26-April-2018
Greek shipowner and operator Vulcanus Technical Maritime Enterprises acquired 2005 Chinese built supramax dry bulk carrier 53K DWT MV Evanthia (ex MV Santa Margherita) from German shipowner and operator Stella Marine Services for around $9 million. Previously, Greek shipowner and operator Vulcanus Technical Maritime Enterprises was operating Japanese and South Korean built handysize dry bulk carriers. Vulcanus Technical Maritime Enterprises steadily transformed itself into a pure-operator of Chinese-built supramax dry bulk carriers. In 2017, Vulcanus Technical Maritime Enterprises acquired four (4) secondhand supramax dry bulk carriers.
24-April-2018
Shipbrokers have connected Athens-based Lou and George Kollakis-led shipowner and operator Chartworld Shipping Corporation with an upcoming contract signing for ultramax bulk carriers. It is understood that Greek shipowner and operator Chartworld Shipping Corporation has progressed to the LOI (letter of intent) stage with the esteemed Chinese Shipyard Xiangyu, intending to acquire two (2) bulk carriers, with an additional option for four (4) more, each having a capacity of 63K DWT (deadweight tonnage). The delivery of these solidly built ultramax bulk carriers is scheduled for the year 2020, and the negotiated price is believed to be around $24 million per ship. Athens-based shipowner and operator Chartworld Shipping Corporation has been diligently expanding in recent times, establishing the company as one of the most reliable purchasers of new bulk carriers, primarily from Chinese shipyards, since the commencement of 2017, capitalizing on the attractive low prices available in the market.
24-April-2018
Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping linked to smart asset plays. Dubai-based shipowner and operator Densay Shipping resumes being at the epicenter of busy activity in the S&P (Sale and Purchase) market, both as a buyer and seller of ships. Dubai-based shipowner and operator Densay Shipping acquired 2010 built supramax bulk carrier 55K DWT MV SSI Majestic (ex MV Nichirin) for around $15.5 million. 2010 built supramax bulk carrier 55K DWT MV SSI Majestic (ex MV Nichirin) was built at Mitsui Engineering & Shipbuilding in Japan. United Arab Emirates-based Densay Shipping was founded in 1992 by Turkey’s Tayfun Gunerhan, who started his shipping career as a deck officer in 1985.
23-April-2018
Approximately a month after the esteemed PetroVietnam successfully incorporated Chembulk’s MT Opec Fortune (ex MTKings Point) at a price just shy of $14 million, the flourishing Southeast Asian enterprise PetroVietnam finds itself in association with a significantly larger tanker acquisition. Behold, MT BM Breeze, an impressive 105K DWT (deadweight tonnage) aframax tanker, owned by Japanese shipowner Doun Kisen KK (aka Doun Kisen Co. Ltd), was acquired at the grand cost of $18 million. This notable addition marks the fifth aframax tanker to grace PetroVietnam’s esteemed tanker fleet, which now boasts a total of 15 magnificent ships. It’s worth noting that the state-owned PetroVietnam is currently contemplating a substantial $500 million bond issue within the forthcoming couple of years, as PetroVietnam sets its sights on further expanding its maritime portfolio through additional ship acquisitions.
