The Jian-Ming: Crew Feedback and Vessel Data

In a significant development in the maritime sector, a fresh time charter has been successfully concluded, with the vessel delivered in South China. The operational plan includes navigating two laden legs, ensuring efficient cargo transport during the charter period. Following the initial route, the vessel is scheduled to be redelivered back to South China. The charter rate has been established at a competitive $10,500 per day, reflecting the robust demand in the region. With this agreement, Ausca strengthens its presence in the maritime logistics industry.

On July 22, 2017, the bulk carrier 'Samatan', carrying a crew of 24, encountered difficulties while navigating towards the coal terminal of the Huaneng Dongfang power plant located on the western coast of Hainan Island. The vessel, loaded with coal, ran aground in the afternoon. Following intensive efforts, a team of tugs initiated a salvage operation at 11 p.m. and successfully refloated the 'Samatan' late on the night of July 23. The bulk carrier proceeded to berth at the power plant's pier. Subsequent to the grounding incident, the vessel underwent a thorough hull survey and remained at the terminal for inspection on the morning of July 24. For further details, you can check the Chinese news report available at: http://www.hinews.cn/news/system/2017/07/23/031197758.shtml

In a notable move within the drybulk sector, Greek shipping firm DryShips Inc. has finalized the sale of five Panamax bulk carriers for a total gross sum of USD 29.4 million. The vessels included in this package deal are the Panamax ships Amalfi and Samatan, both of which were sold along with their existing bank debt to entities linked to the company’s Chairman and CEO, George Economou. This transaction also involved an agreement to enhance the company’s secured revolving credit facility, which is managed by an entity under Economou’s control. This strategic maneuver highlights DryShips' ongoing efforts to optimize its financial structure and operational capability in the maritime industry.