Norwegian shipowner and operator Spar Shipping AS has expanded its fleet with the addition of a newly constructed ultramax bulk carrier. Bergen-based shipowner and operator Spar Shipping AS secured a resale transaction valued just over $38 million for the 2024-built ultramax bulk carrier, MV Century Zhengzhou, with a deadweight of 63K DWT, constructed at Nantong Xiangyu Shipyard. MV Century Zhengzhou is the sister ship to Spar Shipping’s recently delivered MV Spar Mira, which was originally ordered by China’s Ebridge Capital in August 2021 at an undisclosed price and handed over in June 2024. Currently, Spar Shipping, a prominent Norwegian shipowner and operator, manages a fleet of 26 bulk carriers, including nine ultramax and seventeen supramax bulk carriers. Additionally, it was widely reported in July 2024 that Spar Shipping, also based in Bergen, had sold its 2005-built supramax, MV Spar Lyra, to a Chinese shipowner for approximately $10.5 million. 3-September-2024
Norwegian shipowner and operator Spar Shipping reported a pre-tax profit of $38 million in 2020. Spar Shipping reported revenue of $108 million in 2020. At the beginning of 2020, Spar Shipping had a stressful start due to the post-coronavirus recession. However, the dry bulk shipping market steadily increased, which has led Spar Shipping to report higher profits. Spar Shipping chairman Dag Magne Vedvik expressed careful optimism, emphasizing that there are uncertainties over the dry bulk shipping market going forward. Norwegian shipowner and operator Spar Shipping is owned by brothers Tom and Iwan Eide Knudsen through their company West Coast Invest. Spar Shipping was a tonnage provider however the company has established its chartering department. Currently, Spar Shipping has a fleet of 24 bulk carriers. 14-June-2021
Norwegian shipowner and operator Spar Shipping has reported a pre-tax profit of $6.5 million for 2019. Spar Shipping’s profits squeeze due to trade wars and coronavirus recession. Spar Shipping has reported revenue of $79 million for 2019. Bergen-based shipowner and operator Spar Shipping is controlled by Tom Eide Knudsen and Iwan Knudsen. Initially, Spar Shipping was established to be a pure tonnage provider to FCC (First Class Charterers). Nevertheless, recently Spar Shipping has established an in-house chartering department. Spar Shipping has refinanced revolving credits and the company has a positive outlook. Currently, Spar Shipping has a fleet of 24 supramax and ultramax bulk carriers. 7-June-2020
Ulrich Müller, 64, formerly at the helm of Belships, has been promptly named the new CEO of Westfal-Larsen following the resignation of Anders Nome Lepsøe last week. A prominent figure in Norwegian maritime industries, Müller brings with him a wealth of experience, including a significant tenure at Spar Shipping AS, where he contributed to the company’s growth and operational efficiency. He has accumulated 42 years of experience in shipping, with notable positions at Grieg Group and Viken Marine as well. Ulrich Müller is slated to begin his new role in Bergen within the forthcoming two weeks. His tenure at Spar Shipping AS was marked by strategic fleet management and innovations that enhanced the company’s service offerings in the dry bulk sector, qualities that he is expected to bring to his new position at Westfal-Larsen. Additionally, Westfal-Larsen has recently moved its open hatch bulk carrier subsidiary, Masterbulk, back to Norway after a 25-year stint in Singapore. This strategic relocation aligns with the company’s broader objectives to streamline operations and leverage Norway’s robust maritime infrastructure. 3-June-2020
Norwegian shipowner and operator Spar Shipping reported an operating profit of $27 million for 2018. Spar Shipping doubled the annual profit in 2018. However, Spar Shipping is not very optimistic about 2019. Currently, Spar Shipping is seeking a spot-oriented charter plan due to predominating weak dry bulk markets. According to Norwegian shipowner and operator Spar Shipping, the lack of significant iron-ore cargo out of Brazil has deeply affected the dry bulk markets at the beginning of 2019. Currently, Spar Shipping’s bulk carriers are either on the spot market or longer charters with index-linked rates. Traditionally, Spar Shipping has chartered out its bulk carriers on a long-term basis, but current margins have made this an unattractive solution. Therefore, Spar Shipping has been planning to establish an in-house chartering department for the spot market. Furthermore, Norwegian shipowner and operator Spar Shipping pursue a petition against Grand China Logistics Holding over canceled charters for three (3) supramax bulk carriers. Grand China Logistics Holding has lost in the United Kingdom court, however, the conflict has now moved to a Chinese court. Bergen-based shipowner and operator Spar Shipping is owned by the family of the late Helge Eide Knudsen, who died in July 2015. Today, Helge Eide Knudsen’s sons Tom Knudsen and Iwan Eide Knudsen are controlling the Spar Shipping. Currently, Spar Shipping owns and operates 24 bulk carriers. 18-July-2019
