30-March-2021
London-listed shipbroker Braemar Shipping Services will launch a trading screen for dry Forward Freight Agreements (FFAs) at the beginning of April 2021. Braemarscreen.com is going to be used to give market price data. Currently, Braemar Shipping Services’ dry Forward Freight Agreements (FFAs) are used by an average of 400 users per day. Braemar Shipping Services has been working with European clearing house EEX to secure straight-through processing for dry Forward Freight Agreements (FFAs). Forward Freight Agreements (FFAs) slowly shifted from telephone trades to apps and computer screens. Braemar Shipping Services provides a hybrid platform for dry Forward Freight Agreements (FFAs). In 2018, Braemar Shipping Services moved into the dry Forward Freight Agreements (FFAs) with the acquisition of Atlantic Brokers and the recruitment of a dry cargo Forward Freight Agreement (FFA) team. Furthermore, Braemar Shipping Services’ dry Forward Freight Agreements (FFA) provides a transparent transaction in the market.
30-March-2021
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime reported a loss for 2020. Furthermore, Castor Maritime reported a net loss of $0.8 million for Q4 2020. In Q4 2020, Castor Maritime took delivery of two (2) bulk carriers. Currently, shipowner and operator Cypriot Castor Maritime owns and operates six (6) large bulk carriers. Furthermore, since the beginning of 2021, Limassol-based Nasdaq-listed shipowner and operator Castor Maritime spent more than $100 million on secondhand tankers and bulk carriers. Notwithstanding the challenges due to the post-coronavirus recession, Castor Maritime proceeded on growth policy. As a diversification strategy, Castor Maritime entered into the tanker segment.
30-March-2021
Lugano-based shipowner and operator Nova Marine Carriers is selling 2013 built handysize bulk carrier 38K DWT MV Sider Mykonos and 2013 built handysize bulk carrier 38K DWT MV Sider Madrid for around $11 million each. In 2018, Swiss-Italian shipowner and operator Nova Marine Carriers acquired MV Sider Mykonos and MV Sider Madrid from Doris Maritime Services. Nova Marine Carriers profited from increasing second-hand bulk carrier values and achieved a successful asset play on MV Sider Mykonos and MV Sider Madrid. Vincenzo Romeo-led Nova Marine Carriers agreed to sell MV Sider Mykonos and MV Sider Madrid to a Chinese shipowner and operator. Vincenzo Romeo has close ties to the Greek Diamantopoulos-family which manages Halkidon Shipping. In 2020, Nova Marine Carriers acquired 2013 built handysize bulk carrier 38K DWT MV Sider Olympia (ex-Glorious Kamagari and 2015 built handysize bulk carrier 38K DWT MV Sider Onda (ex-Vanessa Oldendorff) from Halkidon Shipping. Currently, Swiss-Italian shipowner and operator Nova Marine Carriers controls a mixed fleet of 80 ships.
30-March-2021
Hong Kong-based shipowner and operator Ocean Longevity Co. Ltd. ordered two (2) capesize bulk carriers at Japanese shipyard Namura Shipbuilding and will be paying above $50 million each. Namura Shipbuilding is going to deliver the capesize bulk carriers in 2022 and Q1 2023. Ocean Longevity Co. Ltd. forecasts that the global economy will improve soon and it is a good time to order new-building bulk carriers. Ocean Longevity Co. Ltd. has ordered a conventional capesize bulk carrier design instead of LNG-powered due to uncertainty about the availability of LNG at some ports. Hong Kong-based shipowner and operator Ocean Longevity Co. Ltd. with sister company Ocean Line Holdings controls a fleet of 35 vessels. In June 2020, Ocean Longevity Co. Ltd. get the delivery of 2020 built capesize bulk carrier 182K DWT MV Ocean Dragon from Namura Shipbuilding. Furthermore, Hong Kong-based shipowner and operator Ocean Longevity Co. Ltd. has two (2) kamsarmax capesize bulk carriers on order at Yangzijiang Shipbuilding. Previously ordered, Ocean Longevity Co. Ltd. controlled 2019 built kamsarmax bulk carrier 82K DWT MV Ocean Tide and 2019 built kamsarmax bulk carrier 82K DWT MV Ocean Time chartered out for long-term at index-linked rates. Ocean Longevity Co. Ltd. is a shareholder in Brockman Mining and chartered out VLOCs (Very Large Ore Carriers) to Brockman Mining.
