DryShips Inc. a global provider of marine transportation services for drybulk cargoes entered into the following agreements: Vessel Disposals The Company has entered into agreements to sell: - The Panamax vessel MV Primera 72,495 dwt built in 1998 for US$ 75 million. Delivery to the new owners is expected to take place during the fourth quarter of 2008. Once the sale is concluded, the company expects to realize a gain of approximately US$ 40 million. - The Panamax vessel MV Paragon 71,259 dwt built in 1995 for US$ 61 million. Delivery to the new owners is expected to take place during the first quarter of 2009. Once the sale is concluded, the company expects to realize a gain of approximately US$ 31 million. - The Panamax vessel MV Menorca 71,662 dwt built in 1997 for US$ 77 million. Delivery to the new owners took place in June, 2008. The company realized a gain of approximately US$ 37 million. Vessel Acquisitions and Time Charters In line with its strategy of selling older vessels and replacing them with modern vessels, the company has entered into agreements to acquire the following vessels from companies beneficially owned by George Economou, Chairman and CEO of DryShips Inc., on terms that the Company believes are comparable to those that may be obtained
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that the company, through a separate wholly-owned subsidiary, took delivery of the m/v Baltimore (formerly Tamou), a 2005 built Capesize dry bulk carrier of 177,243 dwt that the Company entered into an agreement to purchase in April 2013. The m/v Baltimore is time chartered to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of $15,000 per day
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered into a time charter contract with Clearlake Shipping Pte., Ltd., Singapore, a member of the Gunvor Group, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the MV Boston. The gross charter rate is $14,250 per day, minus a 4.75% commission paid to third parties, for a period of about 24-29 months
Diana Shipping Inc. signs MOU to buy a new-building bulk ship from a third party; subsidiaries negotiate term loan facilities. The new-building Kamsarmax dry bulk carrier, to be named Myrto of 82,131 dwt, was built by Tsuneishi Shipbuilding Co., Ltd., Japan, and the purchase price is US$26.5-million. The vessel is expected to be delivered to Diana Shipping at the end of January 2013. Separately, the Company also announced that it signed, through two separate wholly owned subsidiaries
The Panama Canal Authority (ACP) said that five “extreme-sized” panamax ships (more than 900´ in overall length) transited successively through the waterway’s Gatun Locks on August 26, 2004. This accomplishment marks the first time that five of these panamax vessels have transited Gatun Locks consecutively going southbound, toward the Pacific Ocean. Eight locomotives and 16 wires were used to move the vessels through the Locks
Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk vessels, announced that a subsidiary of the company has entered into a new time charter agreement for the M/V Tiara Globe with Transgrain Shipping at a gross rate of $20,000 per day, for a minimum of 24 to a maximum of 26 months starting sometime in February 2010. The M/V Tiara Globe is a geared Panamax bulkcarrier built in 1998 with a carrying capacity of 72
Asian Panamax rates for dry bulk cargo are likely to ease further this week on soft demand for mineral and grain shipment, with many spot vessels available for hire in the market. "There have been few fresh spot inquiries by charterers," said a shipping broker. "In addition to this, the Panamax market has been under pressure from an oversupply of spot ships." Panamax rates for freights from the U.S. Gulf to Japan were indicated at $21.50-$22.00 a ton for March shipment, against $23
The Panama Canal Authority (ACP) released second quarter (Q2) operational metrics today for fiscal year 2007. In Q2, there was an increase in net tonnage, total transits and booking slot utilization. There was also an increase in official accidents. Canal Waters Time (CWT), the average time it takes a vessel to transit the Canal including waiting time for passage, decreased. These metrics are based on operations from January through March of 2007
CMA CGM has signed a Memorandum of Understanding for the expansion in Kingston of its future central hub in the Caribbean The CMA CGM Group is pleased to announce the signing of a Memorandum of Understanding (MOU) for the operation, equipment and expansion of the Gordon Cay Container Terminal in the Jamaican port of Kingston, for a minimum period of 35 years. The project to develop the terminal will be based on the existing facilities.
The Evergreen Group has placed orders with Mitsubishi Heavy Industries Ltd in Japan for ten post-Panamax vessels, each with a capacity of 6,724TEU. The first vessel is due for delivery in September 2005 and subsequent vessels will be delivered at the rate of approximately four per year. To be known as S-class vessels, the new ships will be built under the GREENSHIP design concept proposed by Evergreen Group Chairman Dr Chang
Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp
Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from
Mercator Lines (Singapore) reported a revenue of US$ 16.5 million for Q1 2015, an increase of 19% as compared to correspoding period in the previous previous year, however a net loss of US$ 7.1 million for the quarter as against a loss of USD 6
Savannah port deepening gets green light. With the president’s signing today of the Water Resources Reform and Development Act of 2014, the Savannah Harbor Expansion Project (SHEP) is authorized to begin construction. “With today’s action
Terminal Pacífico Sur Valparaíso in Chile recently purchased three Ship-to-Shore container cranes (STS) from Irish based Liebherr Container Cranes Ltd. These cranes have an outreach of 62 m and a safe working load of 65 t under twin lift spreader
The Panama Canal Authority (ACP) will charter a Post-Panamax vessel before the opening of the expanded Canal to be used for training purposes in the Third Set of Locks. The Executive Vice President of Operations Esteban Saenz reported that the Panama Canal will charter a Post-Panamax ship to
The Panama Canal Authority (ACP) will charter a Post-Panamax vessel before the opening of the expanded Canal to be used for training purposes in the Third Set of Locks. The Executive Vice President of Operations Esteban Saenz reported that the Panama Canal will charter a Post-Panamax
The Panama Canal Authority (ACP) informs it will charter a Post-Panamax vessel before the opening of the expanded Canal to be used for training pilots and tugboat captains in the Third Set of Locks. The Executive Vice President of Operations Esteban Saenz said the vessel will be used several
The U.S. Senate’s passage of the federal Water Resources Reform and Development Act of 2014 (WRRDA) has cleared the way for construction to begin on the Savannah Harbor Expansion Project. The House passed identical legislation on Tuesday.
In another landmark event,the biggest ever vessel to call at the DP World operated Saigon Premier Container Terminal (SPCT) in Ho Chi Minh City, Vietnam, arrived this week. The NYK owned Northern Genius, with a nominal TEU (twenty foot equivalent container unit) capacity of 4
Payment problems are disrupting commercial food cargoes to Iran, with hundreds of thousands of tonnes of grain and sugar stuck in transit, as Western banking sanctions complicate deals and trade financiers scale back exposure. Iran is not barred from buying food or other
The continuous cascading of surplus Panamax vessels into North-South trades is still contributing to over-capacity, and the problem is likely to get worse when the Panama Canal’s widened locks are opened at the end of 2015, according to the latest edition of Drewry Container Insight.
Peel Ports Group has signed a multi-million pound deal with Shanghai-based Zhenhua Heavy Industries Co. (ZPMC) for 17 ‘mega cranes’ for its new £300m Liverpool2 container port. ZPMC will initially supply five ship-to-shore (STS) megamax quay cranes and 12 cantilever
Two Brazilian soybean cargoes sold by Japan's Marubeni Corp that were initially sold to China have been switched to the United States, according to port and shipping data updated on Tuesday, the latest of several U.S. import shipments expected this season.
NewLead Holdings Ltd announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million. The two vessels are expected to be delivered to NewLead's fleet within the next three