Dry Bulk
Stay informed with the latest news, analysis, and market insight for the dry bulk shipping industry through our expert coverage
Minor bulk trades reflect slowing global economy
While overall minor bulk volumes shipped declined 1.6% in January to May this year versus the same period in 2022, optimism prevails of brighter days into 2024
China’s unexpected PMI drop underlines uncertainties for dry bulk
Construction activity was supported by infrastructure spending
Cheap Russian diesel goes global, expanding shipping routes
Russian diesel, once destined for Europe, now shipped to Türkiye, Brazil, northern Africa and Middle East at substantial discount, with longer voyages and profits from arbitrage trades boosting product tanker utilisation and earnings
Fredriksen and International Seaways trade barbs ahead of annual meeting
Ahead of International Seaways’ annual shareholder meeting and just over a year after its board adopted a ‘poison pill’ to block billionaire John Fredriksen from crossing an ownership threshold, tensions remain high between the company and its largest shareholder
Dark fleet operator Gatik reflags four tankers with Mongolia
Having been deflagged and removed from P&I cover because of its involvement in moving Russian oil, the world’s largest operator of dark fleet vessels, Gatik Ship Management, has turned to landlocked Mongolia to keep at least four of its tankers in business
Toro profits from tanker sales
Nasdaq-listed owner continues to aim for growth and diversification
Suezmax scarcity to secure ‘a very interesting market’ for Nordic American Tankers
Nordic American Tankers expects the strong market for suezmax tankers to continue in the coming years, on the back of longer voyages and limited fleet growth
Norden chief eyes capesize expansion
Several factors have prompted the Danish shipping company to move back into the largest size of bulkers, including offering more services to customers in response to their needs and tapping into the growing bauxite trades from West Africa to China
Capesize rates float up to six-week high
Higher spot rates expected in coming weeks on increased volumes of iron ore from Australia and Brazil as well as a bauxite push from West Africa before the rainy season hits
Oil production cut not expected to derail tanker boom
Long-term fundamentals remain firm given the absence of a severe global recession. Current VLCC time charter rates are said to be not sufficient to spur owner’s ordering appetite
Capesizes return to profit-making territory
Capesize rates are up 679% since mid-February to their highest level this year, as optimism about China’s prospects amid low fleet growth abounds
Bulk freight market sees firm lift
China’s latest PMI data points towards a faster-than-expected recovery. This helped to boost iron ore prices and in turn capesize spot rates, which have almost quadrupled
Dry bulk should see healthy rates this year, says Braemar
Capesize lift should come in a few months as China’s industrial output ramps up following its zero-Covid policy, says shipping analyst Alexandra Alatari
Capesize owners not looking at lay-ups
Owners polled by Lloyd’s List say their ships are employed at premiums to the spot benchmark. Idling vessels is not on the cards as a recovery was most likely around the corner
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