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The vessels that have entered an agreement to be sold this week are due to be delivered in the first quarter of 2021. That leaves the US-listed company with an operated fleet of 34 bulkers, five of which are chartered-in
Coal trade seems to be the hardest hit of all dry bulk commodities this year, falling by 8% to 14%, but growth is expected next year, despite trade tensions
An increase in the demand for smaller containerships has been seen as the shipping industry adapts to emerging trends and seeks to meet the heightened demand for intra-regional shipping and more flexible services
Wood Mackenzie expects China to purchase 20m tonnes of seaborne coal later in December or January next year. This, in addition to tighter tonnage availability, would support freight rates in the short term
Geopolitical developments in particular around Chinese coal imports are putting the brakes on dry bulk demand, according to BIMCO. However, it remains to be seen at what level China will set new coal quotas and how the spat with Australia develops
Lloyd’s List Intelligence vessel tracking data shows that the 2015-built, 37,503 dwt vessel Ince Point carrying Australian wheat is scheduled to reach Ho Chi Minh City on December 10. This is the first of what could be 60 ships carrying wheat to global markets
Timber from Australia is the latest commodity to be hit by a series of bans and other trade barriers imposed by Beijing, including shipments of coal held up in customs in recent days, souring relations between the two countries
The delay in berthing has been attributed to the Chinese Customs authorities not granting import clearances. Meanwhile, the service contracts of the 23 Indian crew members on board the bulk carrier have long expired, with most of them sailing for about 15 months now
The arbitrage on coal imports is huge and the only limiting factor for imports to China today is the lack of import quotas, noted head of Klaveness Research Peter Lindström. He believes that the high domestic coal price in China will trigger a softer stance towards imports in the coming months
The Japan-built vessel, which was delivered to its new owner earlier this month, fetched a gross price of $7.85m, company says in a fleet update
Genco, which has been focusing on a fleet renewal programme, reported a net loss of $21.1m in the third quarter of the year. However, the owner declared a regular quarterly cash dividend of $0.02 per share as part of its dividend programme, which began last year
Braemar analyst Nick Ristic sees the grain trade growing by almost 4% this year versus the previous season. He believes that Chinese imports of soyabeans from the US are set to improve over the coming months, following healthy sales activity between the two countries
In the first seven weeks of the US marketing year, soyabean exports to China amounted to 8.2m tonnes, according to BIMCO. That represents 72% of all US soyabean exports over the period
China, which is of course the most important economy for dry bulk demand and especially capesizes, will remain the shinning star for the coming year, according to the International Maritime Fund. China’s growth is having a positive spillover effect on commodity prices, providing encouragement to dry bulk freight rates.
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