Paragon buys two containerships

Paragon buys two containerships    Athens-based Paragon Shipping Inc. said it had entered into agreements to acquire two 3,400 TEU newly built containerships from their builder Howardtwerke-Deutsche Werft, GmbH, Germany at a price of 40 million euro ($49 million) each.
   The container vessels are to be delivered to Paragon in July to August. The company also said it had sold a contract to build a Kamsarmax bulk carrier.
   “We believe the acquisition of the container vessels were made at attractive prices at an advantageous point in the container cycle,' said Michael Bodouroglou, the company’s chairman and chief executive officer.
   Kamsarmax is a term for the largest ships able to call at Port Kamsar in Guinea where a major loading terminal for bauxite, is restricted to vessels of not more than 229 meters length overall.