Singapore-based ship operator Raffles Ship Chartering Pte Ltd, a subsidiary of commodity trader Wilmar International, has chartered the 2010-built panamax bulk carrier 75K DWT MV Selina from Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX). Raffles Ship Chartering Pte Ltd will pay a charter rate of $10,500 per day for a period extending from a minimum of March 1, 2025, to a maximum of April 20, 2025. The time charterparty with Raffles Ship Chartering Pte Ltd commenced on October 17, 2024. For the minimum duration of the charter, Raffles Ship Chartering Pte Ltd will pay approximately $1.39m to the Semiramis Paliou-led Diana Shipping Inc. (DSX). Raffles Ship Chartering Pte Ltd is a prominent player in the global shipping industry, known for its strategic operational practices and its significant role in managing cargo logistics for its parent company, Wilmar International. The company specializes in the bulk transport of commodities such as grains, minerals, and coal, leveraging its expertise to optimize shipping routes and maximize fleet utilization. Raffles Ship Chartering has built a reputation for its reliable and efficient service, adapting swiftly to market changes and customer demands. Currently, Diana Shipping Inc. (DSX), based in Athens, oversees a fleet of 38 bulk carriers, which includes two methanol dual fuel kamsarmax bulk carrier newbuilds slated for delivery in 2027 and 2028. This addition underscores the growing partnership between Diana Shipping and Raffles Ship Chartering, further enhancing their capacity to meet the evolving needs of the global shipping market. 23-October-2024
Shanghai-listed shipowner Highton Development is enhancing its dry bulk fleet by acquiring three (3) kamsarmax bulk carriers from Singapore-based ship operator Raffles Ship Chartering Pte Ltd, a subsidiary of commodity trader Wilmar International. Highton Development announced in a filing that it is finalizing a deal to purchase the 2012-built kamsarmax bulk carriers MV Theresa Jiangsu, MV Theresa Jilin, and MV Theresa Guangdong for a total of $57m from Raffles Ship Chartering Pte Ltd. These Hong Kong-flagged vessels are controlled by Wilmar Ship Holdings along with its ship management subsidiary, Raffles Shipping Group. Raffles Ship Chartering Pte Ltd, operating under the umbrella of Wilmar International, plays a crucial role in Wilmar’s integrated agribusiness model, facilitating the efficient transport of agricultural products. Specializing in dry bulk and chemical tankers, Raffles Ship Chartering optimizes shipping logistics to align with global trade flows and market demand. The company’s strategic operational capabilities allow it to manage a diverse fleet adeptly, ensuring timely and safe delivery of cargoes. This proficiency in fleet management and global logistics underscores its importance within Wilmar International’s broader business strategy. Founded in 2009, Shanghai-listed shipowner Fujian Highton Development Co. Ltd primarily operates in the supramax bulk carrier sector, managing a fleet of approximately 60 bulk carriers. More than half of these are owned by the company, servicing over 200 ports in more than 30 countries and regions, transporting ore, coal, and fertilizers. Fujian Highton Development Co. Ltd has been actively increasing its fleet capacity, which now stands at about 3.4m DWT. This expansion includes the acquisition of 10 ships, eight of which have been delivered. Additionally, Fujian Highton Development Co. Ltd has recently completed a six-year sale and leaseback transaction with ABC Financial Leasing for six of its bulk carriers, releasing approximately $63m in capital. This strategic move included the sale of one of its older supramax bulk carriers, further optimizing its fleet profile. 4-August-2024
Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX), led by Semiramis Paliou, has secured improved time charter contracts expected to generate at least approximately $12.5m. The company has chartered its 2013 post-panamax bulk carrier MV Electra to Refined Success Limited, a subsidiary of COSCO Shipping. The charter will run from July 2 to a period between April 1, 2023, and May 30, 2023, at a daily rate of $17,500. This rate is an increase from its previous charter to Singapore-based ship operator Raffles Ship Chartering Pte Ltd, a subsidiary of commodity trader Wilmar International, which was at $16,500 per day. Raffles Ship Chartering Pte Ltd is an integral part of the logistics and transportation operations of Wilmar International, focusing on the efficient and reliable maritime transport of commodities. Operating from Singapore, one of the busiest shipping hubs in the world, Raffles Ship Chartering has established itself as a significant player in the shipping industry. The company’s expertise includes managing a diverse fleet that transports a wide range of bulk commodities, enhancing Wilmar International’s global supply chain capabilities. Its strategic role involves not only chartering vessels but also managing logistics tailored to the needs of international trade markets, thereby supporting Wilmar’s extensive trading operations. This recent engagement with Diana Shipping Inc. underscores its active participation in the competitive shipping market, leveraging long-term charters to ensure stable and predictable logistics solutions. 5-July-2022
Shanghai Newseas Navigation Co. Ltd., the shipping division of Orient International Logistics Holding, has completed the purchase of the 2013-built ultramax bulk carrier 64K DWT MV Ocean Leopard (formerly MV Star Vivian) from Singapore-based ship operator Raffles Ship Chartering Pte Ltd, a subsidiary of commodity trader Wilmar International. Raffles Ship Chartering Pte Ltd received approximately $15.5m from the sale. Just two months prior, Raffles Ship Chartering Pte Ltd, also a subsidiary of commodity trader Wilmar International, had acquired MV Ocean Leopard (ex MV Star Vivian) from Singapore-based Norr Systems for about $14.5m. Currently, Shanghai Newseas Navigation Co. Ltd. manages a fleet of three (3) supramax bulk carriers and one container ship. Raffles Ship Chartering Pte Ltd is an established entity in the shipping industry, specializing in the chartering and management of bulk carriers. With a strategic focus on the Asia-Pacific region, the company operates a fleet that includes a variety of ship types, primarily serving the commodity trading operations of its parent company, Wilmar International. Raffles Ship Chartering is known for its expertise in logistical solutions, providing cost-effective and efficient shipping services. The company’s business model is built on long-term relationships with clients and a robust network within the maritime logistics sector. This recent transaction with Shanghai Newseas Navigation underscores Raffles Ship Chartering’s active role in the trading and operational management of shipping assets, continually adjusting its fleet composition in response to market conditions and strategic objectives. 25-October-2017
Singapore-based ship operator Raffles Ship Chartering Pte Ltd, a subsidiary of commodity trader Wilmar International, has entered into shipbuilding agreements with HNA-affiliated Jinhai Heavy Industry Shipyard for the construction of six (6) 19K DWT chemical tankers. This order marks Jinhai Heavy Industry Shipyard’s inaugural venture into chemical tanker construction. The chemical tankers from Raffles Ship Chartering Pte Ltd will be certified by Bureau Veritas (BV) and deliveries are scheduled to commence from Q3 2018. Raffles Ship Chartering Pte Ltd, together with Raffles Shipping Corporation Pte. Ltd, operates as a shipping division under commodity trader Wilmar International. Wilmar International, through its subsidiaries, manages a fleet of 56 vessels, including 38 chemical tankers. Raffles Ship Chartering Pte Ltd specializes in the operation and management of tanker fleets, primarily serving the needs of the chemical and oil industries. The company is known for its strategic asset management, ensuring operational efficiency and adherence to the highest safety and environmental standards. It plays a pivotal role in Wilmar International’s supply chain, providing maritime logistics solutions that facilitate the global trade of commodities. Raffles Ship Chartering’s expertise in maritime operations extends to a comprehensive service offering that includes vessel chartering, technical management, and crew management. With a focus on expanding its services and fleet, the company continues to invest in new vessels like the 19K DWT chemical tankers to strengthen its market position and meet the growing demands of international shipping. 15-January-2017
Singapore based Raffles Shipping, a subsidiary of Wilmar International, bought 2010 built supramax bulk carrier 56K DWT MV Kilian S for $7 million. Market veterans believe that there is still a strong discount on Chinese built bulk carriers comparing to Japanese built. 12-August-2016
Singapore-based Wilmar International, commodity trader, sister company Raffles Shipping bought 2012 built supramax bulk carrier MV Anne Kjersti built for $6.3 million. Previously supramax bulk carrier MV Anne Kjersti was owned by Norway’s Jebsen family. 22-April-2016