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Bulk Carrier Trends

Scorpio Gets Financing for Kamsarmax Vessel in Japan

Photo: Scorpio Bulkers Inc.

 Scorpio Bulkers Inc announced that it has entered into a financing transaction in respect of one of the Company’s Kamsarmax vessels with unaffiliated third parties in Japan.     The cost of the financing is equivalent to an expected fixed interest rate of 4.24% for 10 years.  If converted to floating interest rates,

New BWTS for Big Bulk Carriers

Andrew Marshall (Photo: Coldharbour Marine)

U.K.-based ballast water treatment systems (BWTS) manufacturer Coldharbour Marine has launched a new treatment process designed specifically for large dry bulk vessels and ore carriers. The system uses the company’s existing inert gas based GLDTM treatment plant to meet the needs of large bulk carriers,

Scorpio Bulkers Lines Up New Loan Facility

File Photo: Scorpio Bulkers

 Scorpio Bulkers announced that the Company has received a commitment for a loan facility of up to $85.5 million from Nordea Bank AB (publ), New York Branch, and Skandinaviska Enskilda Banken AB.     The loan facility will be used to finance up to 60% of the market value of the six Ultramax vessels the Company has recently agreed to acquire.

Case Study: Surveying the Hennepin Wreck in Lake Michigan

Klein System 3000

Klein’s multipurpose System 3000 is a simultaneous, dual-frequency side scan sonar that can be used to conduct a variety of survey applications in shallow and deep water. With operating frequencies of 100 and 500 kHz, the 3000 is designed for long range seafloor reconnaissance and object identification.

Bahri Reinforces Americas Commitment

(Photo: Bahri)

Reinforcing its three-decade-long presence in North America, transportation and logistics firm Bahri took part in Breakbulk Americas, being held from October 17-19, in Houston.   The Bahri booth at Breakbulk Americas was opened by Mr. Sultan bin Abdullah Al-Angari, Consul General of Saudi Arabia in Houston,

BBC Chartering, Jumbo Shipping Team Up in Global Project Alliance

Photo: BBC Chartering

 Two market leaders in their respective fields, Jumbo and BBC Chartering have agreed to an exclusive strategic co-operation; the “GLOBAL PROJECT ALLIANCE”, effective immediately.   This unique co-operation between two family-owned companies brings together established and reputed heavy-lift expertise and massive fleet capacity.

Cautious Optimism on Multipurpose Shipping: Drewry

Graph:  Drewry Shipping Consultants Limited

 Recovering demand for multipurpose shipping combined with improved market conditions for competing sectors will result in rising market share for the multipurpose shipping fleet and a recovery in freight rates in 2018, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry.

St. Lawrence Seaway Cargo Volumes Buoyant

The Canada-flag Algolake loading wheat at the CHS elevator in the Port of Duluth-Superior. (Photo by: Terry White / Chamber of Marine Commerce)

As marine shipping continues to support the growth of the Canadian and U.S. economies, St. Lawrence Seaway cargo shipments to-date for 2917 are 14 percent ahead of 2016 volumes.   Total cargo tonnage from March 20 to September 30 reached 24.3 million metric tons – 3 million metric tons more compared to the same period in 2016,

Panama Canal Sets Record Annual Cargo Tonnage

Photo: ACP

Following the close of its 2017 fiscal year (FY17), the Panama Canal announced that the waterway welcomed a record 403.8 million Panama Canal tons (PC/UMS) of cargo in FY17, the largest amount of annual tonnage ever transited in its 103-year history. The 22.2 percent increase from the previous year

Genco Opens Singapore Office

(Photo: Genco Shipping & Trading Limited)

Genco Shipping & Trading Limited said it has opened an office in Singapore and has appointed Ivo Kempenaer as Vice President and Commercial Director, Head of Major Bulks.   “Genco continues to take important steps to optimize our commercial strategy and enable the company to more fully capitalize on its leading and sizeable operating platform.

Waterways Council, Inc. Update

File Image only (CREDIT: WCI)

As of today (October 16, 2017), the Ohio River is now OPEN at Lock & Dam 52 (L&D 52).   The river reopened on Saturday after it had been closed for nearly a week due to rising river stages that exceeded the maximum locking stage of 20.7 feet.   Precipitation from Hurricane Nate prompted the rising river levels and closure,

US-flag Great Lakes Shipping Buoyant in September

© haveseen / Adobe Stock

U.S.-flag Great Lakes freighters (lakers) moved 10.1 million tons of cargo in September, an increase of 10.7 percent compared to a year ago, the Lake Carriers’ Association (LCA) reported. September’s shipments also bettered the month’s long-term average by 3.1 percent, or 300,000 tons. LCA said iron ore cargos for steelmaking totaled 4.

Congo Lifts Ban on Raw Metal Exports by Chinese JV

Congo's government has lifted an order requiring a joint venture of Chinese investors to stop exporting raw copper and cobalt, the mines ministry and the company said on Wednesday.   Democratic Republic of Congo's mines minister Martin Kabwelulu last month ordered Sicomines, one of the country's largest copper producers,

Clipper Bulk Consolidates

(File photo: Clipper Group)

Denmark based Clipper Group said it will simplify its operational and administrative setup in its core business area, the dry bulk market. Clipper will concentrate its bulk business in Copenhagen, Houston and Hong Kong going forward, closing its offices in Stamford, Sao Paulo, Rio de Janeiro, Singapore and Beijing.

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