krogragg

Category: Dry Cargo

  • Diana offloads stalled ultramax

    Diana offloads stalled ultramax Diana Shipping has managed to seal a long-delayed exit from an ultramax after a previous sale collapsed, while also locking in a higher-paying charter for one of its capesizes. The New York-listed owner said the 2016-built 63,500 dwt DSI Drammen has been sold to an unrelated buyer for about $26.4m before…

  • Aasen Shipping adds another hybrid methanol-ready bulker at Bodewes

    Aasen Shipping adds another hybrid methanol-ready bulker at Bodewes Norway’s Aasen Shipping has expanded its orderbook once again, returning to Royal Bodewes for a sixth hybrid-powered, methanol-ready self-discharging bulk carrier. The Mosterhamn-based owner has signed up for another 119.95 m vessel at the Dutch yard, following its series of five 9,400 dwt battery-hybrid self-dischargers ordered…

  • Splash Wrap: Bridges, bombs, bottlenecks

    Splash Wrap: Bridges, bombs, bottlenecks The Black Sea entered one of its most volatile phases as Ukraine and Russia escalated long-range strikes on each other’s critical energy and port infrastructure, leaving commercial shipping exposed to huge levels of risk. Latest shipping traffic data points toward a rise in Suez Canal transits, with authorities in Egypt…

  • Genco bulks up with newcastlemax brace

    Genco bulks up with newcastlemax brace US-based Genco Shipping & Trading has struck a deal to buy two modern, scrubber-fitted newcastlemax bulk carriers for a combined $145.5m, marking the company’s first move into the segment. The New York-listed owner, led by John Wobensmith, expects to take delivery of the 208,000 dwt vessels in the first…

  • Star Bulk confirms three kamsarmax newbuilds at Hengli

    Star Bulk confirms three kamsarmax newbuilds at Hengli Greek dry bulk heavyweight Star Bulk Carriers has confirmed agreements to acquire three kamsarmax vessels at Hengli Shipbuilding. The Nasdaq-listed, Athens-based owner signed three novation and amendment agreements with Hengli Shipbuilding (Singapore) and Hengli Shipbuilding (Dalian) for 82,000 dwt vessels currently under construction. Deliveries are scheduled progressively…

  • Atlantic Bulk Carriers back for four more ultramaxes in China

    Atlantic Bulk Carriers back for four more ultramaxes in China Greek dry bulk owner Atlantic Bulk Carriers Management is pressing ahead with its fleet renewal drive, returning to China for another round of ultramax newbuildings. Brokers in Greece report that the Piraeus-based company has ordered four 63,500 dwt ultramaxes at Nantong Xiangyu Shipbuilding & Offshore…

  • Yangzijiang Maritime seals SGX debut with multiple vessel deals

    Yangzijiang Maritime seals SGX debut with multiple vessel deals Yangzijiang Maritime Development marked its first day on the Singapore Stock Exchange’s mainboard with a string of new vessel deals, underscoring its ambitions as a growing maritime financial and asset management player. The company said it has signed contracts with a Marshall Islands-based owner for the…

  • Black Sea threat level red

    Black Sea threat level red The Black Sea has entered one of its most volatile phases as Ukraine and Russia escalate long-range strikes on each other’s critical energy and port infrastructure, leaving commercial shipping exposed to huge levels of risk. Over the weekend, Ukraine claimed fresh hits on Rosneft’s Ryazan refinery — one of Russia’s…

  • Is the dry bulk market overestimating Simandou’s impact?

    Is the dry bulk market overestimating Simandou’s impact? The extra volumes will result in a significant disruption in the matrix of global iron ore supply, writes Will Fray, director, Maritime Strategies International, but there remain reasons to be cautious. The numbers around the Simandou iron ore project in Guinea approach the hyperbolic. Rio Tinto, as…

  • 2020 Bulkers offloads remaining newcastlemaxes

    2020 Bulkers offloads remaining newcastlemaxes 2020 Bulkers has agreed to sell its last two newcastlemaxes, wrapping up the monetisation of a fleet-building programme that started eight years ago. The Oslo-listed owner said it has signed deals with an undisclosed buyer for the 2020-built Bulk Sydney and Bulk Santos at a combined price of $145.5m. The…

  • Splash Wrap: Flows shift again

    Splash Wrap: Flows shift again The Houthis officially announced that they have paused maritime attacks on Israel and lifted their so-called naval blockade on Israeli ports. This announcement appeared at the end of a letter sent to Hamas’s military wing, Kata’ib al-Qassam, by the newly appointed Houthi chief of staff, Yousef Hassan Al-Madani, who succeeded…

