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Bimco: Alarmingly weak bulk vessel scrapping activity

Bulk:

A large number of new vessels are headed into the dry bulk market in 2017 and 2018, which creates a major need for scrapping if the sector is to stand any chance of being profitable in 2019, warns Bimco.


BY DANIEL LOGAN BERG-MUNCH
Published 02.01.17 at 13:11

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Most read Bulk

Analysts: Dry bulk shares will be winners in 2017

NORD POWER(A)L.JPG Bulk:

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.

Multipurpose operators to expand fleet in new joint venture

Bulk:

New Dutch multipurpose joint venture Shipping Company Groningen, which includes Thorco Project, has growth ambitions in spite of the challenges currently plaguing the segment. ShippingWatch has interviewed one of the architects behind the venture, CEO Jan van der Laan.

JP Morgan: Dry bulk market will be even worse in 2016

Bulk:

In a new report, investment bank JP Morgan points to bleak prospects for the dry bulk sector in 2016. Read on to learn what the bulk carriers are up against next year.

Boost for Scorpio Bulkers in the first quarter

Bulk:

Bulk carrier Scorpio Bulkers' earnings more than tripled in the first quarter, but the carrier is still sailing with losses on the bottom line. The carrier has made a USD 17 million impairment on ship values.

Bimco: China will be driver of the bulk market this year

Bulk:

China is building its infrastructure and this constitutes the dominant factor in the development of the dry bulk market this year, Bimco writes in a new analysis. Brazil is playing an increasingly larger role in the transportation of iron ore.

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.

Current front page

Maersk Line to pay EUR 3.7 bln for Hamburg Süd

hamburgsud4.jpg Container:

Maersk Line will pay EUR 3.7 billion for German container carrier Hamburg Süd. The boards of directors at the two companies have now cleared the transaction, which is expected completed in late 2017.

Aker BP drills its way to impressive result

Offshore:

Last year's merger of Det Norske and BP seems to have paid off. The resulting company, Aker BP, is now raking it in.

OOCL grew its volumes in the first quarter

Container:

Orient Overseas Container Line, OOCL, carried more containers in the first quarter, but the prices have been somewhat under pressure since the beginning of the year.

US shale boom puts pressure on the entire industry

Tanker:

US shale oil is now being produced at such a rate that it could threaten the stability currently enjoyed by the sector, projects Rystad Energy. One of the major suppliers of offshore rigs, shipbuilder Keppel, does not see a recovery anytime soon.

Japan's three major container carriers believe in 2017 gains

Container:

The three major Japanese container carriers: MOL, NYK Line, and K-Line, which are poised for a merger, all have faith in advancements this year, as indicated in their annual reports published Friday morning.

Belgium's Exmar calls off purchase of Dutch gas fleet

Tanker:

Gas carrier Exmar went red in the first quarter in the weak LPG market where too many vessels are undermining an otherwise historically strong US gas export. The carrier has also called off negotiations to acquire a Dutch FSRU fleet.

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