16-April-2017
US investment bank JP Morgan’s shipping arm Global Maritime bought 11 dry bulk carriers since November 2017 and now ordered 12 capesize and newcastlemax dry bulk carriers in Far East Shipyards for $500 million. Each capesize dry bulk carrier will cost $45 million and will be delivered in 2019. US investment bank JP Morgan’s shipping arm Global Maritime works closely with Athens based Livanos Group. JP Morgan analyst Noah Parquette predicts freight rates will strengthen in 2018.