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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.

Lower economic growth could slow bulk market

Even though the dry bulk market has experienced growth and stronger rates in recent weeks, several uncertainties could make the development turn around, says Vessels Value in an update.

Pacific Basin's profit in significant setback

Dry bulk shipping company Pacific Basin saw its profit slide by more than 70 percent in the first half of the year compared to the same period the year before. But TCE rates ensure that the bottom line remains positive, writes the company in its interim report. Updated.

Eagle Bulk to acquire six vessels

Dry bulk shipping company Eagle Bulk is to buy six new ultramax ships, and to prepare, the company will now issue bonds worth over USD 100 million over the next four years.

Dry bulk rates reach highest level in five years

The Baltic Dry Index, which measures dry bulk freight rates, reached its highest level in five years Monday. Following several difficult years and a surprisingly poor start to 2019, optimism is starting to spread.

Bimco turns its back on Baltic Dry

Baltic Dry has changed to such an extent that the index no longer serves as a proxy for the dry bulk sector overall, says Bimco Chief Analyst Peter Sand, who thus takes down an institution in the shipping sector.

Baltnav diversifies business after busy 2018

Danish bulk operator Baltnav had a busy 2018 with increased profit. The company will soon open an office in South America and is also pursuing partnerships in segments such as ship management.

Golden Ocean expects new deficit

Dry bulk ship operator Golden Ocean finished the first months of the year with a bottom line deficit that is USD 31 million worse than last year. This trend could continue in the second quarter, expects the company.

Former TKB owners behind new dry bulk operator

Two former co-owners and an employee of TKB Shipping have founded dry bulk operator Union Bulk. "We all think it would be exciting to build something up from the ground," one founder tells ShippingWatch.

Goodbulk reports a new profit despite weak dry bulk market

Dry bulk ship operator Goodbulk defied weak conditions in the first quarter, which became the company's eighth consecutive profitable quarter. But the result was a setback compared to last year, and even though the company is currently noting market improvements, there is still significant uncertainty.

Brazilian court closes second-largest Vale mine again

A Brazilian court has invalidated Vale's permit to reopen the company's second-largest mine after the accident in January. The decision has already impacted spot rates in the capesize segment and could, according to analysts, turn recent positive momentum around.

The start to 2019 cemented Clipper Bulk's future

Clipper Bulk has long been struggling financially. But the sudden downturn on the dry bulk market in the first quarter of 2019 demanded instant action, tells CEO Peter Norborg in an interview with ShippingWatch following mass layoff.

Scorpio Bulkers starts 2019 with yet another deficit

The first quarter of 2019 ended with another deficit for dry bulk company Scorpio Bulkers, although the deficit was slightly smaller than the deficit from the first three months of 2018, shows the company's interim report.

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