Category: Dry Cargo
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US and China agree to slash tariffs
US and China agree to slash tariffs In a significant curtailment of the trade war between the world’s two largest economies, the United States and China have agreed to considerably slash tariffs for the next 90 days. As part of the deal reached in Geneva over the weekend, US Treasury Secretary Scott Bessent said both countries…
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How tariffs have already reshaped minor bulk trade flows
How tariffs have already reshaped minor bulk trade flows Tariffs, increasing stem sizes and changing trade patterns formed much of the debate at the Minor Bulks session at this year’s packed Geneva Dry summit. Wlillem Vermaat, shipping director at Heidelberg Materials Trading, the second largest cement producer globally, noted that commodity trade flows tend to…
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Australian authorities rescue boaters from distressed yacht in Coral Sea
Australian authorities rescue boaters from distressed yacht in Coral Sea Will Xavier Go to baird maritime
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Erik Thun Group’s newest ice-capable cargo ship hits the water
Erik Thun Group’s newest ice-capable cargo ship hits the water Jens Karsten Go to baird maritime
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Dry bulk’s long path towards decarbonisation
Dry bulk’s long path towards decarbonisation Low-hanging fruit and the ramifications of what was agreed at last month’s Marine Environment Protection Committee (MEPC) gathering at the International Maritime Organization formed much of the discussion during the Dry Decarbonisation panel moderated by Lloyd’s Register’s Nikos Kakalis at last week’s Geneva Dry summit. Massimo Giovannini, managing partner…
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Newcleo and Fincantieri unveil lead-cooled fast nuclear reactor for maritime applications
Newcleo and Fincantieri unveil lead-cooled fast nuclear reactor for maritime applications Rafael Sanches Go to baird maritime
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Fred. Olsen Express adds new cargo ship to La Palma connection
Fred. Olsen Express adds new cargo ship to La Palma connection Alan Bosworth Go to baird maritime
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FEATURE | Is the US considering a new ship registry in the US Virgin Islands?
FEATURE | Is the US considering a new ship registry in the US Virgin Islands? Reuters Go to baird maritime
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Costamare ships out 15-year-old handy
Costamare ships out 15-year-old handy New York-listed Greek owner Costamare has continued the trend of offloading smaller bulkers with another handysize set to exit the fleet. The Konstantinos Konstantakopoulos-led company is shipping out the 2010-built 31,775 dwt Resource, with delivery to an undisclosed new owner expected during the second quarter. Costamare bought the ship in…
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Baltic index falls as Capesize segment declines
Baltic index falls as Capesize segment declines Reuters Go to baird maritime
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Pyxis Tankers lines up funds for fleet growth
Pyxis Tankers lines up funds for fleet growth Greek owner Pyxis Tankers has set out to potentially expand its fleet by up to two ships with the signing of a commitment letter for a bank loan of up to $45m. The Nasdaq-listed firm said it is eyeing modern product tankers between 45,000 dwt and 115,000…
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How rising demand for electric vehicles is changing the face of dry bulk
How rising demand for electric vehicles is changing the face of dry bulk All week, Splash will be bringing readers reports from Geneva Dry, the world’s premier commodities shipping conference, which took place on April 28 and 29 with more than 820 delegates in attendance. Today’s panel in focus features a brand new slot: EVs…
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Premuda seals management buyout
Premuda seals management buyout Italian tanker and bulker owner and operator Premuda has concluded a management buyout led by its top executives. The deal spearheaded by chief executive Marco Fiori and chief of finance Enrico Barbieri has seen the acquisition of 100% of the share capital in the Genoa-based company for an undisclosed sum. The…
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Port Canaveral to invest $500m in facilities upgrades
Port Canaveral to invest $500m in facilities upgrades Jens Karsten Go to baird maritime
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Quebec grain terminal changes hands
