These ships are capable of traveling to small ports with length and draught restrictions, as well as lacking the infrastructure for cargo loading and unloading. Genco Shipping to acquire 3 ultramax vessels in exchange for 6 older handysize vessels 21 Dec 2020: Scorpio Bulkers announces exit from dry bulk sector, classifying its fleet as held for sale 21 Dec 2020: Diana Shipping announces sale of a 2001-built panamax for $5.75 m. and T/C for a 2010-built capesize at $14,000 / day 21 Dec 2020 Commercial use of IAA PortNews content without the Agency’s written consent is prohibited. FASTFREIGHT PTE LTD. is a global player in the drybulk arena established in Singapore providing freight services to Mid size fleet ranging from Handy to Panamax size With Offices located in strategic locations namely Mumbai & Dubai, we are well placed to reach our global clients cutting across time zones. The Europe-Asia trade represents the company's largest market; it already has 100 ships serving this route. Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Genco Shipping to acquire 3 ultramax vessels in exchange for 6 older handysize vessels 21 Dec 2020: Scorpio Bulkers announces exit from dry bulk sector, classifying its fleet as held for sale 21 Dec 2020: Diana Shipping announces sale of a 2001-built panamax for $5.75 m. and T/C for a 2010-built capesize at $14,000 / day 21 Dec 2020 The Atlantic basin showed some opposing signs, with some altic routes for coal trade though succeeding some good numbers. Compared to larger bulk carriers, handysizes carry a wider variety of cargo types. The most common industry-standard specification handysize bulker is now about 32,000 metric tons of deadweight on a summer draft of about 10 metres (33 ft), and features 5 cargo holds with hydraulically operated hatch covers, with four 30 metric ton cranes for cargo handling. Maersk hopes to consolidate its share of the Europe-Asia trade with the addition of the Triple-E class ships. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain. [2][3], Their small size allows Handysize vessels to enter smaller ports to pick up cargoes, and because in most cases they are 'geared' - i.e. Genco Shipping & Trading to acquire three modern Ultramax vessels in exchange for six older non-core Handysize vessels. Chinamax ship. - Despite multiple recent orders for new ships, the handysize sector still has the highest average age profile of the major bulk carrier sectors. Trade prices are not sourced from all markets ... grain, steel products and other drybulk cargoes along worldwide shipping routes. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain. Except the conventional handysize, there are also those handysize bulkers of heavier construction which can load logs (along with other conventional cargoes). These ships are capable of traveling to small ports with length and draught restrictions, as well as lacking the infrastructure for cargo loading and unloading. The expansion of Panama Canal by making new locks have given birth to a new class of ships called New Panamax vessels. (Bloomberg) -- Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route.Supertankers delivering 2-million-barrel shipments of the kingdom’s oil to China are losing $736 a day for the privilege, according to data from the Baltic Exchange in London on Tuesday. Handysize bulkers are built mainly by shipyards in Japan, Korea, China, Vietnam, the Philippines and India,[citation needed] though a few other countries also have the capacity to build such vessels. The transaction, which is part of Genco’s efforts to modernize its fleet and create a more focused asset base while reducing its carbon footprint, is structured as an asset swap without monetary consideration or additional capital required. 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The Europe-Asia trade represents the company's largest market; it already has 100 ships serving this route. The vessels are scheduled to deliver to both parties through the first quarter of 2021. Their dry bulk cargo includes iron ore, coal, cement, phosphate, finished steel products, wooden logs, fertilizer, and grains to name a few. Genco is to acquire the following three Ultramax vessels…Vessel Type DWT Yard Built Year BuiltTBR: Genco Vigilant Ultramax 63,671 Jiangsu 2015TBR: Genco Freedom Ultramax 63,671 Jiangsu 2015TBR: Genco Magic Ultramax 63,446 Jiangsu 2014 …in exchange for the six Handysize vessels belowVessel Type DWT Yard Built Year BuiltGenco Ocean Handysize 34,409 SPP 2010Baltic Cove Handysize 34,403 