  • Simandou opens, reshaping the capesize trades

    Simandou opens, reshaping the capesize trades The long-awaited Simandou iron ore project has finally roared to life — a $20bn gamechanger set to shake up global dry bulk flows, stretch tonne-miles, and tilt the balance of the iron ore market away from Australia and Brazil. On Tuesday, Guinea officially launched the vast Simandou project —…

  • Shipping hesitates on Red Sea return

    Shipping hesitates on Red Sea return Experts covering the Red Sea shipping crisis have advised caution over any swift return to the Middle Eastern tradelane. Yesterday, the Houthis officially announced that they have paused maritime attacks on Israel and lifted their so-called naval blockade on Israeli ports. This announcement appeared at the end of a…

  • JME returns to New Dayang for another bulker newbuild

    JME returns to New Dayang for another bulker newbuild Greek owner JME Navigation has returned to China’s New Dayang Shipbuilding for another ultramax bulker, continuing a fleet expansion drive that has gathered pace over the past two years. The shipbuilding arm of state-run machinery manufacturer Sumec Group has been contracted to build one Crown 63…

  • United Maritime locks in fresh fixtures amid firming dry bulk market

    United Maritime locks in fresh fixtures amid firming dry bulk market United Maritime has lined up new employment for its bulk carriers as it positions for a stronger fourth quarter and a firmer outlook for panamax and kamsarmax earnings. The Nasdaq-listed Greek owner, led by Stamatis Tsantanis (pictured), said it has secured new charter deals…

  • Houthis signal end to Red Sea attacks as shaky ceasefire holds

    Houthis signal end to Red Sea attacks as shaky ceasefire holds The Houthis have officially announced that they have paused maritime attacks on Israel and lifted their so-called naval blockade on Israeli ports. This announcement appeared at the end of a letter (pictured below) sent to Hamas’s military wing, Kata’ib al-Qassam, by the newly appointed…

  • ‘Ambition is not yet reaching the fixture desk’: RightShip warns of reward deficit for responsible owners

    ‘Ambition is not yet reaching the fixture desk’: RightShip warns of reward deficit for responsible owners A new 37-page report published today by vetting specialist RightShip makes clear the growing frustration among owners who invest in safer, greener operations yet see little commercial recognition for it, with just 27% of charterers polled saying they offer…

  • Newbuild bulker design to lock away carbon at sea

    Newbuild bulker design to lock away carbon at sea Climate-tech start-up Calcarea and Dutch naval architect Aurelia Design have joined forces to develop a commercial ship design integrating ocean-based carbon capture technology. The partnership will combine Calcarea’s limestone weathering system — a process that removes CO₂ by accelerating its natural reaction with seawater and limestone…

  • Diana Shipping clinches capesize charter upgrade with Norden

    Diana Shipping clinches capesize charter upgrade with Norden Greek bulker owner Diana Shipping has locked in a fresh charter for its 2015-built capesize Santa Barbara at a higher rate with Danish shipowner and operator Norden. The 179,426 dwt vessel will earn $25,500 per day, minus 5% commission, for a period running from a minimum of…

  • Splash Wrap: Pirates, crews and cyberstorms

    Splash Wrap: Pirates, crews and cyberstorms Compared to recent months, geopolitics did not muscle into many Splash headlines this week, the final days of the tit-for-tat port fees levied by the US and China, which are set to come to an end on Monday. The most shocking news came from the Horn of Africa, where…

  • Wreck of WWI armed merchant cruiser located off Scotland

    Wreck of WWI armed merchant cruiser located off Scotland Will Xavier Go to baird maritime

  • 13 deaths worldwide involving EU ships reported in 2024

    13 deaths worldwide involving EU ships reported in 2024 Gareth Havelock Go to baird maritime

  • Geneva Dry: Coal’s wildcard role

    Geneva Dry: Coal’s wildcard role Geneva Dry, the world’s premier commodities shipping conference, is set to return to the Hotel President Wilson on the shore of Lake Geneva on April 28 and 29 next year with many of dry bulk’s biggest names set to take the stage. As well as tech-focused panels, organisers have created…

  • Norden extends partnership with wood pellet maker Enviva

    Norden extends partnership with wood pellet maker Enviva Danish shipowner Norden has signed a new two-year contract of affreightment with US-based wood pellet producer Enviva, covering shipments from the US to Europe starting in 2026. Under the agreement, Norden will carry multiple handysize cargoes of wood pellets from loading ports along the US East and…

