The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipowners, year on year. 2016 has to be the turning point in addressing the fundamental imbalance of the dry bulk market…
“Scrapping ships and no new builds is the fastest road to recovery for the dry bulk market”BIMCO President Philippe Louis-Dreyfus comments on BIMCO’s latest market analysis:The dry bulk market could become profitable again in 2019 – but…
Earlier this month, BigLift Shipping’s Happy Dynamic successfully transported two 560 mt Siwertell Continuous Ship Unloaders (CSUs) from Chioggia, Italy, to Liverpool, UK.The CSUs are 35 m high and 24 m wide and, when in service, have a discharge capacity of 1…
The latest Gibson Market Report focused on the age profile of the VLCC fleet and the prospects for trading life beyond 15 years of age. Analysis of the Suezmax fleet shows a similar picture, with eighty-nine units over15 years of age (18%…
Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$5,000 per day…
The Baltic Dry Index (BDI) ’s positive effect on capacity being removed from the fleet did not continue into Q2 2016, as capesize demolition came to a halt.The BDI went from “devastating” in February to “poor” in April with the highest total…
Maritime New Zealand has appointed Captain Jon Peters as harbormaster for the Port of Taharoa, replacing Maritime NZ staff member Capt. Richard Lough, who held the role on a temporary basis. Capt. Peters brings to the role more than 25 years’ maritime experience…
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31…
Pioneer Marine Inc., a shipowner and global drybulk handysize transportation service provider, has terminated the last two newbuilding contracts for Green Dolphin 38,400 dwt Handysize vessels following mutual agreement with Yangzhou Guoyu Shipyard…
Malaysian Bulk Carriers Bhd (Maybulk) is said to be putting two more vessels up for sale, says The Edge, a local media. This comes on the heels of reports that it has sold one of its five post-Panamax dry bulk carriers — the 87,000-deadweight tonne (dwt) Alam Pesona — for US$6…
Phaethon International has chartered a panamax bulk carrier Which is owned by the Greek shipping Diana Shipping on for up to eight months with a daily rate of US $ 5,250, according to the Baltic Exchange data. Coronis (74,381 dwt, built…
Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ('Pioneer Marine,' or the 'Company') a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the first quarter ended March 31…
Hellenic Carriers Limited, an international provider of marine transportation services for dry bulk cargoes, on 17 May 2016 sold the Company’s vessel HELLENIC WIND (74,000 DWT built 1997) for demolition to an unrelated third party for a total gross cash consideration of US$2…
A one-day strike at the Rosario grains export hub in Argentina ended on Friday after the government compelled union and company officials to enter into wage negotiations for 15 days, a union leader said. The strike began at midnight local…
Container and bulk shipping company Universal Marine and MirTac, a provider of fleet management solutions, have implemented Star Fleet Management software onboard the new bulk carriers mv Pride and mv Star II.Recently, a joint venture between…
