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Bulk Carrier Trends

Fleet Of Babycapes Is Growing: Oldendorff

 Photo: Oldendorff

 Oldendorff Carriers has recently increased the number of owned bulk carriers in it Babycape segment by acquiring four more eco 119,000 tonners from compatriot shipowner Hartmann Reederei.   The vessels are: MV UBC Ottawa   (tbrn: Roland Oldendorff), MV UBC Odessa  (tbrn: Rex Oldendorff), MV UBC Olimbus 

Eagle Bulk Completes $265 Mln Refinancing

Pic: Eagle Bulk Shipping Inc.

Eagle Bulk Shipping, through its wholly-owned subsidiaries Eagle Bulk Shipco and Eagle Shipping LLC, has entered into a series of refinancing transactions, including the repayment in full of Eagle Shipping’s outstanding first and second lien credit facilities, each dated as of March 30, 2016.  As a result of these transactions,

Starting Development of Next-generation Coal Carrier

Location of LNG Fuel Tank and Scene of the certification reception. Photo: MOL

Mitsui O.S.K. Lines announced that MOL, Tohoku Electric Power Co and Namura Shipbuilding have jointly earned an Approval in Principle (AIP) from Lloyd's Register for the design of an liquefied natural gas (LNG) powered coal carrier. The three companies have moved ahead with this project and recently

Great Lakes Iron Ore Trade Up in November

© Daniel / Adobe Stock

Frequent weather delays hampered the iron ore trade on the Great Lakes in November, according to the Lake Carriers’ Association (LCA), who said shipments totaled 5.7 million tons, an increase of just 60,000 tons compared to a year ago. Loadings did fare better when compared to the month’s five-year average, increasing by 260,000 tons, or 4.

Scorpio Bulkers Opts New Loan Facility to Acquire Ultramax

Image: Scorpio Bulkers Inc.

 Scorpio Bulkers announced that the Company has received a commitment from a leading European financial institution for a loan facility of up to $38.7 million.    The loan facility will be used to finance up to 60% of the market value of the three Ultramax dry bulk vessels the Company has recently agreed to acquire.

MOL Signs Bauxite Transport Deal with Alufer Mining

Left: Alufer CEO Bernard Pryor Right: MOL Managing Executive Officer and Director General of Dry Bulk Business Unit Toshiaki Tanaka. Photo: MOL

 Mitsui O.S.K .Lines (MOL) announced that it held a signing ceremony for a five year bauxite transport contract with Alufer Mining .The contract was signed by Toshiaki Tanaka, MOL's Head of Dry Cargo, and Bernard Pryor at MOL's offices in Tokyo.   Republic of Guinea based independent mineral exploration

Ohio River Towboat Captain Navigates a Changing America

A coal barge underway on U.S. inland waterways (CREDIT: AEP)

In the 29 years that towboat captain Joe Gray has worked flotillas of barges up and down the Ohio River, he has witnessed the decline at the heart of industrial America in what is known as the country's Rust Belt.   Gray, 46, spends up to eight months a year doing 28-day stints on the barges carrying coal,

Salvors Seek to Recover Tin Cargo

Innocap has entered into an agreement with a company in Singapore to assist in the recovery of a large shipment of tin from a sunken ship that is believed to be in the waters between Indonesia and Malaysia, announced Innocap president, Paul Tidwell.   Innocap said it will receive 40 percent of the

NORDEN Opens Vancouver Office

A NORDEN vessel in Vancouver (File photo: NORDEN)

NORDEN has opened a new office in Vancouver, Canada, as the Danish ship owner seeks to expand its global reach and local presence on the North American West Coast.   “The new and increased presence on the West Coast will strengthen NORDEN’s ability to provide customers with transport to and from the

Rasmussengruppen Sells Stake in Norden

Photo: Norden A/S

 Oslo based financial investor Rasmussengruppen sold its entire stake which is 4.8 million shares of Danish dry bulk bulker owner Norden.    A press statement said: "In accordance with section 29 of the Danish Securities Trading Act, it is hereby informed that Dampskibsselskabet Norden A/S has received

Diana Containerships TC with Wan Hai Lines

M/V Hamburg. Photo: Diana Containerships Inc.

 Diana Containerships announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Wan Hai Lines (Singapore) for one of its Post-Panamax container vessels, the m/v Hamburg.    The global shipping company specializing in the ownership of containerships

PanOcean Signs USD 1.8bln Deal with Brazil's Vale, Orders Six VLOCs

Photo: Pan Ocean

 South Korean shipper Pan Ocean has won a 1.98 trillion won ($1.82 billion) contract to transport iron ore over a period of 27 years for Brazilian mining giant Vale, Reuters reported.   The South Korea company said in a regulatory filing that it is set to carry iron ore from Brazil to China from January 2020 to August 2047.

Capesize Rates to Climb in a 'Market on Fire'

(Photo: Star Bulk)

Freight rates for large dry cargo ships on key Asian routes, which hit three-year highs this week, are likely to rise further on a shortage of ships available for immediate charter, brokers said.   Rates for 180,000 deadweight tonne (DWT) capesize ships are set to break $10 a tonne from Australia to China in the next few days,

Thoresen Sells Bulk Carrier

Photo: Thoresen Thai Agencies Plc.

 Thoresen Thai Agencies sells M.V. Thor Horizon, a general cargo vessel with a rated capacity of 47 111 DWT and built in 2002 for  just over US$5.38 million.   "The Vessel was sold to a company which is not a connected person of the Company by Thoresen Shipping Singapore Pte. Ltd., a wholly owned subsidiary of the Company," said a press release.

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