Bank. Handysize dry bulk carriers 2009 built 22K DWT MV Zhang Hen Hai and 2010 built 23K DWT MV Zhang Ling Hai were auctioned on an Alibaba platform. Chinese shipowner and operator CSC Phoenix won the auction.
MV Zhang Hen Hai and MV Zhang Ling Hai were constructed at Chinese Shipyard Zhejiang Changhong Shipbuilding. Previously, MV Zhang Hen Hai and MV Zhang Ling Hai were on bareboat charter to CSC Phoenix since March 2017 with options to acquire at the end of the charter period. China Minsheng Bank preferred to put MV Zhang Hen Hai and MV Zhang Ling Hai on an auction platform managed by Alibaba at the beginning of December 2018. Chinese shipowner and operator CSC Phoenix has a fleet of 27 vessels.
25-December-2018
Japanese shipowning giant K Line (Kawasaki Kisen Kaisha) appointed new CEO Yukikazu Myochin. New CEO Yukikazu Myochin will replace current CEO Eizo Murakami on April, 2019. CEO Eizo Murakami will become chairman and replacing Jiro Asakura. Japanese shipowner K Line (Kawasaki Kisen Kaisha) will be celebrating the 100th anniversary in April 2019 and strengthens its management. 57 years old Yukikazu Myochin will be the next Chief Executive Officer of Japanese shipowning giant K Line (Kawasaki Kisen Kaisha). New CEO Yukikazu Myochin joined K Line (Kawasaki Kisen Kaisha) in 1984. Diversified giant shipowner K Line (Kawasaki Kisen Kaisha) reported a $217 million loss in the first 6 months of 2018 due to weak market conditions.
25-December-2018
Greek shipowner and operator New Vision Shipping acquired 2010 built supramax dry bulk carrier 55K DWT MV Luisia Colossus from Japanese shipowner K Line (Kawasaki Kisen Kaisha) for $14 million.
In November 2018, New Vision Shipping SA sold 2005 Japanese built supramax dry bulk carrier 56K DWT MV Abdul Hamid (ex-New Kosmos) for $11.15 million to Gurita Lines of Indonesia. New Vision paid only $7.2 million for MV New Kosmos (now trading as MV Abdul Hamid) in June 2016.
Currently, Greek shipowner and operator New Vision Shipping has a fleet of three (3) dry bulk carriers with an average of 8 years.
24-December-2018
Simeon Palios-led New York-listed dry bulk shipowner and operator Diana Shipping chartered out 2010 kamsarmax dry bulk carrier 82K DWT MV Myrsini at $12,750 per day for 10 to 12 months to Glencore Agriculture. Diana Shipping is expected to earn around $3.83 million in revenue. Daily time charter rates for kamsarmax dry bulk carriers are averaging $14,500. Previously, 82K DWT MV Myrsini was chartered out to German electric and gas supplier RWE at $8,650 per day.
20-December-2018
Nasdaq-listed shipowner and operator Eagle Bulk Shipping (EGLE) is selling one of its oldest supramax dry bulk carriers in the latest step of a fleet renewal program. Eagle Bulk Shipping is selling 2001 built supramax dry bulk carrier 50K DWT MV Condor for further trading to an Indonesian shipowner for around $6.8 million. Previously in December 2018, another 2000 built supramax dry bulk carrier 52K DWT MV Star Delta was sold for $6.1 million. Nasdaq listed Eagle Bulk Shipping has now sold 11 vintage bulk carriers since it began a fleet renewal programme. Meanwhile, Eagle Bulk Shipping has bought 13 modern ultramax dry bulk carriers and invested in scrubbers to meet IMO 2020 emissions laws.
20-December-2018
Greek shipowner and operator Dominion International acquired 2011 built kamsarmax 81K DWT MV India Vision (ex MV Trade Vision). 81K DWT MV India Vision (ex MV Trade Vision) was built at Guangzhou Longxue. Ioannis Chandris led Dominion International has not been active in S&P market for several years. Immediately, Dominion International delivered MV India Vision (ex MV Trade Vision) in M2M Management Panamax Pool. Dominion International was established in 1969 in Piraeus under the management of a JD Chandris. 81K DWT MV India Vision (ex MV Trade Vision) was the last vessel from the sale of 26 dry bulk carriers and tankers in the bankrupt Greek Toisa Ltd.
