Norwegian bulk carrier Golden Ocean expects that the bulk market will perform slightly better than in 2016 which saw a historic downturn back in February. However the carrier does not see signs of a recovery.
BY RITZAU FINANS Published 12.01.17 at 10:20
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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.
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 ailing multi-purpose and heavy lift sector could tumble further down next year, for which very few contracts have been signed so far, according to assessments from operators. Drewry downgrades its already weak forecast.
Deficits on owned ships and a completely collapsed heavy lift market gave Thorco Shipping a significant financial beating in 2014. "The heavy lift market has collapsed completely," chairman Thor Stadil tells ShippingWatch.
Hapag-Lloyd has launched the process to streamline UASC and execute its redundancy plan. Rumors are circulating at the soon-to-be former HQ of the Arabic container carrier in Dubai. ShippingWatch can present the new regional manager who will effectively replace UASC CEO Jørn Hinge.
Maersk Group CEO Søren Skou says in an interview with Bloomberg TV during the Davos summit that he thinks the most likely scenario for the group's energy business is an IPO. Søren Skou also projects increasing global trade.
Thornico group's dry bulk carrier Thorco Bulk has built up enough revenue after just six months that it will now expand by hiring more employees. The carrier will gain its own CFO, says Managing Director Marc Slinger to ShippingWatch.
Damen Shipyard, the largest shipbuilding group in the Netherlands, was subjected to a dawn raid this week by the country's tax authority. According to several media reports, the raid is part of investigations into a case related to corruption and bribes.
Iceland Seaman's Union believes a new deal with Eimskip now secures employment for members. The crews on board the carrier's vessels will be the focus of attention among Danish navigators when Eimskip and Royal Arctic Line launch their partnership in the North Atlantic.