30-March-2023
Athens-based George Economou-led shipowner and operator TMS Dry Ltd acquired 2021 built newcastlemax bulk carrier 208K DWT MV MP The Vrabel and 2021 built newcastlemax bulk carrier 208K DWT MV MP The Vinatieri for around $126 million total. Athens-based shipowner and operator TMS Dry Ltd acquired MV MP The Vrabel and MP The Vinatieri from New York investment company Mangrove Partners. Recently, George Economou ordered tanker and bulk carrier newbuildings in China.
30-March-2023
Tokyo Stock Exchange-listed shipowner and operator K Line (Kawasaki Kisen Kaisha) takes full control of Mitsubishi Ore Transport Co. Hitoshi Nagasawa-led Japanese shipowner and operator K Line’s (Kawasaki Kisen Kaisha) will take over Mitsubishi Ore Transport Co (MOT). K Line (Kawasaki Kisen Kaisha) declared the company will buy all the Mitsubishi Ore Transport Co (MOT) shares held by three other stakeholders: Mitsubishi Corp, Tokio Marine & Nichido Fire Insurance and Mitsubishi Heavy Industries (MHI). Tokyo-based shipowner and operator K Line (Kawasaki Kisen Kaisha) did not announce the investment cost but indicated that Mitsubishi Ore Transport Co (MOT) will become one of its wholly-owned subsidiaries.
30-March-2023
Singapore-based shipowner and operator Swire Bulk Pte. Ltd. sold 2014 built handysize bulk carrier 39K DWT MV Erisort, 2014 built handysize bulk carrier 39K DWT MV Erradale, and 2014 built handysize bulk carrier 39K DWT MV Wulin to JP Morgan’s Asset Management’s Global Transport Group. CEO Peter Norberg-led shipowner and operator Swire Bulk Pte. Ltd. will be paid around $60 million from the sale of a trio of handysize bulk carriers. In 2021, China Navigation (CNCo) rebranded the company as Swire Shipping. Swire Bulk was established in 2012 as the dry bulk trading division of China Navigation (CNCo). Swire Shipping is the wholly owned, deep-sea ship-owning and operating arm of John Swire & Sons Limited and is the oldest ship-operating entity of the Swire Group. Swire Shipping was established as The China Navigation Company (CNCo) in 1872 in Shanghai and commenced its operations trading on the Yangtze River.
29-March-2023
Tor Olav Troim-backed Oslo-listed Himalaya Shipping schedules for an IPO (Initial Public Offering) on New York Stock Exchange. Oslo OTC (Over the Counter) Market-listed Himalaya Shipping sets sights on $45 million peak for an IPO (Initial Public Offering) on New York Stock Exchange. CEO Herman Billung-led Himalaya Shipping expects to utilize cash for loan repayments and scrubber installations to the fleet. Currently, Himalaya Shipping has 12 LNG-fuelled newcastlemax bulk carriers on order at New Times Shipbuilding. Himalaya Shipping will get the delivery of 12 LNG-fuelled newcastlemax bulk carriers starting in Q3 2023. Tor Olav Troim-backed Oslo-listed Himalaya Shipping is expecting to not only expand the company’s public listing from Oslo to New York but also make some additional cash as a consequence. Himalaya Shipping is targeting $45 million in proceeds from selling new shares on the New York Stock Exchange.
28-March-2023
Athens-based Michael D Chandris-led Chandris Group’s dry bulk arm Century Bulk Carriers Management Co. ordered two (2) ultramax bulk carrier new buildings at Cosco Zhoushan Shipyard. Century Bulk Carriers Management Co. will take the delivery of two (2) 63K DWT ultramax bulk carrier new buildings in 2025. Athens-based Michael D Chandris-led Chandris Group’s tanker arm Chandris (Hellas) Inc. owns and operates 13 large tankers, and Chandris Group’s dry bulk arm Century Bulk Carriers Management Co. owns and operates 13 bulk carriers.
28-March-2023
Dubai-based Lila Global, the shipowning subsidiary of the world’s largest cash buyer of end-of-life ships, GMS, has enhanced its relations with COSCO, solidifying its third agreement this year with the Chinese state-run shipowner. The most recent acquisition signifies a transition from wet to dry for Lila Global, the shipowning arm of GMS, shortly after procuring two Very Large Crude Carriers (VLCCs). Steve Kunzer-led shipowner and operator Lila Global has acquired 2006 built capesize bulk carrier MV CHS Splendor for around $18 million and 2003 built capesize bulk carrier MV Huang Shan for around $15 million. Anil Sharma-led GMS is a prominent purchaser of ships destined for demolition. Sharma manages the shipowning division of Lila Global, in addition to GMS (Global Marketing Systems), a prominent purchaser of ships destined for demolition. Lila Global is the shipowning subsidiary of the GMS (Global Marketing Systems).
28-March-2023
London-based Lomar Shipping appoints Marius Bujor as the esteemed new technical director. Lomar Shipping affirms that the newly appointed Marius Bujor possesses exceptional leadership qualities and is adept at embracing novel challenges. With Stylianos Papageorgiou stepping aside, Marius Bujor assumes the role of technical director for the esteemed UK shipowner, Lomar Shipping. Stationed in the Bremen office, Marius Bujor shall expertly guide Lomar Shipping’s global technical teams, situated across London, Germany, Singapore, and China. Marius Bujor’s tenure with Lomar spans eight years, having commenced in 2014 as a technical superintendent. Progressing swiftly, he assumed the position of fleet manager merely four years later and subsequently earned the distinction of deputy technical director in late 2022.
28-March-2023
Athens-based shipowner and operator W Marine Inc acquired a 2012-built kamsarmax bulk carrier for around $20 million. Improving prospects in the dry bulk shipping market have been drawing Greek shipowners, such as Nikos Triantafyllakis-led W Marine, to boost their exposure to large bulk carriers. Greek shipowners who a few months ago were purchasing bulk carriers just to replace vintage ships, as part of their fleet renewal strategies, are now more confident to expand their fleet. Currently, Athens-based shipowner and operator W Marine Inc. has a fleet of seven (7) post-panamax bulk carriers, four (4) kamsarmax bulk carriers, and three (3) panamax bulk carriers.