Quebec grain terminal changes hands Parrish & Heimbecker, a Canadian, a family-owned agri-business, has acquired a deepwater bulk marine export terminal in Quebec City from Societe En Commandite Terminal Grains, which has been operated by Sollio Agriculture since 2021. “The addition of a Quebec City terminal is a strong fit for our long-term growth strategy,”…
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Norden presses on with bulker flipping
Norden presses on with bulker flipping Danish shipping giant Norden has bagged another bulker sale after taking a purchase option on chartered-in tonnage. The Jan Rindbo-led owner and operator said it had offloaded an unnamed, previously leased handysize for an undisclosed sum in a deal that follows two similar, recently carried out asset plays. Earlier…
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Dry Cargo Vessel News Roundup | April 29 – Russian multi-purpose ships, Chinese car carriers and more
Dry Cargo Vessel News Roundup | April 29 – Russian multi-purpose ships, Chinese car carriers and more Baird Maritime Go to baird maritime
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Second edition of Geneva Dry opens today
Second edition of Geneva Dry opens today The second edition of Geneva Dry, the world’s premier commodities shipping conference, opens today with a record attendance and delegates keen to hear what’s in store for the global trade outlook in the coming 12 months following a turbulent start to 2025. With 819 registered delegates, organisers had…
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Trump says US ships should be allowed to travel through the Panama and Suez canals for free
Trump says US ships should be allowed to travel through the Panama and Suez canals for free Reuters Go to baird maritime
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Russian dry cargo ship Leonid Bagrov sails on maiden voyage
Russian dry cargo ship Leonid Bagrov sails on maiden voyage Jens Karsten Go to baird maritime
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US State Department guts activist-captured climate office, revamps energy bureau
US State Department guts activist-captured climate office, revamps energy bureau Reuters Go to baird maritime
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Spire Maritime acquired by Kpler
Spire Maritime acquired by Kpler Alan Bosworth Go to baird maritime
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Taylor Maritime offloads 11 ships
Taylor Maritime offloads 11 ships London-listed dry bulk outfit Taylor Maritime has aligned its business with anticipated trade turbulence and taken advantage of improved market sentiment to sell 11 ships for $172.5m. The Ed Buttery-led company said that one bulker had already been delivered to its new owner, with the remaining 10 exiting the fleet…
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Pakistan ceases all trade with India
Pakistan ceases all trade with India Pakistan has suspended all trade with India and closed its airspace and land border. The measures follow the imposition of sanctions imposed by India after an attack in Indian-administered Kashmir that killed 26 people on Tuesday. The last six months saw 520 port calls of vessels between Pakistan and…
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CMB.TECH and Golden Ocean merging to create fleet of more than 250 ships
CMB.TECH and Golden Ocean merging to create fleet of more than 250 ships Belgium’s CMB.TECH and one of Europe’s largest dry bulk owners, Golden Ocean, have signed a term sheet for a stock-for-stock merger that will create a maritime giant with a combined fleet of more than 250 vessels. Under the agreement, unanimously approved by…
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Seacon orders ultramax bulker at Tsuneishi Zhoushan
Seacon orders ultramax bulker at Tsuneishi Zhoushan Hong Kong-listed Secon Shipping is growing its dry bulk fleet with an ultramax newbuilding at Tsuneishi Zhoushan Shipbuilding. The Qingdao-based owner and operator is paying $38.34m to see the Tsuneishi-controlled Chinese yard, in which Yangzijiang Shipbuilding also holds a 34% stake, deliver the 63,300 dwt vessel in April…
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Beijing vents fury at US port fees
Beijing vents fury at US port fees Shipping spent the weekend digesting the news from the US where watered down plans to charge China-linked ships extra for American port calls have created considerable outrage in Beijing and Hong Kong, while causing consternation for members of the Ocean Alliance, one of the big groupings in container…
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Desperate China threatens countries against striking deals with US at its expense
