China's biggest shipping line China Ocean Shipping Corporation (Coscocs) has revealed an ambitious plan to increase its container shipping capacity to hit a 2 million TEUs over the next three years, says China Daily. The company is raising…
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at that time as some of the most lucrative shipping deals ever seen, says a report from Clarksons…
Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes.These empty…
The dry bulk shipping sector has been dashed upon the rocks of vessel oversupply and slowing economic growth. Not dry bulk shipping business is grappling with an unprecedented crisis of too many ships and not enough cargoes, says a report in WSJ…
Billionaire investor John Fredriksen's dry bulk shipping firm Golden Ocean plans to raise $200 million in fresh equity as it continues to face weak markets for its vessels, the company said on Thursday. Fredriksen's investment vehicle Hemen Holding…
Star Bulk Carriers Corp. a global shipping company focusing on the transportation of dry bulk cargoes, announced that it has entered into a Capesize vessel pooling agreement (“CCL”) with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP LIMITED and C TRANSPORT HOLDING LTD…
Bibby Ship Management is once again the largest representative for vessels flying the Isle of Man flag in providing representative services for 30% of vessel tonnage registered on the island. This compares with 25% in 2014, according to official statistics…
The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO. 2016 has shown no improvements so far and prospects for the rest of the year are not looking promising…
Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited resigned on December 28, 2015, the Company’s Board of Directors was comprised of two Class II directors…
Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei. The global commodities bust has rocked the dry-bulk shipping industry…
A new 24-hour general strike in Greece is planned for February 4, by both public and private sector unions, while the Seamen’s Union is scheduling another 48-hour strike on the same date, Inchcape Shipping Services (ISS) is advising.The…
Parties bring together technical capabilities on trans-Arctic shippingFacing changing climate conditions in the Arctic which have effectively generated new opportunities shipping in the region, classification society ABS and commercial shipper…
A report from the Freight Investor Services (FIS): “When there’s blood on the streets, it’s time to buy, even if the blood is your own,” shipowner Leon Patitsas rather enigmatically told this week’s Marine Money conference. Dry bulk, he…
Malaysian Bulk Carriers Bhd (Maybulk) is forecasting significant losses for the fourth quarter of 2015 and the financial year ended December 31, 2015 amid depressed market condition. Maybulk, which operates the country’s largest fleet of dry bulk vessels used for international shipping…
Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss…