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Even in a weaker market, the US-listed company would generate cash because its breakeven level is low
The Danish company has already agreed a sale and leaseback deal for two of the newbuilding vessels
The secular recovery in the dry bulk market would be characterised by extreme volatility, according to Precious Shipping’s Khalid Hashim
China’s shipbuilding association warned that the backlog of most domestic yards will not last beyond 2021, while the pandemic-led restrictions on entry of foreign owners, crew and service engineers had disrupted many ship deliveries
Last week, company executives said deleveraging and maintaining high liquidity were both priorities. At the end of June, Safe Bulkers had liquidity of $119.8m
On Monday, Temasek subsidiary Kyanite Investment Holdings announced its partial offer for Keppel Corp ‘will not proceed’
Ms Jiang is chairman of Goldwin Shipping, which ordered two 56,000-dwt chemical tankers at CSSC’s Chengxi Shipyard 2017
Star Bulk says it has no current need to raise further cash after agreeing sale and leaseback deals
The ICS says while the ‘decoupling’ of CO2 emissions from trade growth seen in the report is encouraging, efficiency gains alone will not see shipping meet its IMO targets
The sale of the 18-year old vessel, ahead of a scheduled statutory drydock, generated gross proceeds of $5m for the company
The company warned that if shareholders did not vote for the transaction to go ahead, strenuous efforts to recapitalise and strengthen its balance sheet will be negated and the critical need to address liquidity requirements will fail
Chief executive Ren Letian says his company will stay close with clients ‘in the seemingly darkest of times’
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