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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

International Dry Bulk Annual Outlook
Market Insight

Castor acquires first capesize bulker

The Petros Panagiotidis-led owner said it had agreed a purchase price of $17.5m for the vessel, but only identified it as a capesize built in 2006 in Japan. However, the description matches the 15-year-old, 180,200 dwt Ocean Compass built by the Imabari Shipbuilding Saijo shipyard

Dry Bulk Capes

Tropical storm triggers Port Hedland shutdown

The Pilbara Ports Authority has started clearing the anchorages of Port Hedland of large vessels and has directed all ships to sail and clear the inner anchorages

Australia Dry Bulk

Rio Tinto sees Chinese policies supportive of commodity demand

The Anglo–Australian company expects to ship between 325m to 340m tonnes of iron ore from Australia in 2021. Yet, it continues to face uncertainty about how the pandemic will impact projects in its iron ore business

Australia China

Vale reports blaze at Ponta da Madeira terminal

Vale said the blaze was brought under control by the fire services without any casualties or environmental damage. According to a Singapore-based broker, the berth has been closed for investigations

Brazil Dry Bulk

China imports record iron ore and coal in 2020

BIMCO’s chief shipping analyst Peter Sand expects China to continue to increase its dominance, although growth is likely to be more focused on private consumption rather than the infrastructure-heavy stimulus measures of last year, somewhat dampening dry bulk imports

China Dry Bulk

Higher Chinese corn imports boost panamax bulkers

Beijing is importing huge quantities of corn to meet its animal feed demand as stockpiles in the country dwindle. US corn producers have been the main beneficiaries of China’s appetite for corn imports

China Dry Bulk

Seanergy hails financial restructuring

Deal with main creditor Jelco Holdings completes a $179m financial restructuring

International Seanergy

China's big freeze turns heat up on bulker market

Lloyd’s List Intelligence data shows around 34 dry bulkers above 10,000 dwt have been waiting outside Qinhuangdao port and anchorages, which is one of the largest coal transportation hubs in China, since the beginning of the year

China Japan

Dry bulk and tanker markets face challenging year

A key question for bulker owners is the extent to which fleet inefficiencies will continue to distort vessel supply-demand balances, SSY notes. For tankers, with Atlantic basin refinery closures and run cuts, a surplus of Atlantic crude could be a prime export candidate for shipment to Asia

International Dry Bulk

Dry bulk market will weather Argentine corn export ban

However, corn export prospects look less optimistic for the coming season due to unfavorable planting conditions, which have had a more severe effect on Argentine crops

Argentina Dry Bulk

Capesizes were top candidates for scrapping in 2020

About 30 very large ore carriers were sold over the course of the year, with many of these ships having been converted from very large crude carriers and being phased out from the fleet due to safety reasons

Bangladesh India

Bauxite to drive dry bulk carrier demand in coming years

Despite the pandemic the bauxite trade on the Guinea to China route has been strong this year, transhipment logistics provider Shi.E.L.D. Services said adding that it expects the trade to increase further not only in 2021 but also in the following years

China Guinea