After a somewhat solid beginning of the year, dry bulk carriers now face a more uncertain period in the short term, says Maritime Strategies International. Earnings will largely depend on factors beyond the carriers' control.
The International Maritime Organization is now urging dry bulk carriers to exhibit extreme caution when transporting bauxite, which can liquefy during voyages. However, the official rules will not be updated until 2019.
Police in South Korea have raided Polaris Shipping's offices in Seoul and Busan. Investigators are hoping to find new information concerning the cause of the tragic accident in April in which the carrier's vessel, Stellar Daisy, sank in the South Atlantic.
Danish shipping group Weco got almost 20 years as an operator in the multipurpose market. In an interview with ShippingWatch, Chairman Johan Wedell-Wedellsborg explains why it was time to think outside of the box and sell Nordana Project to German Rickmers-Linie.
Two managers from J. Lauritzen's office in Singapore have switched to competitor Baltnav, which is set to open an office there in early September this year. This marks the latest in a series of changes in J. Lauritzen's organisation.
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.
Eight vessels from North Korea, currently subject to sanctions, have this year loaded oil cargoes in Russia, with China and South Korea listed as their destination. But the course was changed at a later point, reports Reuters.
Nordic bank Nordea is currently reviewing guidelines for shipping customers regarding hazardous vessel scrapping. Danske Bank is also evaluating the issue of carriers' scrapping in Asia, the banks tell ShippingWatch.