krogragg

Category: Dry Cargo

  • Carisbrooke seals $27m newbuild financing

    Carisbrooke seals $27m newbuild financing UK owner Carisbrooke Shipping has secured financing for its newbuilding programme in the Netherlands. Germany’s KfW IPEX-Bank is backing the construction of two 7,700 dwt general cargo vessels at Thecla Bodewes Shipyards with around €26m ($27.3m). The ships in the so-called Labrax series have modern diesel-electric propulsion, with an option…

  • Ningbo Marine firms up ultramax pair at Jiangsu Haitong

    Ningbo Marine firms up ultramax pair at Jiangsu Haitong Chinese owner Ningbo Marine has added to its ultramax bulker orderbook with two newbuilds firmed up at compatriot yard. The Shanghai Stock Exchange-listed company signed up for up to four 64,000 dwt vessels at Jiangsu Haitong Offshore Engineering Equipment last November. The deal covered two firm…

  • Ivory Coast customs officers bust cocoa bean fraudster

    Ivory Coast customs officers bust cocoa bean fraudster Reuters Go to baird maritime

  • Russia’s Volga Shipping secures improved risk rating for dangerous goods transport

    Russia’s Volga Shipping secures improved risk rating for dangerous goods transport Baird Maritime Go to baird maritime

  • Container sector set to take biggest hit from US plans to charge Chinese-built vessels

    Container sector set to take biggest hit from US plans to charge Chinese-built vessels Shipping is reeling from what could be the most seismic decision to effect the industry yet in the opening weeks of Donald Trump’s second term in office. The American president will make a decision, likely in around a month’s time, on…

  • US targets Chinese ships and terminal investments

    US targets Chinese ships and terminal investments The US is considering slapping huge fees on Chinese-built ships calling at its ports, while also clamping down on Chinese ownership of terminals on home soil. The United States Trade Representative (USTR) has finally outlined the ways it feels Washington DC can fight back against the dominance China…

  • Captain of aircraft carrier involved in collision off Egypt dismissed

    Captain of aircraft carrier involved in collision off Egypt dismissed The US Navy has decided to relieve the commanding officer of the USS Truman – the nuclear-powered aircraft carrier that had a collision with a bulk carrier off Egypt last week. Captain Dave Snowden was relieved Thursday for “loss of confidence in his ability to…

  • Ciner Shipping decamps from Istanbul to Athens

    Ciner Shipping decamps from Istanbul to Athens One of Turkey’s largest shipowners is decamping to Greece. Istanbul-based news outlet Türkiye Today is reporting Ciner Shipping is shifting its operations to Athens with staff in Turkey informed today that their current work contracts would be terminated with full legal compensation. Ciner Shipping owns and operates a…

  • Russian ship in trouble with hull breach

    Russian ship in trouble with hull breach A Russian Panama-flagged cargo ship carrying 3,000 tons of corn is in trouble the Sea of Azov after suffering a hull breach near the port of Azov in Russia’s Rostov region, according to local media. The 46-year-old vessel, Pavlo Grabovskiy, departed from Rostov en route to Samsun in…

  • HMM enters due diligence to acquire SK Shipping

    HMM enters due diligence to acquire SK Shipping Korean private equity firm Hahn & Co has selected the nation’s flag carrier, HMM, as the preferred bidder for the sale of a majority stake in SK Shipping.  Due diligence is due to get underway through to the middle of next month. The deal faces one significant…

  • Dry Cargo Vessel News Roundup | February 20 – New Dutch multi-purpose carrier, Chinese yards’ growing orderbooks and more

    Dry Cargo Vessel News Roundup | February 20 – New Dutch multi-purpose carrier, Chinese yards’ growing orderbooks and more Baird Maritime Go to baird maritime

  • Peak CSL and Grieg Edge venture contracts ammonia-powered newbuild

    Peak CSL and Grieg Edge venture contracts ammonia-powered newbuild Skarv Shipping Solutions, a Norwegian joint venture between Peak CSL Group and Grieg Edge has placed an order for an ammonia-powered general cargo shortsea vessel in China. The 7,800 dwt self-unloader is scheduled for delivery in the second quarter of 2027. Compatriot owner and operator Arriva…

  • Cargill hires kamsarmax bulker from Diana Shipping

    Cargill hires kamsarmax bulker from Diana Shipping Greek bulker owner Diana Shipping has entered into a time charter contract with commodities giant Cargill for one of its kamsarmax vessels. Cargill hired the 2010-built, 82,117 dwt bulker Myrsini. The gross charter rate is $13,000 per day, minus a 5% commission paid to third parties, for a period…