Norwegian shipowner Spar Shipping hit hard by the collapse of the dry bulk market. Norwegian shipowner Spar Shipping after agreeing a refinancing deal with its banks awaits newbuilding dry bulk carriers. Norwegian shipowner Spar Shipping has 6 supramax new buildings in China. Dag Magne Vedvik led Norwegian shipowner Spar Shipping slumped to a pre-tax loss of $117 million in 2015. 25-August-2016
Norwegian shipowner Spar Shipping sold panamax bulk carrier M/V Spar Neptun 70K DWT for demolition to Indian Scrapyard for $290 per ldt (Lightweight Displacement Tonnage) which is around $2.7 million. M/V Spar Neptun was operated Klaveness ship management’s Baumarine pool. MV Spartan Neptune ex MV Apollon and MV Alianthos were bought in 2004 by Spar Shipping for $65 million. 28-April-2016
Germany’s RWE group has secured a charter agreement for six ultramax bulk carriers from Norwegian shipowner and operator Spar Shipping AS. These vessels are set on five-year time charters with undisclosed floating rates, while Bergen-based Spar Shipping AS retains the flexibility to fix a rate at any time throughout the charter period. The bulk carriers in this deal include the MV Spar Aries and MV Spar Pyxis, each with a deadweight of 64K DWT, and the MV Spar Apus with a deadweight of 63K DWT, all built in 2015. Additionally, the charter includes three unnamed newbuildings still under construction at Jiangsu Hantong shipyard in China, with expected delivery by the fourth quarter of 2015. Spar Shipping AS, headquartered in Bergen, Norway, has a longstanding reputation in the maritime industry for its robust fleet management and operational efficiency. The company specializes in the ownership and operation of dry bulk carriers, ranging from supramax to ultramax vessels. Spar Shipping AS is known for its strategic fleet expansions and modernizations, consistently investing in vessels that offer both environmental benefits and operational efficiency. Spar Shipping AS’s fleet, noted for its young age profile and technical reliability, enables Spar Shipping AS to meet diverse client needs in the global shipping market, adhering to the highest safety and environmental standards. This recent charter agreement with RWE group not only underscores Spar Shipping AS’s capacity for significant maritime operations but also its role as a key player in the European shipping sector. 13-August-2015
Chinese shipbuilder Jiangsu Hantong has successfully obtained contracts for four 64K DWT ultramax bulk carriers from Norwegian shipowner and operator Spar Shipping AS. Based in Bergen, Spar Shipping AS’s agreement encompasses the execution of two options along with two new contracts, scheduled for delivery from mid-2015 to mid-2016. This follows the original contract signed in 2013 for 2+2 64K DWT ultramax bulk carriers, with the first two vessels expected to be delivered in the first quarter of 2015. Spar Shipping AS, a key player in the maritime industry, has a longstanding reputation for its expertise in managing and operating a diverse fleet of bulk carriers. Norwegian shipowner and operator Spar Shipping AS’s strategic investments in ultramax vessels underscore its commitment to enhancing operational efficiency and reducing environmental impact, aligning with global shipping standards. With a focus on maintaining a modern and versatile fleet, Spar Shipping AS leverages advanced technology and industry insights to ensure competitive service offerings in the global shipping market. This recent expansion of their fleet with Jiangsu Hantong further demonstrates Spar Shipping AS’s proactive approach in maintaining a leading position in the maritime sector. 25-February-2014
Jiangsu Hantong Ship Heavy Industry has secured an order from Bergen-based shipowner and operator Spar Shipping AS for two ultramax bulk carriers, with an additional two on option, each valued at approximately $25 million. Spar Shipping AS, a prominent Norwegian shipowner, is expected to take delivery of these ultramax bulk carriers in the first quarter of 2015. Spar Shipping AS is renowned for its strategic approach to fleet management, focusing on acquiring modern and efficient vessels to enhance its competitive edge in the global shipping market. The company’s investment in new ultramax bulk carriers from Jiangsu Hantong Ship Heavy Industry reflects its commitment to expanding its fleet with high-performance ships that adhere to the latest environmental standards. Over the past three months, Jiangsu Hantong Ship Heavy Industry has experienced a surge in orders, totaling up to 22 bulk carriers, including significant orders from industry leaders such as Nisshin Shipping, Peter Dohle, and Conti Reederei. This influx of orders highlights Jiangsu Hantong’s reputation and reliability in the shipbuilding sector, bolstered by its association with established operators like Spar Shipping AS, which continues to prioritize growth and sustainability in its operational strategies. 3-July-2013