  • Diana Shipping nets $12.5m from fresh MOL and Bunge charters

    Diana Shipping nets $12.5m from fresh MOL and Bunge charters Greek dry bulk owner Diana Shipping has sealed a fresh charter deal with MOL Ocean Bulk and extended another with Bunge, adding up to around $12.5m in gross revenue for the two vessels. The New York-listed company said it fixed its 2012-built 206,104 dwt newcastlemax…

  • Fujian Guohang drops two bulker orders at Jiangsu Haitong

    Fujian Guohang drops two bulker orders at Jiangsu Haitong Chinese bulker owner Fujian Guohang Ocean Shipping has scrapped plans to build two 73,800 dwt bulk carriers at Jiangsu Haitong Offshore Engineering Equipment, saying the ships no longer fit its strategic direction. The Beijing Stock Exchange-listed company’s board approved the decision to terminate the construction contract,…

  • 11 rescued after cargo ship collides with two fishing boats off Vietnam

    11 rescued after cargo ship collides with two fishing boats off Vietnam Jens Karsten Go to baird maritime

  • Norden names new dry cargo head

    Norden names new dry cargo head Danish shipowner and operator Norden has named Christian Antonsen as its new head of dry cargo in the freight services and trading division. Antonsen joins from agricultural giant Archer Daniels Midland (ADM), where he currently serves as global ocean freight director, chartering. His career has also included stints at…

  • Maritime CEO Forum Monaco: Bulk leaders navigate China, tariffs and technology shifts

    Maritime CEO Forum Monaco: Bulk leaders navigate China, tariffs and technology shifts At the Maritime CEO Forum at the Yacht Club de Monaco, five of the dry bulk sector’s best-known names gathered to dissect a market that continues to defy easy prediction. Moderated by Tim Huxley, CEO of Mandarin Shipping, the discussion swung between bullish…

  • Ebe breaks new ground with Chinese newcastlemax order

    Ebe breaks new ground with Chinese newcastlemax order Belgian shipowner Ebe has placed its first-ever shipbuilding order in China, marking a return to the large bulker segment after nearly a decade. The Basile Aloy-led company has ordered two firm plus one optional 210,000 dwt ammonia-ready newcastlemax bulk carriers at Qingdao Beihai Shipbuilding, with delivery of…

  • SeaTrek joins forces with Legasea to expand dry bulk business

    SeaTrek joins forces with Legasea to expand dry bulk business Singapore-based dry bulk operator SeaTrek has entered a strategic partnership with Legasea, a fellow freight player backed by a private investment fund, to strengthen their position in the global dry bulk market. The tie-up brings together SeaTrek’s market experience and network with Legasea’s freight platform,…

  • Capital Maritime adds capesize brace to expanding Chinese orderbook

    Capital Maritime adds capesize brace to expanding Chinese orderbook Greek shipowner Evangelos Marinakis is extending his shipbuilding campaign into the dry bulk sector, with his Capital Maritime & Trading placing an order for two capesize bulk carriers at China’s Hengli Shipbuilding. Several shipbuilding sources confirmed the deal, saying delivery of the 180,000 dwt units is…

  • Tanker rates poised to close 2025 with best year in a decade

    Tanker rates poised to close 2025 with best year in a decade The year 2025 is shaping up to be the best year for tankers in a decade, according to analysis carried in the October issue of Splash Extra, now available to read for free.  Year-to-date average VLCC earnings of $44,279 are the best since…

  • Monaco owner Transocean breaks into boxships with newbuilds in China

    Monaco owner Transocean breaks into boxships with newbuilds in China Monaco-headquartered Transocean Maritime Agencies has been revealed as the buyer behind an order for containership newbuildings in China, marking the company’s latest fleet expansion and its first step into the box segment. Industry sources and shipbuilding databases show Transocean has contracted two 1,930 teu vessels…

  • Queue times for commodity vessels off Chinese ports hit highs not seen since 2022

    Queue times for commodity vessels off Chinese ports hit highs not seen since 2022 Xi Jinping’s meeting with Donald Trump in South Korea later this week cannot come soon enough to smooth troubled commodity supply chains with vessels backing up off China on a scale not seen for years.  Queue times for commodity vessels off…

  • Port fees: from temporary problem to structural risk to trade?