27-March-2023
Italian shipowner and operator Fratelli Cosulich has acquired a versatile general cargo ship from Barone Shipping, thus expanding its fleet to 16 ships. Genoa-based Fratelli Cosulich has procured the 2010 bulk carrier 9K DWT MV Toto BR for around $8 million. MV Toto BR l will be bareboat chartered to Argo Shipping. Currently, Fratelli Cosulich operates 14 ships, and it has two small-scale LNG bunker ships set to be delivered from Nantong CIMC Sinopacific Offshore & Engineering. In February 2023, Italian shipowner and operator Fratelli Cosulich welcomed the addition of the 2015 built handysize bulk carrier MV Saturnia (ex MV Venture Ocean) acquired from Japanese shipowner Doun Kisen KK (aka Doun Kisen Co. Ltd) and chartered out to Lauritzen Bulkers.
27-March-2023
Athens-based George Economou-led shipowner and operator Cardiff Marine has ordered two (2) 210K DWT newcastlemax bulk carrier new buildings at Cosco Shipping Heavy Industry Yangzhou Shipyard. Cardiff Marine will be paying around $64 million each for scrubber-fitted newcastlemax bulk carrier new buildings. In 2023, George Economou ordered tanker new buildings at Chinese shipyards worth around $600 million. Last year, George Economou-led shipowner and operator TMS Dry Ltd. ordered four (4) 63K DWT ultramax bulk carriers at Nantong Xiangyu Shipbuilding & Offshore Engineering for around $32 million each. In 2019, George Economou took DryShips off the Nasdaq Capital Market and evolved into a privately controlled company.
27-March-2023
Enterprises Shipping & Trading S.A.’s dry bulk shipping arm Safbulk Maritime S.A. reported that the 2010-built 57K DWT supramax bulk carrier MV Dynamic Striker was holed after MV Dynamic Striker hit a pier at Puerto Plata in the Dominican Republic on Saturday, with the Safbulk Maritime S.A.-managed ship sustaining bow damage just above the waterline following the impact. Victor Restis-backed shipowner and operator Enterprises Shipping & Trading S.A. said no crew member injuries have been reported and no environmental casualties have been reported, and Enterprises Shipping & Trading SA is expected to focus on damage assessment, safety checks, and the practical steps needed to stabilize operations around MV Dynamic Striker, including coordination with port authorities, marine service providers, and the technical teams responsible for maintenance standards. Enterprises Shipping & Trading SA operates as an Athens-based shipowner and operator active across bulk carrier and tanker trades, and Enterprises Shipping & Trading SA typically combines commercial employment through chartering with ongoing responsibility for ship operations, ship upkeep, and crew management, a structure that makes incident response, reporting discipline, and repair planning central to day-to-day management. Through Safbulk Maritime S.A., Enterprises Shipping & Trading SA manages dry bulk ships that trade internationally, and events such as the Puerto Plata pier allision generally trigger a familiar operational sequence for Enterprises Shipping & Trading SA: confirm crew welfare, verify there is no pollution, document damage, arrange surveys, determine repair scope and timing, and communicate clearly with stakeholders while ensuring MV Dynamic Striker remains handled under safe procedures. In that context, Enterprises Shipping & Trading SA’s immediate messaging around MV Dynamic Striker—damage localized at the bow above the waterline and no reported injuries or environmental casualties—frames the incident as primarily a repair-and-schedule issue, with Enterprises Shipping & Trading SA’s next priorities likely centered on maintaining safety, preserving compliance, and restoring MV Dynamic Striker to service once the necessary checks and remedial work are completed.
27-March-2023
Angeliki Frangou-led New York-listed shipowner and operator Navios Maritime Holdings (NM) appointed Doric Shipbrokers co-founder Vassilios Mouyis as a member of BOD (Board of Directors). Vassilios Mouyis is replacing board member Orthodoxia Zisimatou. Previously, Vassilios Mouyis was a director at Navios Maritime Midstream Partners and Navios Maritime Containers. In late July 2022, New York-listed shipowner and operator Navios Maritime Holdings (NM) sold its 36 bulk carriers to spin-off Navios Maritime Partners for $835 million. Navios Maritime Partners and Navios Maritime Acquisition merged to bring together bulk carriers with tankers. Currently, Angeliki Frangou-led Navios Partners has a fleet of 190 vessels and 24 newbuildings.
27-March-2023
Lubeck-based shipowner and operator Oldendorff Carriers’ director of business development and strategy Scott Bergeron expressed the dry bulk market is in for a rough ride. Lubeck-based shipowner and operator Oldendorff Carriers expressed that the dry bulk shipping business cannot rely exclusively on China for prosperity. The dry bulk shipping market made some progress in February as China reopened its manufacturing sector, but macroeconomic indicators indicate a rather gloomy outlook for the dry bulk shipping market. The Baltic Exchange’s Capesize 5TC increased to $15,611 per day on Friday due to China’s outstanding post-Covid 19 recovery. Furthermore, has completely lifted its ban on Australian coal.
27-March-2023
Athens-based Tsakos Group’s ship management arm Tsakos Columbia Shipmanagement (TCM) S.A. and Columbia Group have decided to discontinue the joint venture agreement. Schoeller Holdings-controlled Columbia Group selling the company’s shares to Nikolas Tsakos-led Tsakos Group. Columbia Group CEO Mark O’Neil remarked that successful technical management operation is coming to an end. Greek shipowner and operator Tsakos Group has now acquired full ownership of m Tsakos Columbia Shipmanagement (TCM) S.A. and this leaves both companies free to pursue their business development strategies. Athens-based shipowner and operator Tsakos Group has a diversified fleet of ships comprising LNG, tankers, bulk carriers, and container ships. Tsakos Group incorporates Tsakos Energy Navigation Limited (TEN), Tsakos Shipping & Trading, Tsakos Columbia Shipmanagement (TCM) S.A, Tsakos Shipping (London) Ltd, Maria Tsakos TCM Academy, Tsakos Maritime Philippines Inc (TMPI), Argosy Insurance Company Ltd, Tsakos Industrias Navales S.A., and Tsakos Conbulk Services (TCB) S.A.
