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Read all the latest news about Dry bulk crisis. ShippingWatch gives you independent, credible, critical and fair news.

Dry bulk industry only halfway through the crisis

Although things are improving in the dry bulk sector, profitability is still far off. Fearnleys estimates that the carriers have only come halfway through the crisis. However, 2019 could bring a much-needed boost to the sector.

Bulk shares have surged in 2017

Investors are now also thought to believe in a stable recovery in bulk, where the largest shares have been through significant price increases throughout 2017. One carrier in particular has experienced a huge price increase.

Star Bulk cements progress in bulk

One of the largest listed bulk carriers on Wall Street, Star Bulk Carriers, continues to show red figures on the bottom line, but earnings and net revenue have increased significantly.

Clarksons: Uncertainty spreads in bulk

Analyst firm Clarksons believes that "unabated optimism" in the dry bulk market earlier in 2017 has been replaced by more uncertainty and falling dry cargo values. Nevertheless, the analyst firm does not see cause for concern.

The dry bulk carriers lost billions again in 2016

An review of losses across several leading bulk carriers, carried out by Alphabulk, shows that the bulk crisis struck the industry hard again last year. The research firm has also put a figure on total accumulated losses since 2010 – and it is big.

Dry bulk rate hike comes to an end

The bulk recovery which began in November is now definitively over. The Baltic Dry Index has fallen tremendously since its high point in the middle of November and has now reached the same level as when the recovery began. 2016, however, comes to a close amidst industry optimism.

Oldendorff's fleet expanded big-time in 2016

German carrier Oldendorff and Cargill Ocean Transportation have shared the title of world's by-far largest bulk operator with fleets of approximately 500 vessels. But Oldendorff has expanded heavily in 2016 in terms of fleet size, according to new numbers.

Experts agree: Worst crisis in 30 years

Shipping, offshore, oil and gas – the entire industry is facing problems so severe that the banks have the power to decide who will survive. Extreme overcapacity is not the only challenge. The banks are also under pressure to reduce their exposure to the maritime sector.

Investors regaining faith in dry bulk

Hopes that dry bulk will experience a comeback are slowly beginning to emerge throughout the ailing bulk sector. Benchmark bulk shares have increased over the past week, writes Clarksons Platou. Donald Trump's construction plans could also boost US steel imports, observers project.

Bimco: Dry bulk sector must adapt to survive

The crisis in the dry bulk sector is so far-reaching that shipowners will have to make significant changes if they hope to survive on the long-term, writes Bimco in a new report. Consolidation and risk management will be key for the dry bulk owners in the new reality, notes the association.

Star Bulk braces for a prolonged bulk downturn

Carrier Star Bulk came out of the second quarter with a smaller deficit on the bottom line, and the company has secured postponement of more than USD 200 in debt until 2018. The carrier is bracing itself for a prolonged downturn in bulk.

KfW IPEX exec: No sign of the good times returning

China's role as the global growth engine driving prosperity was a one-off affair, says Carsten Wiebers, head of maritime business for German KfW IPEX-Bank. For world trade to take off, the world's poorest need a bigger share of global wealth, he says.

Nine bulk carriers lost USD 721 million in six months

The major bulk carriers listed in the US had a miserable first half of the year with a massive aggregate deficit, according to review by Alphabulk. The companies look set to lose over one billion US dollars in 2016.

Shipbroker: Hundreds of new bulk vessels in 2016

Several hundred dry bulk vessels will be delivered from shipyards in the remaining months of 2016. At the same time, yards are offering low newbuilding prices in order to lure in customers to place orders in a miserable market, writes Allied Shipbroking.

Banks call for German carrier to sell fleet

Carrier Marinave Schiffarhts is currently negotiating with its banks for a restructuringplan. The banks now point to a sale of the entire fleet as a solution. A step in the right direction, CEO Ole Daus-Petersen tells ShippingWatch.

All-time low dry bulk market hits Norden with deficit

The all-time low dry bulk market sends Norden into the red with a combined deficit of USD 5 million in the first quarter compared to a profit in the same period last yea. The carrier projects a full-year result in the range of a USD 60 million loss to a USD 30 million profit.

Accountant casts doubts on Dryships' survival

Several lenders are now criticizing Greek-based Dryships for defaulting on loans and breaching lending covenants. Negotiations are underway, but Dryships cannot guarantee that the talks will be fruitful.

Squeezed carrier sells dry bulk vessels for 1 USD apiece

The extreme conditions on the bulk market are now impacting carrier Goldenport's performance on the London stock exchange. Six of the carriers' eight dry bulk vessels have been sold for the fire sale price of one US dollar apiece.

J. Lauritzen has sold it stake in Hafnia Tankers

Struggling J. Lauritzen has sold its 5.3 percent stake in highly profitable Hafnia Tankers as part of a trade with its owner, Lauritzen Fonden. The tanker carrier pays USD 31 million in dividends to its shareholders.

Jens Ismar rejects all accusations of foul play

When Kistefos Equity Operations took over Western Bulk Chartering from Bulk Invest, it all happened by the book, says CEO Jens Ismar in an interview with ShippingWatch. Kistefos had left the room while the board discussed the price and sale of Western Bulk Chartering, he says.

DryShips' deficit skyrockets

Greek dry bulk carrier, DryShips, has not been able to escape unscathed from the dry bulk crisis, and the carrier has booked big deficit due to impairments. The company has stopped making payments on its debt and is currently negotiating a restructuring.

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