Either the dry bulk rates will rise this year or the supply of vessels will decline, enabling rates to go up next year instead. Regardless of the journey to get there, the future looks bright for struggling bulk carriers, according to J.P. Morgan and Danske Bank.
After a brutal start to 2016, it now seems that 2017 will be a much better year for dry bulk carriers such as Norden and Golden Ocean, which currently boast positive recommendations from Danske Bank as well as Clarksons Platou.
The recovery seen late last year was not the beginning of a comeback for the dry bulk market, warns Maritime Strategies International. The analyst firm projects yet another year of low rates, for Capesize and Panamax in particular.
US-based multi-purpose carrier Intermarine, which merged with Scan-Trans in 2012, has changed its business model and now holds the sector's largest orderbook. Too much poor tonnage in the market, says Ask Michael Munck, Managing Director Worldwide Chartering Services, Intermarine, in an interview with ShippingWatch.
The container carriers divided themselves into three major alliances during 2016, and in April these alliances will start to battle it out on the industry's key tradelane from Asia to North Europe. SeaIntel tries to pick a winner among 2M, Ocean Alliance, and The Alliance.
The European Community Shipowners' Associations, ECSA, has voiced fierce criticism toward the EU's list of approved ship recycling facilities. But the association is now taking a more positive stance, viewing the list as a means that can help ensure implementation of the Hong Kong convention.
The countries behind the agreement to reduce the oil output have so far been able to cut production by 1.5 million barrels per day. This happens while the number of active oil rigs in the US is on the rise, notes Global Risk Management.
Svitzer will more than double the number of tugs under Brazilian flag, so that the fleet will reach ten vessels by the end of the year. The Maersk Group's carrier is also expanding its Brazilian business, which has secured two new execs.