23-April-2018
The secondary market for dry bulk carriers remained vibrant this past week, with shipowners primarily focusing their acquisitions on modern supramax and handysize bulk carriers, underscoring a strategic preference for versatile and efficient vessel types. Meanwhile, activity in the secondhand tanker market continued to be subdued due to the prolonged downturn affecting the sector. Notably, with capesize bulk carriers experiencing an upsurge in earnings, shipbrokers have reported a significant increase in inspections of these vessels, signaling an impending wave of transactions in this larger vessel segment. The dry bulk market has seen substantial activity, much of which was encapsulated in a large en bloc transaction completed by Star Bulk Carriers. This flurry of activity is expected to persist, with market conditions anticipated to strengthen further. There is a particular interest in larger capesize bulk carriers, spurred by recent gains in the freight market. This resurgence of interest among shipowners is projected to drive another round of price increases in the near term, as confidence returns to the market and capitalizes on the positive momentum. Amidst this active market landscape, Athens and Monaco-based ship manager and operator White Sea Group, known for operating under the names White Sea Navigation S.A. in Athens and White Sea SARL in Monaco, has strategically expanded its fleet. The company recently acquired the 2010-built supramax bulk carrier 58K DWT MV Requiem from Athens-based shipowner Kassian Maritime for approximately $12.5 million. This acquisition is a testament to White Sea Navigation S.A.’s ongoing strategy to bolster its operational capacity and enhance its service offerings in the competitive global shipping industry. White Sea Navigation S.A. is an established player in the maritime sector, recognized for its robust management practices and strategic asset acquisitions. The company has cultivated a strong reputation for operational excellence and strategic fleet management, enabling it to navigate the complexities of global shipping effectively. With a diverse fleet that includes several vessel types, White Sea Navigation S.A. is adept at handling various cargo types and has established robust trade routes that span the globe. The addition of MV Requiem brings White Sea Navigation S.A.’s fleet to five bulk carriers, each equipped with the latest navigational and operational technologies to ensure safety, efficiency, and environmental compliance. This commitment to maintaining a modern and technologically advanced fleet is part of White Sea Navigation S.A.’s ongoing efforts to uphold stringent industry standards and contribute to sustainable maritime practices. Furthermore, White Sea Navigation S.A. invests heavily in crew training and development, ensuring that all personnel are equipped with the necessary skills and knowledge to operate in a demanding and continuously evolving industry. This focus on human capital is crucial for maintaining high operational standards and fostering a culture of safety and excellence within the company. Looking forward, White Sea Navigation S.A. remains committed to its growth strategy, which involves not only fleet expansion but also an emphasis on maintaining high standards of safety and environmental responsibility. This approach ensures the company’s ongoing ability to provide reliable and efficient shipping solutions to its global clientele, bolstering its position as a leader in the maritime industry. As the shipping market anticipates further activity, White Sea Navigation S.A. is well-positioned to capitalize on emerging opportunities and drive continued success in the dynamic maritime sector.
17-April-2018
One of the largest Russian foodstuff producer Aston Group is endeavoring to acquire 10 river type dry bulk carriers from Chinese shipyards. 8K DWT river type dry cargo ship design is the largest to enter ports along the River Don. In the first week of April 2018, Aston Group has also started operating 4 handymax dry bulk carriers.
16-April-2018
US-listed Diana Shipping chartered out 2013 built kamsarmax dry bulk carrier 82K DWT MV Mytro at $14,000 per day for a year period to giant American grain trader Cargill. Previously, Diana Shipping chartered out MV Mytro at $8,000 per day for a year for fifteen months. In 2012, US-listed Diana Shipping acquired MV Mytro for $26.5 million.
16-April-2018
Danish shipowner and operator Thorco Bulk has changed its name to Trithorn Bulk. There are no changes to the Thorco Bulk’s legal entity, ownership, status management, or personnel other than a name change. Rene Mikkelsen, Uffe Hansen, and Marc Slinger established Trithorn Bulk in 2016 in order to operate an average of 25 dry bulk carriers. Trithorn Bulk is the sister company of global conglomerate Thornico which is active in several industries, including food, real estate, sport, fashion, and packaging.
15-April-2018
US-based dry bulk shipowner and operator Pangaea Logistics Solutions signed MOU (Memorandum of Understanding) to acquire 2006 built panamax dry bulk carrier 76K DWT MV Madeleine for $14.2 million from Greek Goldenport Shipmanagement. MV Madeleine will be used for transport services to Noranda Alumina and Noranda Bauxite. Noranda Alumina (US-based) and Noranda Bauxite (Jamaica-based) mining companies owned by DADA Holdings. US-based dry bulk shipowner and operator Pangaea Logistics Solutions is led by Ed Coll. After this acquisition of MV Madeleine, Pangaea Logistics Solutions has a fleet of 20 dry bulk carriers.
