Braemar’s shipbroking business saw a better than expected 26% rise in underlying operating profit to £11.7m

Announcement of new charters comes as Safe Bulkers posts a loss for the first quarter of the year

While the Baltic Capesize Index has flipped back above zero, current earnings represent only 0.9% of 2008’s golden year

Braemar ACM analyst Nick Ristic warns of further erosion in freight rates because of vessel oversupply

The Baltic Exchange says rates for two long range tankers doubled in 48 hours on benchmark routes, while medium-range tankers plying transatlantic trades are 186% higher than last week at nearly $88k per day

The shipowner says the charter contracts made in earlier years are based on newbuilding prices and rates that are no longer sustainable going forward

The company said the market impact of coronavirus outbreak ‘may well be temporary’ and there were ‘offsetting factors’ to balance falling Chinese oil demand

The regulation is due to take effect at the end of April this year

Charterers were reported to be talking down rates on a lack of real business, according to one broker

Although brokers are reporting little action in the market, charter rates remain stable across most ship sizes with only marginal variations being seen on certain fixtures

The dry bulk carrier owner has installed scrubbers on 12 of its 17 capesize vessels, representing a 71% completion rate

Demand is proving particularly resilient in the larger sizes, with further tonnage being fixed on long-term charters, according to Alphaliner