ShippingWatch

This week's top stories on ShippingWatch

Norden's new massive impairment in an extremely troubled dry bulk market, effects of the lifted Iran sanctions and mass-scale layoffs in the offshore sector were just some of this week's top stories on ShippingWatch.

Photo: Scorpio Bulkers
Photo: Norden
Photo: Norden

While the benchmark Baltic Dry Index set new all-time lows every day this week, several of the major dry bulk carriers took center stage.

Norden: We are doing better than many of our peers

Cargill plans to close its London shipping office 

Dry bulk asset values plunged in late 2015

Scorpio Bulkers speaks openly of risk of shutdown

But Danish/US-based multi-purpose carrier Intermarine is optimistic about the future:

Intermarine bets big on 23 newbuildings 

Photo: Dario Lopez, AP
Photo: Dario Lopez, AP

The dry bulk sector is miserable, but things are not looking much better in the oil industry where a small uptick in the oil price toward the end of the week had no real impact on the oil majors' decisions to perform layoffs.

Shell to slash 10,000 workers after BG acquisition

Another oil major fires 10,000 employees

Total CEO: We will get by without layoffs

Photo: Maersk
Photo: Maersk

And the reasons for the critical state of numerous shipping segment were also noted at the World Economic Forum in Davos, where several statements were made in the Swiss Alps during the week.

Smedegaard: The oil market is in a supply shock 

DP World returns to Russia

Photo: Stoc Tankers
Photo: Stoc Tankers

The sanctions on Iran - the world's fourth-largest oil producing nation - were lifted early this week. Many players have been looking forward to getting an old trade partner back on the market, but numerous observers warn about moving to quickly.

Evergas: Three big challenges in trading with Iran

Iranian crude oil carrier close to being insured

Skuld sees several risks for shipowners' Iran ventures

Clarksons Platou: Iran accord could boost tanker rates by USD 15,000

Further reading:

Stena Bulk: Pressure from new vessels could strengthen tanker pool

Stena RoRo gears up in Asian growth market

Photo: Stena Bulk
Photo: Stena Bulk

New Panama Canal could mean comeback for Capesize

Panama Canal launch pushed to second half of 2016 

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