Excel Maritime Carriers Takes Delivery of Two Supramax Vessels Expanding Fleet to 18 Vessels
Market Wire, December, 2007
Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it took delivery of two Supramax vessels, the M/V Mairouli and the M/V July M, on December 11, 2007 and December 14, 2007 respectively, which the Company had agreed to acquire in July 2007 for $63 mil each. Upon delivery to the Company, the two vessels were deployed in the spot market.
The M/V Mairouli, was built in 2005 at Imabari Shipbuilding Co. Ltd. in Japan and has a carrying capacity of 53,206 dwt. The M/V July M was built in 2005 at Oshima Shipbuilding Co. Ltd. in Japan and has a carrying capacity of 55,567 dwt. The current fleet of Excel Maritime includes ten Panamax, two Supramax and six Handymax bulk carriers with a total carrying capacity of 1,074,022 deadweight tons with an average fleet age of 12.9 years.
Fleet Deployment (as of December 20, 2007)
Vessel Name DWT Year Built Type Deployment
------------ ------------ ------------ ------------
Lady 41,090 1985 Handymax Short Period
------------ ------------ ------------ ------------
Emerald 45,588 1998 Handymax Short Period
------------ ------------ ------------ ------------
Fortezza 69,634 1993 Panamax Short Period
------------ ------------ ------------ ------------
Marybelle 42,552 1987 Handymax Short Period
------------ ------------ ------------ ------------
Rodon 73,670 1993 Panamax Period
------------ ------------ ------------ ------------
Angela Star 73,798 1998 Panamax Period
------------ ------------ ------------ ------------
Happy Day 71,694 1997 Panamax Period
------------ ------------ ------------ ------------
Renuar 70,128 1993 Panamax Period
------------ ------------ ------------ ------------
Isminaki 74,577 1998 Panamax Period
------------ ------------ ------------ ------------
Princess I 38,858 1994 Handymax Period
------------ ------------ ------------ ------------
Powerful 70,083 1994 Panamax Period
------------ ------------ ------------ ------------
First Endeavour 69,111 1994 Panamax Period
------------ ------------ ------------ ------------
Elinakos 73,751 1997 Panamax Period
------------ ------------ ------------ ------------
Charter Charter Expected
Vessel Name Commencement Period Redelivery Charter Hire
------------ ------------ ------------ ------------
Lady 4/27/2007 6-8 months Jan-08 $ 29,000
------------ ------------ ------------ ------------
Emerald 8/20/2007 5-7 months Feb-08 $ 42,900
------------ ------------ ------------ ------------
Fortezza 11/01/2007 4-5 months Apr-08 $ 93,000
------------ ------------ ------------ ------------
Marybelle 10/06/2007 5-7 months Apr-08 $ 50,650
------------ ------------ ------------ ------------
Rodon 11/27/2006 21-23 months Aug-08 $ 24,000
------------ ------------ ------------ ------------
Angela Star 10/27/2006 24-26 months Nov-08 $ 26,500
------------ ------------ ------------ ------------
Happy Day 12/11/2006 23-25 months Dec-08 $ 25,500
------------ ------------ ------------ ------------
Renuar 1/26/2007 22-24 months Jan-09 $ 26,000
------------ ------------ ------------ ------------
Isminaki 4/24/2007 24-26 months May-09 $ 32,000
------------ ------------ ------------ ------------
Princess I 7/20/2007 22-24 months Jun-09 $ 30,000
------------ ------------ ------------ ------------
Powerful 7/07/2007 23-25 months Jul-09 $ 39,000
------------ ------------ ------------ ------------
First Endeavour 8/25/2007 23-25 months Sept-09 $ 45,000
------------ ------------ ------------ ------------
Elinakos 7/29/2006 11-12 months Oct-09 $ 58,000
------------ ------------ ------------ ------------
Year
Vessel Name DWT Built Type Deployment
-------- -------- -------- --------
Birthday 71,504 1993 Panamax Spot
-------- -------- -------- --------
July M 55,567 2005 Supramax Spot
-------- -------- -------- --------
Mairouli 53,206 2005 Supramax Spot
-------- -------- -------- --------
Attractive 41,524 1985 Handymax Spot
-------- -------- -------- --------
Swift 37,687 1984 Handymax Spot
-------- -------- -------- --------
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Samsung Mobile Highlights Mobile Innovation and Leadership at International CES 2010
- Qosmos Gains Momentum with Network Intelligence Technology
- Graphic.ly Debuts in Microsoft’s Keynote Address at Consumer Electronics Show
- Research and Markets: Construction Site Supplies Market in Russia: a Comprehensive Business Report
- Research and Markets: Overview of the Business & Enterprise Application Software and Services Market in Developed Asia-Pacific
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- Using object-oriented analysis and design over traditional structured analysis and design
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
