29-December-2022
Athens-based shipowner and operator Franco Compania Naviera S.A. is trying to sell 2015 built ultramax bulk carrier 63K DWT MV Delsa and 2007 built supramax bulk carrier 55K DWT MV Alegre III for around $40 million in total. Nicolas Frangistas and Marily Frangistas-led shipowner and operator Franco Compania Naviera S.A. has a subsidiary company FCN Management Inc. that manages the fleet. The Franco Shipping Group (Franco Compania Naviera S.A.) was founded by Dr. Achilles Frangistas in 1948. Dr. Achilles Frangistas acquired the first vessel in 1951. Franco Compania Naviera S.A. is the operator of a continuously growing fleet of modern bulk carriers. Today, Franco Compania Naviera S.A. offers commercial, operational, technical, and crewing services on behalf of global shipowners and is widely recognized as one of the most reputable traditional ship-management companies. Franco Compania Naviera S.A. signed a preliminary agreement to sell 2015 built ultramax bulk carrier 63K DWT MV Delsa and the 2007 built supramax bulk carrier 55K DWT MV Alegre III. 2015 built ultramax bulk carrier 63K DWT MV Delsa was constructed in China. 2007 built supramax bulk carrier 55K DWT MV Alegre III was constructed in Japan. Currently, Athens-based shipowner and operator Franco Compania Naviera S.A. has a fleet of eleven (11) bulk carriers.
27-December-2022
Zhejiang-based shipowner and operator Zhejiang Xiehai Group ordered two (2) newcastlemax bulk carriers and two (2) kamsarmax bulk carriers for around $190 million. Zhejiang Xiehai Group ordered two (2) newcastlemax bulk carriers and two (2) kamsarmax bulk carriers at Cosco Shipping Heavy Industry Yangzhou Shipyard. Zhejiang Xiehai Group will take the delivery of the bulk carriers in 2024.
26-December-2022
Norwegian shipowner and operator Torvald Klaveness’s subsidiary Klaveness Combination Carriers (KCC) has recommended grain shippers work with shipowners to make effortlessly achievable emission reductions right now. Klaveness Combination Carriers (KCC) owns and operates CABU-type and CLEANBU-type Combination Carriers that can carry both dry bulk and liquid cargo. CEO Engebret Dahm-led Oslo-based Klaveness Combined Carriers (KCC) believes decarbonization need not all be about increased expenses. Norwegian shipowner and operator Torvald Klaveness’s decarbonization subsidiary company ZeroLab is led by Ingrid Kylstad. Oslo-based shipowner and operator Torvald Klaveness’s subsidiary Klaveness Combination Carriers (KCC) stated that the climate change requires insight along the entire value chain. According to Klaveness Combination Carriers (KCC), emissions from charterers’ seaborne supply chains commonly belong to the Scope 3 indirect emissions category. Currently, Norwegian shipowner and operator Torvald Klaveness’s subsidiary Klaveness Combination Carriers (KCC) owns and operates nine (9) CABU-type and eight (8) CLEANBU-type Combination Carriers, which can carry both dry bulk and liquid cargoes.
25-December-2022
Athens-based Vafias family-controlled shipowner and operator Brave Maritime Corporation Inc. acquired 2011 built capesize bulk carrier 181K DWT MV Lowlands Sunrise. Nikolaos Vafias-led shipowner and operator Brave Maritime Corporation Inc. paid for MV Lowlands Sunrise around $24.5 million. Vafias Group’s dry bulk shipping arm Brave Maritime Corporation Inc. spent approximately $100m on capsize bulk carriers in Q4. Athens-based Vafias family-controlled shipowner and operator Brave Maritime Corporation Inc. acquired the company’s fourth capesize bulk carrier in Q4. Capesize bulk carrier 181K DWT MV Lowlands Sunrise was constructed at the Koyo Dockyard in Japan. Currently, Vafias Group’s dry bulk shipping arm Brave Maritime Corporation Inc. owns and operates 13 bulk carriers.
