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Golden Ocean reports small profit for Q3

Dry bulk carrier Golden Ocean achieved a profit of USD 400,000 in the third quarter, shows the interim report Tuesday morning. The carrier has implemented a series of initiatives aimed at maximizing utilization of the market, says CEO Birgitte Ringstad Vartdal.

Lauritzen CEO: On the right track, but it will take time

Dry bulk carrier J. Lauritzen finished the third quarter with an operating deficit of USD 9.8 million. Positive with a better dry bulk market, but the carrier is still some way off from turning a profit, CEO Mads Zacho tells ShippingWatch.

Norden CEO: This result marks a significant shift for Norden

Norden has not been profitable since 2011, and for the carrier's CEO Jan Rindbo, it would be a milestone to bag a profit for the full year. With a positive result and upgraded guidance in the third quarter, Norden is on the right track, he says in an interview with ShippingWatch.

Norden's bulk business profitable again

Danish dry bulk and tanker carrier Norden achieved a profit in the third quarter. The dry bulk business is profitable again and the carrier upgrades its guidance for 2017.

Scorpio Bulkers buys four ships

Shortly after a failed attempt at raising capital, Scorpio Bulkers buys four vessels for a total USD 90 million. One vessel will be paid for in stock.

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.

This week's top stories on ShippingWatch

China builds strength in the improving container sector, banks clean up the multipurpose fleet, Danish OMT carries out large-scale layoffs, and several disputes in the bunker sector characterized this week on ShippingWatch.

Impairment drags Genco further down

Dry bulk carrier Genco Shipping & Trading saw its deficit deepen in the third quarter after booking an impairment, though stronger rates drove revenue up. CEO eyes improving market fundamentals in dry bulk.

More than 100 distressed MPP vessels redistributed by banks

Unprofitable multipurpose vessels, which German banks are left holding, are being moved around big-time among shipowners. "We're basically competing against zombies these days, which exist with continuing support from the banks," says one market player.

New MPP behemoth created in all-time low market

"We will be difficult to match," says BBC Chartering Chief Exec Svend Andersen of the partnership with Dutch Jumbo Shipping. A collaboration that was created under toxic market conditions where a consolidation seems to be developing slowly.

Intercargo calls for extreme caution in relation to high-risk cargo

Following the wreck of dry bulker Emerald Star, after which 10 seafarers remain missing, Intercargo calls for extreme caution when transport high-risk cargoes such as nickel ore, and the association urges for an accident report to be submitted to the IMO as quickly as possible.

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