25-March-2021
UK High Court penalises insurer over mistaken identity in Laskaridis Shipping Ltd.’s reefer cargo damage dispute. UK High Court has put insurers on alert after permitting Laskaridis Shipping Ltd to recover costs arising from legal action over reefer cargo damage taken in the wrong country against the wrong company. The ruling in the Commercial Court delivers shipowners a strong remedy for suits filed overseas despite Charter Parties stipulating an obligation to go to arbitration in London. The judgment also permits shipowners to win compensation even if shipowners were not the named party in the legal action.
25-March-2021
Copenhagen-based shipowner and operator Lauritzen Bulkers cutting of long-term charters. Lauritzen Bulkers has been concentrated on increased activity in short-term bulk carrier charters for up to four (4) months. Short-term bulk carrier charters provided a strong performance and income. Danish shipowner and operator Lauritzen Bulkers has signed Freight Forward Agreements (FFA) to reduce the risks. According to Lauritzen Bulkers, long-term time-charter tonnage was redelivered to shipowners and replaced by shorter-term period bulk carriers at attractive rates. Copenhagen-based shipowner and operator Lauritzen Bulkers expects positive results in 2021. Lauritzen Bulkers’ Dubai has expanded its charterer base in one (1) year. Furthermore, Lauritzen Bulkers is going to open an office in Hong Kong in April 2021. Lauritzen Bulkers’ Hong Kong office is going to serve Chinese shipowners and charterers. Lauritzen Bulkers has continued to reduce its long-term chartered fleet as the company targets new Chinese charterers. In 2020, Lauritzen Bulkers operated an average of 73 bulk carriers and reported a pre-tax loss of $18 million. Shipowner and operator Lauritzen Bulkers has reported an annual loss every year since 2016. Lauritzen Bulkers transformed into an asset-light handysize ship operator. In 2020, Copenhagen-based shipowner and operator J Lauritzen has split bulk carrier and LPG carrier operations. In March 2021, J Lauritzen’s LPG shipowner arm Lauritzen Kosan concluded a merger with BW Group’s Epic Gas.
24-March-2021
Nasdaq-listed shipowner and operator Eagle Bulk Shipping (EGLE) want to secure bank debt against the seven (7) bulk carriers lately acquired. In recent months, Eagle Bulk Shipping has been active in S&P (Sale and Purchase) market. New York-listed Eagle Bulk Shipping acquired three (3) bulk carriers from Alterna Capital and four (4) bulk carriers from Scorpio Bulkers. Eagle Bulk Shipping values unencumbered bulk carriers and favors to keep its revolving credits with lots of liquidity to render flexibility. Nasdaq-listed shipowner and operator Eagle Bulk Shipping is expected to attract about 60% financing on the newly acquired bulk carriers. Furthermore, the increasing dry bulk freight rates have assisted strengthen Eagle Bulk Shipping’s balance sheet. End of 2020, Eagle Bulk Shipping reported approximately $89 million in cash.
