Shipping organization Bimco predicts a tough outlook for the dry bulk sector, in which trade war and swine fever have caused Chinese imports of soybeans to drop significantly this year.
Rates on large dry bulk vessels have surged following a stronger iron ore trade in May. On the other hand, the market is tougher for smaller segments, according to shipbroker.
Only one surviving member of an 18-person crew has been found in the aftermath of dry bulk ship Limas Timur sinking near Indonesia on Saturday. The rescue operation continues.
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.
Norway's Torvald Klaveness has reduced its activity in the dry bulk market following a tough start to 2019, when several factors have dragged down the market. "We're a bit uncertain as to where the market is headed," CEO Lasse Kristoffersen tells ShippingWatch.
Dry bulk operator Oldendorff has entered agreements on 23 vessels with Chinese leasing companies in the past 12 months, the shipping company announces in a statement.
The sudden drop in dry bulk rates at the start to 2019 has impacted J. Lauritzen, and the low level has continued into the second quarter. Today, day rates are approximately USD 3,000 away from break-even for the shipping company, CEO Mads Zacho tells ShippingWatch.
Star Bulk Carriers buys 11 dry bulk ships from a US-based equity fund. The ships are built between 2012 and 2014, and the sale brings the Greek shipping company's fleet to 120 vessels.
The outbreak of African swine fever in China is set to affect so many soybean-fed pigs that it will impact freight needs significantly, say Klaveness and Norden. Right now, the situation is a bigger challenge than the trade war, says Norden's CEO.
Despite growth in revenue, Greek dry bulk carrier Star Bulk finishes the first quarter with a deficit on the bottomline.
A more cautious approach resulted in a lower bottom line for XO Shipping in 2018. Chairman Kent Hedegaard tells ShippingWatch that the company's strategy was a success despite the reduced profit. Updated.
Nordic Bulk Carriers finished 2018 with its best results yet on the top as well as the bottom line – despite the fact that "rates are near their lowest point since 1985," as the company notes in its annual report.
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.
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.
Dry bulk operator XO Shipping has gone from a record profit in 2017 to a modest profit in 2018. And the result does not meet expectations, says management.
Executive, Operations - BW LPG
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
