The prospects for struggling owners and operators of multipurpose vessels are intertwined with especially dry bulk vessels which have poor hopes of higher rates anytime before the end of 2017, according to Drewry.
The current methods for testing whether a dangerous cargo is at risk of liquefaction during sailing are inadequate and should be changed, says the Association of Bulk Terminal Operators, citing various samples of cargoes which have become liquefied despite passing tests.
The dry bulk carriers, sore after several tough years, are becoming increasingly optimistic about the future. But Herman Billung, who recently established dry bulk investor Songa Bulk, praises the slowdown in the sector. "Another six months and we'll be home free," he says.
London P&I Club and two partners have issued new guidelines for sailings with dangerous cargo which can become liquefied if humidity levels are too high. Last Friday, Stellar Daisy was shipwrecked after sailing with category A cargo.
The legal process regarding liability for the wreck of Bulk Jupiter, in which 18 crew members were killed, has been concluded in a secret settlement. Signs point to the vessel's owner, carrier Gearbulk, and its insurance company winning out.
John Fredriksen's crude oil tanker carrier Frontline has given up its efforts to buy its way to a position as the world's biggest player in its segment. For now at least. The carrier bets on the benefits from its own fleet renewal, CEO Robert Hvide Macleod tells ShippingWatch.
Starting next month, Maersk Line's customers will be able to monitor where the carrier's reefer containers are located as well as the internal temperatures. This comes in response to requests from customers, says CCO.
The container carriers' higher freight rates do not constitute an actual problem for Danish freight forwarder Scan Global Logistics. But the CEO tells ShippingWatch that he hopes prices will soon stabilize.