12-April-2018
Mumbai based shipowner and operator Great Eastern Shipping has fortunately raised around $45 million in a non-convertible debenture sale. Great Eastern Shipping has been throwing cash on second-hand ships in recent weeks. In March 2018, Great Eastern Shipping acquired 1996 built 36K cbm LPG carrier. Currently, Great Eastern Shipping has a diversified fleet of 16 dry bulk carriers, 3 LPG carriers, 17 Product Carriers, 12 Crude Oil Carriers.
12-April-2018
Greek shipowner and operator Kassian Maritime been modernizing its fleet. Kassian Maritime has sold five (5) vintage ships recently and accumulated about $36 million. Greek shipowner and operator Kassian Maritime is preparing to acquire 2011 panamax dry bulk carrier 82K DWT MV Oriental Wise for about $18 million from Qinfa. Qinfa is a Chinese coal mining company with a shipping arm. MV Oriental Wise was built at CSSC Longxue Shipbuilding in China. Pappadakis family-controlled Kassian Maritime has two panamax bulk carriers in the fleet. 2012 built sisterships 81K DWT MV Resurgence and MV George P which were built at the same shipyard CSSC Longxue Shipbuilding in China. Last week, Athens based shipowner and operator Kassian Maritime acquired 2010 panamax bulk carrier 75K DWT MV Annabell from German NAVES Invest for about $14 million. Excluding the latest acquisitions this year, currently Kassian Maritime has a modern fleet of ten (10) dry bulk carriers. Moreover, Kassian Maritime has an ultramax bulk carrier under construction at Mitsui Shipyard.
12-April-2018
French shipowner and operator Louis-Dreyfus Armateurs (LDA) is exiting the capesize dry bulk spot market. Louis-Dreyfus Armateurs (LDA) demonstrated that capesize dry bulk spot market is extremely volatile and presently dominated by prominent mining groups. According Louis-Dreyfus Armateurs (LDA), capesize dry bulk spot market is not controlled by shipowners any longer. Capesize dry bulk spot market is dominated by gigantic mining groups. Louis-Dreyfus Armateurs (LDA) is withdrawing out of capesize spot market in order not to risk its operations with the bigger vessels. French shipowner and operator Louis-Dreyfus Armateurs (LDA) is endeavoring to concentrate on handysize dry bulk sector. Louis-Dreyfus Armateurs (LDA) has opened a new office in Singapore for the chartering department. French shipowner and operator Louis-Dreyfus Armateurs (LDA) supervisory board is chaired by Philippe Louis-Dreyfus. Louis-Dreyfus Armateurs (LDA) has been restructured into three divisions: bulkers, ports and offshore. However, the dry bulk segment has been representing half of the business of Louis-Dreyfus Armateurs (LDA).
12-April-2018
Swiss-Italian dry cargo operator Nova Marine Carriers acquired two (2) handysize dry bulk carriers both 2011 built 29K DWT MV North Wind (ex MV Asian Wind) and MV South Wind (ex MV Asian Prosperity) for about around $9 million each. Lugano-based dry cargo operator Nova Marine Carriers is endeavoring to acquire bulk cement carrier. Swiss-Italian dry cargo operator Nova Marine Carriers largely operates as a joint venture with Algoma Central Corp of Canada under the name of NovaAlgoma Shortsea Carriers. NovaAlgoma Shortsea Carrier’s joint venture has added 4 small dry bulk carriers to its 50-strong fleet in 2018. Besides NovaAlgoma Shortsea Carriers, Swiss-Italian dry cargo operator Nova Marine Carriers and Algoma Central Corp of Canada established another joint venture under the name of NovaAlgoma Cement Carriers which is operating 12 small cement carriers.
