Costamare is putting some of its mounting cash balance from a sizzling market into a similarly strong dry bulk sector where opportunities may be easier to find
Prices of five-year-old capes and newcastlemaxes have gained 26% over the last year, while handies have gained 29%, according to a Braemar ACM research report
Company’s head says the dry bulk market will see hardly any new vessel deliveries until 2024. With new regulations coming in 2023, a phase-out of vessels is also likely
The Baltic index has lost ground in the past two weeks. However, brokers are talking of a strong market for capesize ships, and as a result, futures prices have recently been trading at record premiums versus the spot index
New charters commence on June 6 and June 10
The strong container shipping sector will drive many agricultural consignments to the dry bulk segment because of equipment shortages and high freight rates, according to Ocean Analytics founder Ulf Bergman
The three Japan-built post-panamax bulk carriers which Oldendorff acquired in the secondhand market will enter its fleet between June and early July
In the longer term, the Chinese economy will be increasingly driven by advanced technology and less by building and construction activity in the coming years, according to a Danish Ship Finance quarterly report. This will reduce the Chinese economy’s requirement for steel, hampering demand growth for iron ore and putting pressure on the capesize fleet
As part of MOL’s environmental, social and corporate governance initiatives, it is targeting businesses that will lead to reduced environmental impact, including transport of responsibly managed wood biomass for energy
Brokers say most of the activity occurred in the Pacific region, a point borne out by the C5 Western Australia to China trade route, which surged by 14.9% week on week
A change in sentiment is creeping into the market, analysts say, even as iron ore futures move up to a record-breaking $230 per tonne
The two arrivals leave Seanergy awaiting delivery of two more purchases, bringing the fleet to 15 capesizes with an average age of 11.9 years
The dry bulk market is nowhere close to a theoretical ceiling and could easily quadruple from current levels without destroying demand, according to Stifel research, which expects demand for dry bulk ships to rise by 5% this year and continue next year
Freight rate slide prompted by a dip in the forward market could just be a temporary blip in an otherwise strong setting. Iron ore will be more supportive in the coming quarter with higher volumes expected
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