  • Star Bulk ships out supramax

    Star Bulk ships out supramax Nasdaq-listed Star Bulk Carriers is offloading one of its 23 supramaxes. The Athens-based dry bulk giant revealed in its quarterly earnings report it had agreed to sell the 15-year-old Bittern. The buyer and the price of the 57,800 dwt vessel, estimated by S&P sources at about $11.8m, have not been…

  • Cargo ship master sentenced in UK over deadly collision in Baltic Sea

    Cargo ship master sentenced in UK over deadly collision in Baltic Sea Baird Maritime Go to baird maritime

  • Bulk carrier collides with American nuclear-powered aircraft carrier off Egypt

    Bulk carrier collides with American nuclear-powered aircraft carrier off Egypt The United States Navy announced on Thursday that an investigation was underway after the nuclear-powered USS Harry S Truman aircraft carrier was involved in a collision with a Panamanian-flagged bulk carrier in the Mediterranean Sea. The accident happened late on Wednesday night near Egypt’s Port…

  • Diana sells 15-year-old post-panamax and nets newcastlemax charter extension

    Diana sells 15-year-old post-panamax and nets newcastlemax charter extension Greece’s Diana Shipping has agreed to sell its 2010-built post-panamax bulker Alcmene for about $11.9m and secured a charter extension for one of its newcastlemaxes at a bumper rate. The New York-listed company said it will deliver the 93,193 dwt vessel to an undisclosed buyer by…

  • Golden Ocean snaps up eight SFL capesizes

    Golden Ocean snaps up eight SFL capesizes John Fredriksen-backed dry bulk player Golden Ocean Group is taking eight capsizes out of leases from Fredriksen’s shipowning company SFL Corp. The Nasdaq- and Oslo-listed company has declared purchase options worth $112m in total in connection to the vessels’ 10-year charter-in anniversary. Delivery is expected during the third…

  • Globus Maritime continues ageing bulkers clearout

    Globus Maritime continues ageing bulkers clearout Nasdaq-listed Greek dry bulk owner Globus Maritime has continued the sell-off of older vessels as it makes room for fresh tonnage to join the fleet. The Athens-based firm is shipping out the 2007-built supramax River Globe for $8.55m before commissions. The 53,627 dwt vessel is the oldest in Globus’…

  • Himalaya Shipping seals fresh index-linked deal

    Himalaya Shipping seals fresh index-linked deal Oslo-listed Himalaya Shipping has secured new employment for its newcastlemax bulk carrier currently trading on a fixed time charter. The Tor Olav Troim-backed owner and operator has entered into a 14-to 38-month contract for the 2023-built Mount Norefjell starting after the vessel’s redelivery from its current charterer in late…

  • Steel and aluminium up next in Trump’s tariff campaign

    Steel and aluminium up next in Trump’s tariff campaign China’s retaliatory tariffs on some American goods came into effect on Monday, while Donald Trump, the American president, vowed yesterday to impose a 25% tariff on all steel and aluminium imports into the US, with a full announcement to come today. “Any steel coming into the…

  • Finland’s Hacklin buys into fellow shortsea operator Nordic Chartering

    Finland’s Hacklin buys into fellow shortsea operator Nordic Chartering Finnish logistics player Hacklin Group has strengthened its business with the acquisition of a considerable stake in compatriot shortsea operator Nordic Chartering. The move of Hacklin joining as the shareholder for an undisclosed sum will build a strong foundation for future vessel investments, the companies said…

  • Geneva Dry Dialogues: Manta Marine Technologies

    Geneva Dry Dialogues: Manta Marine Technologies Ina Reksten, who runs Norwegian vessel optimisation specialist Manta Marine Technologies, acknowledges many of her clients are struggling to meaningfully translate all the data heading their way. “It sounds straight forward, but a good outcome requires not only strong programming skills and setting data parameters, but also understanding of…

  • EuroDry sells veteran bulker for scrap

    EuroDry sells veteran bulker for scrap Nasdaq-listed Greek dry bulk owner EuroDry has offloaded its oldest vessel for demolition. The Aristides Pittas-led company is sending its 2000-built 75,100 dwt Tasos to a demo yard in Bangladesh for about $5m. The vessel, picked up by an undisclosed cash buyer, will be delivered between mid-February and mid-March…

  • Costamare reveals fresh bulker sale with panamax deal

    Costamare reveals fresh bulker sale with panamax deal Greek owner Costamare is shipping out one of its oldest bulkers as renewal of the owned fleet presses ahead. The New York-listed company has revealed the sale of its 2008-built panamax Rose with an expected exit from the fleet in the first or second quarter. The 76,619…

  • South Korean government to provide subsidies for construction of environment-friendly ships

    South Korean government to provide subsidies for construction of environment-friendly ships Baird Maritime Go to baird maritime

  • Beijing retaliates as Trump’s China tariffs kick in

    Beijing retaliates as Trump’s China tariffs kick in Donald Trump’s fast-moving tariff tiffs with key trading partners continue to keep shipping executives on edge around the world.  Similar to the threats he made to Colombia a week prior, the American president yesterday put planned tariffs against Mexico and Canada on hold for 30 days, saying…

  • Navibulgar ship accused of subsea sabotage off the hook

    Navibulgar ship accused of subsea sabotage off the hook Swedish prosecutors have released the vessel suspected of cutting a fibre-optic subsea cable between Latvia and the Swedish island of Gotland after assessing the event as an accident, not sabotage. The Swedish Prosecution Authority seized the Navibulgar-owned, 32,200 dwt bulker Vezhen on January 26. Swedish authorities…

  • Shipping set to be reshaped by Trump tariffs

    Shipping set to be reshaped by Trump tariffs Global seaborne trade flows are set for choppy conditions in the wake of President Donald Trump’s decision on Saturday to levy  25% tariffs on imports from Canada and Mexico and 10% on goods from China starting tomorrow. For energy imports from Mexico and Canada, the tariff level has…

  • Norway seizes second ship suspected of Baltic Sea cable damage

    Norway seizes second ship suspected of Baltic Sea cable damage Reuters Go to baird maritime

  • Landlocked Switzerland becomes a top 10 shipowning nation thanks to Aponte’s MSC

    Landlocked Switzerland becomes a top 10 shipowning nation thanks to Aponte’s MSC One family has propelled a landlocked European nation into the top shipowning countries in the world. Gianluigi Aponte’s Geneva-based Mediterranean Shipping Co (MSC) has been on a historic fleet expansion in the 2020s, hoovering up more than 400 secondhand boxships, and ordering more…

  • Precious Shipping sells off vintage handysize

    Precious Shipping sells off vintage handysize Fleet overhaul at Precious Shipping has continued with the sale of one of its oldest vessels. The Thai dry bulk player has offloaded its 2005 Shikoku Dockyard-built Rojarek Naree for $8.8m. The buyer of the 29,900 dwt ship is an overseas company that does not have any relationship with…

  • Shipping’s ultimate Year of the Snake fortune guide published today

    Shipping’s ultimate Year of the Snake fortune guide published today The January issue of Splash Extra gives readers the ultimate guide to shipping prospects in the Year of the Snake.  The Lunar New Year is not starting too well with many sectors struggling to break even in January.  The cross-sector ClarkSea Index, a weighted barometer…

  • Arriva adds to bulker orderbook in China

    Arriva adds to bulker orderbook in China Norway’s Arriva Shipping has continued its fleet renewal drive with a fresh battery hybrid bulker newbuilding order in China. The Sindre Matre-led company has contracted Jiangsu Soho Marine Heavy Industry to see the 8,000 dwt vessel delivered in the third quarter of 2026. The newbuild will be a…

  • Baltic states call for new rules to tackle shadow fleet threat

    Baltic states call for new rules to tackle shadow fleet threat The Bulgarian owner at the centre of a new cable cutting incident in the Baltic has denied its ship deliberately carried out the latest damage to subsea infrastructure in the region, something analysts are disputing while politicians discuss clamping down further on ships leaving…

  • China increasingly using dry bulk carriers to move project cargoes around the world

    China increasingly using dry bulk carriers to move project cargoes around the world There has been a remarkable doubling of the amount of project cargoes leaving China on dry bulk carriers over the past year. Citing AIS satellite dry bulk carrier movement data from AXSMarine, Greece’s Ursa Shipbrokers has tallied that project cargo exports carried…

  • Sweden seizes ship suspected of being behind latest Baltic cable outage

    Sweden seizes ship suspected of being behind latest Baltic cable outage The Swedish Prosecution Authority has seized a ship suspected of damaging un underwater fiber optic cable linking Latvia and the Swedish island of Gotland yesterday, the latest in a series of undersea sabotage attacks plaguing the Baltic region. The ship in question this time…

