Ciner Shipping

Istanbul-based shipowner and operator Ciner Shipping Industry & Trading ordered four (4) ultramax newbuilding bulk carriers at New Dayang Shipbuilding with three (3) options. Ciner Shipping will take the delivery of four (4) ultramax newbuilding bulk carriers in Q2 2024. Ciner Shipping’s order indicates the confidence shipowners display in a shipping supercycle post-coronavirus recovery. Rising dry bulk freight rates have sparked an increase for bulk carriers in the secondhand market, making bulk carriers increase by more than half since the start of 2021. Currently, the price tag of a 2015 built ultramax bulk carrier surpasses $30 million which was the cost of a similar new building. Istanbul-based shipowner and operator Ciner Shipping Industry & Trading is familiar with New Dayang Shipbuilding. Previously, Ciner Shipping ordered and took delivery seven (7) ultramax bulk carriers. Ciner Shipping’s four (4) ultramax newbuilding bulk carriers will be built to the IMO’s Tier III NOx standards. Ciner Shipping Industry & Trading was founded in 2009 by Turgay Ciner. 8-September-2021

 

Istanbul-based shipowner and operator Ciner Shipping Industry & Trading made the first move in the S&P (Sale and Purchase) market for secondhand bulk carriers. Ciner Shipping acquired 2016 built capesize bulk carrier 180K DWT MV Stella Nora and 2016 built capesize bulk carrier 180K DWT MV Stella Naomi for $44 million each. Ciner Shipping acquired capesize bulk carriers from Cara Shipping. Ciner Shipping will take the delivery of MV Stella Nora and MV Stella Naomi in October 2021. MV Stella Nora and MV Stella Naomi were built at Shanghai Waigaoqiao Shipbuilding. MV Stella Nora and MV Stella Naomi have a BWTS (Ballast Water Treatment Systems) fitted. Ciner Shipping will charter out MV Stella Nora and MV Stella Naomi to Germany-based RWE Group. Previously, Ciner Shipping chartered out 2015 built capesize bulk carrier 180K DWT MV Vittoria and 2015 built capesize bulk carrier 180K DWT MV Mehmed Fatih to Germany-based RWE Group. CEO Vasileios Papakalodoukas-led Ciner Shipping wants to profit from a red-hot dry bulk freight market. 5-September-2021

 

Turkish Ciner Ship Management owned 2013 built ultramax bulk carrier MV Kenya was arrested in Gujarat, India. ING Bank continues to chase shipowners for payments owed to OW Bunker. High Court of Gujarat ordered the arrest of the Ciner Ship Management ship. Ciner Ship Management owned ultramax bulk carrier MV Kenya was fixed to Danish ship operator Copenship. Copenship declared bankruptcy in 2015 and left the bunker bill unpaid to OW Bunker. 24-August-2016