Martin Fruergaard has presented his key strategy in his first public appearance as the new CEO of Hong Kong-based Pacific Basin. The dry bulk operator has posted unusually strong half-year results on the back of a market upturn that by all appearances has only just begun.
Tor Olav Trøim has raised around USD 30 million for his new dry bulk venture Himalaya. The funds have been sourced from Norwegian and international investors and will be spent on the first shipyard payments, reports Finansavisen.
Christopher Fjeld founded Sterling Shipping with no prior experience in the segment. Now he hopes that the upturn in dry bulk will lead to financial returns. The key is a simple strategy, says the Sterling Shipping CEO who has shelled out NOK 311 million for new ships in the fleet.
After 12 years of bankruptcies and brutal restructuring, the German shipping industry has turned a corner. A booming container market and positive signs in many parts of the industry indicate that German shipping is on a strong rebound.
Coal is in high demand in China, and by all appearances, the appetite for coal will not abate in the coming months, benefiting dry bulk operators. Norden and Lauritzen note how the Chinese coal policy – in addition to its import ban from Australia – serves to strengthen an already strong market. Clarified.
Gearbulk has completed the renegotiation of charter contracts with Japanese shipowners, the carrier informs ShippingWatch after announcing cost saving measures last year as a result of a rough dry bulk market.
Maersk Broker benefits from the upturn in container and dry bulk that characterized the first quarter. "A very reasonable way to start off the year," says CEO Anders Hald in an interview with ShippingWatch. For 2021 he expects a significantly better result than last year.
With soaring capesize rates and a dry bulk market in long-term upturn, Golden Ocean sees its bets in the market paying off. The CEO expects to remain exposed to the spot market in 2021. The unusual market is in clear contrast to this time last year, when Andersen entered the CEO office at Golden Ocean.
While several dry bulk players report of great progress, dry bulk operator Ultrabulk sets forth a more cautious approach. "We probably didn't profit optimally in the first quarter," says CEO Per Lange to ShippingWatch.
Danish Ship Finance sees significant progress for the dry bulk market in the short term. But changes in China's demand could weaken the market in the long term for large and medium-sized ships, predicts a new analysis.
Canadian Norvic Shipping, headquartered in Denmark, has seen an "amazing start to the year" for dry bulk, says COO Michael Fenger to ShippingWatch. But the Covid-19 crisis continues to be a source of uncertainty, most recently in the form of India's lockdown.
Dry bulk company 2020 Bulkers saw its result improve significantly in the beginning of 2021 compared to the same period last year. The progress in ships earnings have continued into the second quarter, according to the company.
Shipping group d'Amico reshuffles the management of its Dry Cargo business and appoints Cesare d'Amico as new CEO of the business unit. He hopes dry bulk is headed for recovery after years of uncertainty and volatility.
The leading Baltic Dry Index for the dry bulk market is at its highest in 10 years. Most recently, capesize has skyrocketed on an extraordinarily strong Chinese import, according to shipping organization Bimco.
Surprisingly high demand and a record low orderbook could result in a "super-cycle" for the dry bulk market, assesses Cleaves Securities, and points out that dry bulk shares may skyrocket in the coming year.
Ship operator Eagle Bulk plans to continue expanding and renewing its fleet, CEO Gary Vogel tells ShippingWatch following the acquisition of a number of ships. A record-low order book, caused by environmental regulations and the prospects of a prolonged upward cycle, makes the CEO optimistic.
Major dry bulk carriers such as Star Bulk, Oldendorff and Golden Ocean have for months had ships loaded with Australian coal idled off China. The situation is completely unprecedented, Star Bulk president tells ShippingWatch, while Golden Ocean is now able to change the crew on board a single vessel.
Dry bulk operators can now look forward to several golden years that are set to begin already now, projects Cleaves Securities. This is driven by a combination of few new ships and a large Chinese appetite for iron ore, the investment bank tells ShippingWatch.