11-April-2018
US-listed shipowner and operator Euroseas sold 1998 built handymax dry bulk carrier 46K DWT MV Monica P for $6.45 million for further trading. MV Monica P was the oldest ship in the fleet of Aristides Pittas-led shipowner and operator Euroseas. MV Monica P will be replaced by kamsarmax newbuilding MV Ekaterini in May 218. Euroseas has a mixed fleet of 11 container ships and 6 dry bulk carriers.
10-April-2018
Greek shipowner and operator Arista Group’s affiliate Forward Maritime has signed an LOI (Letter of Intent) with Jiangsu Yangzijiang Shipbuilding to advance the construction of what are promoted as the world’s first truly LNG-powered ships. These innovative LNG-fueled 84K DWT kamsarmax dry bulk carriers are identified under the project designation Forward Bulker 84-LNG, representing a major step toward next-generation propulsion in the global dry bulk sector. Jiangsu Yangzijiang Shipbuilding, one of the most prominent privately controlled shipbuilding enterprises in China, has emerged as a key technological partner in the development of advanced eco-tonnage. Over the past decade, Jiangsu Yangzijiang Shipbuilding has established a strong reputation for engineering and constructing modern, fuel-efficient vessels across multiple ship types—including bulk carriers, containerships, product tankers, and dual-fuel propulsion ships tailored to future regulatory standards. Its integrated shipyard network in Jiangsu Province benefits from extensive automation, digital design tools, and cutting-edge fabrication systems that allow the full company to deliver complex, environmentally aligned vessels at competitive cost levels. Jiangsu Yangzijiang Shipbuilding’s collaboration with Forward Maritime on the Forward Bulker 84-LNG concept further reinforces its position as a frontrunner in LNG propulsion and low-emission newbuilding solutions, combining hull optimization, energy-saving devices, and long-term operational efficiency into a unified vessel design. Supporting Jiangsu Yangzijiang Shipbuilding’s industrial capabilities is Yangzijiang Maritime Development Ltd., the maritime financing and investment arm within the broader Yangzijiang ecosystem. Listed on the Singapore Stock Exchange, Yangzijiang Maritime Development Ltd. provides specialized ship-financing structures, long-term leasing platforms, and co-investment frameworks designed to support shipowners worldwide in acquiring modern, environmentally compliant ships. Through its strong balance sheet, expansive industry network, and alignment with Chinese shipyards, Yangzijiang Maritime Development Ltd. offers financing solutions that blend competitive capital access with strategic fleet-development support. The full company has already become a major participant in maritime asset investments across dry bulk, tanker, and container segments, positioning itself as a key financial anchor for next-generation ship projects such as LNG-powered kamsarmax bulk carriers. The cooperation among Forward Maritime, Jiangsu Yangzijiang Shipbuilding, and Yangzijiang Maritime Development Ltd. represents a significant milestone in the transition toward clean-fuel propulsion technology within the dry bulk market. By combining Greek operational expertise, Chinese engineering strength, and Singapore-based maritime financing, the Forward Bulker 84-LNG project demonstrates a new model of international collaboration driving innovation, environmental compliance, and efficiency across global shipping.
9-April-2018
The discreetly operated South Korean shipowning and managing company Doriko has successfully negotiated the sale of the 2005-built panamax bulker, MV DR Bravo, for $12.5 million. This vessel, a 76K panamax bulk carrier constructed in Japan and scheduled for dry-docking in July, has been purchased by the Greek shipping firm, Omicron Ship Management. Doriko initially acquired the MV DR Bravo (formerly known as MV Alessandro Volta) in March 2017 from Fuyo Kaiun for a sum of $9.9 million. At the time of purchase, the price was considered robust, yet in hindsight, the transaction has proven to be a lucrative deal for the South Korean shipowner and operator, yielding a profit of $2.6 million.
7-April-2018
Greek shipowner and operator Vita Management controlled 2001 built panamax dry bulk carrier 74K DWT MV Vitaspirit smashed into historical mansion at the Bosphorus during her Istanbul Strait passage on 7 March 2018. No injuries or pollution have been reported. Fortuitously, an expensive historical mansion was not occupied during the incident. Half of the waterside of the historical mansion was devastated. Authorities closed the Bosphorus Strait traffic for north and southbound after the terrible accident. Malta-flagged MV Vitaspirit was carrying 62K barley cargo from Russia to Saudi Arabia.