19-December-2018
Herman Billung led Capesize Chartering Ltd (CCL)’s capesize dry cargo fleet hits the 100-ship mark. Capesize Chartering Ltd (CCL) pool was established in 2016 by four leading shipowners:
- Star Bulk Carriers
- Bocimar
- Golden Ocean Group
- C Transport Maritime
19-December-2018
New York-listed Genco Shipping & Trading has sold three (3) vintage panamax bulk carriers 1999 built 73k DWT MV Genco Beauty, MV Genco Knight, and MV Genco Vigour for total $19 million. MV Genco Beauty, MV Genco Knight, and MV Genco Vigour will be delivered to their new owners by the end of January 2019. New York-listed Genco Shipping & Trading has seen disposing old tonnage and continues to renew its fleet. In 2018 New York-listed Genco Shipping & Trading has acquired six (6) modern capesize and ultramax dry bulk carriers. Genco Shipping & Trading has invested in exhaust gas scrubbers for IMO 2020 rules. Genco Shipping & Trading’s fleet is managed by Genco Ship Management LLC.
19-December-2018
Switzerland based Massoel Shipping’s 2001 built handymax dry bull carrier 47K DWT MV Glarus was attacked off Bonny Island, Nigeria and 12 of 19 crew kidnapped. Geneva-headquartered Massoel Shipping has informed that contact made with pirates. Crew members were being kept together and are safe. MV Glarus is now safely alongside at Port Harcourt, Nigeria with the remaining 7 crew members on board. Switzerland’s Massoel Shipping’s first and absolute priority being the safe release of the crew members. Nigerian media reported that a search and rescue (SAR) operation had begun. Nigerian Maritime Academy said the mission has been launched for the 12 kidnapped crew members. Nigerian navy said it had begun an investigation that will lead to the rescue of the seafarers. 47K DWT MV Glarus was carrying wheat between Lagos and Port Harcourt when it was attacked by pirates.
19-December-2018
Peter Dohle Schiffahrts (PDS) and NovaAlgoma Short Sea Carriers (NASC) have combined their teams in order to create the world’s largest mini-grabber pool DNA Shipping. DNA Shipping will begin operations in October 2018. NovaAlgoma Short Sea Carriers (NASC) has contributed 12 dry bull carriers and Peter Dohle Schiffahrts (PDS) has contributed 14 dry bull carriers. DNA Shipping will focus on mini-grabbers between around 15,000 DWT. Peter Dohle Schiffahrts (PDS) and NovaAlgoma Short Sea Carriers (NASC) will seek consolidation to the fragmented MPP and mini-bulker markets. DNA Shipping will persuade other shipowners to join the DNA Pool for the commercial management of mini dry bulk carriers. NovaAlgoma Short Sea Carriers (NASC) is a joint venture of Algoma Central Corporation of Canada and Nova Marine Holdings of Switzerland.
19-December-2018
South Korean ship owner and operator Polaris Shipping is arguing against a South Korean government’s decision to search for the wreckage of the sunken Very Large Ore Carrier (VLOC) 1993 built 266K DWT MV Stellar Daisy. Brazilian mining giant Vale controlled MV Stellar Daisy suffered catastrophic structural failure and sank at a depth of 3,000 meters in the ocean while fully laden with a cargo of iron ore heading from Brazil to China in March 2017. The search of MV Stellar Daisy had been approved by South Korean President Moon Jae In. MV Stellar Daisy search decision was made after lobbying from families of the 22 crew members that died in the accident. South Koreans hope the voyage data recorder of MV Stellar Daisy could be recovered in order to uncover tragic incident. South Korean ship owner and operator Polaris Shipping does not want an underwater wreck survey to go ahead.
19-December-2018
Nasdaq-listed Greek shipowner and operator Seanergy Maritime (SHIP) CEO Stamatis Tsantanis is very optimistic about dry bulk markets. According to Stamatis Tsantanis, dry bulk market currently has the best fundamentals for the last 15 to 17 years in shipping history. Seanergy Maritime CEO Stamatis Tsantanis expects a very healthy dry bulk market for the next few years. Stamatis Tsantanis expects the capesize market to experience a boost due to the number of ships set to be docked for scrubber retrofitting.