25-December-2022
Bermuda-registered Norway-based dry bulk shipping company Golden Ocean Group (GOGL) sold two (2) ice-class panamax bulk carriers. Oslo and Nasdaq-listed dry bulk shipping company Golden Ocean Group (GOGL) sold 2008 built ice-class panamax bulk carrier 75K DWT MV Golden Ice and 2009 built ice-class panamax bulk carrier 75K DWT MV Golden Strength for a total around $30 million. John Fredriksen’s bulker company Golden Ocean Group (GOGL) sold off the company’s oldest panamax bulk carriers at a time when the shipping market indicators show plunging prices in the panamax sector. CEO Ulrik Andersen-led Golden Ocean Group (GOGL) sold the MV Golden Ice and MV Golden Strength which were built at Jiangsu Rongsheng Heavy Industries.
25-December-2022
Istanbul-based shipowner and operator Yasa Shipping ordered three (3) handysize bulk carrier newbuildings at Jiangmen Nanyang Ship Engineering. One of the richest Turkish conglomerates Sabanci Family’s Istanbul-based Yasa Shipping will take delivery of the three (3) handysize bulk carrier newbuildings in 2025. Yalcin Sabanci-led shipowner and operator Yasa Shipping has been diversified into handysize and kamsarmax segments. Yalcin Sabanci-led shipowner and operator Yasa Shipping’s new building appetite provides further evidence of the dynamic expansion activity displayed by Turkish shipowners in 2022. Meanwhile, some of the largest Turkish shipowners are piling up shipyard new building agreements and secondhand assets. Recently, Istanbul-based shipowner and operator Yasa Shipping took delivery of three (3) bulk carrier newbuildings in China. Sabanci Family-controlled Yasa Shipping replenished the company’s order book by inking as many ships in China again. Currently, Istanbul-based shipowner and operator Yasa Shipping has a fleet of 13 tankers and 27 bulk carriers.
24-December-2022
Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, plans 1-for-10 reverse stock split in bid to keep listing at Nasdaq Stock Market (Nasdaq). In October 2021, Diana Shipping (DSX) spun off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. However, OceanPal’s ’s share price has been below Nasdaq Stock Market’s (Nasdaq) minimum bid-price requirement of $1 for 2021. Semiramis Paliou manages Diana Shipping (DSX) and OceanPal at the same time. In 2021, Diana Shipping (DSX) sold three (3) vintage bulk carriers into a separate sister company called OceanPal. OceanPal began the venture on pleasant terms with the company’s shareholders. Diana Shipping’s (DSX) shareholders received one share of OceanPal stock for every 10 shares of Diana Shipping’s (DSX) stock via direct distribution of all OceanPal shares. 1-for-10 reverse stock split to prevent OceanPal shares from delisting on the Nasdaq Stock Market (Nasdaq). Nasdaq Stock Market (Nasdaq)-listed OceanPal’s BOD (Board of Directors) and shareholders endorsed reverse stock split plan at an AGM (annual general meeting) held on 5 April 2022. OceanPal’s 1-for-10 reverse stock split will become effective on Wednesday. Nasdaq Stock Market (Nasdaq)-listed OceanPal’s number of outstanding common shares will fall to 10.2 million. In October 2021, Diana Shipping (DSX) spun off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 35 bulk carriers.
24-December-2022
Connecticut-based shipowner and operator Eagle Bulk Shipping (EGLE) acquired 2015 built ultramax bulk carrier 63K DWT MV Stony Stream for around $24 million. CEO Gary Vogel-led Eagle Bulk Shipping (EGLE) acquired two (2) second-hand ultramax bulk carriers in 2022. In December, price estimations for ultramax bulk carriers have decreased more than 4%. New York Stock Exchange (NYSE) listed shipowner and operator Eagle Bulk Shipping (EGLE) seems to be attaching to the supramax and ultramax segments that the company knows best. If the deal is finalized, New York-listed shipowner and operator Eagle Bulk Shipping (EGLE) owns and operates 54 bulk carriers.