6-April-2018
Chinese dry bulk shipowner and operator BG Shipping (Beibu Gulf Shipping) sold 2009 Chinese built kamsarmax dry bulk carrier 82K DWT MV BBG Ambition (ex MV FD Isabella) to a Greek shipowner for around $19 million. BG Shipping (Beibu Gulf Shipping) is booking a tremendous profit from the sale of a modern kamsarmax bulker. In 2016, BG Shipping (Beibu Gulf Shipping) bought MV BBG Ambition (ex MV FD Isabella) for around $9 million from Japanese shipowner Kambara Kisen. currently, Hong Kong-based BG Shipping (Beibu Gulf Shipping) fleet is left with 3 modern kamsarmax dry bulk carriers. Hong Kong-based BG Shipping (Beibu Gulf Shipping) is led by former COSCO Shipping manager William Lu. BG Shipping (Beibu Gulf Shipping) operates more than 70 dry bulk carriers. In 2016, BG Shipping (Beibu Gulf Shipping) sold 2013 kamsarmax dry bulk carriers 82K DWT MV BBG Glory and MV BBG Hope to Chinese shipowner and operator Seacon Ships Management for $30 million en bloc. BG Shipping (Beibu Gulf Shipping) is 100% controlled by the Guangxi province-owned Beibu Gulf Port Group.
6-April-2018
Norwegian diversified shipowner and seafood operator Grieg Group reported 2017 financial results. Grieg Group consisting of 4 divisions:
- Grieg Seafood
- Grieg Star Shipping
- Grieg Shipbrokers
- Grieg Finance Investments.
6-April-2018
London-based financial research company Drewry upgraded Star Bulk Carriers’ stock to $15.50 from $14.20 due to the company’s Q4 2017 results. Star Bulk Carriers have been trying to deleverage its balance sheet. Average Daily Time Charter Equivalent (TCE) rates of Star Bulk Carriers jumped to $13,860 in 2017 from $9,619 in 2016. Thus increased operating revenue to $107.7 million in Q4 2017. Petros Pappas led Star Bulk Carriers to make agreements with senior lenders in order to defer principal payments from June 2016 to June 2018. Star Bulk Carriers’ Q4 2017 performance was also positively impacted by an improving dry bulk market.
6-April-2018
Government-controlled Vietnamese shipowner and operator Vinalines Shipping have been attempting to postpone Initial Public Offering (IPO) for two months. Vietnamese shipowner and operator Vinalines Shipping will postpone the common share sale. In January 2018, Vinalines Shipping postponed Initial Public Offering (IPO) date for six months and now postponed further for two months. A 35% stake of Vinalines Shipping is intended to be offered as Initial Public Offering (IPO). State-owned Vinalines Shipping is Vietnam’s most comprehensive shipowner and operator. Vinalines has a mixed fleet of 90 ships including tankers, bulk carriers, container ships, and general cargo ships. Moreover, Vietnamese shipowner and operator Vinalines Shipping has a stake in 14 Vietnamese ports.
5-April-2018
Greek dry bulk shipowner and operator Omicron Ship Management is exiting the handysize dry bulk segment with the sale of 2001 built 28K DWT MV Omicron Way (ex MV Hibernia) to Chinese shipowners for around $5.1 million. MV Omicron Way (ex MV Hibernia) is not due for special survey until April 2021. In 2013, Greek dry bulk shipowner and operator Omicron Ship Management bought MV Omicron Way (ex MV Hibernia) from German investment company Salamon AG for around $7 million. Currently, Athens-based Omicron Ship Management has a fleet of 4 dry bulk panamax carriers. In January 2017, Dinos Economou-led Omicron Ship Management bought panamax dry bulk carrier 76K DWT MV Omicron Light (ex Medi Venezia) from Italian shipowner and operator d’Amico for around $8 million. In August 2015, Omicron Ship Management bought 2006 built panamax dry bulk carrier 77K DWT MV Omicron Sky (ex MV Rondeau) from Japanese shipowner for around $14 million.