    Port fees: from temporary problem to structural risk to trade? Sagitta Marine managing director Thomas Zaidman on what happens if fair and unimpeded port access becomes a tool of trade policy. After decades lying in the long grass, geopolitical forces have re-emerged as a key operational risk. This is not to say that politicians especially…

  • Jinhui clears out another ageing supramax

    Jinhui clears out another ageing supramax Oslo-listed Jinhui Shipping and Transportation has sold another of its older supramax bulk carriers as part of its ongoing fleet renewal drive. The Hong Kong-based owner said it agreed to dispose of a 2012-built, 56,469-dwt Jin Mao for $13.2m to China’s New Unite Marine. The vessel, built at Jiangsu…

  • Huarong Leasing lines up newcastlemax newbuild brace

    Huarong Leasing lines up newcastlemax newbuild brace China’s Huarong Financial Leasing has signed up for two newcastlemax bulk carriers at Taizhou Kouan Shipbuilding, marking its first newbuilding move in the segment and a rare order for the yard. The leasing company said the 210,000 dwt newbuildings will cost $71m apiece, with delivery likely scheduled for…

  • Why realism, not rhetoric, will drive shipping’s path to net zero

    Why realism, not rhetoric, will drive shipping’s path to net zero Philippos Ioulianou, managing director of EmissionLink, writes for Splash today. The decision by the International Maritime Organization to delay the Net-Zero Framework by a year has exposed deep divisions. What should have been a coordinated global effort toward decarbonisation has resulted in paralysis at…

  • Oceanbulk linked to boxships comeback

    Oceanbulk linked to boxships comeback Greek shipowner Petros Pappas is edging back into the container market, with his privately held firm Oceanbulk reportedly striking a deal for a pair of feeder newbuildings in China. Shipbuilding and market sources have tied Oceanbulk to a contract for two 3,100 teu boxships at Zhoushan Changhong International Shipyard, priced…

  • How geopolitics is redrawing the world’s shipping routes

    How geopolitics is redrawing the world’s shipping routes Globalisation isn’t dead, but it’s changing course, writes Neil Shearing, group chief economist at Capital Economics, and author of this year’s bestseller The Fractured Age. Commentators have been quick to declare globalisation dead. But, as is so often the case in economics, the reality is more complicated…

  • Alberta Shipmanagement makes boxship debut with Chinese newbuild order

    Alberta Shipmanagement makes boxship debut with Chinese newbuild order Greek owner Alberta Shipmanagement has made its first move into the containership sector, joining a growing number of traditional tanker and bulker players diversifying their fleets. Industry databases show the Athens-based company has ordered two 1,930 teu vessels at CSSC Guangzhou Huangpu Wenchong Shipbuilding, with deliveries…

  • Greek owners Eastmed and Seanergy turn to China’s Hengli for bulker newbuilds

    Greek owners Eastmed and Seanergy turn to China’s Hengli for bulker newbuilds Two Greek shipowners have placed fresh orders in China as Hengli Heavy Industries continues to build its orderbook with European tonnage. The Dalian-based shipyard confirmed contracts for five bulk carriers worth around $211m from US-listed Seanergy Maritime and Eastern Mediterranean Maritime (Eastmed). Seanergy,…

  • ORIX steps in to save Japan’s greying shipowning class

    ORIX steps in to save Japan’s greying shipowning class Japan is well known for its acute demographic timebomb. More than 29% of its population is aged 65 or older — the highest proportion globally — while the birth rate continues to fall, reaching a record low in 2024. The working-age population is shrinking rapidly, straining…

  • 2020 Bulkers banks $72m as fleet sell-off rolls on

    2020 Bulkers banks $72m as fleet sell-off rolls on Oslo-listed 2020 Bulkers has extended its fleet sell-off with the disposal of another newcastlemax bulker. The Norwegian owner, set up by Tor Olav Trøim, said it has agreed to sell the 2020-built 208,000 dwt Bulk Sao Paulo for $72.75m to an undisclosed buyer. The company will…

  • CMB.TECH continues fleet renewal with fresh sales

    CMB.TECH continues fleet renewal with fresh sales Belgium’s CMB.TECH has pushed ahead with its fleet renewal strategy, confirming disposals in wet and dry secondhand markets, while adding new tonnage across multiple segments. The Antwerp-based shipowner confirmed the sale of the 2007-built 306,543 dwt VLCC Dalma for a reported $48m after passing dry dock. The deal,…

  • Huayuan Star orders methanol-ready kamsarmax brace

    Huayuan Star orders methanol-ready kamsarmax brace China’s Huayuan Star Shipping has turned to the newbuilding market to expand its fleet with an order for two kamsarmax bulk carriers at compatriot yard Jiangsu Haitong Offshore Engineering Equipment. A signing ceremony was recently held in Shanghai to formalise the deal. The 85,000 dwt vessels are scheduled for…

  • China, US port fees disrupt cargo flows, push up rates

    China, US port fees disrupt cargo flows, push up rates Reuters Go to baird maritime