24-December-2022
South Korean shipowner and operator Hyundai Merchant Marine (HMM) and Tokyo-based shipowner and operator NYK Bulk & Projects (NBP) joined forces on heavy-lift service. Hyundai Merchant Marine (HMM) and NYK Bulk & Projects (NBP) will operate the heavy-lift and break-bulk services between the Middle East and the Far East. Tokyo Stock Exchange-listed Japanese shipping giant NYK Line’s (Nippon Yusen Kabushiki Kaisha) subsidiary NYK Bulk & Projects (NBP) specializes in heavy-lift and project cargoes, while Hyundai Merchant Marine (HMM) specializes in MPP (Multipurpose) cargoes. Hyundai Merchant Marine (HMM) and NYK Bulk & Projects (NBP) established a new joint venture that will operate heavy-lift and break-bulk services. Hyundai Merchant Marine (HMM) and NYK Bulk & Projects’ (NBP) new joint venture will benefit from the shipping giant’s strengths and expertise in the shipping of break-bulk and project cargo. Hyundai Merchant Marine (HMM) and NYK Bulk & Projects’ (NBP) new joint venture will lead to the development of future opportunities.
24-December-2022
London-listed Taylor Maritime Investments (TMI), the spin-off of Hong Kong-based shipowner Taylor Maritime, completed the Grindrod acquisition deal. Edward Buttery-led Taylor Maritime Investments (TMI) reports offer to buy remaining shares in Singapore-based Grindrod Shipping. has closed. Previously, Taylor Maritime Investments (TMI) made a $494 million offer for the rival New York-listed Singapore-based Grindrod Shipping. London-listed Taylor Maritime Investments (TMI) was holding a 26% stake in Singapore-based Grindrod Shipping. Taylor Maritime Investments (TMI) has declared the completion of the deal to acquire the remaining shares in Grindrod Shipping. Taylor Maritime Investments (TMI) reported to the London Stock Exchange (LSE) that the company offered to acquire all the issued ordinary shares in the capital of Grindrod Shipping had reached the final level of acceptance. London-listed Taylor Maritime Investments (TMI), the spin-off of Hong Kong-based shipowner Taylor Maritime, had taken the company’s ownership of Grindrod Shipping up to 78.3%.
22-December-2022
The Nasdaq Stock Market-listed shipowner and operator Eagle Bulk Shipping (EGLE) will start trading on the New York Stock Exchange (NYSE) on 4 January 2023. Connecticut-based shipowner and operator Eagle Bulk Shipping will be listed on the New York Stock Exchange (NYSE) on 4 January 2023. Eagle Bulk Shipping (EGLE) hopes for a trading liquidity boost at the New York Stock Exchange (NYSE), however, the shipping analysts state change is not significant. Eagle Bulk Shipping (EGLE) will transfer the listing of the company’s shares to the New York Stock Exchange (NYSE) from the Nasdaq Global Select Market. Eagle Bulk Shipping (EGLE) is excited to join the New York Stock Exchange (NYSE). Eagle Bulk Shipping’s (EGLE) shares would be traded alongside some of the world’s most reputable companies. Currently, Connecticut-based shipowner and operator Eagle Bulk Shipping (EGLE) owns and operates 53 bulk carriers.
15-December-2022
Istanbul-based Beks Shipping (Beks Ship Management and Trading) has solidified its position as one of the foremost purchasers of capesize bulk carriers in the region. The Turkish shipowner has acquired its sixth cape, marking its fourth acquisition within the span of four months. Beks Shipping (Beks Ship Management and Trading) acquired 2004 built capesize bulk carrier 176K DWT MV Bulk China from Monaco-based shipowner CTM. The purchase price remains undisclosed. Established in 2011 by the Turkish magnate Ali Bekmezci, Beks Shipping (Beks Ship Management and Trading) embarked on its foray into the cape trades in 2021.
