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Bulk Carrier Trends

Dry Bulk Market Looks Up: J. Lauritzen

Lauritzen Bulkers. Photo:  J. Lauritzen

 Both the dry bulk market and the market for small gas carriers are anticipated to benefit from the expected rise in economic activity in 2018, more so as supply growth will be rather limited in both segments, says J. Lauritzen, the Danish shipping company with worldwide operations.   For dry bulk though,

US Pushes More Sanctions Targeting N.Korea Maritime Smuggling

U.S. Ambassador to the United Nations Nikki Haley (File photo: US Mission to the United Nations)

The United States proposed a list of entities on Friday to be blacklisted under United Nations sanctions on North Korea, a move it says is "aimed at shutting down North Korea's illicit maritime smuggling activities to obtain oil and sell coal."   "We are ramping up the pressure on the North Korean regime,

Baltic Index Records Best Week in 3 Months

© Unkas Photo / Adobe Stock

The Baltic Exchange's main sea freight index hit its highest in more than three weeks and recorded its biggest weekly gain in about three months as demand improved for dry bulk commodities.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 18 points, or 1.

Flooding Cripples Grain Barge Shipments in U.S. Midwest

CREDIT: MVFCA

Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading and sidelined the towboats that haul farm belt crops to Gulf Coast export terminals.   The flooded waterways sent cash premiums for corn

Navios Updates Fleet Status

Photo: Navios

 Navios Maritime Holdings controls a fleet of 72 vessels totaling 7.3 million dwt, of which 39 are owned and 33 are chartered-in under long-term charters.   The fleet consists of 21 Capesize, 31 Panamax, 18 Ultra Handymax and two Handysize vessels, with an average age of 7.7 years, basis fully delivered fleet.

Baltic Index Hits Three-week High

© NS Photography / Adobe Stock

The Baltic Exchange's main sea freight index climbed 2.6 percent on Wednesday to mark a three-week high, boosted by an increase in activity across vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 29 points, or 2.6 percent,

World’s First LNG-fueled Bulk Carrier Delivered

Photo: Lloyd's Register

Hyundai Mipo Dockyard (HMD) and ILSHIN LOGISTICS delivered the world’s first LNG-fueled bulk carrier under the dual-class of Lloyd’s Register (LR) and Korean Register.   The 50,000 dwt bulk carrier has also been verified to be in compliance with the International Gas Fuel (IGF) Code. The vessel is the result of a collaboration project,

London P&I Club Sees Encouraging Growth

London P&I Club Underwriting Director Reto Toggwiler

Following the recent completion of the 2018 renewal, the London P & I Club saw an encouraging 2.5m gt, or 5.8% year-on- year increase in its mutual business, to 45.4m gt.   The club’s underwriting director, Reto Toggwiler, says, “While the renewal period generally saw rates come under pressure, it is also the case that,

Ports of Indiana: Building on Success

(Photo: Ports of Indiana)

The Ports of Indiana is a statewide port authority, established in 1963, which operates three ports: two on the Ohio River, one on Lake Michigan. Port officials refer to the three as “America’s Premier Inland Port System.” They cite location, location, location, providing access via two critical freight

Golden Ocean Boosts Dividend as Q4 Financials Beat Street

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

Dry bulk shipper Golden Ocean proposed a bigger than expected dividend for the fourth quarter on the back of forecast-beating results on Tuesday, and reiterated the market was getting better.   The company, controlled by Norwegian-born billionaire John Fredriksen, returned to profit in the third quarter

China, not Trump, Drives U.S. Coal Revival

A typical coal cargo underway on the inland rivers (CREDIT: Inland Marine)

If China does seek a way to retaliate against U.S. proposals to impose import curbs on steel and aluminium, then targeting President Donald Trump's favoured coal would be tempting.   One of Trump's key campaign promises in the 2016 election victory was to end the war on what he termed "beautiful, clean" coal.

Ocean Yield Acquires Two Handysize Dry Bulkers

Photo: Ocean Yield Official Linkedin Page

 Norwegian shipowner  Ocean Yield announced that 100% owned subsidiaries of the Company has agreed to acquire two 2018 built handysize dry bulk vessels with 12-year bareboat charters to companies owned and guaranteed by Louis Dreyfus Armateurs Group (LDA).    The net cash purchase price is USD 18 million per vessel after a seller's credit.

Goldman Sachs, Macquarie Front Runners in HES Terminal Sale

File Image: A rendering of the The HES Terminal in the Port of Rotterdam (CREDIT: HES)

A consortium of infrastructure funds at Goldman Sachs and Macquarie is seen as the front runner in the sale of European bulk port terminal operator HES International, worth around 2 billion euros ($2.5 billion), industry sources said.   Morgan Stanley is mandated to sell the asset, two sources, whose organisations had considered bidding for it,

Kirby Closes Acquisition of Higman Marine

File Image (CREDIT: Higman Marine)

Kirby Corporation has announced the completion of the acquisition of Higman Marine, Inc. and its affiliated companies (“Higman”), an operator of tank barges and towboats participating in the inland tank barge transportation industry in the United States.   The total value of the transaction was approximately

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