  • IMO fails to agree Net-Zero Framework, pushes talks to 2026

    IMO fails to agree Net-Zero Framework, pushes talks to 2026 Negotiations at the International Maritime Organization (IMO) have broken down without agreement on the Net-Zero Framework, leaving the shipping industry facing another year of uncertainty over how its decarbonisation will be regulated. Delegates at the Marine Environment Protection Committee’s extraordinary session in London voted to…

  • Navios Partners nets $69m from vessel sales as it boosts charter cover

    Navios Partners nets $69m from vessel sales as it boosts charter cover Greece’s Navios Maritime Partners has sold three older vessels — including one of its oldest VLCCs — as part of its fleet renewal programme, while adding a newly built product tanker and fixing several ships on new charters. The Angeliki Frangou-led, New York-listed…

  • Yang Ming’s dry bulk arm readies four newbuilds in fleet renewal push

    Yang Ming’s dry bulk arm readies four newbuilds in fleet renewal push Kuang Ming Shipping, the dry bulk subsidiary of Taiwan’s Yang Ming Marine Transport, is returning to the newbuilding market with plans approved to order four vessels. The newbuilds, sized between 45,000 and 69,999 dwt, will be capable of transporting major bulks such as…

  • Pacific Basin shifting half of bulker fleet to Singapore to limit US port fee exposure

    Pacific Basin shifting half of bulker fleet to Singapore to limit US port fee exposure Hong Kong-listed Pacific Basin Shipping is moving half of its bulker fleet to Singapore and reflagging vessels under its Singapore entity to reduce exposure to new US port fees introduced under the USTR Section 301 scheme. The move comes after…

  • Panamax boxship hit with $1.7m Shanghai fee as China’s new port levies bite

    Panamax boxship hit with $1.7m Shanghai fee as China’s new port levies bite $1.7m. That’s the fee – or RMB12.1m – that the German owners of the US-flagged Matson Waikiki are being forced to pay to allow the vessel to dock in Shanghai, a sizeable sum, and an indication of the chaos, and costs, that…

  • Shandong Ocean Shipping bets on capesize segment with two Hengli newbuilds

    Shandong Ocean Shipping bets on capesize segment with two Hengli newbuilds China’s Shandong Ocean Shipping Group is expanding into the capesize bulker segment with a pair of newbuildings. The maritime logistics arm of Shandong Port Group has returned to Hengli Shipbuilding for the 181,000 dwt vessels as part of a strategic push to strengthen its…

  • IMO’s green dream meets America’s red line

    IMO’s green dream meets America’s red line While the majority of opening statements at yesterday’s opening of the latest Marine Environment Protection Committee (MEPC) were broadly in favour of the International Maritime Organization’s (IMO) Net-Zero Framework (NZF), the US delegation stood out once again for its outspoken opposition to the proposed green legislation. The American…

  • Cargo ship sinks in Black Sea off Bulgaria; all 10 crew rescued

    Cargo ship sinks in Black Sea off Bulgaria; all 10 crew rescued Jens Karsten Go to baird maritime

  • Dry Cargo Vessel News Roundup | October 14 – Dutch, Saudi and Japanese bulkers plus German heavy lift ship orders

    Dry Cargo Vessel News Roundup | October 14 – Dutch, Saudi and Japanese bulkers plus German heavy lift ship orders Baird Maritime Go to baird maritime

  • Oldendorff and Salzgitter target 20% emission cut in iron ore shipments

    Oldendorff and Salzgitter target 20% emission cut in iron ore shipments German shipowner Oldendorff Carriers and fellow steelmaker Salzgitter have signed a long-term deal to lower carbon emissions from the seaborne transport of iron ore to Hamburg. Starting in January 2026, Oldendorff will deploy fuel-efficient bulk carriers to move iron ore from various loading ports…

  • US eases some penalties tied to foreign-built ships, toughens others

    US eases some penalties tied to foreign-built ships, toughens others Reuters Go to baird maritime

  • US proposes visa restrictions, sanctions against UN members that back IMO’s net zero delusion

    US proposes visa restrictions, sanctions against UN members that back IMO’s net zero delusion Reuters Go to baird maritime

  • ESL Shipping sells handysize bulker to support fleet renewal

    ESL Shipping sells handysize bulker to support fleet renewal ESL Shipping, part of Finnish conglomerate Aspo, has sold the 21,353 dwt handysize bulker Kallio to the Qrill Company. The company stated that divesting the 2006-built vessel would help to speed up the green transition of ESL Shipping and strengthen the financing of the new vessels…

  • MOL’s 98% methane slip cut hands LNG a lifeline ahead of key IMO showdown

    MOL’s 98% methane slip cut hands LNG a lifeline ahead of key IMO showdown Japan’s Mitsui OSK Lines (MOL) has achieved a 98% reduction in methane slip during sea trials — a leap that could reshape the emissions profile of LNG-fuelled tonnage ahead of next week’s Marine Environment Protection Committee meeting at the International Maritime…