26-March-2023
Singapore-based shipowner and operator Kumiai Navigation Pte Ltd, a wholly-owned subsidiary of Japanese shipowner Kumiai Senpaku Co Ltd, has placed an order for its third liquefied petroleum gas (LPG)-fuelled 86,700 cu m Very Large Gas Carrier (VLGC) at Japanese shipbuilder Kawasaki Heavy Industries (KHI), with delivery scheduled for 2026 from KHI’s Sakaide Works, and although no contract price has been disclosed, the VLGC will be capable of simultaneously transporting LPG and liquefied ammonia gas in separate cargo tanks, and will be powered by low-sulfur fuel oil and LPG to comply with the International Maritime Organization’s latest SOx emissions regulations and EEDI Phase 3 standards; similar VLGCs have been ordered by other Japanese shipowners at KHI for deliveries between 2023 and 2025, and this will mark the twelfth LPG/NH3 carrier built by Kawasaki Heavy Industries (KHI); Singapore-based Kumiai Navigation Pte Ltd, acting as the international operational arm of Kumiai Senpaku, currently controls a diversified fleet of 7 Very Large Gas Carriers (VLGCs), 2 small LPG carriers, and 11 bulk carriers, with a growing presence in both gas and dry bulk shipping markets; the company is known for its focus on long-term stability, technical excellence, and chartering reliability, maintaining close relationships with global energy majors and commodity firms, and is actively pursuing environmentally responsible fleet expansion, with a strategic emphasis on LPG and ammonia-ready technologies that align with emerging decarbonization and regulatory standards across the shipping industry.
25-March-2023
London-based Lomar Shipping ventures into the realm of cutting-edge technology, distancing itself from traditional containers. A novel technological enterprise emerges, presenting ships as exquisite “floating labs” designed to address the most profound challenges in the maritime domain. Spearheaded by Nicholas Georgiou, Lomar Shipping intends to expand its horizons by forming partnerships with deep-tech maritime start-ups. The newly established venture, known as “Lomarlabs,” aims to extend support and financing to early-stage tech companies within the maritime industry. At the helm of Lomarlabs stands Stylianos Papageorgiou, former technical director of Lomar Shipping, assuming the role of managing director. The initial undertakings will primarily concentrate on matters of energy efficiency, fuel transition, carbon capture, and elimination, as well as automation.
24-March-2023
Norwegian shipowner and operator Torvald Klaveness reported the strongest operating result for more than a decade. CEO Ernst Meyer-led Norwegian shipowner and operator Torvald Klaveness stated that the company will focus on bulker and combination carrier operations under the operations of subsidiary Klaveness Combination Carriers (KCC). Oslo-based shipowner and operator Torvald Klaveness reported Ebitda of $116 million at the end of 2022. Torvald Klaveness reported net profit of $65 million at the end of 2022. Torvald Klaveness reported revenue of $551 million at the end of 2022. In 2022 Norwegian shipowner and operator Torvald Klaveness’s net profit was up from continuing operations.
24-March-2023
Capesize bulk carrier values increased by 16.4% since the beginning of March 2023, from $53 million to $62 million, the highest levels since August 2022. China’s dumping of trade restrictions on Australian coal imports has increased 180K DWT capesize bulk carrier prices. Positive dry bulk market sentiment could lift capesize bulk carrier prices even higher.
24-March-2023
Montreal-based shipowner and operator Canfornav controlled 2014 built handysize bulk carrier 36K DWT MV Smew’s fertilizer cargo had been seized in Kotka, Finland. Canfornav controlled 2014 built handysize bulk carrier 36K DWT MV Smew stopped from entering port due to fertilizer cargo on board with alleged links to a Russian oligarch. Canadian shipowner and operator Canfornav state fertilizer cargo is US-owned as bulker cleared to load in Finland. Finland Kotka Port Authority held the 20K metric tons of fertilizer cargo on MV Smew. Montreal-based shipowner and operator Canfornav expressed that the fertilizer cargo is owned by a United States company. Before fixing the fertilizer cargo on a voyage charter on MV Smew, due diligence was exercised by Canadian shipowner and operator Canfornav. Finland Kotka Port Authority has cleared the loading of Canfornav controlled 2014 built handysize bulk carrier 36K DWT MV Smew.
22-March-2023
Athens-based shipowner and operator Brave Maritime Corporation Inc., which is controlled by the Vafias family, has recently acquired two capesize bulk carriers from Monaco-based shipowner and operator GoodBulk Ltd (GBLK). The purchases include a 2010-built MV Aquavictory with a capacity of 182,000 deadweight tons (DWT) for around $26.5 million and a 2012-built MV Aquaexplorer, also with a capacity of 182,000 DWT, for around $28.5 million. Brave Maritime Corporation Inc. is expected to take delivery of both vessels in May 2023 from GoodBulk Ltd (GBLK). GoodBulk Ltd (GBLK), which is led by Michael Radziwill, has been divesting several vessels in recent months to increase its cash reserves and maintain its dividend capacity. The Vafias Group was one of the first companies to invest in capesize bulk carriers during the current shipping cycle, acquiring ships at a time when market conditions appeared unfavorable and concerns existed about the strength of China’s post-pandemic economic recovery. GoodBulk Ltd is a publicly listed company in Oslo and is the subsidiary of privately owned C Transport Maritime (CTM). Currently, Monaco-based shipowner and operator GoodBulk Ltd (GBLK) owns eighteen (18) capesize bulk carriers and one (1) panamax bulk carrier.
Monaco-based shipowner and operator GoodBulk Ltd (GBLK) sold two (2) capesize bulk carriers to Danish shipowner and operator Dampskibsselskabet DS Norden A/S. John Michael Radziwill-led GoodBulk Ltd (GBLK) sold 2012 built capesize bulk carrier 179K DWT MV Aquatonka and 2012 built capesize bulk carrier 179K DWT MV Aquahaha for around $56 million total in an en bloc deal to Jan Rindbo-led Dampskibsselskabet DS Norden A/S. Nasdaq and Oslo-listed GoodBulk Ltd (GBLK) will deliver two (2) capesize bulk carriers in April and May 2023. Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S will operate 25 capesize bulk carriers. Nasdaq and Oslo-listed GoodBulk Ltd (GBLK) has chosen to partner with C Transport Maritime S.A.M. for the ship management of all the bulk carriers.
22-March-2023
Lubeck-based shipowner and operator Oldendorff Carriers’ CEO Peter Twiss retired. Peter Twiss turned Oldendorff Carriers into the world’s biggest private bulk carrier operator. Peter Twiss worked more than 27 years at Henning Oldendorff-led Oldendorff Carriers. Furthore, Oldendorff Carriers’ Copenhagen-based chartering manager Yannis Efstathiou retired after working 22 years at Oldendorff Carriers. Private family-owned Oldendorff Carriers appointed Patrick Hutchins as the new CEO (Chief Executive Officer). Currently, German shipowner and operator Oldendorff Carriers has an operational fleet of 117 bulk carriers.
