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Dry Bulk
Cement maker overwhelmed by interest in green ship project
The cement producer approached the international shipping community last year to work together on a green vessel. The response was overwhelming, says the company’s chartering manager

Low fleet growth lifts dry bulk spirits
Dry bulk markets should be entering a period of higher rates, given a downcycle that spanned four years from 2016; but uncertainty about the pace of the recovery post-pandemic is still causing some concern

Loss-making Genco completes asset sales
The company, which recorded a net loss of $65m in the fourth quarter of 2020 compared with net income of $900,000 in the same period a year earlier, sees a favourable dry bulk market going forward

Pacific Basin says minor bulkers rally linked to US grains
Minor bulk demand growth is pegged at 4.8% this year compared with fleet growth of 1.8%, Pacific Basin highlights, while the dynamics are even more compelling for next year

Precious positive on bulker market for 2021
If the supply side receives a dividend from the recycling of very old ships, slow steaming by the rest of the owners who are using low-sulphur fuel oil and forced downtime in dry docks for owners passing special surveys on ships older than 20 years means the market would further benefit from this shrinking pool of available ships, according to Precious Shipping managing director Khalid Hashim

Panamax earnings approach 14-year high
Freight rates for panamaxes have been pushed up as available tonnage in the Atlantic region is limited. US Gulf and east coast South America are absorbing a great number of ballasters from the Asia-Pacific, while thickening sea ice in the Baltic Sea is further boosting rates

Dry bulk tonne-mile demand falls as Argentine grains miss the boat
Pacific demand for Argentine wheat has dropped as Asian grain buyers shift to abundant Australian produce. In the first two months of the current export season, loadings from the South American nation only reached 3m tonnes, half as much as a year ago

Lunar new year brings some joy for bulkers stranded in China
There are still about 46 bulkers that remain stranded in China’s anchorages with Australian coal because of the political spat, according to Lloyd’s List Intelligence vessel-tracking data. Of those waiting to offload cargoes, there are six panamaxes, 25 post-panamaxes and 15 capesizes

Global Ship Lease acquires seven boxships for $116m
The company, which last month announced a refinancing of its 2022 bonds and instatement of a regular dividend for shareholders, plans to plough $40m of its existing cash into the acquisitions and finance the balance with bank debt

Seasonal lull hits bulkers but agri-commodities provide support
The shortage of available containers in many export ports, especially in China, could see increasing demand for dry bulk tonnage as a secondary effect. Meanwhile, port congestions in east coast South America are likely to further boost freight rates for the mid size and geared vessels

Optimism grows for recovery in dry bulk segment
Cleaves Securities analyst Joakim Hannisdahl says China’s stimulus efforts will continue into 2021, leading to a net restocking cycle once the global commodity markets find a new equilibrium at a higher supply level. This could boost the dry bulk shipping market

Eagle Bulk ultramax boarded off West Africa
The 63,500 dwt Rowayton Eagle is fully operational and is being escorted to the discharge port by an armed private maritime security contractor vessel with a Nigerian naval detachment on board, according to the owner Eagle Bulk

Capesize market cools ahead of Chinese New Year
Brokers attribute the slide to an expected seasonal dip in cargo demand ahead of Chinese New Year, cargo cancellations after Australian port closures and tonnage tightness in Brazil

More than 50 bulkers still waiting at Chinese anchorages
Of the vessels waiting to offload their cargoes, there are 10 panamaxes, 29 post-panamaxes and 16 capesizes, Lloyd’s List intelligence data shows. But with domestic coal prices remaining elevated, calls from steel mills and power utilities to ease restrictions have mounted which may see more ships discharging cargoes in the coming months
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