Dry Cargo

Iron Ore Bargain-Hunting by China Wins Reprieve for Shipping
The bear market in iron ore is sending Chinese steel mills on a bargain hunt and giving shipping companies their best rates this year. Analysts and brokers are already warning the good times won’t last.
First-ever fully laden Valemax discharges iron ore at Chinese port
Sohar Max, the first-ever fully laden Valemax, discharged iron ore at North China’s Dongjiakou port over the weekend, according to local media reports.
Lion Shipbrokers Weekly Report (W29)
Lion Shipbrokers report (W29) containership M/V "NEDLLOYD DRAKE" (67,712 dwt, blt 2000, Aker/Germany, 5468 teus) was sold to Greek buyers (clients of Poseidon Containers) for $14.7 million.
Rebound in dry bulk freight rates slows pace of tonnage recycling
Dry bulk vessel demolitions in the first half of 2015 nearly doubled year-on-year, but tonnage recycling is now losing its momentum as higher freight rates give shipowners an excuse to hold on to their vessels for a bit longer.
Front-haul Capesize freight rates soar to 9-month high
Front-haul Capesize rates in the Atlantic region soared over the past two weeks, driven by a stronger cargo count and thin tonnage in the basin, sources said.
China’s rising commodity exports changing nature of trade
The world is used to seeing China as an importer of raw materials and an exporter of manufactured goods, but a change is occurring that has global implications for commodities.
Asia Dry Bulk-Capesize rates to hold steady
Freight rates for capesize bulk carriers are likely to hold steady next week although a rush of cargo in the Atlantic would again provide the trigger for rates to move higher, ship brokers said.
Diana Announces Time Charter Contract for m/v Clio
Diana Shipping announced that on July 8, 2015, through a separate wholly-owned subsidiary, it entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Clio.
KKR & Borealis Maritime JV Acquires Fleet from Commerzbank
KKR and Borealis Maritime announced the $254.5 million acquisition of Hanseatic Ship Asset Management GmbH, a 100 percent owned subsidiary of Commerzbank AG controlling a modern fleet of 18 container and dry cargo vessels, through a joint venture vehicle established by the two firms.
DryShips Announces Write-Off of Receivables
DryShips announced the agreement with one of its charterers to write-off about $16.5 million in overdue receivables related to charter hire payments due on 11 vessels on time charter.

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