  • Capes carrying more bauxite than coal for the first time

    Capes carrying more bauxite than coal for the first time China’s remarkable thirst for bauxite to manufacture aluminium has helped prop up cape rates considerably in recent years. Now for the first time, the capesize fleet is carrying more bauxite than coal, according to broker Arrow.  “Volumes from Guinea have surged at the start of…

  • New report highlights shipping’s weak position within the global energy transition

    New report highlights shipping’s weak position within the global energy transition A new report from UCL’s Energy Institute Shipping and Oceans Research Group assesses the financial risks to the shipping industry from stranded assets due to stricter greenhouse gas regulations, possibly due for adoption at the International Maritime Organization (IMO) this year, in combination with…

  • Asyad Shipping charts Oman IPO course

    Asyad Shipping charts Oman IPO course Oman’s state-controlled logistics giant Asyad Group has moved to sell shares in Asyad Shipping through an initial public offering. Crédit Agricole Corporate and Investment Bank and Société Générale have been appointed as joint bookrunners for the group, which plans to sell a stake of at least 20% in Asyad…

  • Shipping readies to navigate new Trump era

    Shipping readies to navigate new Trump era Today marks the end of the Joe Biden administration in the US, one of the most profitable four-year periods for shipping. With the return of Donald Trump to the White House, the shipping industry has many questions about what the future of global trade holds, some of which…

  • Houthis maintain Israeli ban while allowing all other ships to pass

    Houthis maintain Israeli ban while allowing all other ships to pass As the first phase of the ceasefire between Israel and Hamas came into effect yesterday, the Houthis of Yemen have provided an update on their Red Sea strategy. The Houthis said yesterday so long as the ceasefire remains in place, international merchant ships may…

  • Zhejiang Zheshang Financial signs for bulker brace at Jiangsu Soho Chuangke

    Zhejiang Zheshang Financial signs for bulker brace at Jiangsu Soho Chuangke China’s Zhejiang Zheshang Financial Leasing has contracted two ultramax bulk carrier newbuilds at compatriot yard Jiangsu Soho Chuangke Shipbuilding. The 63,500 dwt units cost between $34m and $35m each, with delivery set for 2027. The order is backed by a bareboat charter to the…

  • Houthi leader warns Israel to stick to ceasefire terms

    Houthi leader warns Israel to stick to ceasefire terms The leader of Yemen’s Houthis, Abdul Malik al-Houthi, has said his group will monitor the implementation of a ceasefire deal between Israel and Hamas and will continue its attacks on ships in the Red Sea if it is breached. The six-week phase one of the ceasefire…

  • AtoB@C signs up for six BAAS Shipping newbuilds

    AtoB@C signs up for six BAAS Shipping newbuilds AtoB@C Shipping, a Swedish subsidiary of ESL Shipping, part of the Finnish conglomerate Aspo, has continued its fleet renewal push with a long-term charter deal for six newbuildings. The shortsea operator will be adding low-emission 5,900 dwt ice class 1A bulkers to its fleet between 2025 and…

  • Solebay extends charters for Diana Shipping bulker pair

    Solebay extends charters for Diana Shipping bulker pair Greek bulker owner Diana Shipping has won time charter extensions for two of its vessels with Solebay Shipping. The first extension is for the 2007-built, 174,261 dwt capsize bulker Semirio. The gross charter rate is $16,650 per day, minus a 5% commission paid to third parties, for…

  • Australian shipowner exits live export business with sale of last remaining vessel

    Australian shipowner exits live export business with sale of last remaining vessel Baird Maritime Go to baird maritime

  • Diana Shipping fixes out cape to SwissMarine

    Diana Shipping fixes out cape to SwissMarine Greek bulker owner Diana Shipping has entered into a time charter contract with SwissMarine for one of its capesize vessels. Stone Shipping hired the 2010-built, 177,773 dwt bulker New York. The gross charter rate is $17,600 per day, minus a 5% commission paid to third parties, for a…

  • Pot Scheepvaart back at Royal Bodewes for another MPP newbuild

    Pot Scheepvaart back at Royal Bodewes for another MPP newbuild Dutch owner Pot Scheepvaart has returned to fellow shipyard Royal Bodewes with an order for an additional 6,340 dwt multipurpose (MPP) newbuild. The new contract, which follows another unit booked for construction in March last year, will see the vessel delivered in 2027. The Delfzijl-based…