5-April-2018
Indonesian government determined to postpone new cabotage limitations on coal shipping until 2020. In early 2018, the Indonesian government proposed to limit shipments of coal to Indonesian-flagged ships. However, cabotage restrictions postponed after tremendous objections from coal producers and shipowners. Indonesian Coal Mining Association is eager to assist Indonesian new cabotage regulations if national shipping companies are available. Moreover, Indonesian new cabotage regulations will also affect palm oil cargoes.
5-April-2018
China imports approximately 40% of its soybean from the USA. Soybean trade accounts for 5% of total dry bulk ton-mile demand. If South American soybean farmers are able to fill the gap, 5% of total dry bulk ton-mile disappear could be negligible. The US-China trade war timing is terrible for the weak dry bulk shipping market. Tariffs also affect dry bulk shipping companies’ stocks.
1-April-2018
AAL Shipping (formerly Austral Asia Line) has been endeavoring to set up a Heavylift MPP (Multipurpose) Pool. MPP (Multipurpose) chartering rates continue increasing steadily and MPP (Multipurpose) companies discuss consolidation of their fragmented MPP (Multipurpose) market. AAL Shipping is controlled by Schoeller Group led by Heinrich Schoeller. Heinrich Schoeller is also the chairman of Columbia Shipmanagement. According to Heinrich Schoeller MPP (Multipurpose) recovery is moderate and progressive. AAL Shipping is chartering in MPP (Multipurpose) ships by commercial management agreements. AAL Shipping (formerly Austral Asia Line) has a fleet of 14 owned MPP (Multipurpose) ships and chartered in 10 MPP (Multipurpose) ships. Singapore-based AAL Shipping is a specialist in this market of MPP (Multipurpose) between 22K DWT up to 32K DWT. AAL Shipping has been considering chartering-in large MPP (Multipurpose) and operating them in semi-linear services.
1-April-2018
Norwegian shipowner and operator AS J. Ludwig Mowinckels Rederi is moving to exit the 2008 built panamax dry bulk carrier 75K DWT MV Ogna after MV Ogna produced losses over several years, with Chief Executive Officer Geir Belsnes confirming the sale as part of a wider effort by AS J. Ludwig Mowinckels Rederi to reshape exposure and improve fleet economics. MV Ogna was built at Chinese shipyard Jiangsu Rongsheng Heavy Industries, and MV Ogna is reported ready for inspection in Singapore, indicating the ship is being positioned to facilitate buyer due diligence and accelerate transaction timing. MV Ogna and sister ship MV Goya are owned on a 50/50 basis with compatriot Wenaas Group, while AS J. Ludwig Mowinckels Rederi manages MV Ogna and MV Goya, reflecting a partnership model in which capital is shared but operational control and commercial oversight sit with AS J. Ludwig Mowinckels Rederi. The background to the investment dates back to 2007, when Norwegian Wenaas Group and AS J. Ludwig Mowinckels Rederi acquired MV Ogna and MV Goya as newbuilding resales from Golden Ocean Group for $45 million each, with MV Ogna and MV Goya initially supported by a seven-year time charter to Danish shipowner and operator Torm at $24,000 per day, a structure that originally provided long-term earnings visibility and helped justify the entry price. Following successive shipping crises and the subsequent restructuring of Danish shipowner and operator Torm, the charter rate was reduced, and Danish shipowner and operator Torm redelivered the panamax dry bulk carriers in 2015, after which both panamax dry bulk carriers have been employed on shorter-term charters, leaving earnings more exposed to spot market volatility and weakening the investment case that had been built around stable cover. In today’s market, MV Ogna and MV Goya are understood to be worth roughly $14.5 million each, illustrating the scale of value erosion from the original