Dry Cargo

Capesize rates & DB shippers fall as iron ore prices rise
While the broad market’s weakness might explain part of the recent sell-off in the Guggenheim Shipping ETF (SEA) and dry bulk shipping companies such as Safe Bulkers, Navios Maritime Holdings, Diana Shipping and DryShips, these were also negatively affected by falling Capesize rates.
Polembros goes for USD24.5 mln bulker secondhand
Polembros have snapped up bulk carrier “Zhushui 5” (79.501/2012), the Fearnleys Weekly Market Report notes. The price reported is USD 24.5 million.
Greeks invest USD1.96 bln in vessel acquisitions in March
Golden Destiny reports Greek players invested a total of USD 1.968 billion in vessel acquisitions during March 2014 (-123,08% change compared to previous month – A 66% rise compared to same month 2013). A total of 58 units were bought by Greeks with an overall deadweight of 5.865.347.
Bulkers: Greeks take position for potential upturn

Three capes and one panamax changed hands this week (15) as players are taking position for potential market’s upside; Moundreas of Greece have purchased en bloc cape sisters PACIFIC CHALLENGER & PACIFIC ENTERPRISE (149K BLT 1995/1996 DALIAN/CHINA) for $13 mill each, a level in line with current market.
Asia Panamax Dry: Pacific bearish; Chinese default on soybean orders
The Panamax freight market in the Pacific remained flat to bearish at the end of the week on reports of more soybean order cancellations by Chinese buyers.
Paragon Takes Delivery of Handysize Newbuilding; Arrangement of Financing for First 2 Ultramax Newbuildings

Paragon announced today that it has taken delivery of M/V Proud Seas, a 37,227 dwt Handysize vessel, from Zhejiang Ouhua Shipbuilding Co. in China. In addition, the company announced today that it has entered into an agreement with HSH Nordbank AG, subject to final documentation, to partially finance its first two Ultramax drybulk newbuildings, which are expected to be delivered to the Company in the second and third quarters of 2014.
BIMCO Shipping Market Overview & Outlook - Dry Bulk Demand: While freight rates for Capesize ships have fended off the talk of a slowdown in China in an impressive fashion, rates finally took a
minor hit on the final trading days of March...
"Challenging outlook for containers, bulkers"
Shipowners will have to continue to operate under challenging conditions in the global container and dry bulk markets in 2014 due largely to the lingering overhang of shipping tonnage, according to South Korean shipowner Hyundai Merchant Marine (HMM).
NewLead Signs Term Sheet for 75% Financing for 2 Bulkers
NewLead announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million.
Greeks place newbuilding orders; Moundreas & Maran go 2nd hand
The latest market report compiled by Carriers (week 14) notes newbuilding orders placed by C M Lemos for two tanker vessels (160,000 dwt) at HHI (delivery 2016 – USD 66.5 mln) and Chandris Group (114.000 dwt) at Daewoo (delivery 2015 – USD 51 mln).

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