  • Hebei Xinyang signs for kamsarmax pair at Chengxi

    Hebei Xinyang signs for kamsarmax pair at Chengxi China’s Hebei Xinyang Shipping has contracted two kamsarmax bulk carrier newbuilds at CSSC Chengxi Shipyard. The 229-m-long newbuilds, independently developed by CSSC Chengxi, will meet the International Maritime Organization’s (IMO) Tier III and EEDI III emission standards. The deal worth about $75m will see the first 82,600…

  • COSCO seeks to defuse Pentagon spat

    COSCO seeks to defuse Pentagon spat COSCO, the world’s largest shipping company, has sought to downplay news carried by Splash yesterday that it has been added to a list of companies the US Department of Defense views as having links to the People’s Liberation Army. While being on the Pentagon’s blacklist carries no specific penalties,…

  • Seacon agrees sale and leaseback for bulker newbuild

    Seacon agrees sale and leaseback for bulker newbuild China’s Seacon Shipping has secured financing for one of its handysize bulk carriers under construction in Japan. The Hong Kong-listed company said in a filing it had agreed to a $31.38m sale and leaseback deal for a 40,000 dwt bulker with Panama-incorporated Dawn Shipping and its Japan-based…

  • Globus Maritime bags sale and leaseback for ultramax newbuild

    Globus Maritime bags sale and leaseback for ultramax newbuild Greek dry bulk owner Globus Maritime has struck a sale and leaseback deal for one of its recently delivered vessels. The Nasdaq-listed company said it had sold its ultramax Glbs Magic to a Japanese buyer for $25m in December and chartered the 2024-built bulker back for…

  • Bulk carrier pair collide in Yangtze River, fuel oil spilled

    UPDATE 1-Two bulk carriers collide in China’s Yangtze river, Singapore’s port authority says

  • Bulkship Management denies Russian claim it refused to help sinking ship

    UPDATE 2-Norwegian shipping firm denies Moscow’s claim it refused to help sinking Russian ship

  • COLUMN | Renewable energy finally sails off into the past: why wind and solar power for ships won’t suffice on their own [An Innocent Australian]

    COLUMN | Renewable energy finally sails off into the past: why wind and solar power for ships won’t suffice on their own [An Innocent Australian] Stuart Ballantyne Go to baird maritime

  • Diana Shipping extends post-panamax charter at reduced rate

    Diana Shipping extends post-panamax charter at reduced rate New York-listed Greek bulker owner Diana Shipping has won an extension of a time charter contract for one of its post-panamax vessels with Belgium’s Cobelfret. Diana Shipping agreed on an extension for its 2012-built, 98,697 dwt bulker Amphitrite. The original deal for the vessel started on November…

  • Larger vessel segments post gains, lifting Baltic Dry Index

    Baltic index rises as larger vessel segments post gains

  • COSCO continues bulker fleet expansion with newcastlemax series

    COSCO continues bulker fleet expansion with newcastlemax series Chinese state-owned shipping giant COSCO has further expanded its dry bulk newbuilding initiative with up to eight newcastlemax vessels at its group yard, COSCO Shipping Heavy Industry Yangzhou. The deal with an undisclosed value covers three firm and five optional 210,000 newbuilds, which will be operated by…

  • Longship boosts orderbook with newbuild brace

    Longship boosts orderbook with newbuild brace Netherlands-based shortsea operator Longship Group has bolstered its orderbook of eco-friendly general cargo vessels. The company has signed up for a pair of 3,700 dwt GS Eco-Freighters at compatriot GS Projects and Ship and Steelbuilding (SaS) in Waterhuizen following an order for two similar ships, which have already been…

  • Swedish police boards Chinese bulker to observe cable outage investigation

    Swedish police boards Chinese bulker to observe cable outage investigation Swedish police on Thursday boarded the Yi Peng 3, a 23-year-old panamax bulker owned by Ningbo Yipeng Shipping and linked to the severing of two data cables in the Baltic Sea after being invited by Chinese authorities. The vessel has been wanted for questioning by Sweden…

  • COSCO signs for 10 kamsarmax newbuilds

    COSCO signs for 10 kamsarmax newbuilds COSCO Shipping is pressing ahead with its massive newbuilding programme in the dry bulk segment. The Chinese state-owned shipping giant has partnered up with Everbright Financial Leasing for 10 kamsarmax newbuilds, which will be built at Jiangsu Hantong Ship Heavy Industry. Financial details and delivery dates for the 82,000…