12-December-2022
Hamburg-based shipowner and operator Hamburg Bulk Carriers GmbH & Co. KG and Hong Kong-based shipowner and operator Asia Maritime Pacific (AMP) merged into a new handysize giant named Cetus Maritime. Hamburg Bulk Carriers (HBC) and Asia Maritime Pacific (AMP) merged to start one of the biggest privately owned handysize bulker players in the shipping market. Cetus Maritime will control a fleet of 65 handysize bulk carriers. Cetus Maritime will start its operations in January 2023. Cetus Maritime will have a more considerable and mixed fleet, with a more robust balance sheet and greater access to capital markets. Hamburg Bulk Carriers (HBC) was established in Hamburg in 1999 by Jens von Husen and Georg Greilinger. Hamburg Bulk Carriers (HBC) is a bulk ship operator for minor cargoes. Currently, Hong Kong-based shipowner and operator Asia Maritime Pacific (AMP) operates around 36 bulk carriers.
8-December-2022
Methanex’s subsidiary, Waterfront Shipping, has recently engaged in a significant time charter agreement with Trafigura Maritime Logistics Pte Ltd for the methanol dual-fuel product tanker, MT Mari Innovator, built in 2021. This vessel, owned by Clean Sea Transport—a consortium comprising MSEA Group, Arkview Capital, and Scorpio Tankers—has been under a long-term charter with Waterfront Shipping until this new arrangement with Trafigura Maritime Logistics. This deal is particularly noteworthy as it represents the first instance where a company that is not a methanol producer has chartered a methanol dual-fuel engine tanker. Modi Mano, CEO of Clean Sea Transport, highlighted the MT Mari Innovator’s advanced features, including its third-generation dual-fuel technology, which provides numerous benefits to Trafigura. These advantages include the versatility of fuel options and the potential for cost savings when using methanol. Additionally, the MT Mari Innovator boasts cutting-edge technological innovations and is characterized by exceptionally low fuel consumption for a medium-range tanker. This new agreement with Trafigura Maritime Logistics Pte Ltd is seen as a groundbreaking development in the tanker space, as dual-fuel methanol business was previously exclusive to entities involved in transporting methanol. Mano pointed out that this deal paves the way for a new market segment, where charterers can utilize dual-fuel tonnage, bunker vessels with methanol, and assess its operational, logistical, and commercial viability. Trafigura Maritime Logistics Pte Ltd plans to deploy the MT Mari Innovator for standard clean products trading routes. The company is actively advocating for collective action in the shipping industry to address emissions and is investing in novel technologies and vessels to foster a more sustainable shipping sector. This latest move underscores Trafigura’s commitment to reducing environmental impact and leading by example in the transition towards cleaner maritime operations.
7-December-2022
Athens-based shipowner Evalend Shipping Co SA ordered one (1) MR2 tanker and two (2) handysize bulk carriers at Jiangsu New Yangzijiang Shipbuilding in China. Previously, Kriton Lentoudis-led Greek shipowner Evalend Shipping ordered LPG carriers in South Korea at the beginning of 2022. Now, Greek shipowner Evalend Shipping Co SA turned to a Chinese shipyard to construct a tanker and bulk carriers. Two (2) 40K DWT handysize bulk carriers will be Green Dolphin-type, a modern open-hatch design that is fit for eventual conversions to carry containers.
7-December-2022
Bermuda-registered Norway-based dry bulk shipping company Golden Ocean Group started share buybacks with a $9.2 million repurchase. John Fredriksen’s bulker company Golden Ocean Group has completed the company’s first repurchases under its share buyback programme by repurchasing 250,000 of Golden Ocean Group’s securities for approximately $9.2 million. $9.2 million equate to just under 10% of what the Oslo and Nasdaq-listed dry bulk shipping company Golden Ocean Group has allocated in its buyback plan. John Fredriksen is the largest shareholder in Golden Ocean Group. Golden Ocean Group declared in October a plan to buy back up to $100 million of its shares over the following year. Furthermore, on Monday, Oslo and Nasdaq-listed dry bulk shipping company Golden Ocean Group bought 100,000 shares on the Oslo Stock Exchange at an average price of NOK 79.37. Currently, CEO Ulrik Andersen-led Golden Ocean Group has a fleet of 94 bulk carriers.
