WHAT'S NEW

OCTOBER 2015

SINGAPORE OFFICE MOVES TO NEW LOCATION

Nordic Bulk Carriers A/S Singapore has moved to new office space.

24C Duxton Hill, Singapore 089607

SEPTEMBER 24-27, 2015

TEAM INTREPID-PANGAEA RAISES OVER $12,920!

The SCI Mountain Challenge has collectively raised $286,792 to date!

Team Intrepid-Pangaea was made up of Rich du Moulin, Mark Filanowski, Barbara Gradley & Andrew Baer who raised $12,920!

 

All proceeds from the SCI Mountain Challenge directly benefit the mariners SCI serves through our programs like ship visiting and hospitality, advocacy, and education. With the Seamen’s Church
Institute (SCI) as the charitable beneficiary of the event, everyone
“wins.” Experience an adventure to remember for a fantastic cause.

 

In addition to the registration fee, SCI asks participants to raise funds and awareness for the Institute and its mariner support services. SCI challenges each team to raise at least $3,000. The amount of philanthropic dollars raised in support of mariners is an important element of the competition and part of the basis by which SCI
awards prizes.

 

 

A TEST OF ENDURANCE INSPIRED BY MARINERS

Each working day, mariners push themselves in a race against time

and nature to deliver the world’s commerce. In SCI’s charity event this fall, the Institute asks participants to join them in solidarity. Teams of competitors take to harsh environments to push physical limits, racing up steep summits in a fight to the finish line.

 

Funds raised by teams strengthen SCI’s valuable support services to mariners. Although taking place on land, the tests in the SCI Mountain Challenge parallel many of the hardships mariners confront at sea: the elements (facing northern New England’s notoriously unpredictable weather), isolation (teams work self-sufficiently on the mountain race courses) and physically demanding work (participants ascend over

3,000 feet each day).

 

TEAM Intrepid-Pangaea was comprised of Barbara Gradley, Rich du Moulin, Andrew Baer and Mark Filanowski (not pictured).

SEPTEMBER 1, 2015

Photo © Baffinland Iron Mines

Photo © Connor McLeod-Honey Badger Photography

AUGUST 18, 2015

AUGUST 14, 2015

March 25, 2015

CMA SHIPPING CONFERENCE 2015

Pangaea to Buy for COA

Coll said it would cost the Rhode island-based bulker owner and operator a premium to time-charter a vessel for five years in today's market.

 

"So we can go out today and buy a ship cheaper than chartering a ship for five years," he said at the Connecticut Maritime Association's Shipping 2015 conference.

 

Earlier this month, Pangaea announced that it inked a five-year COA to carry 2 million tonnes of "steel-related products" from the Gulf of Mexico to Central America beginning in 2016.

 

In a presentation deciding between owning or chartering vessels, Coll says his company does not buy ships without contract coverage, and he said Pangaea usually keeps a "net short" position in its fleet employment.

 

"How do we look at chartering versus owning? Really, it's pretty simple," he said. "If it's cheaper for us to charter, we will charter. If it is cheaper for us to own, we will own, knowing that you have to take a critical mass of vessels on the water."

 

Coll said that New York-listed Pangaea replaced its recently scrapped, 66,000-dwt Bulk Cajun (built 1984) with a chartered vessel. He explained that a more modern chartered ship in the current market would cost about the same as an owner's operating expense excluding financing.

 

Why Buy?

 

"We could buy a ship to replace it, but why would we do that?" he said.

 

The Bulk Cajun was making "good money" on a shuttle service but was approaching a required dry-dock. Coll said it would cost $1m to keep it in service but selling the vessel brought $5m.

 

Pangaea has ownership interests in 17 bulkers and newbuildings. But with its chartered-in ships, it operated an average of more than 44 vessels each day last year.

 

Pangaea is the parent of Phoenix Bulk Carriers, Americas Bulk Transport, Nordic Bulk Carriers and Seamar Management.

 

-as seen in Tradewinds

photo courtesy Chris Preovolos

February 6, 2015

DELIVERY OF NEWBUILDING 3- NORDIC ODIN

We are pleased to announce that our newbuilding M/V Nordic Odin

was delivered on February 5, 2015 from Oshima Shipyard in Japan.

 

M/V Nordic Odin is the second vessel in a series of four Panamax
newbuildings, and she is classed with the highest commercial ice

class - 1A. The addition of Nordic Olympic contributes and strengthens

our position as a world-leading operator of 1A ice classed tonnage.

 

February 6, 2015

DELIVERY OF NEWBUILDING 2- NORDIC OLYMPIC

We are pleased to announce that our newbuilding M/V Nordic Olympic

was delivered on February 5, 2015 from Oshima Shipyard in Japan.

 

M/V Nordic Olympic is the second vessel in a series of four Panamax
newbuildings, and she is classed with the highest commercial ice

class - 1A. The addition of Nordic Olympic contributes and strengthens

our position as a world-leading operator of 1A ice classed tonnage.

 

September 25, 2014

DELIVERY OF NEWBUILDING 1- NORDIC OSHIMA

We are pleased to announce that our newbuilding M/V Nordic Oshima

was delivered on September 25, 2014 from Oshima Shipyard in Japan.

 

M/V Nordic Oshima is the first vessel in a series of four Panamax
newbuildings, and she is classed with the highest commercial ice

class - 1A. The addition of Nordic Oshima contributes and strengthens

our position as a world-leading operator of 1A ice classed tonnage.

 

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