  • EnTrust strikes deal on cash offer for Belships

    EnTrust strikes deal on cash offer for Belships US asset management firm EnTrust Global is set to launch a voluntary cash tender offer to take over Norwegian bulker owner Belships.  Blue Northern, a special purpose vehicle formed by funds managed by the Blue Ocean maritime investment team at EnTrust, will offer NOK20.50 per share in…

  • VESSEL REVIEW | Zulu 06 – Hydrogen-powered cargo ship demonstrator designed for inland waters

    VESSEL REVIEW | Zulu 06 – Hydrogen-powered cargo ship demonstrator designed for inland waters Baird Maritime Go to baird maritime

  • Dry Cargo Vessel News Roundup | December 19 – German multi-purpose carriers, new Chinese PCTC and more

    Dry Cargo Vessel News Roundup | December 19 – German multi-purpose carriers, new Chinese PCTC and more Baird Maritime Go to baird maritime

  • MOL hires cape from Diana Shipping

    MOL hires cape from Diana Shipping New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Japan’s largest shipowner Mitsui O.S.K. Lines (MOL) for one of its capesize vessels. The company hired the 2015-built, 179,426 dwt bulker Santa Barbara. The gross charter rate is $22,000 per day, minus a 5% commission…

  • Doun Kisen bulks up with four newbuilds in China

    Doun Kisen bulks up with four newbuilds in China Japan’s Doun Kisen has boosted its bulk carrier orderbook in China with four additional newbuilds. Multiple broking outfits report the diversified shipowner has returned to Nantong Xiangyu Shipbuilding & Offshore Engineering for a pair of kamsarmax and ultramax vessels each. The 82,000 dwt and 63,500 dwt…

  • China Merchants signs for newcastlemax newbuild brace

    China Merchants signs for newcastlemax newbuild brace China Merchants Energy Shipping (CMES) has struck a lease deal for a pair of scrubber-fitted newcastlemax bulker newbuilds delivering in 2026. The Shanghai-listed diversified shipping arm of China Merchants Group said in a filing it would be paying around $100m to take 210,000 dwt vessels on charter from…

  • Giant 400,000 dwt VLOC sets new wind installation record

    Giant 400,000 dwt VLOC sets new wind installation record Anemoi Marine Technologies has completed the installation of five rotor sails onboard the 400,000 dwt VLOC Sohar Max making it the largest vessel to receive wind propulsion technology to date. Sohar Max is a first-generation Valemax, built in 2012 in China’s Rongsheng shipyard, and owned by…

  • Diana Shipping fixes kamsarmax to China Resource Chartering

    Diana Shipping fixes kamsarmax to China Resource Chartering New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with China Resource Chartering for one of its kamsarmax vessels. The company hired the 2013-built, 75,403 dwt bulker Maera. The gross charter rate is $8,400 per day, minus a 5% commission paid to third…

  • Disconnect between earnings and secondhand asset values in the spotlight

    Disconnect between earnings and secondhand asset values in the spotlight Broker SSY has been studying the disconnect between earnings and secondhand asset values in the bulker market, something it believes will continue next year and beyond, thanks in no small part to shipyard capacity utilisation. Given continued strong newbuild demand across the shipping markets, SSY…

  • MOL orders ammonia dual-fuel newcastlemaxes

    MOL orders ammonia dual-fuel newcastlemaxes Mitsui OSK Lines (MOL) has beefed up its orderbook with a new deal for newcastlemax bulk carriers in China. Newbuilding brokers say the Japanese shipping giant has contracted four 210,000 dwt units at leading newcastlemax builder CSSC Qingdao Beihai Shipbuilding for delivery in 2027 and 2028. MOL had ordered three…

  • Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting

    Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting Syria has become a no-go zone for international merchant shipping following the ousting of the Assad family from power.  Ships are giving the Middle Eastern nation a wide berth in the wake of the uprising that saw Bashar al-Assad fly to Russia…

  • Specialist workshops added to Geneva Dry

    Specialist workshops added to Geneva Dry Based on feedback from delegates to this year’s event, the organisers of Geneva Dry have added two specialist workshops to next year’s edition of the world’s premier commodities shipping conference. On the morning of April 28, delegates will be able to attend both the Crewing In The Digital Age…

