Finance & Economy
Watchkeeper: Good news for short sea?
P.Sand: 2012 to be a big delivery year
Globus Sells a Panamax Vessel
Globus Maritime Limited, a dry bulk shipping company, announced that it has entered into a binding agreement to sell to an unaffiliated third party its 1998-built panamax vessel, of 72,928 dwt, m/v Tiara Globe, for a gross price of US$5.5 million.
Vale to sell 4 large iron ore carriers to China's CMES
Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co (CMES), as it looks to raise cash in the midst of an iron ore price slump.
Eagle Bulk sells handymax
Eagle Bulk Shipping has sold the oldest vessel in its fleet. The handymax Kite (47,200 dwt, built 1997) was sold to an unknown buyer for $4,297,100 after brokerage commissions, the company said in its financial results for the first quarter 2015.
Minerva linked to tanker acquisition
Lion Shipbrokers report tanker vessel M/V "RIVER PRIDE" (105,547 dwt, blt 2007, Sumitomo Yokosuka/Japan) sold to Greek buyers (clients of Minerva) for $36.75-37 million...
Asia Dry Bulk-Capesize rates to remain steady after recent gains
Rates for capesize bulk carriers, which climbed to their highest since at least January this week, are likely to remain steady next week on tighter tonnage supply, ship brokers said.
Busiest Capesize Demolition Market Ever
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
Greeks go for bulkers, tankers secondhand in W18
Lion Shipbrokers report several deals in the secondhand market involving Greek players during Week 18. Bulk carriers and tanker vessels have attracted most interest. Greek players including Diana, Dynacom, A.M. Nomikos, Revoil, Maran and Prime Marine have all been linked to acquisitions...
Orders for Bulkers Crash To 20 Year Low
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from the 23m dwt peak in orders in December 2007, and probably the sharpest decline in recent decades. Not really a surprise in a market where Capesize bulkers are struggling to earn $4,000/day, but a timely relief to investors with ships on the orderbook.
Masterbulk places 16 bulkers with Rickmers
Masterbulk Pte. Ltd. has entrusted Rickmers Shipmanagement with the management of 16 bulk carriers progressively between May and August 2015, Rickmers Group said.
Dry bulk shipping freight rates to stay low until at least 2020 – Goldman Sachs
Shipping freight rates, which have hit record lows this year, are set to remain weak for the rest of the decade or longer as there are too many ships and because low fuel prices are capping operating costs, Goldman Sachs said. The low freight rates would benefit large iron ore and coal producers as they can access new markets, while high cost producers would suffer from greater competition and a declining share of their regional markets, the U.S.-bank said in a note.
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