Gains are largely being driven by
bulkers in the larger Capesize category (with capacities of 100,000 deadweight tons, DWT, or more) but also by Panamaxes (65,000-90,000 DWT).
Scorpio
Bulkers will have certain options to either sell or acquire the vessels during the charter period.
Through this agreement, MTN Business will be the exclusive provider of mobile and fixed telephony for Safe
Bulkers Management Ltd.
Other significant reductions included Handysize
Bulkers (4.8%) and Panamax
Bulkers (4.4%).
Emir Mavani Abdullah said their company together with Westbury had planned to add another 40,000 tonnes of bulk capacity to expand services at MAPAK Qasim
Bulkers beyond the requirements of the local filter.
BANKING AND CREDIT NEWS-15 March 2010-BofA Merill Lynch, C Suisse to book-run Greek Safe
Bulkers' stock issue(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com
The company has contracted 13 in total comprising four panamax products tankers, two long-range-two (LR2) aframax clean tankers, four handymax
bulkers and three handysize dry-cargo ships in a move that would appear to run contrary to the current global recession.
The depressing loss situation is most acute for a particular type of ship: dry bulk vessels or "
bulkers." These ships, which carry grain, metals and other dry goods, were sinking in the early 1990s at an alarming rate.
What separates self-unloaders from other Great Lakes ships, known as
bulkers, is that they are fitted with a conveyor system which allows them to be unloaded with a minimum or, in some cases, no dock-side unloading facilities.
The downside of this phenomenon, as shown in the latest earnings of Safe
Bulkers (NYSE:SB), is that a sharp rebound in dry bulk rates beginning at the tail end of the second quarter is not showing up in earnings reports until the third quarter.
DOWN AFTER EARNINGS: Safe
Bulkers (SB) down 10.3%...