  • Global trade set to hit record $33trn this year

    Global trade set to hit record $33trn this year Global trade is on track to hit a record $33trn in 2024, according to the latest data from UNCTAD, the United Nations’ trade body. This 3.3% annual growth has been driven largely by a 7% rise in trade in services, contributing $500bn to the overall expansion.…

  • Jinhui continues fleet renewal push with ultramax buy

    Jinhui continues fleet renewal push with ultramax buy Chinese bulker owner and operator Jinhui Shipping and Transportation has returned to the secondhand market for another ultramax in its latest fleet renewal move. The Oslo- and Hong Kong-listed company has picked up the 2017-built Great Century from CMB Financial Leasing in a deal worth $24.52m. In…

  • 12 deaths reported on EU-registered vessels in 2023

    12 deaths reported on EU-registered vessels in 2023 Baird Maritime Go to baird maritime

  • Norden pounces on five leased ships and signs up for bulker newbuilds

    Norden pounces on five leased ships and signs up for bulker newbuilds Denmark’s Norden has seized the opportunity to bolster its owned fleet by five ships and signed to lease a fresh pair of bulker newbuildings as two older capesize units are being lined up for the new owner. The Jan Rindbo-led owner and operator…

  • DryDel enters cape segment with double order at Namura

    DryDel enters cape segment with double order at Namura Greek bulker player DryDel Shipping is moving into the capsize sector through a newbuilding deal in Japan. The Costas Dellaportas-led company has ordered a pair of scrubber-fitted 182,000 dwt vessels at Namura Shipbuilding with delivery set for 2028. Financial details were not given, but DryDel said…

  • Houthis fire barrage at passing American convoy

    Houthis fire barrage at passing American convoy The Houthis roared back into action yesterday, firing a barrage of armaments against a passing American convoy in the Red Sea. As is common in the 13-month campaign waged by the Houthis, there are discrepancies in terms of the scale and efficacy of the latest attacks with the…

  • Geneva Dry Dialogues: Heidelberg Materials Trading

    Geneva Dry Dialogues: Heidelberg Materials Trading The dry bulk fleet is rapidly ageing and new orders will be vital next year, even if yards are overflowing with contracts for other types of ships. That’s the view of Willem Vermaat, shipping director at cement giant Heidelberg Materials Trading, who will be joining the minor bulks session…

  • Pacific Basin orders methanol dual-fuel ultramaxes

    Pacific Basin orders methanol dual-fuel ultramaxes Hong Kong-based dry bulk shipping giant Pacific Basin has ordered four methanol dual-fuel ultramaxes at Japan’s Nihon Shipyard for delivery between 2028 and 2029.  Two of the 64,000 dwt vessels are contracted jointly with Nihon Shipyard and Imabari Shipbuilding, and the other two newbuilds are agreed with Japanese trading…

  • Freight Investor Services appoints new CEO

    Freight Investor Services appoints new CEO Freight Investor Services (FIS), a London-based freight and commodity brokerage, has appointed George Dranganoudis as its new CEO. John Banaszkiewicz will continue in his role as chairman. With over 30 years of experience in the financial services industry, Dranganoudis most recently served as deputy CEO at TP ICAP. Banaszkiewicz,…

  • Belships owner eyes selling up

    Belships owner eyes selling up Kontrari and Kontrazi, investment vehicles controlled by Frode Teigen, the largest shareholder of Belships, have revealed they are looking at selling their position in the Norwegian dry bulk owner. Teigen has hired Fearnley Securities to evaluate “potential strategic alternatives”, according to a release.  Teigen owns 53.9% of the shares in…

  • Meta taps into Norden’s biofuel offering 

    Meta taps into Norden’s biofuel offering  Danish shipping giant Norden has sealed a deal with Mark Zuckerberg’s Meta for the use of sustainable fuels in its maritime supply chains. The owner of Facebook, which has set a goal of reaching net-zero emissions across its value chain in 2030, has signed up for the so-called Book…

  • Testing firm warns against blending of cashew nutshell liquid with bunker fuel

    Testing firm warns against blending of cashew nutshell liquid with bunker fuel Baird Maritime Go to baird maritime

  • One dead following vessel collision off Japan’s Kobe Port

    One dead following vessel collision off Japan’s Kobe Port Baird Maritime Go to baird maritime