23-March-2021
The eminent maritime authority of Cyprus expressed profound apprehension regarding the persistent criminalisation of sea captains, particularly evident in the prolonged incarceration of a Polish commander in Mexico amidst a prolonged narcotics investigation. Deputy Minister of Shipping, Vassilios Demetriades, vocalized these sentiments subsequent to the liberation of Captain Andrzej Lasota, aged 63. Captain Lasota, having spent an arduous 20 months incarcerated, had initially been apprehended in 2019. His detainment followed his proactive decision to notify officials of an alarming 240 kilograms of cocaine aboard the Cypriot-bannered, 32,000-dwt multi-functional bulk vessel, MV UBC Savannah, constructed in 2000. While he was indicted with drug trafficking accusations, it is purported that the case never materialized into a courtroom trial. In the aftermath, nineteen Filipinos alongside two Polish mariners were arrested, but all, excluding Lasota, were granted release merely two months subsequent to the incident. The Cypriot diplomatic channels unyieldingly supported the commander and his crew, synergizing with the ship’s proprietor, Intership Navigation, and Captain Lasota’s kin, in assiduous diplomatic endeavours, advocating for an equitable trial. Furthermore, Cyprus conscientiously engaged pertinent branches of the European Commission, beseeching their intervention and advocacy. Mr. Demetriades conveyed, with palpable relief, “It brings immense solace to know that Captain Andrzej Lasota can, at last, be reunited with his kin after enduring two harrowing years. It’s an affront to the fundamental human rights of our mariners when they endure prolonged detainment, especially when they haven’t willfully transgressed any law.” He further elucidated, “Mariners aboard ships should solely be held accountable for their misjudgments or deliberate acts that lead to or exacerbate an incident. They mustn’t be held culpable for circumstances that clearly transcend what could be rationally perceived as their purview.” Vassilios Demetriades stressed the imperative to perpetually acknowledge and address the injustices surrounding the criminalisation of mariners, as underscored by this case. This pressing issue garnered significant attention and was rigorously debated during the proceedings of the 107th session of the International Maritime Organization’s juridical committee. It subsequently earned a place on the biennial agendas for both 2020/2021 and 2022/2023 of the aforementioned committee. “Cyprus stands unwavering in its commitment to cooperate with the IMO and associated organizations, fervently striving for global advancements concerning this pressing matter,” Vassilios Demetriades affirmed.
21-March-2021
Istanbul-based Iskenderun Ship Management acquired 2001 built supramax bulk carrier 50K DWT MV Bozburun-M (ex MV Bene) for around $5 million from Croatia-based shipowner and operator Jadroplov Ltd. In September 2020, Iskenderun Ship Management was appointed as the ship-manager of 2001 built supramax bulk carrier 52K DWT MV Ata-M (ex MV Harvest Plains). MV Ata-M (ex MV Harvest Plains) was acquired for around $5 million from Archer Daniels Midland. Iskenderun Ship Management is the ship-management arm of New York-based Med Brokerage & Management Corporation. Ibrahim Mazman-led Med Brokerage & Management Corporation was established in 1995. Furthermore, in July 2020, Iskenderun Ship Management was appointed as the ship-manager of 2009 built handysize bulk carrier 34K DWT MV Deniz-M (ex Baltic Wind). MV Deniz-M (ex Baltic Wind) was acquired for around $8 million from Genco Shipping & Trading. Currently, Iskenderun Ship Management controls a fleet of twelve (12) bulk carriers.
16-March-2021
After a respite of three and a half years, Hong Kong and South Korean shipowner and operator Cido Shipping has made a commendable resurgence into the boxship domain. Cido Shipping commissioned orders for an ensemble of two, with an option for an additional two, 15,900 TEU vessels from the esteemed Hyundai Heavy Industries, based in South Korea. These maritime marvels are slated for delivery in the years 2022 and 2023. Furthermore, they are destined for an extended charter with the renowned Mediterranean Shipping Co (MSC), as per insights from Alphaliner. Cido Shipping, the maritime colossus hailing from South Korea, with operational hubs in both Seoul and Hong Kong, gracefully bowed out of the container sector in 2017. This was marked by a notable divestment of 10 vessels, culminating in a $130 million consolidated deal with MPC Container Ships. Presently, Cido Shipping’s eclectic fleet encompasses nine bulk carriers, 22 tankers, a trio of gas carriers, and a fleet of 35 automobile carriers.
16-March-2021
Athens-based shipowner and operator Empire Bulkers Ltd sold 2006 built panamax bulk carrier 76K DWT MV Jasmine A for around $12 million. Greek Stamatis Molaris-led Empire Bulkers Ltd sold MV Jasmine A at a substantially higher price than what Empire Bulkers Ltd paid to buy it in 2017. In 2017, Greek shipowner and operator Empire Bulkers Ltd acquired MV Jasmine A for around $8 million from Japanese shipowner and operator Nissen Kaiun. Empire Bulkers Ltd has been selling vintage bulk carriers and renewing the fleet. Currently, Empire Bulkers Ltd controls nine (9) handysize bulk carriers and five (5) large bulk carriers. Furthermore, Greek Stamatis Molaris-led Empire Navigation (Empire Group of Companies) controls twenty (20) tankers.
