Dry Cargo

Dry Bulk Ship Rates Poised for Record Low on Indonesian Ore Ban
Freight rates for the biggest vessels to navigate the Panama canal are poised to slump to a record because of Indonesia’s ban on exports of nickel and aluminum ore, according to an operator of the ships.
Arriva buys bulk carrier MV “Lappland” from Sommerwiese
Arriva Shipping bought the bulk carrier MV “Lappland” from the German company 3.Sommerwiese UG. The formal change of ownership took place on June 25, 2014. The ship was built in 2009 at Sainty Shipbuilding (Jiangdu) Corp Ltd. in China.
Fearnleys Weekly (W26) GAS - CHARTERING: The eastern market is moving further up and the Baltic VLGC index this week passed USD 130/mt... 26/6/2014
Greeks active in secondhand & newbuilding markets

Intermodal reports several deals involving Greek players in the S&P market this week (25). In the VLCC sector, we had the sale of the “NEPTUNE GLORY ” (299,127dwt-blt 98, S. Korea), which was picked up by Greek buyers for a price of $23.2m. In the newbuilding sector, a Greek player has orders 3+3 bulkers (64,000 dwt) at Jiangsu Hantong, China with delivery scheduled for 2015-2016 at the price of approximately USD 27 mln.

Pan Ocean orders two capesize bulkers
Pan Ocean announced an investment to buy two capesize bulk carriers at a total price of KRW114.88bn ($112.83m). The shipowner said the purpose of the investment is to “secure vessels for cargo contracts”.
Ten year old handy sold to Greek player
Ten year old handysize BUMBI (29 K BLT 2004 SHIKOKU /JAPAN CR4X30T 3 GENIES GRAB FITTED) has been committed to Greek interests for $13.25 million, in line with May’s deals of similar size handy CITRUS VENUS (28 K BLT 2001 IMABARI / JAPAN CR 4X30T) for $11 million and larger unit GREAT LEADER (2004 OSHIMA /JAPAN) for $14.2 million.
Feanleys Weekly (W25)
GAS - CHARTERING: The VLGC spot market has had a solid recovery over the last 3-4 weeks - the MEG/Far East benchmark route has risen by 50% from roughly USD 80 to 120 per ton.
Soybean Trade: The Roots Behind Growth
Global soybean trade has grown firmly in recent years, registering a CAGR of 6% since 2007, to 103mt. The main driver has been growth in Chinese demand for soymeal, which is used for livestock feed, and along with soy oil, is made by crushing soybeans. Soybean trade is expected to rise to 111mt in 2014, although there are some risks.
Yangzijiang to build four VLOCs for Australian mining firm Yangzijiang Shipyard has won an order to build four 260,000 dwt VLOCs for an Australian mining firm. 18/6/2014
Carsten Mortensen resigns as CEO of Norden
After 17 years with Dampskibsselskabet NORDEN A/S, of which almost 10 years as CEO, Carsten Mortensen has decided to resign his position as CEO of NORDEN and seek new challenges as Group CEO in one of the world's leading maritime companies BW Group.

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