  • USTR fees could impact 35% of key sectors’ ships: BIMCO

    USTR fees could impact 35% of key sectors’ ships: BIMCO When fees from the Office of the United States Trade Representative (USTR) targeting Chinese dominance of the maritime sector come into effect next week on October 14, 35% of ships in the combined bulk, crude tanker, product tanker and container fleet could be subject to…

  • Spliethoff reports death of cargo ship crewman from injuries sustained in Houthi attack

    Spliethoff reports death of cargo ship crewman from injuries sustained in Houthi attack Jens Karsten Go to baird maritime

  • US unveils payment rules for new China vessel fees

    US unveils payment rules for new China vessel fees US Customs provided over the weekend more details about the upcoming hiked port fees for Chinese-linked tonnage, due to come into effect next week. The notice makes clear: the burden for determining liability lies squarely with the vessel operator, not US Customs. Vessels failing to show…

  • Total lack of safety culture laid bare in Wakashio disaster

    Total lack of safety culture laid bare in Wakashio disaster Mauritius has finally published the long-suppressed Court of Investigation report into the 2020 grounding of the Wakashio. The findings are damning — exposing what investigators call a “total lack of safety culture on board the Wakashio,” a disaster born from distraction, negligence, and systemic oversight…

  • World’s first hydrogen-powered bulk carriers to feature Swedish fuel cells

    World’s first hydrogen-powered bulk carriers to feature Swedish fuel cells PowerCell, a Swedish supplier of fuel cells for the marine market, has secured a contract worth just over SEK40m ($4.25m) to supply the fuel cell systems for two hydrogen-powered bulk carriers. The order includes 14 of PowerCell’s Marine System 225 units, providing over 3 MW…

  • Bahri orders six ultramaxes at IMI

    Bahri orders six ultramaxes at IMI Saudi shipowner Bahri has firmed up an order for six geared ultramax bulk carriers at International Maritime Industries (IMI), marking the first bulk carrier newbuilding deal for the Ras Al-Khair yard. The company said in a Tadawul filing that the 62,823 dwt vessels will cost around $203m in total,…

  • CMT adds pair of newcastlemax orders at Qingdao Beihai

    CMT adds pair of newcastlemax orders at Qingdao Beihai Taiwan’s Chinese Maritime Transport (CMT) has returned to China State Shipbuilding Corporation’s Qingdao Beihai yard with an order for two newcastlemax bulk carriers. The Taipei-listed owner confirmed it will pay between $76m and $79.8m per 210,000 dwt vessel. Deliveries have not yet been disclosed. The order…

  • Genco adopts poison pill to limit hostile takeovers

    Genco adopts poison pill to limit hostile takeovers US-based dry bulk owner Genco Shipping & Trading has adopted a limited-duration shareholder rights plan designed to prevent a takeover of the company. The rights plan is effective immediately and has a one-year duration expiring on September 30, 2026. Pursuant to the plan, Genco will issue one right…

  • South Korean authorities detain Russian-flagged ship for causing oil spill

    South Korean authorities detain Russian-flagged ship for causing oil spill Jens Karsten Go to baird maritime

  • Jinhui returns to newbuild market with $99m ultramax trio

    Jinhui returns to newbuild market with $99m ultramax trio Jinhui Shipping and Transportation has booked three new ultramax bulk carriers at a Chinese yard, marking its latest step in a fleet renewal drive. The Oslo-listed owner has committed $99.15m at Jiangmen Nanyang Ship Engineering for 64,500 dwt vessels due for delivery in the first quarter…

  • Seanergy and United Maritime cash in on vintage capes

    Seanergy and United Maritime cash in on vintage capes Greek bulker owners Seanergy Maritime and United Maritime have completed sales of aging capesize vessels, banking profits and cutting fleet exposure to older tonnage. Seanergy confirmed the sale of the 2010-built Geniuship to an undisclosed buyer for $21.6m. The 170,057 dwt vessel, acquired in 2015, was…

  • Diana Shipping doubles down on Genco stake with $103m outlay

    Diana Shipping doubles down on Genco stake with $103m outlay Greek dry bulk owner Diana Shipping has lifted its holding in New York-listed peer Genco Shipping & Trading to nearly 15%, becoming the company’s largest known shareholder. Regulatory filings show the Semiramis Paliou-led owner spent about $103.5m between late April and the end of September…