15-March-2021
Athens-based shipowner and operator Chronos Shipping has recently engaged in significant transactions in the bulk carrier market. The company sold its 2006-built panamax bulk carrier, the MV Thessaloniki, which has a deadweight tonnage (DWT) of 76,000, for approximately $11 million. The buyer of this vessel is a Chinese shipowner and operator. This sale follows Chronos Shipping’s disposal of another vessel last month, the MV Pireas, also built in 2006. This sistership of the MV Thessaloniki was sold to Niriis Shipping, another Athens-based shipowner and operator. In a strategic move to modernize its fleet, Chronos Shipping acquired the newer and larger MV Kleisoura (formerly known as MV Sakizaya Noble), a kamsarmax bulk carrier built in 2017 with a deadweight tonnage of 81,000. The purchase price for this vessel was around $25.5 million. These transactions reflect Chronos Shipping’s ongoing strategy to refresh its fleet, opting for newer, potentially more efficient vessels while divesting older ships. The shift towards a younger fleet can be seen as a response to evolving market dynamics and regulatory demands in the maritime industry, where factors such as fuel efficiency and environmental compliance are increasingly important.
15-March-2021
Dr. Matheos D Los-led Greek shipowner and operator Vrontados SA has recently continued its fleet renewal strategy with the reported sale of its oldest bulk carrier, the MV Dimitris L. This panamax bulk carrier, with a deadweight tonnage (DWT) of 73,000 and built in 2001, was sold for approximately $7.1 million. This move aligns with Vrontados SA’s policy of trading ships throughout their operational life, beginning from when they are newly built. Earlier in the year, Vrontados SA had already sold two other aging vessels. The MV Nicos L, a 73K DWT panamax bulk carrier built in 2002, was purchased by Chinese buyers and subsequently renamed MV Golden L. Additionally, the MV Ero L, a 50K DWT supramax bulk carrier built in 2003, was sold to buyers in Hong Kong and rechristened MV HY Glory. In parallel with these sales, Vrontados SA is enhancing its fleet with the addition of four new kamsarmax bulk carrier newbuildings, commissioned from Sasebo Heavy Industries in Japan. Two of these ships were delivered to Los family-controlled Greek shipowner and operator Vrontados SA last year, while the remaining two are scheduled for completion in 2021. This strategy of gradually phasing out older vessels in favor of newer, more efficient ones is a common practice among shipping companies. It allows them to maintain a modern, competitive fleet while adhering to increasingly stringent environmental regulations and operational efficiency standards. For Vrontados SA, these moves signify a commitment to staying at the forefront of the maritime shipping industry with a fleet that is both technologically up-to-date and environmentally responsible.
11-March-2021
Hamburg-based Hanseatic Unity Handysize Pool (HUHP) took over the commercial management of Transworld Group’s dry bulk shipping arm Transworld Bulk Carriers (TBC) acquired 2011 built handysize bulk carrier 38K DWT MV TBC Passion (ex-Asahi Maru) and 2011 built handysize bulk carrier 38K DWT MV TBC Prime (ex-Turquoise Ocean). Döhle Group & Reederei Nord controlled Hanseatic Unity Handysize Pool (HUHP) is strengthening its ties with Transworld Group’s dry bulk shipping arm Transworld Bulk Carriers (TBC). In 2019, Transworld Group’s dry bulk shipping arm Transworld Bulk Carriers (TBC) employed 2013 built handysize bulk carrier 32K DWT MV MV TBC Princess and 2014 built handysize bulk carrier 32K DWT MV TBC Prestige under Hanseatic Unity Handysize Pool (HUHP). Hanseatic Unity Handysize Pool (HUHP) has offices in Hamburg and Singapore. MV TBC Passion (ex-Asahi Maru) and MV TBC Prime (ex-Turquoise Ocean) have joined the Hanseatic Unity Handysize Pool (HUHP) at a time when handysize bulk carriers are fixed at the highest spot rates since 2010. In 2018, Germany based Hanseatic Unity Handysize Pool (HUHP) was established by Peter Dohle Schiffahrts and Reederei Nord. Previously, a former pool partner, Deutsche Afrika-Linien (DAL) John T Essberger Group has no longer provides bulk carriers to Hanseatic Unity Handysize Pool (HUHP). Deutsche Afrika-Linien (DAL) John T Essberger Group exited the bulk carrier sector. Currently, Hanseatic Unity Handysize Pool (HUHP) controlled 23 handysize bulk carriers.
