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2017-05-03 10:35:20

Greek shipowner DryShips Inc has taken delivery of its first previously announced 205,855dwt Newcastlemax drybulk vessel built in 2014.

The company said that the ship was delivered to its one year time charter with "a major grain house", the identity of which was not revealed.

The charter is expected to provide a total gross backlog of USD 7.1 million, according to DryShips.

"With three sister vessels to follow, two of which are also employed under time charter contracts, we expect our earnings and cash flows will built up during the second half of 2017," said George Economou, Chairman and Chief Executive Officer.

The ships were bought in March at "historically low prices", as described by Economou, for a total of US$124m. The quartet features 206,000dwt and an average age of 3 years.

As informed at the time, two of the Newcastlemax bulkers are planned to be employed under time charter contracts, while the other two are set to trade in the spot market.

As stipulated in the deal, the rest of the fleet is slated for delivery before the end of June 2017.

DryShips has been very active on the second-hand market, availing of the attractive ship prices, including the recent purchases of four Kamsarmax bulkers last month.

2017-05-02 11:27:29

Nasdaq-listed ship owner DryShips said it has inked a deal to buy one 82,129dwtKamsarmax drybulk carrier built in 2014, according to the company.

The ship will be financed with approximately USD 24 million using cash on hand. DryShips expects to take delivery of the vessel during the second quarter of 2017.

Earlier this week, the ship owner disclosed that having recently repaid its loan facility of US$15.2m, the company's cash and cash equivalents total in about US$384m.

Hence, DryShips CEO, George Economou, said the company was pursuing bank debt financing for the first time since November 2014 so as to further grow its fleet.

Separately, the company informed that it has taken delivery a 113,644dwt newbuilding Aframax tanker.

"We are very excited to have started taking delivery of our previously announced acquisitions and also continue to grow our fleet with a new acquisition of one more modern vessel. The DryShips new era has official started and is expected to be accretive to our earnings and cash flow," Economou added.

2017-05-02 11:24:21

Drilling contractor Diamond Offshore has obtained new contracts for two semi-submersible drilling rigs.

The company has executed new contracts for the Ocean Monarch in Australia, the first of which is set to commence in late first quarter of 2018. The contracts add nine months of backlog and will keep the Ocean Monarch contracted through 2018.

2017-04-28 13:16:21

Dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of the first two dry bulkers from the batch ordered in March this year.

The vessels in question are 2013-built Q Sue and 2014-built Q Kaki, which will now be renamed Golden Sue and Golden Kaki.

The batch is comprised of 16 dry bulk vessels which were agreed to be acquired in the form of an all-share transaction where the company would issue in aggregate 17.8 million consideration shares and assume debt of USD 285.2 million.

Of the 16 vessels to be acquired, 14 will be acquired from subsidiaries of Quintana Shipping, and two ice class Panamax vessels will be acquired from subsidiaries of Seatankers, an affiliate of Hemen Holding, the company's largest shareholder.

To that end, Golden Ocean said that it has issued 1.6 million consideration shares to Quintana Shipping and associated companies in exchange for the two vessels.

Following this transaction, the company's issued share capital is US$5,843,649.6 divided into 116,872,992 issued shares, each with a nominal value of US$0.05.

The acquired vessels' average age is four years in line with GOGL's rest of the fleet. The acquisition comes at a time of very favorable prices of second-hand vessels enticing many owners to venture into fleet expansion.

2017-04-28 13:10:46

US-based ship operator Eagle Bulk Shipping has taken delivery of the first of nine Crown-63 Ultramax dry bulk sister vessels, which were purchased from Greenship Bulk Trust in March 2017.

The 63,500dwt MV Mystic Eagle, previously named JS Tamise, joined the company's fleet consisting of 41 vessels on the water, including 3 Ultramax ships.

The bulk carrier was constructed in 2013 by China's shipbuilder Dayang Shipbuilding.

Following the delivery of the remaining eight Ultramaxes, which are scheduled to join Eagle Bulk Shipping's fleet over the coming months, the company's pro-forma owned-fleet will consist of 49 Supramaxes and Ultramaxes.

Under the agreement between the parties, which was first unveiled in late February 2017, the US owner initially agreed to acquire six Crown-63 Ultramaxes. The company later received an approval to acquire another three dry bulk sister vessels.

"We are pleased to have been able to secure this fleet acquisition of 9 quality Ultramax vessels, and look forward to having them join Eagle's fleet over the coming months," said Gary Vogel, Eagle Bulk's CEO.

Eagle Bulk acquired the nine ships, which would be renamed after Connecticut coastal towns, for a total of US$153m.

2017-04-28 13:03:52

Norwegian Cruise Line took delivery of Norwegian Joy, the brand's fifteenth ship and the first custom-designed for the Chinese cruise market, from German shipbuilder Meyer Werft during an on board ceremony in Bremerhaven, Germany.

At 167,725–gross-tons and accommodating 3,883 guests, Norwegian Joy is the second ship in the line's Breakaway-Plus class.

"As Norwegian Cruise Line continues our global growth, Norwegian Joy's delivery marks a momentous occasion in our company's history, signifying our official entry into the Chinese cruise market," said Andy Stuart, President and Chief Executive Officer for Norwegian Cruise Line.

