Dry bulk sector revisits 1980s lows and faces uncertain longer term outlook; with the market near bottom, attention is turning toward the length of the downturn, the effect on asset values and the impact of broader demand side changes. In terms of annual average fleet employment rates…
V.Ships, part of the V.Group, has entered into a partnership with Empros Lines to create a dedicated bulk carrier management cell in Greece. The cell will be staffed by the Empros’ technical team and hosted in the Piraeus office of V.Ships Greece…
Dry bulk shipping company Mercator Lines has inked an agreement to sell another vessel in an attempt to reduce its debt. The MV Kalpana Prem will be sold for US$2.9 million to a third party. It is expected to be delivered in April. In January…
MacGregor, part of Cargotec, has confirmed an important order to deliver hatch covers, cranes, deck machinery and steering gear to two new 25,600 dwt dual-fuelled handysize bulk carriers for Finnish owner ESL Shipping. The ice-class vessels…
DryShips an international owner of drybulk carriers and offshore support vessels, today announced that it has entered into an agreement to increase its secured revolving facility (“Revolver”) provided by an entity controlled by the Company’s Chairman and CEO…
Diana Shipping Inc has inked new time charters with Glencore Grain B.V., Rotterdam for two of its panamaxes at rates below the previous charters, with the contracts commencing on March 26. Diana entered into a time charter contract with Glencore for 74…
Overall confidence levels in the shipping industry fell to a record low in the three months to February 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. The average…
Today, Dryad Maritime release the Dryad Maritime Country Risk Map, an online risk portal that has been specifically designed to help commercial teams, CSOs, ship owners and managers optimise their maritime security strategies and identify new…
With 12 weeks of 2016 behind us, the dry bulk market is still looking bleak. As the current low demand for transportation of commodities continues, the market is doing what it can by scrapping old ships and restraining from ordering new ones…
SCF Group (PAO Sovcomflot) reported steep jump in their net profit to USD 354.5 million from USD 83.9 million in the earlier year. Its gross revenue increased by 7.6 per cent to USD 1,483 million (2014: USD 1,378 million) and its time charter equivalent revenue rose by 18…
A 623-foot Panamanian-flagged bulk carrier Sparna ran aground early Monday morning in the main shipping channel of the Columbia River near Cathlamet, Washington, according to the U.S. Coast Guard. The Sparna has taken on water in void spaces…
With around 80 per cent of global trade by volume and over 70 per cent of global trade by value carried by sea, and with these shares being even higher in the case of most developing countries, maritime transport, including liner shipping,…
Trelleborg’s marine systems operation hosted an exclusive one-day seminar for port authorities and consultants in partnership with the company’s exclusive agent for Greece, Seamark Marine on 1st March at the Metropolitan Chandris Hotel in Athens…
The HOYER Group, a leading bulk logistics providers, has appointed GAC as its official agency partner in 17 countries in the Middle East, Indian Subcontinent and Africa. A traditional independent family business since 1946, HOYER is one…
What should have been acceptable ship utilisation figures last year didn’t prevent spot rates from falling to historic lows. Carriers will need to intensify their capacity management tactics in 2016 if they are to reverse the trend. The…