10-March-2021
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime acquired a bulk carrier for around $15 million. Since the beginning of 2021, Cyprus-based Castor Maritime acquired seven ships and spent over $100 million. CEO Petros Panagiotidis-led Castor Maritime focus on growing fleet through well-timed purchases of ships across all segments. In January 2021, Cyprus-based Castor Maritime acquired a 2006 built capesize bulk carrier and entered into capesize segment. Lately, Castor Maritime acquired two (2) LR2 tankers and entered into tanker market. Currently, Limassol-based Nasdaq-listed shipowner and operator Castor Maritime has a mixed fleet of 13 vessels.
10-March-2021
Greek shipowner Laskaridis-family outlines the company’s fleet to prepare for handover to the next generation. Laskaridis family-controlled Athens-based Lavinia Bulk Ltd. has left the company descending from Panos Laskaridis. Laskaridis Shipping Ltd.’s subsidiary Lavinia Corp has a fleet of 40 bulk carriers. Furthermore, Laskaridis Shipping Ltd operates chemical tankers, product tankers, and reefer ships. Lavinia Bulk Ltd is a privately held company. Lavinia Bulk Ltd’s bulk carriers are managed by Laskaridis Shipping Co. Ltd. Lavinia Bulk Ltd commercially manages a large and modern fleet of mid- to large-size dry bulk carriers. Lavinia Bulk Ltd’s restructuring is the result of a long-planned generational change. Lavinia Bulk Ltd looks forward with boosted confidence.
10-March-2021
Tokyo-listed Japanese shipping giant MOL (Mitsui O.S.K. Lines) installing hard sail on bulk carriers, tankers, and LNG ships as MOL (Mitsui O.S.K. Lines) advances towards its first newbuilding 100K DWT bulk carrier under its Wind Challenger propulsion system. Japanese shipowner MOL (Mitsui O.S.K. Lines) has signed a coal transportation contract with Tohoku Electric Power to use the Wind Challenger propulsion system. Japanese dry bulk shipowner and operator MOL (Mitsui O.S.K. Lines) is going to install a 11-meter-long telescopic hard sail on a capesize bulk carrier. This single bow-mounted hard sail can stretch to a height of about 50 meters from the upper deck. Besides, hard sail can be retracted but will not sit flat with the deck. In 2017, Japanese shipowner MOL (Mitsui O.S.K. Lines) and Oshima Shipbuilding take over the hard sail project. In 2019, ClassNK approved the design work. In 2020, Japanese shipowner MOL (Mitsui O.S.K. Lines) signed a coal transportation deal with Tohoku Electric Power for Wind Challenger bulk carrier. Japan’s Pilot Association has agreed the Wind Challenger bulk carrier can be safely managed without any special sailing procedures. Wind Challenger bulk carrier will be delivered in October 2022 by Oshima Shipbuilding. Tokyo listed Japanese shipping giant MOL (Mitsui O.S.K. Lines) designed hard sail will have no significant impact on ship visibility or hydrodynamics. MOL (Mitsui O.S.K. Lines) is planning to install four (4) hard sails on VLCCs (Very Large Crude Carriers) that comply with visibility regulations in the International Convention for the Safety of Life at Sea (SOLAS). According to MOL (Mitsui O.S.K. Lines), a wing-shaped hard sail allows more comprehensive thrust and efficiency than a rotor alternative. MOL (Mitsui O.S.K. Lines) conceives the hard sails as a feature for new-building ships rather than for existing ships.