SPP 2010Genco Avra Handysize 34,391 SPP 2011Genco Mare Handysize 34,428 SPP 2011Genco Spirit Handysize 34,432 SPP 2011Baltic Fox Handysize 31,883 Hakodate 2010. As of December 21, 2020, Genco Shipping & Trading Limited’s fleet consists of 17 Capesize, six Ultramax, 17 Supramax and seven Handysize vessels with an aggregate capacity of approximately 4,573,000 dwt and an average age of 10.4 years. They are numerically the most common size of bulk carrier, with nearly 2000 units in service totalling about 43 million tons. Handysize is also sometimes used to refer to the span of up to 60,000 tons, with the vessels above 35,000 tonnes referred to as Handymax or Supramax. Genco’s pro forma fleet will consist of 41 vessels including 17 Capesize, nine Ultramax and 15 Supramax vessels with an aggregate capacity of approximately 4,422,000 dwt and an average age of 10.0 years. Handysize bulkers have a deadweight from about 15,000 tons to about 39,000 tons and they are usually equipped with 5 cargo holds, while the smaller handies may contain 4 cargo holds as well. Handysize is a naval architecture term for smaller bulk carriers or oil tanker with deadweight of up to 50,000 tonnes,[1] although there is no official definition in terms of exact tonnages. Except the conventional handysize, there are also those handysize bulkers of heavier construction which can load logs (along with other conventional cargoes). The Baltic Dry Index (BDI), is issued daily by the London-based Baltic Exchange.The BDI is a composite of the Capesize, Panamax and Supramax Timecharter Averages.It is reported around the world as a proxy for dry bulk shipping stocks as well as a general shipping market bellwether. We transport iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Such vessels are often referred to as 'handy loggers'. Founder: Media Group PortNews LLC. Not restricted to Baltic Sea countries, the index provides "an assessment of the price of moving the major raw materials by sea. 1 x Handysize Bulker 2011 – 2013 Loan “Owner” Norway 1 x Handysize Bulker 2011 – 2014 Loan “Bomar Moon” UK 1 x Mini-Bulker 2010 – 2017 AIRCRAFT: Aerolitoral Mexico 11 x Embraer 145 Jets, 50 pax 2005 - 2016 Carpatair Romania Find the latest Danaos Corporation (DAC) stock quote, history, news and other vital information to help you with your stock trading and investing. A handysize bulker was reported to be flooding and in danger of sinking after it experienced a cargo shift, according to a Lloyd’s List Intelligence casualty report. Norsepower has completed the installation of two 35-metre tall tiltable Rotor Sails on a roro for it to achieve reductions in fuel consumption, fuel costs and emissions by up to 25%. Handysize bulkers have a deadweight from about 15,000 tons to about 39,000 tons and they are usually equipped with 5 cargo holds, while the smaller handies may contain 4 cargo holds as well. "The COVID-19 pandemic has pushed us back five years when it comes to trade - and at the same time it has catapulted us … The OOW Maritime Dictionary is updated at frequent intervals. Sizes of cargo vessels range from a modest handysize carriers(10,000 - 30,000 DWT) ... As the name suggests, these ships are often used to move cargo to and from China along several trade routes, such as the iron ore route from Brazil to China. Trade prices are not sourced from all markets ... grain, steel products and other drybulk cargoes along worldwide shipping routes. Maersk plans to use the ships to service routes between Europe and Asia, projecting that Chinese exports will continue to grow. The best way to find the definition of the term you are searching for is by pressing ctr+f in your web browser to pop up the search bar and type the term you want to find. The majority of the information presented below has been compiled from various sources either from the internet or through personal day to day work … These include steel products, grain, metal ores, phosphate, cement, logs, woodchips and other types of so-called 'break bulk cargo'. Trade routes. Following the conclusion of the transactions, Genco will have fully exited the Handysize sector while creating a more focused fleet consisting of Capesize, Ultramax and Supramax tonnage. Find the latest Danaos Corporation (DAC) stock quote, history, news and other vital information to help you with your stock trading and investing. The expansion of Panama Canal by making new locks have given birth to a new class of ships called New Panamax vessels. 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