In advance of the delivery, David Herrera, president of Norwegian Cruise Line Holdings Chin and executives from Norwegian's offices in China gathered for a traditional blessing from the Chinese Goddess of the Sea, Mazu, to ask for safe and pleasant voyages for the ship and all its guests. The ceremony was held at the Mazu Temple in Shanghai where, one year ago, the Norwegian team held a ceremony to obtain a blessing for the coins that were used in Norwegian Joy's Keel laying ceremony.

"With Norwegian Joy, we have completed a highly sophisticated ship with a lot of technologically challenging features. Thanks to a dedicated team consisting of Norwegian Cruise Line, yard, classification society and suppliers, we have accomplished our goal of delivering a great ship on time, while meeting high quality expectations," said Tim Meyer, CEO of Meyer Werft.

Following the delivery, Norwegian Joy will begin its journey to China, where it will be showcased through an inaugural port tour featuring one-day events at the ports of Singapore, Qingdao, Shenzhen, and Hong Kong. The ship will be christened on June 27 by the 'King of Chinese Pop', Wang Leehom.


2017-04-28 11:24:38

Japanese ferry operator MOL Ferry, part of Mitsui O.S.K. Lines (MOL), has taken delivery of newbuilding Sunflower Furano from compatriot shipbuilder Japan Marine United (JMU).

Following final checks, the new ferry is expected to start its first voyage on May 13, sailing from the Port of Oarai to the Port of Tomakomai, MOL said.

The 13,816 gross ton Sunflower Furano will replace an older ship having the same name which is currently in service.

The ferry, featuring a length of 199.7 meters and a width of 27.2 meters, is the first of two eco ships ordered from JMU by MOL in 2014.

The two ships will connect the country's islands of Honshu and Hokkaido via the Oarai-Tomakomai route.

Both vessels will be able to accommodate 590 passengers, 160 large trucks and 100 cars.

The second ferry is scheduled to enter service in August 2017, the company's data shows.

2017-04-27 13:03:30

Board of directors of the Greek owner of dry bulk vessels Diana Shipping has approved the acquisition of three vessels, according to the company.

The approval follows closing of the company's previously announced underwritten public offering of a total of 20,125,000 common shares, par value USD 0.01 per share, at a price of US$4 per share.

The offer includes the full exercise of the over-allotment option granted to the underwriters to purchase up to 2,625,000 additional common shares. Following this offering, the company has 106.1 million common shares outstanding, par value US$0.01 per share.

As part of the offering, entities affiliated with Simeon Palios, the company's Chief Executive Officer and Chairman, executive officers and certain directors, purchased an aggregate of 5,500,000 common shares at the public offering price.

The gross proceeds from the offering were USD 80.5 million, all of which is expected to be used to fund the acquisition costs of additional dry bulk vessels, including two 2013-built Post-Panamax dry bulk vessels and one 2013-built Kamsarmax bulker.

Any net proceeds from the offering not used for the vessel acquisitions will be used for general corporate purposes, the company added.

As of April 26, 2017 the company's fleet consists of 48 dry bulk vessels, featuring a combined carrying capacity of approximately 5.7 million dwt with a weighted average age of 7.9 years.

2017-04-27 11:41:34

Latvian Shipping Company's (LSC) subsidiary LSC Shipmanagement added to its fleet Elandra Eagle, a 157,000dwt oil tanker newbuilding, on April 19.

LSC Shipmanagement will provide the technical management for the Suezmax vessel owned by Singapore's Elandra.

"LSCSM adds the next ship to the fleet under its technical management to raise its maximum petroleum transportation capacity," said Robert Kirkups, Chairman of the Management Board of LSC.

"The addition to the fleet is an important event, fulfilling the strategy of increasing vessels under technical management," Kirkups further said.

Built by South Korean shipbuilder Sungdong, Elandra Eagle will fly the Marshall Islands flag.

With a gross tonnage of 81,300 tons, the tanker features a length of 277 meters and a width of 48 meters.

According to the company, Elandra Eagle is the biggest tanker in LSC's fleet.

This June, LSC Shipmanagement plans to take delivery of another Elandra tanker, Elandra Falcon.

2017-04-27 11:39:02

South Korean shipbuilder Hyundai Heavy Industries (HHI) has won 18 ship orders worth USD 900 million in April alone, pushing its order intake to USD 2.3 billion secured so far this year.

Since the orders include options exercisable by owners to order additional vessels, the total orders in April "will amount to 31 ships worth USD 1.5 billion," HHI informed.

The month marked the largest ship orders for the comparable period in three years, the shipbuilder said, adding that from the beginning of 2017 it secured a total of 39 new ship orders.

"With our new orders improving this year, we are receiving shipbuilding inquires doubled over the last year's comparable period. With our competitive edge on green shipbuilding technology and fiscal health, we will continue to exert efforts to win more orders," according to an official from HHI.

As the company is currently in the final negotiating stage for additional three ships, as well as two more vessels at Hyundai Mipo Dockyard (HMD) and an array of other shipbuilding inquiries, HHI said that it expects more orders to come in May and afterwards.

During the period ended March 31, 2017, the value of HHI's newbuilding orders surged by 22.9 percent compared to the corresponding figures from last year, reaching US$2.04bn.

While the group's shipbuilding segment booked US$763m worth of orders, against last year's 234 million, its offshore and engineering arm saw a drop in ordering activity with US$51m worth of orders.

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