22-March-2023
Limassol-based alternative investment fund Pelagic Partners (Pelagic Yield Fund) is seeking to expand its bulker portfolio following the addition of tankers in 2022 and the recent acquisition of a handy-sized bulk carriers. The Cyprus-based alternative investment fund Pelagic Partners (Pelagic Yield Fund) announced the purchase of the 2011 built handysize bulk carrier 35K DWT MV UBC Hamburg. Several shipbrokers have confirmed that 2011 built handysize bulk carrier 35K DWT MV UBC Hamburg was acquired from Hamburg-based shipowner and operator Carrier 53 for around $14 million. 2011 built handysize bulk carrier 35K DWT MV UBC Hamburg will be included in the United Bulk Carriers (UBC) USA Pool for trading purposes. Limassol-based alternative investment fund Pelagic Partners (Pelagic Yield Fund was established by the Hartmann and Abou Merhi families, renowned for managing one of the largest shipping portfolios in Cyprus. Launched in March of the previous year, the Pelagic Yield Fund currently manages assets worth $80 million. With the addition of the former MV Shanghai Pearl, the Pelagic Partners’ fleet now consists of four (4) ships, with a strong desire for further bulker acquisitions. The primary objective of Pelagic Partners (Pelagic Yield Fund) is to enhance their presence in the bulk carrier market, specifically targeting the handysize segment. Therefore, the purchase of 2011 built handysize bulk carrier 35K DWT MV UBC Hamburg marks the beginning of a series of forthcoming acquisitions, as the Pelagic Partners (Pelagic Yield Fund) awaits the discovery of suitable assets.
22-March-2023
Singapore-based Chinese-backed shipowner and operator Winning Shipping sold 2001 built capesize bulk carrier 171K DWT MV Sunny Voyager for demolition in Bangladesh at $610 per LDT (Light Displacement Tonnage), or $13.8 million. Winning International Group’s ship-owning arm Winning Shipping sold one of the company’s vintage capesize bulk carrier MV Sunny Voyager to a cash buyer scrapyard in Chattogram. 2001 built capesize bulk carrier 171K DWT MV Sunny Voyager is one of three (3) ships that S&P (Sale and Purchase) shipbrokers have reported as being sold to a Bangladeshi scrapyard over the past week. On the other hand, scrapyards in India and Pakistan sat on the sidelines and held off buying any demolition vessel. Currently, Sun Xiushun-led Winning Shipping is one of the great capesize shipowners with a fleet of 39 large dry bulk carriers.
21-March-2023
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime (CTRM) sold 2007 built panamax bulk carrier 73K DWT MV Magic Rainbow for around $12 million. Petros Panagiotidis-led shipowner Castor Maritime (CTRM) anticipates banking a net gain of $4.4 million from the sale of MV Magic Rainbow. Cyprus-based shipowner and operator Castor Maritime sells the first bulk carrier for a profit after a tremendous ship acquisition. Lately, Castor Maritime (CTRM) split off the company’s tankers into the new spin-off Toro Corp. Currently, Nasdaq-listed shipowner and operator Castor Maritime owns and operates nineteen (19) bulk carriers and two (2) container ships.
21-March-2023
London-listed Taylor Maritime Investments (TMI), the spin-off of Hong Kong-based shipowner Taylor Maritime, takes the reins at Singapore-based shipowner and operator Grindrod Shipping (GRIN). Grindrod Shipping’s (GRIN) Interim CEO Stephen Griffiths is returning to the United Kingdom after working 13 years as Edward Buttery-led Taylor Maritime Investments (TMI) reshapes top executives of the New York-listed shipowner and operator Grindrod Shipping (GRIN). Previously, Singapore-based shipowner and operator Grindrod Shipping (GRIN) increased its fleet following the purchase of the outstanding portion of subsidiary company IVS Bulk. Later, Taylor Maritime Investments (TMI) acquired Grindrod Shipping (GRIN). Edward Buttery has been appointed as the new CEO of Grindrod Shipping (GRIN). Edward Buttery takes up the CEO position with current interim CEO Stephen Griffiths retiring from Grindrod Shipping (GRIN). New York-listed shipowner and operator Grindrod Shipping (GRIN) has appointed Deborah Davel as the company’s new CFO (Chief Financial Officer). Previously, Taylor Maritime Investments (TMI) declared the completion of the deal to acquire the remaining shares in Singapore-based shipowner and operator Grindrod Shipping (GRIN).
21-March-2023
New York-listed shipowner and operator Safe Bulkers (SB) started a $17 million share buyback programme. In New York Stock Exchange-listed, Limassol and Athens-based Safe Bulkers’ (SB) common stock rises 2.4% to $3.41 per share after the statement. Polys Hajioannou-led shipowner and operator Safe Bulkers (SB) may return cash to shareholders through a fresh stock buyback programme. Safe Bulkers (SB) plans to buy back up to 5 million shares from time to time at New York Stock Exchange. 5 million shares represent about 4.3% of Safe Bulkers (SB) and 6.6% of the company’s public float. Lately, Safe Bulkers (SB) ordered nine (9) kamsarmax bulk carriers in China and Japan. Currently, Safe Bulkers (SB) has a mixed fleet of 41 vessels.
21-March-2023
Nasdaq-listed pure-play capesize owner Seanergy Maritime (SHIP) CEO Stamatis Tsantanis is bullish on capesize bulk carriers. Athens-based shipowner Seanergy Maritime (SHIP) can give several explanations as to why the company anticipates the rising capesize bulker market to resume its upward trend, following a months-long ongoing decline. Seanergy Maritime (SHIP) CEO Stamatis Tsantanis justified that UAE’s $1.5 trillion investment in infrastructure to 2030 is underplayed and underexplained in shipping. The Baltic Exchange’s Capesize 5TC increased by 1.7% on Monday. Seanergy Maritime (SHIP) notice signs of recovery with capesize bulk carrier spot rates and forward increase substantially in recent weeks. Currently, Seanergy Maritime (SHIP) owns and operates 16 capesize bulk carriers.
20-March-2023
Taiwanese shipowner and operator Wisdom Marine Lines Co Ltd ordered two (2) handysize bulk carriers at a shipyard in Japan. Chun-Sheng Lan-led shipowner and operator Wisdom Marine Lines Co Ltd breaks ordering hiatus to order two (2) 40K DWT handysize bulk carrier new-buildings at Namura Shipbuilding. Taiwan Stock Exchange-listed shipowner and operator Wisdom Marine Lines Co Ltd will spend $66 million for two (2) handysize bulk carriers. Wisdom Marine Lines Co Ltd will take the delivery of two (2) handysize bulk carriers in 2026. Taipei-based shipowner and operator Wisdom Marine Lines Co Ltd is part of Wisdom Marine Group. Two (2) 40K DWT handysize bulk carrier new-buildings will operate on conventional bunkers. Currently, Wisdom Marine Group is the largest dry bulk shipowner in Taiwan by number of ships. Wisdom Marine Lines Co Ltd has a fleet of 148 bulk carriers.
