Large dry bulk ships have in the past month seen earnings grow, surpassing more than USD 25,000 per day per ship. This is more than five times what supertankers are currently making.
Mats Berglund steps down as CEO of Hong Kong-based dry bulk operator Pacific Basin. He will be replaced by Ultragas Chief Executive Martin Fruergaard, says the shipping company.
Scorpio Bulkers has been selling off ships in the past four months as part of its exit from the dry bulk sector. A total of 26 ships have gotten new owners, most recently two ultramax vessels.
Coronavirus restrictions are tightening across the world, and the situation is close to where it was in the spring last year, says ship management major OSM Maritime. New lockdowns would be bad news for several markets, says analyst.
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.
Dry bulk index Baltic Dry grew 10.9 points Friday. Both Golden Ocean and Belships believe in an improved dry bulk market for the coming two years.
.jpg)
The conflict between China and Australia, which prevents dry bulkers from offloading their Australian coal cargoes in China, continues unabated with no solution in sight. At present, 71 vessels are stranded while crews are calling on authorities to intervene. Things have gone from bad to worse, says Bimco.
The Monaco-based company headed by Robert Bugbee plans to ditch the name Scorpio Bulkers as part of its strategy to exit the dry bulk market and instead go all in on the market for green energy and offshore wind.
.jpg)
Everyone will be watching to see when the coronavirus vaccines start to really have an effect. But beyond this, there are several decisive issues to keep an eye on during the year, which could have a big impact on shipping, logistics and offshore. ShippingWatch provides an overview.
A 20-day labor strike in Argentina is over, after the disputing parties have reached an agreement, reports Reuters. 162 dry bulk vessels were hit.
The CEOs of Golden Ocean and Belships expect to see better times for the dry bulk market in 2021 and 2022, reports Finansavisen.
.jpg)
Maersk's break from major German customer DB Schenker and the cyber attack on CMA CGM attracted the most readers on ShippingWatch in 2020. In an unusual year characterized by the coronavirus pandemic, other big stories were the red-hot container market, Søren Toft's start at MSC and a large-scale reorganization at Maersk.
Striking workers demanding higher wages prevent upwards of 140 dry bulk ships in Argentina from being loaded with soybeans, among other cargoes, for export, reports Reuters.
A large number of ship deliveries will create challenges for the dry bulk market in the next nine months, projects Danish Ship Finance in its biannual market review. But the shipping bank sees positive signs from mid-2021.
Clipper adds two ships to its owned fleet. The dry bulk operator's new CEO recently hinted at new acquisitions after large divestments in recent years.
Market Research Analyst – Ultragas
Data Engineer - Ultrabulk