9-March-2021
Greek ship-manager Niriis Shipping acquired 2006 built panamax bulk carrier 76K DWT MV Ivestos X (ex MV Pireas). Athens-based ship-manager Niriis Shipping acquired ten panamax bulk carriers in since 2019. In 2020, Niriis Shipping acquired three panamax bulk carriers from Greek shipowner and operator Gleamray Maritime. MV Ivestos X (ex MV Pireas) was built at the Imabari Shipbuilding. Previously, MV Ivestos X (ex MV Pireas) was owned by Chronos Shipping. Greek shipowner and operator Chronos Shipping still controls sistership 2006 built panamax bulk carrier 76K DWT MV Thessaloniki.
8-March-2021
Athens-based shipowner and operator Primerose Shipping is trying to sell 2005 built panamax bulk carrier 76K DWT MV Lord Byron for around $10 million. 2005 built panamax bulk carrier 76K DWT MV Lord Byron is the oldest bulk carrier in the fleet of Primerose Shipping. MV Lord Byron was built at Oshima Shipbuilding.
8-March-2021
Osaka-based shipowner Santoku Senpaku (Santoku Senpaku KK) purchased two (2) newcastlemax bulk carriers from Shanghai Waigaoqiao Shipbuilding (SWS) for $52 million per ship. Santoku Senpaku (Santoku Senpaku KK) is going to take delivery of newcastlemax bulk carriers in June and September 2021. Previously, Japanese shipowner Santoku Senpaku (Santoku Senpaku KK) ordered six (6) ultramax bulk carriers at DACKS (Dalian Cosco KHI Ship Engineering). Santoku Senpaku (Santoku Senpaku KK) is going to take delivery of the first ultramax bulk carrier at the end of 2021. Santoku Senpaku (Santoku Senpaku KK) is going to pay around $26 million for each ultramax bulk carrier. Besides bulk carriers, Japanese shipowner Santoku Senpaku (Santoku Senpaku KK) has ordered one (1) reefer newbuilding at Kitanihon Shipbuilding. Santoku Senpaku (Santoku Senpaku KK) is going to take the delivery of reefer newbuilding in April 2021. Santoku Senpaku (Santoku Senpaku KK) has been renewing its fleet. Santoku Senpaku (Santoku Senpaku KK) sold 13 vessels since 2019. Santoku Senpaku (Santoku Senpaku KK) is a traditional Japanese shipowner that only orders new ships against charter employment. Santoku Senpaku (Santoku Senpaku KK) would simply sell its ships when charter contracts are expired. Osaka-based shipowner Santoku Senpaku (Santoku Senpaku KK) was founded by Masashi Taga in 1972. Currently, Japanese shipowner Santoku Senpaku (Santoku Senpaku KK) owns a mixed fleet of sixty (60) ships.
7-March-2021
In celebration of International Women’s Day, the Shipping Corporation of India (SCI) introduced a notable achievement by deploying a product tanker manned entirely by female officers over the weekend. Shipping Corporation of India (SCI), a trailblazer in the employment of women seafarers, has been actively involved in promoting gender diversity within its ranks and has undertaken numerous initiatives to support aspiring female cadets at its maritime training institute. According to data from the International Transport Workers Federation’s recent collective bargaining agreements, out of an estimated 1,647,500 seafarers available globally for service on internationally trading ships, women constitute 1%. When cruise shipping is accounted for, the percentage of women working at sea increases to 7.5%. The state-operated Shipping Corporation of India (SCI) is slated for privatization later this year, with one of the submitted bids coming from a consortium that includes Exmar, GMS, and Foresight. Foresight, in particular, envisions transforming Shipping Corporation of India (SCI) into a company primarily focused on energy, with significant investments in LNG carriers. A Foresight executive highlighted the aim to shift Shipping Corporation of India’s (SCI) focus from conventional shipping to specifically cater to the energy sector, in line with the anticipated double-digit growth in India’s energy demand.