Desperate China threatens countries against striking deals with US at its expense Reuters Go to baird maritime
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“Extreme indignation!”: China’s state-supported shipbuilders in panic mode over Trump’s US port fees
“Extreme indignation!”: China’s state-supported shipbuilders in panic mode over Trump’s US port fees Reuters Go to baird maritime
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US unveils much-anticipated port call fees
US unveils much-anticipated port call fees The United States will impose fees on Chinese-built ships calling at American ports—regardless of ownership, in a ruling that the global shipping community has been waiting to hear about for months. The glimmer of good news for non-Chinese owners is that the final measure is less severe than the…
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Trump admin clarifies port fees on China-built ships, protects US exporters and shipowners
Trump admin clarifies port fees on China-built ships, protects US exporters and shipowners Reuters Go to baird maritime
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Trump’s tariffs crash world trade forecasts
Trump’s tariffs crash world trade forecasts Many of shipping’s go-to bodies for trade forecasts are now slashing economic predictions for the year ahead in the wake of Donald Trump’s tariff war. Creating significant alarm, the World Trade Organization (WTO) has warned global merchandise trade for 2025 could drop by as much as -1.5%, potentially becoming…
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Geneva Dry Dialogues: HarborLab
Geneva Dry Dialogues: HarborLab Antonis Malaxianakis, founder and CEO of HarborLab, a port cost management platform, is willing to do what few others in maritime tech dare – going public on return on investment (ROI) numbers, something he’ll also happily share with delegates attending Geneva Dry, due to open on April 28. HarborLab is an…
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Dry Cargo Vessel News Roundup | April 17 – UAE and Japanese car carriers, Chinese intelligent inland ship and more
Dry Cargo Vessel News Roundup | April 17 – UAE and Japanese car carriers, Chinese intelligent inland ship and more Baird Maritime Go to baird maritime
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Vertom seals 15-year deal for newbuild quartet
Vertom seals 15-year deal for newbuild quartet Dutch shipping group Vertom and Norway’s Strand Shipping have landed a 15-year charter deal with aquaculture feeds producer Skretting for four diesel-electric newbuilds. The vessels that will be deployed for the import of raw materials have been designed to reduce the environmental footprint of Skretting’s supply chain. The…
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Diana Shipping fixes out panamax to China Resource Chartering
Diana Shipping fixes out panamax to China Resource Chartering Greek bulker owner Diana Shipping has entered into a time charter contract with China Resource Chartering for one of its panamax vessels. The company hired the 2013-built, 77,901 dwt bulker Ismene. The gross charter rate is $11,000 per day, minus a 5% commission paid to third…
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NYK reveals new dry bulk player via triple merger
NYK reveals new dry bulk player via triple merger Japanese shipping line Nippon Yusen Kaisha (NYK) is rolling out a new player in the dry bulk sector through a merger of three of its shipping and shipmanagement subsidiaries. Asahi Shipping, Hachiuma Steamship and Mitsubishi Ore Transport are set to combine into NYK Bulkship Partners. The…
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Wisdom Marine ships out bulker brace
Wisdom Marine ships out bulker brace Taiwanese owner and operator Wisdom Marine has confirmed the sale of two Japanese-built bulkers for about $36m in total. The Taipei-based company is offloading the 2011 Shin Kasado Dock-built ultramax Amis Wisdom III and the 2015 Shimanami-built handysize Bunun Hero. The ultramax is going to China’s Arm Shipping for…
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Yangziyang Financial in bulker newbuilding move
Yangziyang Financial in bulker newbuilding move Yangzijiang Financial Holding has returned to Jingjiang Nanyang Shipbuilding with a newbuilding project in the handysize dry bulk segment. Shipbuilding sources have placed the Singapore-listed company behind an order for four firm 40,000 dwt vessels with delivery in 2027 and 2028. The spinoff of China’s largest private shipyard, Yangzijiang…
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CMT offloads bulker as fleet renewal rolls on
