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Pacific Basin CFO will step down in 2017

Bulk:

Hong Kong-based dry bulk carrier Pacific Basin will be hiring a new CFO before the end of 2017. Andrew Broomhead, who currently services as chief financial officer, has announced his departure.


BY DANIEL LOGAN BERG-MUNCH
Published 09.01.17 at 14:02

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Ultrabulk vessel detained in Panama

Ultrabulk31.jpg Bulk:

A vessel from carrier Ultrabulk loaded with phosphate has been detained in Panama. Ultrabulk is breaching international laws, says NGO. The cargo is legal, says Ultrabulk CEO Per Lange, who is backed by association Danish Shipping. The vessel has been released Monday.

Jinhui Shipping suffered new deficit in Q1

Bulk:

The first quarter 2017 brought the Oslo-listed dry bulk carrier a deficit of USD 8 million after taxes, though this represents a significant improvement from the first quarter 2016.

Analysts: Dry bulk shares will be winners in 2017

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.

Ultrabulk CEO: Dangerous imbalance in dry bulk

Bulk:

There are the optimists in dry bulk, who believe that a recovery is in progress. And then there are the ones who believe that it will likely be 2018 before the market is healthy again. And then there is Ultrabulk CEO Per Lange, who simply points to an imbalance that is hard to ignore.

Million dollar fees for owners hit Scorpio

Bulk:

Two of the shipping industry's most renowned carriers, Scorpio Bulkers and Scorpio Tankers, are paying out huge fees to related parties. "Unfortunate and burdensome for companies and shareholders", says Deutsche Bank.

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.

Current front page

New shipping fund with Maersk players makes first acquisition

Henrik Ramskov.jpg Tanker:

Navigare Capital Partners, a new investment company targeting the shipping industry, has made its first investment in two product tankers. "We will invest in different segments," CEO Henrik Ramskov tells ShippingWatch.

Norway to accelerate oil drillings in the Barents Sea

Offshore:

Norway's minister for petroleum and energy wants to facilitate new drillings in the Barents Sea as soon as possible to make sure that Norway does not lag behind in the Arctic race against Russia.

Iraq paves way for OPEC deal with support for 9-month extension to cuts

Offshore:

One of the last remaining obstacles to forming a deal at the OPEC meeting in Vienna this week has been removed. Now Iraq will back a Russian and Saudi Arabian proposal to extend oil output cuts for 9 months.

Concordia CEO welcomes tough tanker year

Tanker:

Concordia Maritime's CEO is confident that his carrier is well padded for a challenging year in product tanker. And the Swedish carrier is watching the second-hand market, he says.

Seadrill's market value has plunged big-time in 2017

Offshore:

The share price of John Fredriksen's drilling company Seadrill has declined drastically since the turn of the year. Ahead of the interim report set for release Wednesday morning, analysts note that the company has been unable to settle its announced restructuring.

Lightship returned to profit in 2016

Services:

Shipbroker Lightship delivered a profit for 2016 and thus eradicated its deficit from 2016. The company anticipates an even better 2017.

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