Dry Cargo

Panamax dry bulk carrier M/V Arethusa delivered to Diana Shipping

Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced Friday (07.08) that the Company has taken delivery on July 7, 2011 of the m/v "Corona", renamed "Arethusa", a 73,593 dwt Panamax dry bulk carrier built in 2007.
As previously announced, the Arethusa is chartered to Cargill International S.A., Geneva for a period of about eleven (11) months to about thirteen (13) months, at a gross charter rate of US$13,250 per day, minus a 5% commission paid to third parties. The charter commenced today.
This employment is anticipated to generate approximately US$4.2 million of gross revenue for the minimum scheduled period of the charter.
Including the newly-delivered "Arethusa", the Diana Shipping Inc. fleet currently consists of 24 dry bulk carriers (15 Panamax, 1 Post-Panamax and 8 Capesize) with a weighted average age of 5.8 years. The Company also previously announced two Newcastlemax new-building dry bulk carriers that are expected to be delivered during the first half of 2012.

Source: Diana Shipping Inc.

Dry Cargo News

Scorpio Bulkers announced that it has entered into agreements to sell three Capesize newbuilding dry bulk vessels, a Kamsarmax newbuilding dry bulk vessel and three LR1 newbuilding product tankers for approximately $290 million in aggregate, and received financing on an Ultramax newbuilding dry bulk vessel for an amount of up to $17 million.

The S&P market report compiled by Carriers for Weeks 15 and 16 notes few deals involving Greek players. Most notably, Moundreas has moved for two bulk carriers en bloc, namely ONOE (172.572 / 2000 / Japan) and CHITOSE (171.199 / 2000 / Japan), at the price of USD 18.5 million. Embiricos has also reportedly acquired a bulk carrier. The BLUE MATTERHORN (81.391 / 2011 / S. Korea) was sold for USD 17.7 million.
Greek shipowner John Angelicoussis has scrapped panamax bulker 73,100-dwt Anangel Omonia (Built 1996). The vessel will be disposed in Pakistan, market sources say.

Lion Shipbrokers report several Greek players have entered the secondhand market lately, mostly for bulker acquisitions. Most notably, clients of Anangel acquired three bulk carriers en bloc at the price of $43.6- $44 million; Greek buyers (clients of Aeolos Management) moved for M/V "BLUE MATTERHORN" (81,391 dwt, blt 2011, Hyundai Samho/Korea) at the price of $17.4-$17.8 million.

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