CMT offloads bulker as fleet renewal rolls on Taiwan’s Chinese Maritime Transport (CMT) is shipping out one of its large bulk carriers. The owner of 13 vessels spread across capesize and newcastlemax segments is selling an unnamed unit to Ever Prosperity Shipping in Singapore for $17.65m. The company’s fleet list and VesselsValue pricing data suggest…
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F. Laeisz revealed as Belships co-investor
F. Laeisz revealed as Belships co-investor German owner F. Laeisz has emerged as a co-investor in the takeover of Norwegian dry bulk player Belships. The Nikolaus Schües-led shipping group has snapped up a 25.01% stake in the ultramax specialist following the public takeover launched by asset management firm EnTrust Global and its vehicle Blue Northern.…
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North Korean iron ore shipments spark sanctions
North Korean iron ore shipments spark sanctions The government of South Korea has imposed sanctions on a non-flagged vessel the country seized for illegally transporting iron ore produced in North Korea. Sanctions were also imposed on two Chinese nationals, Sun Zhengzhe and Sun Feng, who operated the ship and Russian company LLC Consul DV, which…
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Tariffs on China set to dramatically alter US trade flows
Tariffs on China set to dramatically alter US trade flows Supply chain planners are busy booking shipments from non-Chinese destinations into the US today following last night’s tariff surrender by Donald Trump, the American president. Trump announced a 90-day pause for countries hit by higher US tariffs amid financial turmoil and a weakening dollar in…
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Trump signs US shipbuilding executive order, seeks to revitalize industry
Trump signs US shipbuilding executive order, seeks to revitalize industry Reuters Go to baird maritime
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US fights back against globalist/activist decarbonisation lunacy targeting shipping industry
US fights back against globalist/activist decarbonisation lunacy targeting shipping industry Reuters Go to baird maritime
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Western Bulk Chartering sells five-year-old ultramax
Western Bulk Chartering sells five-year-old ultramax Norwegian dry bulk operator Western Bulk Chartering has sold one of its ultramax vessels to an undisclosed buyer. The company said in an Oslo Bors filing that it sold the 2020-built, 63,500 dwt Western Fuji. The Norwegian firm claimed that it realised a net profit of approximately $1.5m, following…
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50+ nations fold immediately, seek Trump tariff negotiations
50+ nations fold immediately, seek Trump tariff negotiations Reuters Go to baird maritime
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Berge Bulk takes stake in Genco
Berge Bulk takes stake in Genco Singapore-based owner Berge Bulk has revealed a considerable ownership of stock in the US dry bulk player Genco Shipping & Trading. A filing to the US Securities and Exchange Commission showed that Berge Bulk’s vehicle Kibo Investment had picked up 3.13m shares in Genco, corresponding to a 7.3% stake.…
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Peder Simonsen made permanent CEO of Golden Ocean
Peder Simonsen made permanent CEO of Golden Ocean Peder Simonsen, the acting chief executive of bulker owner Golden Ocean, will continue in the role on a permanent basis. Golden Ocean’s chief of finance, Simonsen, was named interim CEO of the Nasdaq- and Oslo-listed owner of more than 80 bulkers last May when Lars-Christian Svensen decided…
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OPINION | Nowhere to hide: Trump tariffs leave trading partners cornered
OPINION | Nowhere to hide: Trump tariffs leave trading partners cornered Reuters Go to baird maritime
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Global shipping ‘stifled’ by Trump’s tariffs
Global shipping ‘stifled’ by Trump’s tariffs Shipping stocks remain under severe pressure today as the world comes to terms with the immensity of Wednesday’s tariff announcements from US president Donald Trump. The average US tariff rate has now been set at just under 25%, levels not seen since the 1930s and the days of the…
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China in a huff over latest US tariffs, vows retaliation
China in a huff over latest US tariffs, vows retaliation Reuters Go to baird maritime
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Nova Marine Carriers forms shipping venture with steelmaker Marcegaglia
Nova Marine Carriers forms shipping venture with steelmaker Marcegaglia Italian-Swiss dry bulk group Nova Marine Carriers has established a joint venture with Marcegaglia for shipments of raw materials to the manufacturing sites of the Italian steelmaker. The jv called NovaMar Logistic will take over the management of the 2012-built open hatch 26,300 dwt handy bulker…
