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Bulk Carriers

Star Bulk Carriers Reports Q1 Loss

Pic: Star Bulk Carriers Corp.

Greek shipping company Star Bulk Carriers Corp reported a net loss of $5.3 million, or $0.06 loss per share for the first quarter ended March 31, 2019.Net income for the first quarter of 2018 was $9.9 million, said the global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector.

Dry Bulk Fleet Utilization Falls 3.7% in Q1

Pic: Golden Ocean

Global dry bulk fleet utilization (calculated as total demand in tonne miles transported divided by total available fleet capacity) dropped by 3.7% in the first quarter of 2019, reflecting the trend observed in the rate environment, said Golden Ocean Group (GOGL),  Bermuda registered, Norway based dry bulk shipping company.

Diana Shipping Fixes Baltimore with Koch

Pic: Diana Shipping Inc

Diana Shipping has entered into a time charter contract with the Singapore-based provider of shipping transportation services Koch Shipping, for one of its Capesize dry bulk vessels, the m/v Baltimore.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$15,

Ocean Yield Takes Delivery of Two Ships

Image: Ocean Yield ASA

Norway-based ship owning company Ocean Yield ASA has taken delivery of two 2017-built Ultramax dry bulk vessels.The Ultramax ships  are "SBI Libra" and "SBI Virgo", both of which were built in 2017.Upon delivery, the vessels commenced 11 years' bareboat charter to Scorpio Bulkers Inc, said a press release.

Grounded Bulker Refloated off Oman

(Photo: Resolve Marine Group)

A bulk cement carrier that ran aground off beaches of Al-Fazayah Beach, Salalah in Oman has been refloated in one piece and without no damage to the environment, said the company behind the salvage operation, Resolve Marine Group.The partially loaded vessel, RAYSUTT II, departed Port of Salalah in May

Pacific Basin Closes New Credit Facility

Pic: Pacific Basin Shipping Limited

Hong Kong-based dry bulk shipping company Pacific Basin Shipping Limited has closed a new USD 115 million 7-year reducing revolving credit facility secured over 10 of the Company’s owned ships.The new facility is supported by a syndicate of three leading international banks, said a press release from the dry bulk shipping company.

INSIGHTS: Dennis Wilmsmeyer, Executive Director, America's Central Port

Dennis Wilmsmeyer, Executive Director, America's Central Port

Dennis Wilmsmeyer was appointed Executive Director at America’s Central Port on July 1, 2010, prior to which he served 11 years with the Port District, six as General Manager.With over 30 years of experience, Dennis brings a wealth of knowledge and expertise to the table in the areas of transportation, planning, and economic development.

First Woman President for BIMCO

Sadan Kaptanoglu. Image: BIMCO

The world’s largest shipping association BIMCO has elected Şadan Kaptanoğlu, managing director of HI Kaptanoglu Shipping, as its new President.“It is a great privilege for me to chair the BIMCO Board of Directors in this crucial time of change for shipping. The environment and climate change are key

N.Korea Protests U.S. Ship Seizure

The bulk carrier WISE HONEST (CREDIT: MarineTraffic.com / © Sergei Skriabin

North Korea said on Tuesday the seizure of one of its cargo ships by the United States was an illegal act that violated the spirit of a summit between the two countries' leaders, and demanded the return of the vessel without delay.The North's foreign ministry said in a statement that it rejected U.N.

St. Louis Ports, Terminals Tops in Efficiency

Image: St. Louis Regional Freightway.

Now Capture 39 Percent of the Upper Mississippi River Barge Traffic; new data highlights concentration of river terminals, resulting in greater efficiencies and lower costs.The latest data from the U.S. Army Corps of Engineers (USACE) reveals the St. Louis Regional Ports held onto the top ranking as

Bulk Shipping Comes Back to Oakland Port

Pic: Port of Oakland

Bulk shipping operations could soon return to the San Francisco Bay's Port of Oakland for the first time in 20 years.  The Port said  it’s negotiating with a Canadian building materials shipper to transport sand and gravel here.The Port’s governing Board yesterday authorized

Polsteam Gets $175mln for 34 Bulkers

Image: Polsteam Brokers

Bank syndicate led by DVB Bank SE completed a $175 million financing of a 34 Bulk Carrier portfolio for Polsteam Group.Polska Żegluga Morska known as Polsteam or PŻM, is a cargo ship operator based in Szczecin, Poland. It has one of the largest route networks in the world, offering services to around 60 countries.

Bulker Values to Slide Further in 2019

Image: VesselsValue Ltd

VesselsValue has, together with Oslo-based shipping consultancy firm ViaMar, released forecasted asset values in which it was indicated that bulker values would continue to slide in the current year.It has been a tumultuous six months in the dry bulk sector, with China imposing quotas limiting coal imports during November and December 2018,

Clipper Bulk Axes 40 Staff

Image: Clipper Bulk

International dry bulk shipping company Clipper Group  has launched a comprehensive restructuring involving a large number of layoffs, especially at the company's Copenhagen headquarters.The dry bulk carrier announced a series of initiatives to strengthen its business platform amid continued weak markets.

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