  • Costamare and Cargill set course for joint dry bulk ventures

    Costamare and Cargill set course for joint dry bulk ventures Costamare Bulkers has signed a wide-ranging cooperation agreement with Cargill, shifting focus toward steadier earnings while deepening ties with one of the dry bulk sector’s largest charterers. The New York-listed Greek owner said the deal includes transferring to Cargill most of its trading book, covering…

  • 2020 Bulkers cuts feet in half with $209m newcastlemax sale

    2020 Bulkers cuts feet in half with $209m newcastlemax sale Norwegian shipowner 2020 Bulkers has agreed to sell three of its scrubber-fitted newcastlemax vessels for a combined $209m. The Oslo-listed company confirmed the sale of the 2019-built Bulk Sandefjord and Bulk Santiago, along with the 2020-built Bulk Shenzhen, to an unnamed third party. All three…

  • Petter Mowinckel steps up to lead Kristian Gerhard Jebsen Skipsrederi

    Petter Mowinckel steps up to lead Kristian Gerhard Jebsen Skipsrederi Norwegian shipowner Kristian Gerhard Jebsen Skipsrederi (KGJS) has appointed Petter Mowinckel as chief executive officer, effective 1 October 2025. Mowinckel, who joined the Bergen-based company in August 2024 as chief commercial officer, succeeds Ørjan Lunde. Lunde stepped down earlier this year and has since rejoined…

  • Coal trade faces rare back-to-back decline

    Coal trade faces rare back-to-back decline Global coal trade is forecast to shrink in 2025, the first drop since the covid-19 shock of 2020, with another fall expected in 2026. If confirmed, this would be the first consecutive two-year decline in seaborne coal trade in the 21st century, according to analysis by The Signal Group…

  • UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty

    UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty Global shipping is entering a period of fragile growth, rising costs and mounting uncertainty, according to The Review of Maritime Transport 2025 released yesterday by UN Trade and Development (UNCTAD). After firm growth last year, seaborne trade is expected to stall in…

  • Chinese authorities call off search for missing crew of capsized cargo ship

    Chinese authorities call off search for missing crew of capsized cargo ship Jens Karsten Go to baird maritime

  • Bulker crew stranded in Nigeria without pay for three months

    Bulker crew stranded in Nigeria without pay for three months The crew of the 2008-built bulker Eleen Armonia has been stranded in Nigeria for more than three months without receiving salaries. According to an email sent to Splash from a crew representative, many crew contracts have already expired, but the owner of the Liberian-flagged vessel…

  • Diana Shipping charters out kamsarmax to NYK Line

    Diana Shipping charters out kamsarmax to NYK Line Greek bulker owner Diana Shipping has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha (NYK Line) for one of its kamsarmax dry bulk vessels. The company hired the 2014-built, 82,165 dwt bulker Leonidas P. C. The gross charter rate is $14,000 per day, minus…

  • Vogemann linked to six kamsarmaxes at Hengli Heavy

    Vogemann linked to six kamsarmaxes at Hengli Heavy German shipowner Vogemann has reportedly returned to China for another round of bulk carrier newbuildings, with reports linking the Hamburg-based company to a fresh series of kamsarmax orders at Hengli Heavy Industries in Dalian. Shipbroking and market sources suggest Vogemann has committed to six 82,000 dwt vessels…

  • Surging VLCC rates propel ClarkSea Index to two-year high

    Surging VLCC rates propel ClarkSea Index to two-year high Surging VLCC rates have seen the cross-sector ClarkSea Index, a weighted average of tanker, bulk carrier, containership, and gas carrier earnings managed by Clarksons Research, reach a two-year high of $29,888 per day as of last Friday, 50% above the 10-year trend. VLCC rates leapt last…

  • Vehicle shipping player Polaris launches dry bulk arm

    Vehicle shipping player Polaris launches dry bulk arm Polaris International is diversifying its shipping portfolio with the official entry into the dry bulk market and the launch of Polaris Bulkers The move marks a strategic expansion for Polaris, best known for its automotive logistics division, Polaris Autoliners. The new dry bulk venture will operate out…

  • Leadership handover at Pangaea as long-serving CEO Filanowski retires

    Leadership handover at Pangaea as long-serving CEO Filanowski retires Newport-based Pangaea Logistics Solutions has confirmed a leadership transition with CEO Mark Filanowski stepping down at the turn of the year after more than a decade at the helm. Chief operating officer Mads Petersen will take over as president and CEO from January 1, 2026. Filanowski,…

  • China State Shipbuilding Corporation wraps up merger with CSIC

    China State Shipbuilding Corporation wraps up merger with CSIC Jens Karsten Go to baird maritime

