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Norvic considers raising new capital

It is not unlikely that dry bulk operator Norvic Shipping will raise fresh capital within the near future. This would be spent on landing longer-term loading contracts with terms of up to ten years, CEO Peter Borup tells ShippingWatch.

Virus outbreak creates uncertainty in dry bulk

The coronavirus outbreak in China creates uncertainty in shipping – not least in dry bulk, which is already off to a difficult start in 2020. The situation has prolonged the Chinese New Year, and this can cause delays in the market, a brokerage firm tells ShippingWatch.

Dry bulk shipowners face challenging 2020

The dry bulk fleet grew significantly more than demand last year. And 2020 will also not become a savior for the strained dry bulk sector, according to observers and stakeholders. There is a need for political stability, Ultrabulk CEO tells ShippingWatch.

Shipowners' scrubber bet pays off in start of 2020

The price of low-sulfur fuel has increased significantly in 2020, and shipping companies with scrubbers installed are currently profiting on the price spread between high- and low-sulfur fuel oil. This is necessary in order to back the investment, says a dry bulk shipowner.

Bimco has found its new CEO

Interest group Bimco appoints new secretary general and CEO in the form of David Loosley, who is to start this summer. He will replace Angus Frew, who announced his departure last summer.

XO Shipping accuses Norden of running a scare campaign

XO Shipping's founder, Christian Levin, completely disagrees with Norden's description of a market in which customers choose large companies over small ones. "An attempt to start a scare campaign against smaller operators," Levin tells ShippingWatch.

Union Bulk hit boom: "It's gone much better than we hoped"

Newly launched dry bulk operator Union Bulk opened its doors shortly before the rates soared over the summer. The company expects a profit in its first year, though it has slowed down a bit ahead of an uncertain 2020, partner tells ShippingWatch.

XO Shipping on track for record in 2019

XO Shipping will finish 2019 with its biggest profit ever, CEO Alexander Sillehoved tells ShippingWatch. But it is still too soon to say how big the final result will be.

BW Dry Cargo's fleet grows to 20 ships

BW Group's bulk venture BW Dry Cargo will have a fleet of 20 ships when the last newbuilds are delivered from an order of nine ships in total. Asset play is the core of the business now and going forward, Managing Director Christian Bonfils tells ShippingWatch.

Orders for dry bulk newbuilds decline in 2019

Bulker shipping companies' orders for new vessels this year is currently at the second-lowest level since 2001, writes shipbroker Braemar ACM. The number of orders have dropped 30 percent compared to last year.

Project cargo to generate growth at G2 Ocean

Norway's G2 Ocean is now betting heavily on the project cargo segment, in which the merged shipping company has just opened two new offices. According to its CEO, project cargo attracts the main part of new customers.

Integrity Bulk's ship taken hostage in dispute about misdescribed cargo

A dispute concerning a misdescribed cargo meant that Integrity Bulk had to pay for a ship that was idle in the Philippines for some time. The dry bulk operator now expects to reclaim money from the shipper. The case resulted in a deficit in an otherwise solid 2018/19, says CEO. Corrected.

Scorpio Bulkers sells more ships

Dry bulk shipping company Scorpio Bulkers sells two ultramax bulk vessels for nearly USD 40 million. The money will be spent on, among other things, paying off debts.

Norden lays off 11 employees and outsources tasks

Shipping company Norden dismisses 11 employees, who are losing their jobs because technical operation of the company's dry bulk ships is being outsourced to a Singapore-based operation. This happens as a part of Norden's strategy to shift its business toward buying and selling dry bulk vessels.

Clipper Bulk buys three dry bulk ships

Danish dry bulk carrier Clipper Bulk has purchased three handysize vessels from an undisclosed seller. These acquisitions follow Clipper's ongoing ship sales that took place amid its extensive restructuring process.

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