19-March-2023
Tokyo Stock Exchange-listed shipowner and operator K Line (Kawasaki Kisen Kaisha) schedules to raise the cash pot for the company’s executives by 33% and reward executives for reducing CO2 emissions in the fleet. Japanese shipowner and operator K Line’s (Kawasaki Kisen Kaisha) plans will be debated at a shareholder meeting in June 2023 that would pursue to boost the maximum rewards for executives from $4.4 million to $5.9 million. Yukikazu Myochin-led shipowner and operator K Line’s (Kawasaki Kisen Kaisha) plan aims to shift the emphasis of company executives’ remuneration to securing long-term objectives including advancements in CO2 emissions efficiency. Tokyo-based shipowner and operator K Line (Kawasaki Kisen Kaish) is aiming to revamp the company’s executive pay structure with this method.
19-March-2023
Athens-based Tsakos Group’s dry bulk shipping arm Tsakos Conbulk Services (TCB) S.A. managed 2007 built kamsarmax bulk carrier 83K DWT MV London 2012 grounded Babitonga Bay near Porto Itapoa off Brazil on 14 March 2023. Liberia-flagged MV London 2012 was carrying a cargo of soybeans. Tsakos Conbulk Services (TCB) S.A. managed MV London 2012 was assisted by tug boats in an attempt to refloat the ship. The Brazilian navy expressed the grounding of MV London 2012 did not affect other ship traffic in the channel. No pollution was reported by the authorities. Tsakos Conbulk Services (TCB) S.A. was requested to take precautionary measures connected to the prevention of environmental damage. A diver checked the condition of the MV London 2012’s hull. Athens-based Tsakos Group’s dry bulk shipping arm Tsakos Conbulk Services (TCB) S.A. had to submit a preliminary salvage plan. An investigation will be embarked upon to determine the cause of the incident. Tsakos Conbulk Services (TCB) S.A. managed MV London 2012 has insurance through the North of England P&I Club (Protection and Indemnity Club). MV London 2012 is classed by BV (Bureau Veritas). The dry bulk fleet sector of the Tsakos Group was placed under the management of Tsakos Conbulk Services (TCB) S.A. Tsakos Shipping and Trading S.A. manages a diversified fleet of ships comprising LNG, tankers, bulk carriers, and container ships.
18-March-2023
New York Stock Exchange (NYSE) listed Connecticut-based shipowner and operator Eagle Bulk Shipping (EGLE) is now a compelling investment after recent share price plunges. CEO Gary Vogel-led shipowner and operator Eagle Bulk Shipping (EGLE) has become a compelling option for investors looking to capitalize on a strengthening dry bulk shipping market. Eagle Bulk Shipping (EGLE) Q4 2022 Ebitda of $41.3 million missed the consensus estimate of $63 million which pushed Eagle Bulk Shipping’s (EGLE) stock price down 16%. The earnings miss and stock market weakness recently has shifted Eagle Bulk Shipping’s (EGLE) stock from trading above NAV (Net Asset Value) to trading with a discount to NAV (Net Asset Value). Currently, New York-listed shipowner and operator Eagle Bulk Shipping (EGLE) owns and operates 54 bulk carriers.
18-March-2023
Norwegian ship owner and operator Grieg Maritime Group’s Head of Ship Management Atle Sommer express that Grieg Star was surprised about how comprehensive and complex the technical work will be to retrofit Grieg Maritime Group’s bulk carriers to run on ammonia. Grieg Star the ship management arm of Grieg Maritime Group commented that retrofitting bulk carriers to operate on ammonia is still too costly, the supply of the ammonia bunker is in its infancy and the unclear regulatory backdrop is slowing progress. These are the critical findings following a trial of ammonia bunker onboard Grieg Maritime Group’s bulk carriers shipping pulp cargoes on transatlantic trips. Norwegian ship owner and operator Grieg Maritime Group expected that the publication of a report will engage the broader shipping industry to assist figure out how these obstacles might be overcome when operating ships with ammonia bunkers. Last summer, Norwegian ship owner and operator Grieg Maritime Group decided to retrofit eleven (11) L-class 50K open-hatch bulk carriers to operate on ammonia bunkers.
17-March-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2011 built kamsarmax bulk carrier 82K DWT MV Leonidas PC to ship operator Cargill Ocean Transportation for around one (1) year. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) will be receiving around $5.61 million total from ship operator Cargill Ocean Transportation. Currently, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) owns and operates 41 bulk carriers.
17-March-2023
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) sold the 2007 built supramax bulk carrier 58K DWT MV Sun Globe for around $14 million. CEO Athanasios Feidakis-led Globus Maritime (GLBS) will deliver the MV Sun Globe to new Chinese shipowners in May 2023. 2007 built supramax bulk carrier 58K DWT MV Sun Globe is one of the three oldest ships in the company’s fleet. Malta-flagged MV Sun Globe was constructed at the Tsuneishi Heavy Industries (Cebu). Nasdaq-listed shipowner and operator Globus Maritime (GLBS) controlled bulk carriers are managed by Athens-based Globus Shipmanagement. Currently, Athens-based shipowner and operator Globus Maritime (GLBS) owns and operates three (3) supramax, one (1) panamax, and four (4) kamsarmax bulk carriers.
17-March-2023
Nasdaq-listed Rhode Island-based dry bulk shipowner and operator Pangaea Logistics Solutions (PANL) reported an adjusted net income of $14.3 million, or $0.32 per share for Q4 2022. Pangaea Logistics Solutions (PANL) reported on total revenue of $128 million for Q4 2022. Mark Filanowski-led shipowner and operator Pangaea Logistics Solutions (PANL) once again has demonstrated the company’s resiliency in a falling dry bulk market as Pangaea Logistics Solutions (PANL) managed to turn a profit and notch a 41% rates premium in Q4 2022 that was significantly weaker year-over-year. Dry bulk carrier rates weakened further at the beginning of 2023. Currently, Pangaea Logistics Solutions (PANL) owns and operates 24 bulk carriers.