  • Shipping toasts best year for tonne-mile growth since 2010

    Shipping toasts best year for tonne-mile growth since 2010 The Red Sea shipping crisis – and to a smaller extent, the drought in Panama – have led to the strongest growth in tonne-miles registered this year since 2010, helping prop up rates to highly profitable levels for most shipping sectors. According to data from Clarksons…

  • EuroDry signs for ultramax newbuilds

    EuroDry signs for ultramax newbuilds Nasdaq-listed Greek dry bulk owner EuroDry has turned to a Chinese shipyard to expand and modernise its fleet. The Aristides Pittas-led company has contracted two ultramax newbuilds at Nantong Xiangyu Shipbuilding for delivery in the second and third quarters of 2027. EuroDry is paying $71.8m for both 63,500 dwt ships,…

  • Geneva Dry Dialogues: Nova Marine Carriers

    Geneva Dry Dialogues: Nova Marine Carriers Minor bulks are the most exciting segment in dry bulk, according to Vincenzo Romeo, CEO of Nova Marine Carriers, something that is just as well as the Italian is set to take the stage next April in Geneva Dry’s minor bulks session. “There are more origins and destinations in…

  • CDB Leasing offloads kamsarmax trio at auction

    CDB Leasing offloads kamsarmax trio at auction CDB Leasing has been tied to a triple kamsarmax bulker sale through an auction.  Multiple brokers report the Hong Kong-listed leasing unit of China Development Bank has offloaded the 2015-built CL Rizhao and the 2016-built CL Singapore and CL Tianjing for around $68.5m. VesselsValues estimates the ships between…

  • Geneva Dry Dialogues: Precious Shipping

    Geneva Dry Dialogues: Precious Shipping Making predictions in shipping is akin to chewing glass, Khalid Hashim, managing director of Thailand’s largest dry bulk owner, Precious Shipping. “Only the insane would do that,” he says, stressing: “Predictions in shipping are always wrong.” Nevertheless, when pressed to give his take on where the dry bulk markets will…

  • Asia and Europe on divergent coal paths

    Asia and Europe on divergent coal paths Global seaborne coal trades are being cleaved apart, with Asian economies taking more and more volumes while the West pulls back from the commodity.  According to data from AXS Marine, the volume of steam coal cargoes discharged at mainland Chinese ports in October reached 34.25m tonnes, up 15.8%…

  • Belships adds to ultramax orderbook

    Belships adds to ultramax orderbook Norwegian bulker owner Belships has expanded its newbuilding campaign with one more ultramax. The Oslo-listed company revealed in its quarterly earnings results the 64,000 dwt newbuild would join the fleet in 2027 and be named Belcargo. The Lars Christian Skarsgård-led outfit added the unit would be financed on a similar…

  • Diana Shipping charters out ultramax to Stone Shipping

    Diana Shipping charters out ultramax to Stone Shipping New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Stone Shipping for one of its ultramax vessels. Stone Shipping hired the 2018-built, 60,362 dwt bulker DSI Pyxis. The gross charter rate is $13,100 per day, minus a 5% commission paid to third…

  • UK electric inland vessel project secures government funding

    UK electric inland vessel project secures government funding Baird Maritime Go to baird maritime

  • A $1.3trn market opportunity drives into Asia

    A $1.3trn market opportunity drives into Asia Pushpank Kaushik, CEO of Jassper Shipping, writes for Splash today on electric vehicle adoption in emerging Asia. The electric mobility wave is transforming markets worldwide, but in Asia’s emerging economies, its impact extends deeply into social, environmental, and public health spheres. India, now the world’s largest market for…

  • New Scandinavian dry bulk player launched

    New Scandinavian dry bulk player launched Denmark’s Baltic Shipping and Risør Shipping of Norway have joined forces to launch a new dry bulk shipping player. Baltic Bulk has been officially introduced this week as a new dry cargo operator, freight trader and commercial manager specialising in the handysize and supramax market, but, how the company…

  • Why China’s changing diet matters

    Why China’s changing diet matters The Chinese switch from pork and how this is influencing dry bulk trades. Eating healthier and more nutritious foods and changing your diet for the better is the advice of every doctor you probably ever met. But what happens if a country of 1.4bn people changes its diet and how…

  • Winners and losers from Trump’s return

    Winners and losers from Trump’s return ‘Drill, baby, drill’ and ‘liquid gold’ were two of the phrases president-elect Donald Trump repeated during his victory rally in Florida yesterday and a common consensus is building among shipping experts that the Republican’s return to the White House will be positive for tankers, but less so for container…