19-December-2018
Hong Kong-headquartered Fleet Management has taken over NAESS Ship Management in Amsterdam. NAESS Ship Management was set up in 1973. Fleet Management has over 450 vessels under management. Hong Kong-headquartered Fleet Management has offices in London and Cyprus.
19-December-2018
UK based shipowner and asset player Tufton Oceanic Assets acquired a handysize dry bulk carrier for $12.9 million. Handysize dry bulk carrier is financed with wash from Initial Public Offering (IPO). Handysize dry bulk carriers will be chartered out to a reputable ship operator. UK based shipowner and asset player Tufton Oceanic Assets has not revealed the name of the handysize bulk carrier. The mentioned ship has already been chartered out for 2.5 years. Since December 2017, UK based shipowner and asset player Tufton Oceanic Assets has acquired 7 ships with the $91 million. Tufton Oceanic Assets will be offering shares to raise money for more growth. Tufton Oceanic Assets is not considering to invest in capesize dry bulk carriers, Very Large Gas Carriers (VLGC), and big tanker sectors.
19-December-2018
Greek shipowner and operator Vigorous Shipping & Trading’s 2005 built supramax dry bulk carrier 52K DWT MV Vigorous has been detained on the Columbia River by plaintiffs Danish Pacific Gulf Shipping Company.
Gourdomichalis brothers led Vigorous Shipping & Trading wants the Danish plaintiffs Pacific Gulf Shipping Company to post a bond to cover the value of both the ship and its cargo with the court as the lawsuit continues at Western Oregon federal court.
52K DWT MV Vigorous remains detained at its berth in Oregon Columbia River and is unable to meet commercial sailing obligations due to continued attachment, all at considerable cost to Vigorous Shipping & Trading. 52K DWT MV Vigorous is laden with a very valuable and perishable cargo of wheat bound for war-torn Yemen to deliver humanitarian relief.
Denmark based Pacific Gulf Shipping Company won the attachment of the 2005 built supramax dry bulk carrier 52K DWT MV Vigorous after filing a $22.6 million suit against Vigorous Shipping & Trading and a slew of other companies connected to the Gourdomichalis brothers two weeks ago. Parent company Blue Wall Shipping, plus manager Phoenix Shipping & Trading are all dominated entirely by the Gourdomichalises brothers, just as Adamastos Shipping & Trading was when the now-scrapped 1995 built panamax dry bulk carrier 73K DWT MV Adamastos was abandoned off the coast of Brazil in 2015.
Vigorous Shipping & Trading had asked the Western Oregon federal court to vacate the attachment, arguing Danish Pacific Gulf Shipping Company failed to describe anything more than the structure of a typical shipping company. But the court granted Danish Pacific Gulf Shipping Company limited discovery to establish the companies as legal alter-egos before deciding. The value of the cargo on board of 52K DWT MV Vigorous is $13 million. Wheat cargo is owned by Al-Saeed Trading Company. Vigorous Shipping & Trading has lost roughly $4.3 million and the ongoing attachment runs $19,205 per day.
18-December-2018
Cargill Ocean Transportation chartering department has posted an increased net profit of $1 billion in Q3 2018 which is up 5% from Q3 2017. Cargill Ocean Transportation has reported revenue was also up 5% to $28 billion in Q3 2018. Cargill Ocean Transportation showed good performance in trade finance and commodity risk management. Cargill Ocean Transportation business demonstrated leadership in decarbonizing the shipping industry by committing to reduce its carbon dioxide output per cargo-ton-mile by 15% by the end of 2020.
18-December-2018
Wood Resource International (WRI) has published that China has imported record volumes of woodchips in Q3 2018. In Q3 2018, Chinese woodchip imports totaled 3.5 million tons, a year-on-year increase of 21%. Vietnam and Australia together account for just over 80% (28% Australia, 52% Vietnam) of Chinese woodchip imports in 2018, with the remainder being supplied by Chile, Thailand, Brazil, South Africa, and Malaysia. Vietnam’s woodchip export has been trending upward for over 15 years and will likely reach a new record high of almost 10 million tons in 2018.
