Dry Cargo

Greeks make secondhand market moves
Lion Shipbrokers report three deals in the secondhand market involving Greek players during Week 08. Clients of Modion and Baru Delta are linked to bulk carrier acquisitions while Lomar Shipping has reportedly moved for containership M/V "WILLIAM SHAKESPEARE".
Cyprus Maritime invests in Blenheim fleet

Cyprus Maritime has reportedly acquired a fleet of six panamax and post-panamax bulkers from Blenheim Shipping at a price of approximately $75 million. The Andreas Hadjiyiannis-led company will buy the following vessels: The 93,000-dwt Ocean Breeze (built 2009), the 91,000-dwt trio Sea Breeze (built 2009), Moon Breeze (built 2011) and Star Breeze (built 2010) and the 2004 built, 76,300-dwt pair Atlantic Breeze and Pacific Breeze.
Alpha Bulkers, Prime Marine linked to acquisitions
Lion Shipbrokers report M/V "FLORA ISLAND" (81,305 dwt, blt 2012 Hyundai/S.Korea) was sold to Greek buyers (clients of Alpha Bulkers Shipmanagement ) for $18.4 million, during Week 07...
Diana: Time Charter Contracts for m/v Semirio & m/v Sideris GS
Diana Shipping announced that, on February 17, 2015, through a separate wholly-owned subsidiary, it entered into a time charter contract with Rio Tinto Shipping (Asia) Pte. Ltd., for one of its Capesize dry bulk vessels, the m/v Semirio...
Greeks move for secondhand bulkers
In the Kamsarmax sector, during Week 07 we had the sale of the “A MAX” (84,000dwt - blt 11, S. Korea), which was sold at an auction to Iolcos Hellenic Maritime for $16.55m. In the Handysize sector we had the sale of the “INDIGO OCEAN” (28,749dwt-blt 08, Japan), which was sold to Greek buyers for low $9.0m.
Dry Bulk Shipping to Recover in Late 2015
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipping rates later in 2015, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.
Miserable dry bulk market fuels scrapping
Scrapping of dry bulk carrier has accelerated in the first weeks of the year on miserable freight rates. At the current pace, the 2015 figure could double that of last year, two shipping analysts warned. "A total of 55 vessels have been reported scrapped to date, including 14 Capes," said Erk Nikolai Stavseth and Kurt Waldeland, shipping analysts at Arctic in Oslo.

S&P, Newbuilding and Demolition Update
The dry bulk market has been experiencing multi-year lows; the Baltic Dry Index (BDI) and its component sub-indices for the capesize, panamax bulk, supramax and handysize markets have been setting new lows by the day; the vessels are operating below operating break-even levels, and shipowners are going fast through their cash reserves or drawing down on their lines of credit.
Iolcos linked to bulker acquisition
Lion Shipbrokers report deals in the secondhand market for bulkers, involving Greek players. Most notably, M/V "A MAX" (84,062 dwt, blt 2011 Hyundai/S.Korea) was sold to Greek buyers (clients of Iolcos) at the reported price of $16.55 million.
Direct Continuation of Time Charter Agreement for m/v Arethusa
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Arethusa.

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