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Bulk

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.

Hansa Heavy to shut down in March

Hansa Heavy Lift will close down shop for good in March, the interim administrator tells ShippingWatch. The ship operator filed for insolvency in December 2018.

"We don't know how the new fuels will perform"

Less than 11 months from now, J. Lauritzen will start to tank new low-sulfur fuel in order to ensure compliance with the new sulfur regulations. But the shipping company does not yet know how the new fuels will react.

Norvic Shipping appoints new CFO

Norvic Shipping has appointed a new CFO. Chief Executive Peter Borup has been working on setting up a new management team since joining the carrier in mid-2018.

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.

Golden Ocean declines after tragedy in Brazilian mine

A tragic accident at a Brazilian mine operated by Vale which cost 84 lives has impacted the share price for Norwegian bulk carrier Golden Ocean. The company lost a fifth of its market value this week, reports Norwegian business daily Dagens Næringsliv.

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.

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