Clipper’s Danish company Clipper Group, which includes RoRo carrier Seatruck Ferries, has turned red figures into the biggest profit in five years. The large dry bulk business, which Clipper does not disclose any numbers for, has progressed the last year and a half, says top exec.
With a result after tax of USD 41.1m, profit increased vigorously for dry bulk operator Navision last year. Top management expects a fine 2022, however, ”not comparable to 2021.”
Dry bulk operator Belships has acquired two new ships for a price of USD 15.5m.
A number of leading employees in Maersk Broker’s dry bulk company, MBBC, including CEO Frank Mortensen, have left their positions within short time. Mortensen believes he has been fired, however, Maersk Broker’s CEO does not agree.
Lauritzen Fonden’s investment company, J. Lauritzen, appoints Odfjell’s former top executive Kristian Mørch as new CEO. According to the foundation’s CEO, Tommy Thomsen, the stage is set for growth.
Demand for coal is soaring in Europe due to Russia’s invasion of Ukraine, and the new market supports dry bulk carriers, say the chief execs of Lauritzen Bulkers, Ultrabulk and Golden Ocean to ShippingWatch.
With major ports mined and few exits out of Ukraine, small ships are piling up in an attempt to export grain. CEO of bulker company BPG Shipping/Kronos Bulkers Gennadiy Ivanov presents his views of the impact of the war.
A more exposed dry bulk market has made Norden neutralize its position within dry bulk, moving the exposure to tanker instead. ”We have fully covered ourselves,” says CEO Jan Rindbo to ShippingWatch after the carrier’s third upward adjustment this year.
Once again, Norden upgrades expectations for its full-year result, which is now expected to reach up to USD 500m.
Dry bulk operator Western Bulk expects to land a record-high profit in the first half-year. The second part of the year, however, the company anticipates ”somewhat lower results.”
Since the end of May, the dry bulk market has seen a rapid drop, with one factor being a halving of the spot price on Capesize, according to Clarksons Platou.
Ulrik Andersen, CEO of dry bulk carrier Golden Ocean, supports a CO2 tax. The statement comes at the same time as this week’s important meeting in IMO’s climate committee, where a carbon tax is among the debated topics.
When the war broke out in Ukraine, Norden made a significant change to its exposure within tanker and dry bulk, which have been combined under a new unit. ”This shift has been extremely important,” says COO Christian Vinther Christensen in an interview with ShippingWatch.
Hans-Christian Olesen, who has taken over leadership of Ultrabulk from Per von Appen, has grown up as a charterer and still travels around, making deals with customers. ShippingWatch has met the new chief executive.
Dry bulk operator Star Bulk, spearheaded by CEO Petros Pappas, continues to profit from a market characterized by large demand and transport over long distances.
Golden Ocean expects to land an even better full-year result in 2022 than it did with last year’s record result, CEO Ulrik Andersen tells ShippingWatch following the Q1 report.
Dry bulk operator Golden Ocean sees increasing demand despite new market challenges and the war in Ukraine. The carrier progressed markedly in Q1.
Bimco estimates that Russian coal could be on its way to India as the country’s coal inventories reach critical levels. Trade is expected to accelerate especially as of mid-August, when the EU’s ban on Russian coal imports will have come into full force.
Green transformation demands in shipping make Pacific Basin partner up with Japanese industry groups on development of zero-emission dry bulk vessels.
NYK Line expects to book a lower profit in 2022/2023 than in the preceding fiscal year, when the ownership of container carrier ONE made a significant contribution to the company’s result.
Greek shipowner Costamare managed close to double its earnings in the first three months of 2021 compared to the same period last year. The company continues to see strong trends within container and dry bulk.
Norden has changed the weighting of dry bulk and tanker, which is now ”very strong” following a long decline. Sanctions against Russian oil will result in a new market boost, predicts CEO Jan Rindbo.
Dry bulk carrier Eagle Bulk increased revenue by 91% in the first quarter, in which the profit was considerably higher than last year. Trade patterns have changed in the wake of the Ukraine war.
The first shipment of Ukrainian corn has been sent to Spain from the Black Sea while shelling of Odesa increases. Bulk operator Kronos Director Gennadiy Ivanov insists on remaining an optimist, although he is working in a state of war.
The case between dry bulk company Falcon and bunker supplier World Fuel Services on a bunker delivery has concluded. Falcon had originally sued for USD 500,000 in damages.
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