4-March-2021
India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping (GES) acquired 2013 built supramax bulk carrier 56K DWT MV Luminous Nova for around $14 million from Japanese shipowner Aono Kaiun. Mumbai-based shipowner and operator Great Eastern Shipping (GES) is selling 2006 built supramax bulk carrier 52K DWT MV Jag Roopa for around $8 million. In 2014, Indian shipowner and operator Great Eastern Shipping (GES) acquired MV Jag Roopa from Japanese shipowner Kambara Kisen for around $18 million. Previously, Great Eastern Shipping (GES) acquired a 2014 built capesize bulk carrier 180K DWT MV Jag Alaia (ex MV True Dream) for around $23 million. According to Great Eastern Shipping (GES), second-hand bulk carrier prices have risen in better shipping markets. Financial discipline has served Great Eastern Shipping (GES) well and supported the company to come through shipping crises. Currently, Mumbai-based shipowner and operator Great Eastern Shipping (GES) has a mixed fleet of 46 ships.
4-March-2021
Nasdaq-listed dry bulk shipowner and operator Pangaea Logistics Solutions acquired 2013 built panamax bulk carrier 79K DWT MV Bulk Promise (ex MV Robin Wind) for around $18 million from Japanese shipowner Kurushima Senpaku. US-based dry bulk shipowner and operator Pangaea Logistics Solution is going to employ MV Bulk Promise (ex MV Robin Wind) in bauxite COA (Contract of Affreightment) business in Jamaica. In 2018, Pangaea Logistics extended the bauxite shipping contract from Jamaica to Louisiana with Noranda Bauxite and Alumina till 2031. Dry bulk shipowner and operator Pangaea Logistics Solutions is an expert in performing complex niche trades under long-term contracts. Currently, Pangaea Logistics has a fleet of 22 bulk carriers.
2-March-2021
Transworld Group’s dry bulk shipping arm Transworld Bulk Carriers (TBC) acquired 2011 built handysize bulk carrier 38K DWT MV TBC Passion (ex-Asahi Maru) for around $9 million from Japanese shipowner Yokoyama Kaiun. Furthermore, Transworld Group’s dry bulk shipping arm Transworld Bulk Carriers (TBC) acquired 2011 built handysize bulk carrier 38K DWT MV TBC Prime for around $10 million from Japanese shipowner Santoku Senpaku. Transworld Bulk Carriers (TBC) currently operates a fleet of geared handysize modern bulk carriers serving First Class Charterers (FCC) and has been growing in the handysize-supramax bulk carrier segments. Dubai-based Transworld Ship Management has been performing ship-management of Transworld Group’s dry bulk shipping arm Transworld Bulk Carriers (TBC). Transworld Group has also operates container ships. Currently, Chairman Ramesh Ramakrishnan-led Transworld Group controls a mixed fleet of 25 ships.
1-March-2021
Holland-based heavy-lift shipowner Jumbo Maritime and Germany-based heavy-lift shipowner SAL Heavy Lift are plotting a JV (Joint Venture) that will run 30 heavy-lift ships. If Jumbo Maritime and SAL Heavy Lift merger is approved by regulators, this JV (Joint Venture) is going to build a heavy-lift market leader. Jumbo Maritime and SAL Heavy Lift applied for JV (Joint Venture) approval from competition authorities in Germany and Holland. Jumbo Maritime and SAL Heavy Lift joint venture’s main competitor is Spliethoff-controlled BigLift. Holland-based heavy-lift shipowner Spliethoff-controlled BigLift operates around 20 heavy-lift ships. In 2019, Spliethoff-controlled BigLift purchased 10 heavy-lift ships previously operated by Hansa Heavy Lift. Currently, the top three heavy-lift shipowners Spliethoff-controlled BigLift, Jumbo Maritime, and SAL Heavy Lift operate in a niche section of the shipping market for outsized cargoes. In July 2017, Japanese shipowner K Line sold SAL Heavy Lift to Germany-based Harren & Partner. In October 2020, SAL Heavy Lift obtained a predominant stake in the US-based MPP operator Intermarine.