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Trump ignites global trade war, major economies vow retaliation
Trump ignites global trade war, major economies vow retaliation US president Donald Trump has slapped additional tariffs of 34% on imports from China, also hitting emerging manufacturing powerhouses like Vietnam and Cambodia hard, while targeting European Union imports with 20% tariffs, and adding a baseline of 10% on most goods imported to the US. As…
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US targets Russian interests moving stolen Ukrainian grain to fund the Houthis
US targets Russian interests moving stolen Ukrainian grain to fund the Houthis The Trump administration has targeted Russian interests over grain theft from Ukraine used to support funding for the Houthis in Yemen. The US Office of Foreign Assets Control (OFAC) yesterday added additional persons and companies to its sanction list as these were identified…
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Trump announces 10 per cent base tariff on all imports, with higher rates for some countries
Trump announces 10 per cent base tariff on all imports, with higher rates for some countries Reuters Go to baird maritime
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Trump’s ‘Liberation Day’ arrives
Trump’s ‘Liberation Day’ arrives Donald Trump is expected to announce sweeping tariffs in a statement at the White House Rose Garden at 16:00 EST this afternoon, branding today as ‘Liberation Day’ in the latest economic shock to hit global seaborne trades in the opening months of his return to power. The scope and scale of…
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Geneva Dry Dialogues: Seaber
Geneva Dry Dialogues: Seaber The tech space in dry bulk is crowded, concedes Sebastian Sjöberg, the CEO and co-founder of Seaber, a predictive AI platform providing data-driven decision support for scheduling and chartering optimisation. It’s a point evidenced by the fact that more than a third of the 58 sponsors of this year’s Geneva Dry…
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US bulker outfit Pioneer Navigation shuffles leadership team
US bulker outfit Pioneer Navigation shuffles leadership team US dry bulk shipping player Pioneer Navigation has reshuffled its leadership team. The Stamford-based company founded through the combination of Nassau-based Pioneer Navigation in the Bahamas and dry cargo brokerage Atlas Shipping has named Peter Bro as its new president. Bro, who spent about 20 years at…
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One month countdown to Geneva Dry
One month countdown to Geneva Dry There’s just one month to go until this year’s largest gathering of charterers and shipowners takes place in the Swiss city of Geneva. Geneva Dry, the world’s premier commodities shipping conference, is scheduled for April 28 and 29 at the Hotel President Wilson with close to 300 companies already…
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Six injured after fire ignites on Russian-flagged cargo ship off South Korea’s Gamcheon Port
Six injured after fire ignites on Russian-flagged cargo ship off South Korea’s Gamcheon Port Baird Maritime Go to baird maritime
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Burmester & Vogel expands with Laysoft acquisition
Burmester & Vogel expands with Laysoft acquisition Boston-based maritime technology company Burmester & Vogel (B&V) has acquired Windows-based laytime calculation software Laysoft for an undisclosed amount. Founded by technology entrepreneur Kingston Duffie, Laysoft, also known as Laytime2000, has gained more than 200 active users in the dry bulk market over the past two decades, notably…
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Thoresen Thai adds to bulker fleet
Thoresen Thai adds to bulker fleet Thoresen Thai Agencies has bolstered its dry bulk fleet with a supramax purchase on the secondhand market. The Bangkok-based listed owner said in a filing it had acquired an unnamed 2012-built 56,104 dwt unit without disclosing further details. S&P sources suggest the company snapped up Shunzan Kaiun’s Pacific Infinity…
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US farm and fossil fuel groups express concern over port fee plans at hearing
US farm and fossil fuel groups express concern over port fee plans at hearing Reuters Go to baird maritime
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Nutrien: “No major impact from Black Sea deal”
Nutrien: “No major impact from Black Sea deal” Reuters Go to baird maritime