7-December-2022
Imabari-based shipowner Nissen Kaiun acquired 49.5% of the shares in shipyard Shikoku Dock Co. Ltd. from Mitsui E&S Holdings. Currently, Japanese shipowner Nissen Kaiun is the biggest shareholder in the shipbuilder ahead of insurance, investment, and real estate company Shikoku Kougyo. Shikoku Kougyo holds 42.5% of the shares in the shipyard Shikoku Dock Co. Ltd. Japanese shipowner Nissen Kaiun is one of Japan’s biggest privately owned shipping companies. Nissen Kaiun diversified its business by entering the shipbuilding business. Currently, Japanese tonnage provider Nissen Kaiun has a mixed fleet of 168 ships.
7-December-2022
Lubeck-based shipowner and operator Oldendorff Carriers released a harsh critique of the Carbon Intensity Indicator (CII). German shipowner and operator Oldendorff Carriers states that the Carbon Intensity Indicator (CII) can cause ships to emit more greenhouse gases when they attempt to enhance their rating. Oldendorff Carriers has been working since June to quantify the effects of the incoming IMO (International Maritime Organization) regulation. Oldendorff Carriers has compiled the research paper. In the research paper, Oldendorff Carriers delivers ships emit more greenhouse gases when the Carbon Intensity Indicator (CII) take steps to improve their rating. CEO Henrik Christiansen-led German shipowner and operator Oldendorff Carriers likes the company’s research to support the broader shipping industry. Currently, Lubeck-based shipowner and operator Oldendorff Carriers has an operational fleet of 111 bulk carriers.
6-December-2022
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has unlocked liquid assets through the sale and leaseback of a recently bestowed ultramax bulk carrier while fixing another one for no less than $8.1 million. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) is anticipating gross proceeds of $29.85 million by the culmination of the fourth quarter from an agreement with a Japanese third party for the 2016 built ultramax bulk carrier 60K DWT MV DSI Andromeda (ex MV STH Tokyo). 2016 built ultramax bulk carrier 60K DWT MV DSI Andromeda (ex MV STH Tokyo), presently on time charter with Western Bulk Carriers (WBC) between October 16, 2023, and December 16, 2023, at a rate of $14,250 per day, will be bareboat chartered-in by Diana Shipping (DSX) for a duration of 10 years. Diana Shipping (DSX) will possess purchase options commencing at the termination of the third year of the charter. Meanwhile, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has chartered out its 2015 built ultramax bulk carrier 60K DWT MV DSI Pegasus (ex MV STH Athens) to Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd at a daily rate of $14,000 between July 15, 2024, and September 15, 2024. The charter of the MV DSI Pegasus (ex MV STH Athens), which will be delivered to Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd earlier this month, is scheduled to commence on December 7.
5-December-2022
Lubeck-based shipowner and operator Oldendorff Carriers buys into Singapore-based shipping tech outfit Alpha Ori Technologies (AOT). German shipowner and operator Oldendorff Carriers taking a seat on the board of Rajesh Unni-led maritime digitalization company Alpha Ori Technologies (AOT) with an undisclosed investment. Oldendorff Carriers is a private family-owned company, Oldendorff Carriers began life 100 years ago. Currently, Oldendorff Carriers is one of the world’s biggest dry bulk companies. Oldendorff Carriers will place a representative on the board of Singapore-based shipping tech outfit Alpha Ori Technologies (AOT). CEO Henrik Christiansen-led German shipowner and operator Oldendorff Carriers expressed that the Alpha Ori Technologies’ (AOT’s) digital solutions are increasingly being adopted by ship operators worldwide. Alpha Ori Technologies (AOT) investment will additionally accelerate Oldendorff Carriers’ sales activities and product capabilities. Singapore-based shipping tech outfit Alpha Ori Technologies (AOT) was established by Rajesh Unni, who is also the CEO of Singapore-based ship manager Synergy Group. Lubeck-based shipowner and operator Oldendorff Carriers has an operational fleet of 111 bulk carriers.