18-December-2018
Nikolas Martinos-led Greek shipowner and operator Thenamaris Ships Management has sold one of four dry bulk carriers that were bought at the bottom of the market in 2016. Greek shipowner and operator Thenamaris Ships Management has sold 2012 built kamsarmax dry bulk carrier 81K DWT MV Seatribute to a Chinese shipowner for $21 million. Kamsarmax dry bulk carriers price tag has increased and lately, 2012 built kamsarmax dry bulk carrier 81K DWT MV Prime Lily was sold for $20.5 million. In 2016, Greek shipowner and operator Thenamaris Ships Management acquired 3 kamsarmax and 1 capesize dry bulk carriers. Thenamaris Ships Management has a fleet of 86 dry bulk carriers, tankers and gas carriers worth almost $3 billion.
18-December-2018
Oslo based Norwegian Christian Ness-led finance house NRP (Ness, Risan & Partners) has confirmed its involvement in a dry cargo project with W Marine. Greek ship manager W Marine had invested in 2011 built post-panamax dry bulk carrier 93K DWT MV Talia alongside with NRP (Ness, Risan & Partners) using the Norwegian KS system. Greek shipowner and operator W Marine Inc will be the technical and commercial manager of the ship. Norwegian finance house NRP (Ness, Risan & Partners) has been investing in dry cargo ships in 2018. In April 2018, NRP (Ness, Risan & Partners) concluded a deal to buy 2 handysize dry bulk carriers from Nordic Hamburg.
18-December-2018
The Hamburg-established Zeaborn Ship Management GmbH & Co. KG., a sophisticated conglomerate birthed from the unification of E.R. Schiffahrt and Rickmers Shipmanagement, has gracefully elevated co-CEO Holger Strack to the distinguished role of CEO, entrusting him with the comprehensive oversight of maritime operations. With elegance and dignity, Holger Strack assumes his elevated position as Nils Aden, his co-CEO counterpart, elects to depart from the enterprise by year’s end, in pursuit of fresh horizons. The esteemed Managing Director, Isabelle Rickmers, will similarly bid her adieu to the establishment as May 2019 draws to a close. Earlier this annum, Zeaborn Group elegantly orchestrated the inception of Zeaborn Ship Management GmbH & Co. KG., following the acquisition of both E.R. Schiffahrt and Rickmers Shipmanagement. Holger Strack made his illustrious entrance through the portal of Rickmers Ship Management, whilst Nils Aden and Issabelle Rickmers graced the company through the auspices of E.R. Schiffahrt.
17-December-2018
Norwegian shipowner and operator Belships' CEO Ulrich Muller is resigning after more than seven years. Last week, Frode Teigen completed the takeover of Belships for $70 million after closing a merger with Lighthouse. CEO Ulrich Muller will remain at Belships until a successor is found. Norwegian shipowner and operator Belships has initiated work to find a replacement for CEO Ulrich Muller immediately. CEO Ulrich Muller has been in charge at Belships since May 2011 and boasts a 35-year career in shipping including stints at Viken Marine, Spar Shipping, and the Grieg Group.
17-December-2018
Finland-based coaster and project shipowner Meriaura Logistics has been expanding its fleet by acquiring two dry bulk carriers. Meriaura Maritime Logistics sister company VG Shipping acquired 1998 built 4,200 DWT MV Aava VG (ex MV Nemuna) and 1997 built MV Lotta VG (ex MV Visurgis) from German shipowner and operator Shipcom Bereederungs GmbH. New ships are going to strengthen VG Shipping market position in European coaster size market. VG Shipping has a fleet of 8 coaster bulk carriers and sister company Meriaura Logistics operates a fleet of 20 dry bulk carriers.
