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Investment bank lowers forecast for dry bulk significantly

Despite a recent recovery for capesize, investment bank Cleaves Securities cuts its growth forecast in half for the Baltic Dry index in the coming months. For the biggest ships the investment bank now projects negative demand growth this year.

Clarksons Platou warns of unemployed bulk vessels

While many observers believe that the bottom has been reached for the strained capesize segment, Clarksons Platou warns that rates do not have to go much further down before shipowners will have to let their ships idle.

Genco gets approval for scrubber loan

Dry bulk carrier Genco has secured a new loan of USD 35 million, which will be used to finance some of the company's expenses for scrubbers in 17 capesize.

Shipbroker: Strained capesize market has hit rock bottom

Fearnley Securities sees signs of the strained capesize segment having hit rock bottom, with rates now being lower than in smaller segments. "March should result in an imminent market upturn for the biggest ships," the shipbroker writes.

Investment bank confident in imminent dry bulk market boom

While there are a fair number of pessimists when it comes to dry bulk rates, there are also those who are confident in an impending boom. For instance, Cleaves Securities' chief analyst projects a significant upturn in the second quarter following an "abysmal" start to the year.

Golden Ocean eyes uncertain dry bulk market

Golden Ocean booked a profit in the fourth quarter but is currently navigating in an uncertain dry bulk market, in which the Vale accident has made an impact. Sentiment is negative, says CEO Birgitte Vartdal.

Cargill fears dramatic plunge in dry bulk demand

One of the world's largest commodity traders, Cargill, which operates more than 500 ships, has changed its view of 2019 radically within just a few months. Dry bulk demand could go negative this year for the first time in many years.

Ken Bloch Sørensen steps down as CEO

Ken Bloch Sørensen has stepped down as CEO of Canadian carrier Algoma Central Corporation after leading the company for four years. The carrier has a new CEO.

J. Lauritzen confident of bulk profit despite bad market

After more than 20 years abroad, first at Maersk and then Torvald Klaveness, Niels Josefen will return home to Denmark to serve as J. Lauritzen's new CEO of Lauritzen Bulkers. He expects that the carrier will already be able to land its first profit in bulk since 2010.

Norden: "The market has pretty much collapsed"

The dry bulk rates have been rattling down to such an extent that Norden's head of dry cargo, Christian Vinther Christensen, tells ShippingWatch that the market has "pretty much collapsed" in recent weeks. This downturn is the result of a toxic cocktail, he explains.

Usikkerheden er den største skurk i presset tørlastmarked

Baltic Dry-indekset er halveret siden midten af 2018, og selv om sæsonudsving er at forvente, vurderer både Bimco og Braemar ACM, at handelskonflikt og en skidt balance trækker tørlastmarkedet ned. For operatøren Norvic er usikkerheden det værste, fastslår CEO Peter Borup over for ShippingWatch.

Trusted employee lost millions in Western Bulk

A trusted employee in Chile entered long-term loss making contracts on behalf of Western Bulk, shows the company's 2018 financial report. The bulk company did, however, book a profit for the whole year.

Dry bulk shares plunged in turbulent 2018

The dry bulk market has gone through a year of fluctuating rates and equally fluctuating stock prices. The end of 2018 in particular has been hard on the pacesetting dry bulk shipping companies, which in the final quarter of the year saw shares dive almost 40 percent.

This week's top stories on ShippingWatch

The collapse of Hamburg carrier Hansa Heavy Lift, the bunker sector in Singapore, Maersk's credit rating downgrade as well as a temperature reading of the tanker and dry bulk markets were some of ShippingWatch's big stories this week.

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