Two Swedish shipping companies join forces to establish a new ship operator that will sail from ports in Sweden and Finland. The company has five ships so far and plans to order upwards of four LNG-powered newbuilds.
A structural flaw in the hull of Stellar Daisy made the large bulker sink in 2017 in an accident that cost 22 lives, concludes casualty investigation report. The report rejects liquefied cargo as main cause of the wreck.
Thorco Projects is staying out of the acquisitions that have characterized the project cargo market in recent years. "I'm just delighted that it's not me," Chairman Thor Stadil tells ShippingWatch.
BBC Chartering has once again overtaken Cosco's specialized ship operator to become the largest company in project cargo. Thorco goes down on the list, though its CEO tells ShippingWatch that he does not recognize the numbers.
Growth in China's economy proved better than expected in the first three months of 2019. The economy continues to grow at an impressive rate, says analyst.
Dry bulk operator Scorpio Bulkers has made a new sale and lease back agreement. This time, six vessels are sold off to be chartered back again.
Songa Bulk, which sold its entire dry bulk fleet last year, has made an agreement to merge with company Axxis Geo Solutions.
United Heavy Lift sees positive signs in a strained market for project cargo, which is characterized by mergers and acquisitions. But the shipping company, which recently welcomed two new co-owners into the fold, is pursuing a different strategy, the company says in an interview with ShippingWatch.
The dry bulk market was weaker in the first quarter of this year than the last, reports Pacific Basin. The second half of the quarter was, however, uplifting for smaller bulkers, says the shipping operator, which took delivery of three vessels in the first months of the year.
Dry bulk shipping company Golden Ocean set to invest in operator Singapore Marine, which has a former Swiss Marine CEO as main shareholder.
According to figures from database Vessels Value, not a single transaction involving capesize vessels has been closed since December 2018. This is the longest market standstill to date, states an analysis.
Ship operator Western Bulk Chartering has just secured new debt financing. The first months of 2019 show signs of a delayed market recovery, the company says.
Scorpio Bulkers has once again sold vessels with two new sale and lease back agreements. This time the sale concerns two Ultramax vessels. The company sold nine vessels less than a month ago.
Spliethoff Group is mere details away from acquiring the last six ships from insolvent Hansa Heavy Lift's fleet, ShippingWatch has learned. Once the transactions are finalized, the Dutch shipping group will have bought 11 ships.
The US exported 1.4 million tons soybeans to China in January, the highest level since the trade war began, writes shipping association Bimco in an analysis.
German carrier Hamburg Süd, owned by Maersk, receives approval for the sale of its dry bulk business. The deal involves roughly 45 ships and makes it possible for the carrier to focus on container business.
Although 2019 got off to a rocky start, in part due to January's dam catastrophe in Brazil, several prominent dry bulk shipping companies maintain their belief that the market will improve in the second half of 2019 and in 2020.
If fines for violating sulfur regulations are not raised, and control on the docks and at sea is not strengthened, then "it looks like it could be good business to cheat," says Ultrabulk CEO Per Lange nine months before the new environmental policies take effect.
The Baltic Capesize Index is still under pressure, and last week it approached a historic low point. Some shipowners are well-bolstered against this adversity, while others are severely affected, believes investment bank.
Who wants to order a new ship that sails 14 knots, burns heavy fuel that will be illegal to carry as of January 2020, and is required to reduce CO2 emissions by 40 percent by 2030? Pacific Basin CEO Mats Berglund argues that environmental regulation will impact the global order book.
In 2018, Ultrabulk booked the best result in many years, and the carrier's CEO is also looking positively at 2019. Revenue rounded USD one billion last year.
Danish shipping liner Norden has sold four dry bulk vessels. The sales are part of a strategy to own fewer vessels and instead charter them in, allowing the company to easily respond to market conditions.
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