16-December-2018
Frode Teigen’s Lighthouse is merging a fleet of ultramax and supramax dry bulk carriers into Sverre Tidemand’s Oslo-listed Belships. A merger plan in order to bring two profitable shipowning companies and a ship management company was agreed between Sverre Tidemand’s Oslo-listed Belships and privately-owned Lighthouse. Lighthouse and Belships merger will create a shipping company with a fleet of 16 dry bulk carriers. Norwegian shipowner and operator Lighthouse Shipholding AS is led by Frode Teigen. Lighthouse Shipholding AS's chartering is controlled by Lighthouse Navigation which is based in Thailand and Dubai. Lighthouse Navigation is also included in the merger. Lighthouse Navigation manages both the Lighthouse ships and chartered in vessels. Lighthouse Shipholding AS was established in 2013 in Norway and ordered ultramax dry bulk carriers at the Chinese Shipyard Jiangsu Hantong Ship Heavy Industry. Lighthouse Shipholding AS's fleet consists of ultramax dry bulk carriers 63K DWT MV Indian Light, MV Baltic Light and MV Atlantic Light, Northern Light and MV Southern Light. All Lighthouse Shipholding AS ultramax dry bulk carriers will merge into Belships. Norwegian shipowner and operator Lighthouse Shipholding reported a profit of $10.7 million in 2016 and a further $11.5 million in 2017. Sister company Lighthouse Shipholding II AS is the owner of supramax dry bulk carriers 50K DWT MV Orient Light, MV Bering Light, MV Pacific Light, and MV Eastern Light. Norwegian Lighthouse Shipholding II AS was established in 2016 in order to acquire second-hand dry bulk carriers. Norwegian Lighthouse Shipholding II AS reported a profit of $300K in 2016 and $500K in 2017. Lighthouse and Belships merger will create an increased earnings capacity and provide opportunities to realize synergies through improved cost efficiency. Belships has 6 dry bulk carriers trading on long-term deals with Canpotex and Cargill. Belships reported a profit of $6.34 million in 2017 and a loss of $14.59 million in 2016. Frode Teigen’s investment vehicle Kontrari will hold a near 69% stake in the merged company of Lighthouse and Belships, with Sverre Tidemand’s Sonata left with just below 10%.
16-December-2018
Chinese dry bulk shipping giant Cosco Shipping Bulk has set up a representative office in Geneva, Switzerland on 26 November 2018. Geneva branch will be state-owned giant China Cosco Shipping’s first office in Switzerland. China Cosco Shipping’s Geneva office would establish close ties with grain traders at the heart of grain trading hub. During the branch office opening ceremony, Cosco Shipping Bulk Chairman Huang Xiaowen mentioned his plans on how to cooperate with the Swiss traders. Cosco Shipping Bulk, a non-listed unit of China Cosco Shipping, operates more than 400 bulk carriers with a total carrying capacity of over 37 million DWT. Most of the giant trading companies have operations office in Geneva, Switzerland. Cofco International, the trading arm of Chinese grains giant COFCO, is also headquartered in Geneva. In 2016, New York-listed Star Bulk Carriers established Star Logistics Management in Geneva, Switzerland to focus on grains charters for kamsarmax dry bulk carriers. In 2017, Cosco Shipping Bulk and Cofco International sealed a strategic cooperation agreement to work on more contracts of affreightments (COAs).
15-December-2018
Greek Angelicoussis family company Alpha Bulkers Shipmanagement acquired long-idled capesize dry bulk carrier auctioned in China. Greek Alpha Bulkers Management acquired 2010 built capesize dry bulk carrier 179K DWT MV Five Stars Beijing in an online sale for $23.1 million. Capesize dry bulk carrier 179K DWT MV Five Stars Beijing formerly ran in the fleet of Chinese shipowner and operator Five Stars Global Shipping. In August 2018, Greek Safe Bulkers acquired another capesize dry bulk carrier 2009 built 181K DWT MV Five Stars Fujian from Five Stars Global Shipping at auction for $24.8 million. Greek Safe Bulkers is led by Polys Hajioannou. MV Five Stars Fujian and MV Five Stars Beijing were arrested 2 years ago by mortgage holder Bank of Communications Hong Kong after a long lay-up. Greek Anna Angelicoussi-Kanellaki led Alpha Bulkers has been usually expanding its fleet with newly-built or modern tonnage. Greek Alpha Bulkers Management has never before bought a vessel on the secondhand market that was older than 8 years old. Greek Alpha Bulkers Management has a fleet of 35 dry bulk carriers comprising 22 capesize, 10 kamsarmax, and 3 panamax dry bulk carriers.