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Norden bags pair of capesize newbuilds
Norden bags pair of capesize newbuilds Denmark’s Norden has firmed up its commitment to the capesize bulker segment through a deal for a pair of newbuildings. The Hellerup-based shipping giant will take the vessels on charter, with purchase options attached to the contract. The vessels will be built in Japan, with deliveries set for 2026…
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Caravel Group buys into Pacific Basin
Caravel Group buys into Pacific Basin Hong Kong conglomerate Caravel Group has raided the local stock market to acquire a significant stake in fellow dry bulk giant Pacific Basin Shipping. Caravel Maritime Ventures, part of the Banga family’s Caravel Group, has picked up 388.5m shares, corresponding to a 7.53% stake in the Martin Fruergaard-led handysize…
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Seanergy strikes double sale and leaseback
Seanergy strikes double sale and leaseback US-listed Greek capesize bulker specialist Seanergy Maritime has entered into sale and leaseback agreements with a Chinese financier for two of its vessels. The Stamatis Tsantanis-led company revealed in its annual report that the 2009-built Friendship and the 2010-built Squireship had been sold to China Huarong Shipping Financial Leasing,…
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Icon Energy bolsters fleet with modern ultramax
Icon Energy bolsters fleet with modern ultramax Nasdaq-listed Greek bulker outfit Icon Energy is expanding its fleet by bringing in a 2020-built ultramax on a bareboat charter. The Ismini Panagiotidi-led company said the 63,668 dwt scrubber-fitted vessel, to be named Charlie, should join the fleet between May and August 2025. The deal includes an advance…
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Diana Shipping bags Cargill panamax fixture
Diana Shipping bags Cargill panamax fixture Greek bulker owner Diana Shipping has landed another charter deal with Cargill, the New York-listed company’s fourth fixture with the commodities trading giant in just over a month. The Semiramis Paliou-led company has secured employment for the 2010-built panamax Leto from end-March through to July 16, 2026, and extension…
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Precious Shipping diversifies with Malaysian tanker venture
Precious Shipping diversifies with Malaysian tanker venture As fleet overhaul at Precious Shipping pushes ahead, the Thai dry bulk player has moved to expand its business to other shipping sectors. The Khalid Hashim-led listed owner said in a stock exchange filing that its Singapore subsidiary had struck a deal with Emstraits Navigation and Lianson Fleet,…
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Bulker owner Diana Shipping makes LPG move
Bulker owner Diana Shipping makes LPG move Greek bulker owner Diana Shipping has diversified into the gas shipping sector with an investment in a newly established joint venture, building two 7,500 cu m LPG carriers. The New York-listed company has signed up for 80% in the venture, called Ecogas Holding, which will see the two…
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Panagiotidis family member takes two bulkers from Castor Maritime
Panagiotidis family member takes two bulkers from Castor Maritime Cyprus-based owner Castor Maritime has sold two of its panamax bulk carriers in another family-related transaction. The Nasdaq-listed company is shipping the 2011-built Magic Eclipse and the 2012-built Magic Callisto to outfits beneficially owned by a family member of chairman and CEO Panagiotidis. The deal worth…
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Western Bulk pockets $1.5m profit from ultramax sale
Western Bulk pockets $1.5m profit from ultramax sale Norwegian dry bulk operator Western Bulk Chartering has locked in about $1.5m profit from the sale of a 2020-built ultramax picked up by exercising a purchase option. The Oslo-listed company has offloaded the Western Singapore to Thai bulker owner Precious Shipping for $28m. The purchase option was…
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USA and Russia to discuss Black Sea shipping on Monday
USA and Russia to discuss Black Sea shipping on Monday Reuters Go to baird maritime
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Norden sells five ships
Norden sells five ships Danish shipping giant Norden has revealed new activity in the sale-and-purchase market with five transactions recently closed in the dry and wet segments. The move is in line with the company’s intention to realise asset values, the Jan Rindbo-led owner and operator said. The Hellerup-based company has let go of two…
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Jinhui sells veteran supramax
