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2016-11-22 11:48:38

According to brokers, China Navigation is the buyer of a trio of 38,800dwt handysize newbuildings. The ships were originally ordered by German bulker outfit Bertling. The ships have now been sold by the yard, Huanghai Shipbuilding.

They are named Cumbria, Galicia and Venezia and are of the Green Dolphin design with China Navigation thought to have picked them up for around US$15.4m each.

2016-11-21 14:33:57

Nisshin Shipping's rapid fleet pullback continues apace. Having put a trio of kamsarmaxes in the shop window a few weeks back, the Japanese owner has now concluded a deal with Greece's Transmed to sell all three en bloc.

Brokers report that the three sister ships – Mangan Trader I, Mangan Trader II and Mangan Trader III – were sold for US$16.75m each. The ships – all built at Hyundai Samho in 2013 with an LOA of 235m – are the latest in Nisshin's dramatic scaling back of its dry bulk fleet. Nisshin ranks in the top five sellers of dry bulk tonnage so far this year.

2016-11-18 11:16:06

Monaco-based bulk giant CTM has emerged as the buyer of the MOL-controlled two-year-old Sampaguita Dream capesize.

The Tsuneishi Cebu-built 180,000dwt vessel has already changed name to True Dream. Japan's MOL has now sold three modern capesizes in quick succession.

CTM manages a fleet of around 80 bulkers. The company is also involved in a new venture, Capesize Chartering (CCL), which it formed at the beginning of the year with Bocimar, Golden Ocean and Star Bulk.

2016-11-08 11:41:47

Nasdaq-listed bulker owner and operator Eagle Bulk Shipping Inc. has bought a 61,000dwt Ultramax dry bulk vessel built at Nantong COSCO Kawasaki Heavy Industries Engineering Co., Ltd. (NACKS).

The 2016-built bulker, scheduled to be delivered to the company in November, will be renamed Stamford Eagle.

Eagle Bulk said that this is the first vessel acquisition for the company in more than 6 years and "reflects management's renewed commitment to invest in a high-quality fleet renewal and growth strategy within the Supramax/Ultramax segment."

Featuring a length of 200 meters and a width of 32.2 meters, the 34,447 gross ton ship has a capacity of 77,546 cubic meters.

The vessel, which has a market value of US$19.7m, was previously named Port Belavista, according to data provided by VesselsValue.

2016-11-07 11:43:27

Mumbai-listed bulker specialist Chowgule Steamship has fetched around US$16m for its youngest ship, a 34,900dwt bulker, named Maratha Premier

The seller, Chowgule Steamship, has recently explored sales and purchases opportunities for its coastal and river trade business domestically.

Chowgule Steamship was established in 1963 and is a pure bulk player.

Chowgule Steamship is listed with five ships including the Maratha Premier in the Equasis fleet register and is a part of the much bigger conglomerate Chowgule Group of companies from Goa, India.

2016-11-07 11:40:42

Low key Balthellas Chartering has made a move into the secondhand market.

Sources say that the Greek venture has picked up last week's most popular kamsarmax. They reveal that the owner and manager turned out to be the highest bidder for a ship which more that 10 owners sent their representatives to China to inspect.

The company is spending US$10.7m for the nine-year-old Japanese built kamsarmax Barock built at Tsuneishi Shipbuilding, a firm price for the vessel, compared to the recent sale of another similar sized Tsuneishi-built ship, the one-year older Abyo Oprah, which fetched US$9.5m. Barock was owned by Kambara Kisen, the sister firm of Tsuneishi.

Balthellas is listed with a couple of elderly general cargo vessels in its fleet according to the Equasis fleet register.

2016-11-02 13:46:48

Japan-based Nisshin Shipping has entered into an agreement to sell its 2012-built Capesize bulk carrier to Greek shipping firm Capital Maritime and Trading, according to data provided by VesselsValue.

The 180,000dwt Gran Trader, which features a length of 292 meters and a width of 45 meters, was purchased for a price of US$22.5m.

Built by South Korean Sungdong Shipbuilding and Marine Engineering, the bulker has a market value of US$23.6m.

The vessel, which is Capital Maritime and Trading' latest addition, will join the company's fleet of 16 vessels, two of which are bulk carriers.

In September 2016, the company bought another Capesize for a price of US$20.5m. Purchased from German-based ER Shiffahrt, the 2010-built ER Boston was constructed at South Korean Hyundai Heavy Industries.

2016-11-01 16:34:16

Greek owner of drybulk carriers DryShips Inc. has sold five of its Panamax vessels for an aggregate price of US$29.4m.

Namely, two Panamax vessels Amalfi and Samatan, along with their associated bank debt, were sold to entities controlled by the company's Chairman and CEO George Economou.

As part of the transaction, the company inked an agreement to increase its secured revolving facility provided by an entity controlled by George Economou.

The revolver was amended to increase the maximum available amount by US$5m to US$75m and to give DryShips an option to convert US$7.5m of the outstanding balance to shares of its common stock within 365 days. Following this transaction, the outstanding balance under the revolver will stand at US$69.4m.

The company said that the transaction was approved by the independent members of its Board of Directors on the basis of vessel valuations and a fairness opinion.

The remaining three Panamax vessels from the batch, Ocean Crystal, Sonoma and Sorrento, were sold to un-affiliated buyers.

Dryships said that all of the gross proceeds from the sales will be used to pay down their respective loan facilities. The vessels are scheduled to be delivered to their new owners during November 2016.

DryShips owns a fleet of 16 Panamax drybulk carriers with a combined deadweight tonnage of some 1.2 million tons, and 6 offshore supply vessels, comprised of 2 platform supply and 4 oil spill recovery vessels.

2016-10-28 15:47:47

Brokers said that India's Great Eastern has snapped up the seven-year-old 179,000dwt Hanjin Cape Lambert.

The ship has not been on the market for a long time but still fetched a solid US$19.5m despite a recent dip in the Baltic cape index. The sale showed that modern capesizes continue to attract attention, notes one broker. VesselsValue.com prices the Hyundai Heavy Industries built bulker at US$18.21m. The acquisition doubles Great Eastern's cape fleet having bought the 179,000dwt Cape Althea from Japan's K Line in June.

2016-10-28 13:11:10

Norwegian shipping company Torvald Klaveness has sold its final newbuilt Kamsarmax vessel MV Bavang to Asian interests, according to the company.

The 82,000dwt bulk carrier, which was delivered this February from China's Yangzijiang Shipbuilding (YZJ), was one out of an eight order deal made in 2013 and 2014.

"The vessel was a non-core investment and in order to support the growth in our specialized segments, we decided to sell the vessel," said CEO Lasse Kristoffersen.

Six of the vessels were resold to partners of Klaveness, with the company providing project management and site supervision for the project, while one order was cancelled.

After the latest sale, which is not expected to have any profit and loss effect, Klaveness no longer owns any standard bulk vessels.

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