15-December-2018
Singapore-based shipowner and operator Kumiai Navigation Pte Ltd which is a wholly-owned subsidiary of Japanese shipowner Kumiai Senpaku Co Ltd has ordered scrubber fitted IMO Tier II newcastelemax and ultramax dry bulk carrier for a total $82 million at Sino-Japanese shipyards. Both newcastelemax and ultramax dry bulk carriers are booked against long-term charters. Singapore based shipowner and operator Kumiai Navigation Pte Ltd is paying about $55 million for the newcastlemax dry bulk carrier and about $27 million for the ultramax dry bulk carrier. Newcastlemax dry bulk carrier (208K DWT) will be built at Nantong Cosco KHI Ship Engineering (Nacks) and will be delivered in June 2020. Ultramax dry bulk carrier (61K DWT) will be built at Dalian Cosco KHI Ship Engineering (Dacks) and will be delivered in mid-2020. Singapore based shipowner and operator Kumiai Navigation Pte Ltd ordered both newcastlemax and ultramax dry bulk carriers on the back of long-term charter contracts of more than 5 years. Singapore based shipowner and operator Kumiai Navigation Pte Ltd has a fleet of 10 dry bulk carriers comprising 5 capesizes, 1 panamax and 4 supramax dry bulk carriers. Kumiai Navigation Pte Ltd also owns 4 modern Very Large Gas Carriers (VLGCs).
14-December-2018
Chinese shipowner and operator Nanjing Ocean Shipping Co Ltd’s (NASCO’s) sister company Twin Rivers, which is also part of Nanjing Jianghai Group, has moved to enlarge its dry bulk presence through an order for two 59K DWT handymax dry bulk carriers at Chinese shipyards, adding further momentum to the broader shipping activities associated with Nanjing Jianghai Group. No purchase price has been disclosed for the two handymax dry bulk carriers, which will be constructed at Taizhou Kouan shipyard and are scheduled for delivery in 2020. The order is significant not only because it introduces additional tonnage to the wider group’s fleet profile, but also because it draws attention to the expanding maritime presence surrounding Chinese shipowner and operator Nanjing Ocean Shipping Co Ltd (NASCO), which has been developing its role as a focused operator in the dry bulk and general cargo sectors. Chinese shipowner and operator Nanjing Ocean Shipping Co Ltd (NASCO) forms part of the wider Nanjing Jianghai Group structure and presents itself as an ocean shipping enterprise active in shipowning, ship operation, ship management, international shipping and related maritime services, giving Chinese shipowner and operator Nanjing Ocean Shipping Co Ltd (NASCO) a broader commercial identity than that of a simple single-segment owner. Chinese shipowner and operator Nanjing Ocean Shipping Co Ltd (NASCO) currently operates a fleet of around 20 vessels consisting mainly of dry bulk carriers and general cargo ships, and more recent fleet development has pointed to a particular concentration on geared dry bulk tonnage, especially in the supramax bulk carrier and ultramax bulk carrier segments. That background makes the Twin Rivers handymax dry bulk carrier order strategically consistent with the wider group’s shipping profile, as it reflects continuing confidence in versatile, medium-sized dry bulk carrier types capable of serving a wide range of regional and international cargo trades. In that respect, the latest order is not merely an isolated shipyard deal, but part of a broader pattern in which Chinese shipowner and operator Nanjing Ocean Shipping Co Ltd (NASCO) and its affiliated interests continue to reinforce a compact yet clearly defined fleet platform built around practical and commercially adaptable dry bulk tonnage.
14-December-2018
South Korean shipowners and operators Polaris Shipping, H-Line, and Pan Ocean is ordering $594 million worth of newcastlemax dry bulk carriers (210K DWT) on the back of Contract of Affreightments (COAs) from Brazil’s mining giant Vale. Newcastlemax orders will be placed at Chinese shipyard New Times Shipbuilding. Jiangsu-based Chinese shipyard New Times Shipbuilding will build up to eleven (11) newcastlemax dry bulk carriers (210K DWT) which are backed by five-year COAs from Vale. IMO Tier III standard newcastlemax dry bulk carrier will have a price tag of $54 million each. Chinese shipyard New Times Shipbuilding will deliver the newcastlemax dry bulk carriers from the second half of 2020. This is the first tender of Brazilian mining giant Vale for newcastlemax dry bulk carriers on long-term charter. Previously, Vale has only tendered orders for 400K DWT Valemax VLOCs and 325K DWT Guaibamaxes. Rio de Janeiro based iron-ore miner Vale usually charters capesize and newcastlemax dry bulk carriers from the spot market. This is the first time Vale is chartering for five (5) years, as Vale anticipates charter rates will increase over the next five (5) years. Therefore, Vale is looking to lock in the newcastlemax dry bulk carriers before the freight rates spike. South Korean shipowners Polaris Shipping, H-Line, and Pan Ocean have chosen Chinese New Times Shipbuilding due to its competitive price tag.