Jinhui sells veteran supramax Chinese bulker owner and operator Jinhui Shipping and Transportation has offloaded one of its older supramaxes in its first sale in more than a year. The Oslo- and Hong Kong-listed company is shipping out the 2007-built Jin Shun to Honk Kong incorporated Yuhe Shipping in a deal worth $8.26m. The 53,350…
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ESL Shipping extends raw material transport deal with SSAB
ESL Shipping extends raw material transport deal with SSAB ESL Shipping, part of Finnish conglomerate Aspo, and global steel manufacturer SSAB have agreed a multi-year extension for the transport of inbound raw material sea transports within the Baltic Sea and from the North Sea. The new contract also covers transport of SSAB’s fossil-free sponge iron…
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MSC Baltic III grounding in east Canada may require road rebuild to access site for salvage
MSC Baltic III grounding in east Canada may require road rebuild to access site for salvage Baird Maritime Go to baird maritime
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Sisi says Suez Canal monthly revenue losses at around $800m
Sisi says Suez Canal monthly revenue losses at around $800m Reuters Go to baird maritime
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Red Sea insurance rates to stay firm as US airstrikes raise fears for ships
Red Sea insurance rates to stay firm as US airstrikes raise fears for ships Reuters Go to baird maritime
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Oskar Wehr seals newbuild quartet in China
Oskar Wehr seals newbuild quartet in China Germany’s Oskar Wehr is expanding its fleet with four general cargo newbuilds in China. Newbuilding sources report the Hamburg-based outfit has contracted 5,900 dwt units at Jiangsu Dajin Heavy Industry. No price has been divulged for the order. The yard, which has several German owners on its newbuilding…
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Capesize tonne-mile uptick seen as Africa outmuscles Australia for iron ore
Capesize tonne-mile uptick seen as Africa outmuscles Australia for iron ore Iron ore exports out of Africa are set to be one of the great growth drivers of global seaborne trades for the rest of the 2020s, new research from broker SSY shows. Guinea’s Simandou mine alone is set to deliver 60m tonnes of iron…
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More tankers and dry bulk carriers turn away from the Red Sea
More tankers and dry bulk carriers turn away from the Red Sea While there have been no attacks by the Houthis from Yemen on merchant shipping this year, shipowners are still giving the Red Sea a wide berth to the consternation of the Suez Canal Authority. Indeed, for shipping’s two largest sectors, the number of…
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Diana Shipping fixes another kamsarmax to Cargill
Diana Shipping fixes another kamsarmax to Cargill New York-listed Greek bulker owner Diana Shipping has secured its second Cargill charter within a month. The commodities giant is chartering in the 2010-built kamsarmax Medusa for up to 16 months. The 82,194 dwt Tsuneishi-built vessel, which earlier this year came off a long-term charter with ASL Bulk…
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Taiwan’s CMT takes option on newcastlemax brace
Taiwan’s CMT takes option on newcastlemax brace Taiwan’s Chinese Maritime Transport (CMT) is moving forward with its dry bulk newbuilding project at a domestic yard. The owner of 13 vessels spread across capesize and newcastlemax segments has settled to contract two more 210,000 dwt units at CSBC Corporation. The newbuilds, costing about $77.5m each, will…
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Russian strikes kill four crew in Odesa
Russian strikes kill four crew in Odesa Barbados-flagged bulk carrier MJ Pinar was hit by Russian missiles at the port of Odesa yesterday evening with four crew killed, and another injured. The dead crew hailed from Syria and Ukraine. The handysize vessel was loading a cargo of wheat when it was struck with images showing…
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Houthi terrorists to resume attacks on Israeli ships after Gaza aid deadline ended
Houthi terrorists to resume attacks on Israeli ships after Gaza aid deadline ended Reuters Go to baird maritime
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Carlos Pena takes over from John Michael Radziwill as CEO of C Transport Maritime
Carlos Pena takes over from John Michael Radziwill as CEO of C Transport Maritime John Michael Radziwill (pictured right) is shuffling the board at Monaco’s C Transport Maritime, remaining as chairman with key lieutenant Carlos Pena (pictured left) taking over as CEO of the dry bulk concern. CTM, which turned 20 last October, is best…