17-March-2023
New York-listed shipowner and operator Seanergy Maritime (SHIP) reported a $493,000 profit for Q4 2022. Stamatis Tsantanis-led Nasdaq-listed shipowner and operator Seanergy Maritime (SHIP) beats shipping analyst estimates and Baltic Exchange TCE (Time Charter Equivalent) assessments. Athens-based Seanergy Maritime (SHIP) barely made a profit in 2022 due to China’s stumbling real estate sector caused the capesize bulker market to plunge from historic highs in 2021. Seanergy Maritime (SHIP) reported a $932,000 net income for Q4 2022. In Q4 2021, Seanergy Maritime (SHIP) reported a $27.9 million net income. Seanergy Maritime (SHIP) reported $27.2 million in revenue for Q4 2022. In Q4 2021, Seanergy Maritime (SHIP) reported $56.7 million in revenue. In 2021, post-Covid-19, average capesize bulk carrier rates skyrocketed as port congestion tied up supply. In September 2021, average capesize bulk carrier rates increased to $87,000 per day. In Q4 2022, New York-listed pure-play capesize owner Seanergy Maritime (SHIP) earned average time charter equivalent (TCE) rates of $17,300 per day. Seanergy Maritime (SHIP) earned average time charter equivalent (TCE) rates of $20,400 per day for the full year of 2022. Seanergy Maritime (SHIP) reported a $17.2 million profit for the full year of 2022. Seanergy Maritime (SHIP) reported a $41.3 million profit for the full year of 2021. Seanergy Maritime (SHIP) reported a $125 million revenue for the full year of 2022. Stamatis Tsantanis-led Nasdaq-listed shipowner and operator Seanergy Maritime (SHIP) has outperformed the market consistently over the past quarters. Seanergy Maritime (SHIP) reported another profitable year despite the prevailing international economic and political challenges that have negatively affected the shipping industry. Seanergy Maritime (SHIP) delivered a shareholder dividend of $0.025 per share for Q4 2022. Seanergy Maritime’s (SHIP) plan is to keep a balance between financial flexibility, capital returns, and investment opportunities. Seanergy Maritime (SHIP) anticipates the increasing capesize bulk carrier market to keep improving as China’s manufacturing and real-estate sectors get back on track. Seanergy Maritime (SHIP) notice signs of recovery with capesize bulk carrier spot rates and forward increase substantially in recent weeks. Currently, Seanergy Maritime (SHIP) owns and operates 16 capesize bulk carriers.
17-March-2023
London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) is anticipating more increases in secondhand tanker and bulk carrier prices in 2023. Tufton Oceanic Assets Limited (TOAL) is bullish on both tanker and bulk shipping markets following a robust 2022. Tufton Investment Management CIO (Chief Investment Officer) Paulo Almeida acknowledges there is additional upside to asset values due to limited shipyard capacity for new ship deliveries and tighter environmental regulations which increase newbuild ship prices. London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) is predicting better bulk carrier freight rates from the H2 2023, assisted by the easing of pandemic related restrictions in China and low ship supply.
16-March-2023
Limassol and Athens-based Safe Bulkers (SB) signed a sale and lease back deal. Polys Hajioannou-led shipowner and operator Safe Bulkers (SB) sold 2012 built panamax bulk carrier 75K DWT MV Efrossini for around $22.5 million with a delivery date in June. New York-listed shipowner and operator Safe Bulkers (SB) chartered back 2012 built panamax bulk carrier 75K DWT MV Efrossini at $16,050 per day for a year. Safe Bulkers (SB) is continuing its fleet renewal program. Lately, Safe Bulkers (SB) ordered nine (9) kamsarmax bulk carriers in China and Japan. Currently, Limassol and Athens-based Safe Bulkers (SB) has a mixed fleet of 41 ships.
16-March-2023
Qingdao-based shipowner and operator Seacon Shipping Group Ltd schedules to raise up to $62 million on Hong Kong Stock Exchange IPO (Initial Public Offering). Chinese shipowner and operator Seacon Shipping Group Ltd is going public and will be listed on the Hong Kong Stock Exchange. Seacon Shipping Group Ltd designs to issue as many as 125 million shares at the price of $0.41 to $0.49 per share. Seacon Shipping Group Ltd will allocate funds raised on Hong Kong Stock Exchange IPO (Initial Public Offering) to fleet expansion and opening new overseas offices. Furthermore, Seacon Shipping Group Ltd plans to expand the company’s ship-management business. Recently, Qingdao-based shipowner and operator Seacon Shipping Group Ltd took delivery of 2023 built kamsarmax bulk carrier 85K DWT MV Seacon Nola from Huangpu Wenchong Shipbuilding. Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 110 ships.
15-March-2023
China has fully lifted its Australian coal ban after enforcing the embargo in 2020 in response to Australia calling for an independent probe into Covid-19’s origin. China orders ports and customs offices to allow coal cargo from Australia, after Chinese authorities let four (4) main coal importers resume buying the coal in January 2023. China’s steelmakers and power plants import high-quality Australian coal which might reach 1 million tonnes in March.
15-March-2023
Jiangsu Runchang Shipping Co Ltd managed 2010 built handysize bulk carrier 32K DWT MV Loyalty Hong has lost power after suffering engine room flooding in New Zealand. The Panama-flagged 2010 built handysize bulk carrier 32K DWT MV Loyalty Hong lost the power to run its engines following water ingress. MV Loyalty Hong is operating an emergency generator to power the bulk carrier’s systems. Limited power has also been restored on MV Loyalty Hong to close hatches, retract cranes and operate mooring winches. Currently, MV Loyalty Hong is kept in stable condition. MV Loyalty Hong’s crew members are safe. China-based Glory Loyalty Hong Ltd owned and Jiangsu Runchang Shipping Co Ltd managed 2010 built handysize bulk carrier 32K DWT MV Loyalty Hong is secure alongside while awaiting parts for repair. Authorities started an investigation into the incident. Jiangsu Runchang Shipping Co Ltd managed 2010 built handysize bulk carrier 32K DWT MV Loyalty Hong departed Albany in Australia in February and arrived at Lyttelton Port New Zealand on 5 March. New Zealand-based Lyttelton Port Company representative stated the authorities are cooperating with Jiangsu Runchang Shipping Co Ltd’s representative. MV Loyalty Hong is safely secured alongside the port and awaiting repair.
14-March-2023
Athens-based shipowner and operator Byzantine Maritime Corporation (BMC) has placed an order for three (3) 41K DWT (deadweight tonnage) handysize bulk carriers at a shipyard at New Dayang Shipbuilding in China, with each handysize bulk carrier costing around $30 million. The expected delivery dates for handysize bulk carriers are in 2024 and 2025. This order is marking the first occasion on which Marios Stafilopatis-led Greek shipowner and operator Byzantine Maritime Corporation (BMC) has chosen to work with New Dayang Shipbuilding. In 2018, State-owned SUMEC Group took over Dayang Shipbuilding, which was a bankrupt subsidiary of Sinopacific Shipbuilding. Since then, SUMEC Group has meticulously focused the New Dayang Shipbuilding’s efforts on the construction of bulk carriers, successfully securing numerous bulk carrier orders.