14-December-2018
Chinese leasing company CSIC Leasing signed capesize new-building bulk carriers at Qingdao Beihai Shipbuilding Heavy Industry against long-term charters from German energy powerhouse RWE. China Shipbuilding Industry Co (CSIC) controlled shipyard has been commissioned to construct four (4) scrubber-fitted IMO Tier II standard capesize dry bulk carriers (180K DWT) for delivery between late 2020 and early 2021. Each capesize dry bulk carrier has a price tag of $54 million. CSIC Leasing deal is the second-largest newbuilding charter contract linked to RWE.
11-December-2018
Maersk Broker Bulk Chartering merging with Wonsild Dry. Maersk Broker Bulk Chartering determined to take complete control of Copenhagen based Wonsild Dry in January 2019. A new merger will constitute a well-established global platform for further growth and will serve the best chartering services in an extremely ambitious dry bulk market. Wonsild Dry offices in Copenhagen and Singapore will consolidate with Maersk Brokers’ teams in the shipping cities. Wonsild Dry offices in Hong Kong and Bangkok will add to the existing Maersk Broker Bulk Chartering locations in London, Hamburg, Dubai, Delhi, Beijing, Taipei, Seoul, and Tokyo. Maersk Broker Bulk Chartering has been concentrating on growth. Maersk Broker Bulk Chartering has also invested in Lanic. In 2017, Maersk Broker also takeover of offshore specialist Kennedy Marr Group.
11-December-2018
Nasdaq-listed Greek shipowner and operator Seanergy Maritime (SHIP) is optimistic about capesize dry bulk market for 2019. Greek shipowner and operator Seanergy Maritime (SHIP) is in loss in Q3 2018. In Q3 2018, Seanergy Maritime (SHIP) reported revenue of $26.4 million. In Q3 2018, Seanergy Maritime (SHIP) reported TCE (Time Charter Equivalent) earnings of $18,244 per day per ship. Nasdaq-listed Greek shipowner and operator Seanergy Maritime’s (SHIP) CEO Stamatis Tsantanis remarked that capesize dry bulk market conditions improved significantly in Q3 2018. In Q3 2018, Seanergy Maritime (SHIP) reported EBIDTA $10.1 million and a net income of $1.3 million. Seanergy Maritime (SHIP) is the only pure-play capesize dry bulk company listed in the US capital markets. Seanergy Maritime’s (SHIP) CEO Stamatis Tsantanis is very optimistic for the capesize dry bulk market in 2019 and 2020.
6-December-2018
Naples-based shipowner and operator Michele Bottiglieri Armatore (MBA) has recently consummated a debt reconfiguration accord with an assemblage of prominent Italian banking institutions (Banco BPM, MPS, MPS Capital Services, MPS Leasing & Factoring, Unicredit, Banco di Napoli, and BPER Banca). This accord heralds a deferment in debt remittances, liberating the Italian shipowner and operator Michele Bottiglieri Armatore (MBA) from the obligation of divesting any bulk carriers from its distinguished fleet. Incepted in the year 2008, Michele Bottiglieri Armatore (MBA) commands a fleet of five (5) kamsarmax and post-panamax bulk carriers. The cumulative fiscal liability of the Michele Bottiglieri Armatore (MBA) towards these banking establishments gravitates around a substantial €80 million. In the preceding annum, Michele Bottiglieri Armatore (MBA) witnessed a noteworthy augmentation in its financial performance, registering revenues amounting to €29 million and a commendable profit of €7.9 million.
2-December-2018
The Hamburg-established Zeaborn Ship Management GmbH & Co. KG.stands among three patrons behind a nascent maritime tech financier. Situated in the heart of Hamburg, TecPier makes its debut today, enjoying the support of BitStone Capital, Inno Real, and, of course, Zeaborn. Their collective goal is to invest globally in the preliminary financial stages of budding maritime enterprises. The maritime sphere remains one of the few worldwide industries, boasting multi-billion dollar valuations, yet still lags in digital advancement," remarked the newly-established firm in their press statement. Having meticulously examined over 150 maritime innovators and conversed with a myriad of their visionaries, we discern substantial prospects for the maritime domain, notably in energy conservation, digital marketplaces, and the digital overhaul of processes in the forthcoming years," shared the co-founding luminary, Johannes Winkler.