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Bulk Carriers

Pacific Basin Closes New Credit Facility

Pic: Pacific Basin Shipping Limited

Hong Kong-based dry bulk shipping company Pacific Basin Shipping Limited has closed a new USD 115 million 7-year reducing revolving credit facility secured over 10 of the Company’s owned ships.The new facility is supported by a syndicate of three leading international banks, said a press release from the dry bulk shipping company.

INSIGHTS: Dennis Wilmsmeyer, Executive Director, America's Central Port

Dennis Wilmsmeyer, Executive Director, America's Central Port

Dennis Wilmsmeyer was appointed Executive Director at America’s Central Port on July 1, 2010, prior to which he served 11 years with the Port District, six as General Manager.With over 30 years of experience, Dennis brings a wealth of knowledge and expertise to the table in the areas of transportation, planning, and economic development.

First Woman President for BIMCO

Sadan Kaptanoglu. Image: BIMCO

The world’s largest shipping association BIMCO has elected Şadan Kaptanoğlu, managing director of HI Kaptanoglu Shipping, as its new President.“It is a great privilege for me to chair the BIMCO Board of Directors in this crucial time of change for shipping. The environment and climate change are key

N.Korea Protests U.S. Ship Seizure

The bulk carrier WISE HONEST (CREDIT: MarineTraffic.com / © Sergei Skriabin

North Korea said on Tuesday the seizure of one of its cargo ships by the United States was an illegal act that violated the spirit of a summit between the two countries' leaders, and demanded the return of the vessel without delay.The North's foreign ministry said in a statement that it rejected U.N.

St. Louis Ports, Terminals Tops in Efficiency

Image: St. Louis Regional Freightway.

Now Capture 39 Percent of the Upper Mississippi River Barge Traffic; new data highlights concentration of river terminals, resulting in greater efficiencies and lower costs.The latest data from the U.S. Army Corps of Engineers (USACE) reveals the St. Louis Regional Ports held onto the top ranking as

Bulk Shipping Comes Back to Oakland Port

Pic: Port of Oakland

Bulk shipping operations could soon return to the San Francisco Bay's Port of Oakland for the first time in 20 years.  The Port said  it’s negotiating with a Canadian building materials shipper to transport sand and gravel here.The Port’s governing Board yesterday authorized

Polsteam Gets $175mln for 34 Bulkers

Image: Polsteam Brokers

Bank syndicate led by DVB Bank SE completed a $175 million financing of a 34 Bulk Carrier portfolio for Polsteam Group.Polska Żegluga Morska known as Polsteam or PŻM, is a cargo ship operator based in Szczecin, Poland. It has one of the largest route networks in the world, offering services to around 60 countries.

Bulker Values to Slide Further in 2019

Image: VesselsValue Ltd

VesselsValue has, together with Oslo-based shipping consultancy firm ViaMar, released forecasted asset values in which it was indicated that bulker values would continue to slide in the current year.It has been a tumultuous six months in the dry bulk sector, with China imposing quotas limiting coal imports during November and December 2018,

Clipper Bulk Axes 40 Staff

Image: Clipper Bulk

International dry bulk shipping company Clipper Group  has launched a comprehensive restructuring involving a large number of layoffs, especially at the company's Copenhagen headquarters.The dry bulk carrier announced a series of initiatives to strengthen its business platform amid continued weak markets.

Pangaea Orders Ice Class Post-Panamax Pair

Image: Pangaea Logistics Solutions

Pangaea Logistics Solutions, a global provider of comprehensive maritime logistics and transportation solutions, has signed a contract to build two new post-panamax 95,000 dwt ice-class dry bulk vessels at Guangzhou Shipyard International in China to support the new business.Pangaea holds options to build two more vessels at Guangzhou,

DryShips Acquires Newcastlemax Drybulker

File Photo: DryShips

Greece-based dry bulk shipping company DryShips Inc announced that it has agreed to acquire from an entity that may be deemed to be beneficially owned by its Chairman and CEO, George Economou, one Newcastlemax drybulk carrier built in 2017, for a purchase price of approximately $50.0 million. The

Flood-Swollen Mississippi River Closed at St. Louis

The Mississippi River as it winds around the St. Louis Arch on a better day. CREDIT: St. Louis Regional Freightway.

The U.S. Coast Guard said it closed the Mississippi River near St. Louis to boat and barge traffic on Friday as excessive rains and heavy snow melt this spring swelled the major shipping waterway to near record levels.The river - a key transportation artery for shipments of grain, agricultural chemicals,

Diana Shipping Fixes Arethusa with Ausca

m/v Arethusa. Image:   Diana Shipping

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Arethusa.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$9,

Kirby Posts 2019 Q1 Results

David Grzebinski, Kirby’s President and Chief Executive Officer

Kirby Corporation announced net earnings attributable to Kirby for the first quarter ended March 31, 2019 of $44.3 million, or $0.74 per share, compared with earnings of $32.5 million, or $0.54 per share, for the 2018 first quarter.  Excluding certain one-time charges, 2018 first quarter net earnings attributable to Kirby were $37.

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