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Preliminary signs of a two-tier freight market emerge as US crackdown on Chinese-built tonnage nears
Preliminary signs of a two-tier freight market emerge as US crackdown on Chinese-built tonnage nears The first signs of a two-tier market are emerging in anticipation of Donald Trump’s likely penalisation of Chinese-built tonnage. Broker BRS is reporting Chinese-linked ships are now becoming “far less attractive” for long time charters due to the likelihood that,…
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South Africa seeks operator for multipurpose terminal in Durban
South Africa seeks operator for multipurpose terminal in Durban South Africa’s Transnet National Ports Authority (TNPA) is looking for an operator for a multipurpose terminal in Durban. The state-run ports and freight-rail operator has invited interested parties to submit proposals to design, develop, fund, build, operate, maintain, and transfer the terminal in the Maydon Wharf…
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Shipping in the crosshairs as trade uncertainty hits all-time high
Shipping in the crosshairs as trade uncertainty hits all-time high At no point since tracking began on the subject have global trade policies been more uncertain than right now, according to one index developed in the US. The Trade Policy Uncertainty (TPU) Index (see chart below) developed by four employees at the Federal Reserve Board…
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Draft of Trump executive order sees levies on China-linked ships; allies strongly pushed to do similar
Draft of Trump executive order sees levies on China-linked ships; allies strongly pushed to do similar Reuters Go to baird maritime
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Lauritzen Bulkers buys Canadian breakbulk specialist Alexander & Blake
Lauritzen Bulkers buys Canadian breakbulk specialist Alexander & Blake Danish dry bulk owner and operator Lauritzen Bulkers has acquired Canadian breakbulk and parcel shipping company, Alexander & Blake. The Copenhagen-headquartered outfit, which manages a fleet of between 90 and 110 geared handysize and ultramax vessels, is taking over the Burlington-based company for an undisclosed sum.…
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FEATURE | Shipping firms retreat from Hong Kong to avoid US-China risks including vessel takeovers
FEATURE | Shipping firms retreat from Hong Kong to avoid US-China risks including vessel takeovers Reuters Go to baird maritime
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Trump’s trade war steps up a gear
Trump’s trade war steps up a gear US president Donald Trump’s new round of tariffs against his country’s top three trading partners has sparked retaliatory action, launching new trade conflicts. On Tuesday, Trump imposed 25% tariffs on Mexican and Canadian imports, as well as a 20% duty on Chinese goods. China responded in kind, imposing…
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Russia hits two ships at the port of Odesa
Russia hits two ships at the port of Odesa Russia targeted a containership over the weekend it claimed to be carrying weapons to Ukraine. The attack on the Mediterranean Shipping Co (MSC) ship at the port of Odesa also hit a nearby Sierra Leone-flagged bulk carrier in collateral damage. The 1,118 teu MSC Levante F…
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Lauritzen Bulkers CEO leaves due to stress
Lauritzen Bulkers CEO leaves due to stress Martin Egvang has stepped down as chief executive officer of Copenhagen-based shipowner and operator Lauritzen Bulkers, citing stress issues. “I have been experiencing increasing stress-related symptoms, which has reached an unsustainable level, and I have therefore concluded that the right thing for me is to step down as…
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HMM takes Hosco newcastlemax
HMM takes Hosco newcastlemax South Korean flagship line HMM has been linked to another secondhand purchase in the larger bulk carrier segment. Brokers report the Seoul-based company has snapped up the 2014-built newcastlemax Oriental Dragon from bulker owner Hebei Ocean Shipping Co (Hosco) in a deal valued at about $49.2m. Hosco bought the Imabari-built 207,800…
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Costamare spinning off bulkers business
Costamare spinning off bulkers business New York-listed Greek shipowner Costamare has moved to spin off its dry bulk operation into a separate publicly traded company. The new company Costamare Bulkers Holdings is expected to launch this year and to be listed on the New York Stock Exchange. The outfit will own nearly 40 vessels in…