Greece-based owner has seized the moment to move decisively into bulkers as profits soar and the red-hot containership market continues to yield lucrative longer-term charters for its core boxship business
More than half of the scheduled newbuildings were delivered in the first five months of the year and, with expected rising iron ore volumes, especially from Brazil, continuing strongly in the minor bulk trades and healthy grains flows, bulker owners will be able to enjoy profitable levels, bar any other unexpected black swan events
Optimism abounds as higher iron ore exports are expected to coincide with greater demand for coal transportation, which has the potential to ‘significantly tighten’ vessel supply, says Breakwave Advisors
Arrow Research foresees the capesize fundamentals to be tighter in the third quarter versus the second quarter, which depends mostly on Brazilian iron ore exports, coal trade flows and inefficiency unwinding
Concordia Maritime and Stena Bulk both controlled by Sweden’s Sten A. Olsson family
With physical rates waning and a subsequent decline in volumes of FFAs being traded, reduced volatility in the market has also impacted the number of options swaps being concluded
Chile-based Nachipa chief executive Felipe Simian believes that slow steaming creates a level playing field, which is important for real environmental change
The mining giant is testing an air lubrication system in which compressors send air to devices under a vessel, forming a carpet of bubbles that reduces friction between the hull and the water. The technique will cut the guaibamax’s fuel use by 5% to 8%
The long-term financing package includes an IFC A loan of $55m, a parallel loan of $15m from Export-Import Bank of Thailand, and an IFC B loan of $15m from TMBThanachart Bank
Mr Lindström expects vessel supply growth to trail demand growth during the next three or four years because of uncertainty concerning the choice of fuels and propulsion systems
The tightness and lack of vessel availability in the containership market, which is pushing certain products such as bagged grains, scrap and general cargo to the smaller dry bulk asset classes, is supportive of dry bulk spot rates, especially supramaxes
Close to 21m dwt of new orders have been placed in 2021 and despite uncertainties, enthusiasm for new tonnage is showing no signs of dissipating. In deadweight terms, the orders are up 81.8% and 52.8% compared with the same period in 2020 and 2019 respectively
Dry bulk operator says the $38.4m facility has a term of five years
China is willing to engineer large shifts in global trade flows to achieve its political aims. Apparatchiks are prepared to let China spend billions if it means the country can end its dependence on Australian commodities and ship them from more amenable nations
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