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Dry bulk carriers' aggregate loss exceeds USD 1 billion

Bulk:

The nine major New York-listed dry bulk carriers have in the first three quarters of the year lost a billion dollars in total. Not one of the carriers has made a profit in even a single quarter, according to a survey from Alphabulk.


BY LOUISE VOGDRUP-SCHMIDT
Published 08.12.16 at 15:14

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Most read Bulk

Golden Ocean sells six dry bulk vessels

Golden ocean 1.JPG Bulk:

John Fredriksen's dry bulk carrier Golden Ocean has agreed to sell six dry bulk vessels. The sale strengthens the carrier's focus on Capesize and Panamax, says CEO.

J. Lauritzen CEO: The carrier's future is smaller vessels

Bulk:

J. Lauritzen will gradually phase out larger dry bulk vessels when their contracts expire. "We're strong in Handysize, and that's where we've historically been the most profitable," CEO Mads P. Zacho tells ShippingWatch.

Dry bulk shipowner: Ship values have risen too much

Bulk:

CEO of Norway's Berge Bulk does not think that the medium/long-term prospects in the dry bulk market are particularly positive, despite high levels right now.

Thorco owner withdraws guarantees for vessels in Thorco

Bulk:

Thor and Christian Stadil have for years supported the severely loss-inducing vessels of carrier Thorco. But the family will no longer do so, reveals Thor Stadil to ShippingWatch.

Oldendorff has no ceiling, dress code or executive offices

Bulk:

All executives have day-to-day jobs – and no one has his or her own office. At one of the world’s largest dry bulk operators, Oldendorff Carriers, things are markedly different than the shipping industry is used to.

SAL Heavy returns six vessels to German flag

Bulk:

After Germany's Harren family decided to buy SAL Heavy Lift from Japanese K-Line, six of the vessels are now being returned to German flag.

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Maersk Line gets vital approval for Hamburg Süd purchase

201212_NAVIOSHAMBURSUD02.jpg Container:

Brazil has cleared Maersk Line's billion-dollar acquisition of German Hamburg Süd. The transaction will strengthen Maersk Line's position on the South American market, and the approval is thus vital.

J. Lauritzen CEO: The carrier's future is smaller vessels

Bulk:

J. Lauritzen will gradually phase out larger dry bulk vessels when their contracts expire. "We're strong in Handysize, and that's where we've historically been the most profitable," CEO Mads P. Zacho tells ShippingWatch.

Demand for sulfur oil could boost US crude exports

Offshore:

The upcoming cap on sulfur emissions from vessels will boost the export of US crude oil, as the demand for low sulfur products will surge, reports Reuters.

Statoil vies for a stake in Abu Dhabi's offshore oil

Offshore:

A Norwegian diplomatic dispatch says Statoil is among the companies in talks with the Abu Dhabi National Oil Co regarding offshore production in the UAE.

Viking Supply needs owner's help to save bank agreement

Offshore:

Viking Supply Ships must ask its shareholders for more money after the offshore carrier breached the conditions of its deal with the banks. The carrier's majority shareholder is prepared to step in.

Two seafarers arrested as ship runs aground

Carriers:

A Danish-operated vessel ran aground in Sweden this weekend. The captain and first mate were subsequently arrested by Swedish police, on suspicions of being highly intoxicated.

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