  • EuroDry sheds 21-year-old panamax

    EuroDry sheds 21-year-old panamax Nasdaq-listed Greek dry bulk owner EuroDry has sold one of its panamax vessels to an undisclosed buyer. The Aristides Pittas-led company said that it signed an agreement to sell the 2004-built 76,466 dwt Eirini P. bulker to an unaffiliated third party. According to the company, the vessel was sold for approximately…

  • HMM signs long-term contract with Vale

    HMM signs long-term contract with Vale HMM has signed a long-term contract of affreightment (COA) with Brazil’s Vale, valued at KRW430bn ($309m). This is the second contract signed between the two companies, following a KRW 636bn, 10-year deal concluded in May. Under the new agreement, HMM will transport iron ore using five bulk carriers over…

  • Korea Shipowners’ Association hits out at POSCO’s HMM takeover plans

    Korea Shipowners’ Association hits out at POSCO’s HMM takeover plans The Korea Shipowners’ Association has hit out at reports the country’s top steel mill is being linked with taking over national flagship, HMM. Splash reported last week that advisors from Samil PwC and Boston Consulting Group have been working with POSCO on feasibility studies for…

  • Foreign cargo ship detained in Germany over espionage allegations

    Foreign cargo ship detained in Germany over espionage allegations Gareth Havelock Go to baird maritime

  • Turkey’s GSD Marin returns to Japan for fresh ultramax order

    Turkey’s GSD Marin returns to Japan for fresh ultramax order Turkish bulker owner GSD Marin has returned to Japan for another ultramax order, signing a deal with Nihon Shipyard for a 64,000 dwt newbuild due in 2029. The Istanbul-listed subsidiary of GSD Holding already has a similar ship on order at the same yard, a…

  • Anglo Teck merger creates top five global copper producer

    Anglo Teck merger creates top five global copper producer Global mining group Anglo American and Canadian miner Teck Resources have agreed to merge in a deal that will create one of the world’s largest copper producers with a combined market value of over $53bn. The combined group, to be named Anglo Teck, will rank among…

  • British Virgin Islands maritime authority expands vessel flagging access to over 75 Jurisdictions

    British Virgin Islands maritime authority expands vessel flagging access to over 75 Jurisdictions Gareth Havelock Go to baird maritime

  • Jinhui continues supramax selloff

    Jinhui continues supramax selloff Oslo-listed Jinhui Shipping and Transportation has struck a deal to sell the 2008-built supramax bulker Jin Rong for $11.93m, continuing its clear-out of older tonnage. The 58,700 dwt vessel, built at Tsuneishi Cebu in the Philippines, is heading to Hong Kong-registered Liuliu Shun Shipping. The sale is slated to close by…

  • 30-ton hatch recovered from coal ship explosion in Baltimore

    30-ton hatch recovered from coal ship explosion in Baltimore Baltimore’s shipping traffic was disrupted for nearly a week after an explosion on a fully laden coal carrier in the Patapsco River forced the recovery of a massive 30-ton hatch from the harbour. The 81,681 dwt W-Sapphire, managed by Athens-based W Marine and flagged in Liberia,…

  • Mibau Stema grows bulker fleet backed by Hartmann-CSL venture

    Mibau Stema grows bulker fleet backed by Hartmann-CSL venture Denmark-based Mibau Stema Group has signed up for two new self-unloading bulk carriers at Chengxi Shipyard in China. These newbuilds will be constructed to be biofuel- and methanol-ready as part of Mibau Stema’s strategic goal to enhance transport capabilities, increase operational versatility, and transition towards more…

  • Himalaya switches newcastlemax brace to fixed deals

    Himalaya switches newcastlemax brace to fixed deals Himalaya Shipping is continuing its shift from index-linked earnings, converting two more newcastlemaxes to fixed-rate charters. The Tor Olav Troim-backed, Oslo-listed owner said the vessels will move onto fixed hire from October 1 until the end of the year. The two dual-fuel ships will earn an average of…

  • Carriers reroute fleets to sidestep US levy

    Carriers reroute fleets to sidestep US levy Global shipping is realigning fleets in anticipation of October’s extra port fees to be levied by the US on China-linked tonnage. This is already being reflected in chartering decisions for transatlantic tanker and dry bulk fixtures with Chinese-built tonnage shifting to other parts of the globe. In the…

  • Shipping and mining powerhouses locked in for iron ore finale at Geneva Dry 2026

    Shipping and mining powerhouses locked in for iron ore finale at Geneva Dry 2026 Panels are beginning to coalesce for next April’s Geneva Dry, the world’s premier commodities shipping conference. As in past editions, the two-day event will close with a very high level session on iron ore, the largest shipped dry bulk commodity, with…