14-March-2023
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime (CTRM) reported net earnings of $33.7 million in Q4 2022. Castor Maritime (CTRM) reported revenue of $69.3 million in Q4 2022. Lately, Castor Maritime (CTRM) split off the company’s tankers into the new spin-off Toro Corp. Petros Panagiotidis-led tanker and bulk carrier shipowner Castor Maritime’s (CTRM) shareholders receive stock in start-up Toro Corp following best-ever year. Castor Maritime (CTRM) reported an annual profit of $118.6 million for 2022. Castor Maritime (CTRM) has reported the company’s best-ever profit at the same time as conducting the spin-off of the company’s new tanker company Toro Corp. Currently, Nasdaq-listed shipowner and operator Castor Maritime owns and operates twenty (20) bulk carriers and two (2) container ships.
14-March-2023
Monaco-based shipowner and operator GoodBulk Ltd (GBLK) bought back 2,570,812 of the company’s shares. 2,570,812 shares are equivalent to 8.7% of the Nasdaq and Oslo-listed GoodBulk Ltd (GBLK). This is a substantial discount on the NAV (Net Asset Value) of GoodBulk Ltd. Monaco-based shipowner and operator GoodBulk Ltd has not disclosed the specific pricing. Nasdaq and Oslo-listed shipowner GoodBulk Ltd (GBLK) has conducted a major share buyback that the company communicated will benefit shareholders and has confirmed more bulk carrier sales. John Michael Radziwill-led GoodBulk Ltd (GBLK) stated that the dividend for the Q4 was the same as in the previous three months, which was GoodBulk Ltd’s (GBLK) biggest quarterly payout. Nasdaq and Oslo-listed GoodBulk Ltd (GBLK) has chosen to partner with C Transport Maritime S.A.M. for the ship management of all the bulk carriers. C Transport Maritime S.A.M. have an outstanding track record in supplying world leading dry bulk management services at very competitive rates. Oslo-listed GoodBulk Ltd is the public arm of privately-owned C Transport Maritime (CTM). Monaco-based shipowner and operator GoodBulk Ltd (GBLK) owns twenty (20) capesize bulk carriers and one (1) panamax bulk carrier.
14-March-2023
Houston-based Royal White Cement filed a lawsuit in the Eastern District of Louisiana seeking a maritime lien on KK Kyowa Sansho (Kyowa Sansho Co Ltd) owned 2022 built ultramax bulk carrier 61K DWT MV Weco Holli. Japanese shipowner KK Kyowa Sansho (Kyowa Sansho Co Ltd) owned MV Weco Holli is pursued by a Houston-based cement company Royal White Cement for cargo damage. Royal White Cement claims the company has about a $2 million lien on MV Weco Holli. Royal White Cement’s cargo was damaged during a voyage across the Gulf of Mexico on MV Weco Holli. Houston-based Royal White Cement alleges that the MV Weco Holli had cargo destined for New Orleans packed on top of cargo destined for Houston and that it was all unloaded once the ship arrived in Louisiana, at which point the cement cargo was damaged, either during cargo operations or during the trip to Texas.
13-March-2023
Star Bulk Carriers’ president Hamish Norton commented that scrubber-fitted vessels’ discharge has less sulphur concentrate thansparkling water. Athens-based New York-listed shipowner and operator Star Bulk Carriers’ (SBLK) president Hamish Norton remarked that discharge from exhaust gas scrubbers actually has a lower concentration of sulphur in it than a sparkling water. Petros Pappas-led shipowner and operator Star Bulk Carriers’ (SBLK) president Hamish Norton noted that the inspection of scrubber effluent when addressing widely held concerns of its impact on the marine environment. Nasdaq-listed shipowner and operator Star Bulk Carriers’ (SBLK) president Hamish Norton reported that the sulphur scrubber-fitted vessels add is less concentrated than the sulphur in a sparkling water, by a reasonable amount actually. Currently, Petros Pappas-led shipowner and operator Star Bulk Carriers (SBLK) has a fleet of 129 vessels.
12-March-2023
Limassol and Athens-based Safe Bulkers (SB) is not scared to order new bulk carriers despite bunker uncertainty in the new building market. Polys Hajioannou-led shipowner and operator Safe Bulkers (SB) has nine (9) kamsarmax bulk carriers on order in China and Japan. New York-listed shipowner and operator Safe Bulkers (SB) will take delivery of nine (9) kamsarmax bulk carriers up to 2025. Safe Bulkers (SB) clarifies that the average age of the company’s ships needs to hold at average 10 years. Hajioannou-led shipowner and operator Safe Bulkers (SB) is among a minority of shipowners in placing large numbers of new ship orders in uncertain times. Limassol and Athens-based Safe Bulkers (SB) has exemplified the vision is to maintain the company’s average fleet age down and Safe Bulkers (SB) cannot afford to wait for new zero-carbon fuels to materialize. Currently, Limassol and Athens-based Safe Bulkers (SB) has a mixed fleet of 42 ships.
8-March-2023
Oslo OTC Market-listed (Over the Counter) 2020 Bulkers reported an Average TCE (Time Charter Equivalent) income of $15,800 per day in February, down from $16,500 in January 2023. Norwegian shipowner 2020 Bulkers has increased earnings from fixed-rate charters as index-linked returns fall for the company’s bulk carriers. Fixed time charter switches begin to make sense for Tor Olav Troim-backed 2020 Bulkers. Newcastlemax bulk carriers’ earnings from fixed contracts increase as index-linked returns plunge. The two (2) newcastlemax bulk carriers trading on index-linked time charters collected $9,500 per day in February 2023, including average daily scrubber benefits of $3,500, compared with four (4) newcastlemax bulk carriers on index-linked deals that earned $15,900 in January 2023. Currently, Norwegian shipowner 2020 Bulkers has a fleet of eight (8) newcastlemax bulk carriers.
8-March-2023
The world’s biggest shipbroker Clarksons reported a profit before tax of $121.5 million for 2022. In 2021, CEO Andi Case-led shipbroker Clarksons reported a profit before tax of $82.15 million. London-listed shipbroking giant Clarksons reported net earnings of $94.21 million for 2022. In 2021, Clarksons reported net earnings of $64.37 million. There was a remarkably robust performance in the shipbroking division. London-listed shipbroking giant Clarksons has enjoyed a record year for earnings, increasing the company’s investment firepower. Clarksons has free cash resources of $155 million as broking operations prosper.