acquisition level and explaining why AS J. Ludwig Mowinckels Rederi has been focused on fleet renewal and balance-sheet discipline rather than maintaining loss-making legacy tonnage. The MV Ogna sale also sits within a broader pattern in which AS J. Ludwig Mowinckels Rederi has used selective divestments and partnership structures to manage risk, recycle capital, and adjust fleet composition, with management control allowing AS J. Ludwig Mowinckels Rederi to standardise operating practices, control costs, and pursue commercial strategies across ships even when ownership is shared. AS J. Ludwig Mowinckels Rederi traces its roots to Bergen, Norway, where AS J. Ludwig Mowinckels Rederi was established in 1898 by Johan Ludvig Mowinckel, who served as prime minister of Norway, and AS J. Ludwig Mowinckels Rederi is currently owned by charitable trusts, a structure often associated with long-term stewardship, conservative capital allocation, and a preference for disciplined fleet decisions over purely speculative growth. With the divestment of MV Ogna and the planned sale of MV Goya, AS J. Ludwig Mowinckels Rederi’s remaining fleet is expected to include the 2005 built 76K DWT MV Heina and the 2012 built 158K DWT MV Vinga, leaving AS J. Ludwig Mowinckels Rederi with a more concentrated fleet profile and a clearer path to renewal through targeted investments rather than carrying underperforming panamax dry bulk carriers.
1-April-2018
Denmark based J Poulsen Shipping and Germany based Hamburg Bulk Carriers (HBC) merged to form Poulsen HBC Line (PHL) in 2014 with the idea of getting better utilisation out of Hamburg Bulk Carriers (HBC)’s dry bulk fleet by scheduling breakbulk backhaul cargoes traditionally carried by multipurpose (MPP) ships.
Swedish tanker and ro-ro giant Stena Group’s breakbulk chartering arm Austen Maritime Services (AMS) has entered a partnership with Poulsen HBC Line (PHL). Austen Maritime Services (AMS) and Poulsen HBC Line (PHL) signed a deal.
Austen Maritime Services (AMS) was introduced as a joint venture between Stena and P&O Maritime, is thoroughly known as a port agency. AMS and PHL venture has around 25 vessels in Asia at a given time, about 20 of these from the core Hamburg Bulk Carriers (HBC) dry bulk fleet. Hamburg Bulk Carriers (HBC) dry bulk carriers arrive in China carrying grain or fertilizer and leaves carrying breakbulk cargo, but it is not an easy market for a foreign operator looking for industrial backhauls. In China, backhaul cargo has been dominated by local traders. Currently, Hamburg Bulk Carriers (HBC) has a fleet of 28 bulk carriers.
1-April-2018
Analyst Clinton Webb at AXIA Capital Markets released dry cargo rate forecasts for 2018 and 2019. According to analyst Clinton Webb demand will continue to outpace supply growth and that will trigger capesize, panamax and supramax dry bulk carrier rates. Analyst Clinton Webb believes that 2017 was just the first part of a dry bulk market recovery. AXIA Capital Markets’ report explains that in Q1 2018 dry bulk shares have been flat due to new building deliveries and Chinese New Year. Analyst Clinton Webb at AXIA Capital Markets raised its dry cargo rate forecasts by 20% on average for 2018. Analyst expects the upward trend to continue in 2019 due to the current order-book-to-fleet ratio at 9.6%.
1-April-2018
Chinese shipowner and operator Sinotrans Shipping appointed of Su Xingang as its new chairman. Su Xingang was a retired transportation minister in China. Previously, Su Xingang worked at various positions in the maritime sector. Su Xingang was a chairman of China LNG Shipping and VP of China Merchants Group. Diversified Chinese shipowner and operator Sinotrans Shipping has a fleet of 37 dry bulk carriers, 13 container ships, and 2 tankers. Chinese shipowner and operator Sinotrans Shipping replaced ex-chairman Li Zhen with Su Xingang.