7-March-2023
Dubai-based Lila Global, the shipowning subsidiary of the world’s largest cash buyer of end-of-life ships, GMS, has achieved a remarkable return on investment in its most recent transaction. Lila Global, the shipowning arm of GMS (Global Marketing Systems), has successfully sold the 2007 built tanker 51K DWT MT Lila Rhine for around $23 million to a Turkish shipowner. Lila Global acquired 2007 built tanker 51K DWT MT Lila Rhine for around $9.8 million towards the end of 2021. This marks the fourth publicly announced sale made by Lila Global in 2023. Lila Global commenced the year by acquiring its second Very Large Crude Carrier (VLCC) from COSCO. 2003 built tanker MT Cosglory Lake was obtained in a transaction reminiscent of the earlier purchase of the slightly older tanker MT Lila Zhuhai (ex MT Cosgreat Lake). MT Lila Zhuhai (ex MT Cosgreat Lake was subsequently sold after a month to Glorious Affluence.
7-March-2023
Athens-based shipowner and operator Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold 2000 built capesize bulk carrier 172K DWT MV Sunlight for demolition. Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold MV Sunlight as is in Singapore at around $572 LDT (Light Displacement Tonnage). Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold MV Sunlight to a Bangladesh ship breaker. As the monetary stress in Bangladesh eases, Bangladesh demolition yards lure with some high-value scrapping contracts. Bangladeshi ship demoliton market has been impressing all shipbrokers.
7-March-2023
Lubeck-based shipowner and operator Oldendorff Carriers sold four (4) ultramax bulk carriers. CEO Henrik Christiansen-led German shipowner and operator Oldendorff Carriers sold two (2) ultramax bulk carriers to Idan Ofer-backed XT Shipping and two (2) ultramax bulk carriers to Laskaridis-owned Lavinia Corporation. German shipowner and operator Oldendorff Carriers sold ultramax bulk carriers at around $32 million per ship. Currently, Lubeck-based shipowner and operator Oldendorff Carriers has an operational fleet of 115 bulk carriers.
6-March-2023
New York Stock Exchange (NYSE) listed Connecticut-based shipowner and operator Eagle Bulk Shipping (EGLE) has no immediate strategies to buy or sell more bulk carriers for the time being. CEO Gary Vogel-led Eagle Bulk Shipping (EGLE) acquired one (1) supramax bulk carrier and four (4) ultramax bulk carriers since Q3 2022. Eagle Bulk Shipping (EGLE) predicts that bulk carrier prices should increase due to the aging fleet and low order book in shipyards. New York Stock Exchange (NYSE) listed shipowner and operator Eagle Bulk Shipping (EGLE) has no immediate strategies to buy or sell any more bulk carriers. Eagle Bulk Shipping’s (EGLE) stance on the S&P (sale-and-purchase) market after the shipowner confirmed its three latest transactions in an earnings report. New York Stock Exchange (NYSE) listed shipowner and operator Eagle Bulk Shipping (EGLE) seems to be attached to the supramax and ultramax segments that the company knows best. Currently, New York-listed shipowner and operator Eagle Bulk Shipping (EGLE) owns and operates 54 bulk carriers.
5-March-2023
Canadian bulk carrier operator Fednav has agreed to sell its marine terminal business to Logistec Stevedoring, a subsidiary of Logistec Corporation, for $105 million. This transaction includes Fednav’s Canadian and U.S. terminal operations, encompassing Federal Marine Terminals and the logistics division, Fednav Direct. Fednav, a leading shipowner and operator known for its Lakes-fitted vessels, has managed terminal facilities across ports in Canada and the U.S. for over five decades. These facilities have offered a range of services including stevedoring, handling, and warehousing for bulk, containerized, project cargo, and general cargo. Additionally, they provided inventory management and inland transportation solutions. The Montréal-headquartered company, which operates approximately 120 bulk carriers—about 60 of which it owns—expects the transaction to be finalized by 31 March 2022. With this acquisition, Logistec Stevedoring will expand its operational footprint, adding 11 terminals to its existing network. This expansion will bring Logistec Stevedoring’s total to 90 terminals across 60 ports in North America, significantly enhancing its service capabilities in the region.
4-March-2023
Japanese shipowner NS United Kaiun Kaisha Ltd (NS United Shipping) appointed Kazuma Yamanaka as the new president. In June 2023, Kazuma Yamanaka will take over from Kazuo Tanimizu as president of NS United Kaiun Kaisha Ltd (NS United Shipping). Kazuma Yamanaka commenced his career at Nippon Steel in 1986. Kazuma Yamanaka spent his career primarily with Nippon Steel. Nippon Steel merged with Sumitomo Metal in 2012. Kazuma Yamanaka joined Japanese giant dry bulk owner NS United Kaiun Kaisha (NS United Shipping) in 2020. Nippon Steel has a 33% shareholding in NS United Kaiun Kaisha (NS United Shipping). Currently, NS United Kaiun Kaisha (NS United Shipping) manages a fleet of 127 large bulk carriers.
4-March-2023
Japanese shipowner and operator Iino Kaiun Kaisha Ltd appointed Yusuke Otani as the new president of the company. In April 2023, Yusuke Otani will take over as president of Iino Kaiun Kaisha Ltd. Yusuke Otani will be replacing Hiromi Tosha. Yusuke Otani joined Japanese shipowner and operator Iino Kaiun Kaisha Ltd in 1991. Yusuke Otani was selected as the general manager of Iino Kaiun Kaisha Ltd’s corporate planning in 2016. Japanese shipowner and operator Iino Kaiun Kaisha Ltd communicated the appointment was made so that Yusuke Otani can lead Iino Kaiun Kaisha Ltd’s next management plan. Currently, Japanese shipowner and operator Iino Kaiun Kaisha Ltd operates a mixed fleet of 94 chemical and crude tankers, bulkers, and gas carriers, including LNG carriers.
1-March-2023
Athens-based Iason Hellenic Shipping Co Ltd managed 2013 built kamsarmax bulk carrier 82K DWT MV Caravos Harmony’s two crew members were found dead on board. The investigation was initiated as two crew members were found dead on MV Caravos Harmony. Oleksiy Stavytskyy and Gutsu Denys were found in the bathrooms of their cabins on the Iason Hellenic Shipping Co Ltd managed MV Caravos Harmony off the coast of Macapa in Brazil on 21 February.