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Bulk Carrier Trends

London P&I Club Sees Encouraging Growth

London P&I Club Underwriting Director Reto Toggwiler

Following the recent completion of the 2018 renewal, the London P & I Club saw an encouraging 2.5m gt, or 5.8% year-on- year increase in its mutual business, to 45.4m gt.   The club’s underwriting director, Reto Toggwiler, says, “While the renewal period generally saw rates come under pressure,

Ports of Indiana: Building on Success

(Photo: Ports of Indiana)

The Ports of Indiana is a statewide port authority, established in 1963, which operates three ports: two on the Ohio River, one on Lake Michigan. Port officials refer to the three as “America’s Premier Inland Port System.” They cite location, location, location, providing access via two critical freight

Golden Ocean Boosts Dividend as Q4 Financials Beat Street

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

Dry bulk shipper Golden Ocean proposed a bigger than expected dividend for the fourth quarter on the back of forecast-beating results on Tuesday, and reiterated the market was getting better.   The company, controlled by Norwegian-born billionaire John Fredriksen, returned to profit in the third quarter

China, not Trump, Drives U.S. Coal Revival

A typical coal cargo underway on the inland rivers (CREDIT: Inland Marine)

If China does seek a way to retaliate against U.S. proposals to impose import curbs on steel and aluminium, then targeting President Donald Trump's favoured coal would be tempting.   One of Trump's key campaign promises in the 2016 election victory was to end the war on what he termed "beautiful, clean" coal.

Ocean Yield Acquires Two Handysize Dry Bulkers

Photo: Ocean Yield Official Linkedin Page

 Norwegian shipowner  Ocean Yield announced that 100% owned subsidiaries of the Company has agreed to acquire two 2018 built handysize dry bulk vessels with 12-year bareboat charters to companies owned and guaranteed by Louis Dreyfus Armateurs Group (LDA).    The net cash purchase price is USD 18 million per vessel after a seller's credit.

Goldman Sachs, Macquarie Front Runners in HES Terminal Sale

File Image: A rendering of the The HES Terminal in the Port of Rotterdam (CREDIT: HES)

A consortium of infrastructure funds at Goldman Sachs and Macquarie is seen as the front runner in the sale of European bulk port terminal operator HES International, worth around 2 billion euros ($2.5 billion), industry sources said.   Morgan Stanley is mandated to sell the asset, two sources, whose organisations had considered bidding for it,

Kirby Closes Acquisition of Higman Marine

File Image (CREDIT: Higman Marine)

Kirby Corporation has announced the completion of the acquisition of Higman Marine, Inc. and its affiliated companies (“Higman”), an operator of tank barges and towboats participating in the inland tank barge transportation industry in the United States.   The total value of the transaction was approximately

ClassNK Updates PrimeShip-HULL Software

ClassNK has just released the latest version of its design support software PrimeShip-HULL (HCSR) Ver.5.0.0, developed in response to the IACS Common Structural Rules for Bulk Carriers and Oil Tankers (CSR BC & OT).   The new version incorporates the latest rule amendments to CSR BC & OT (Rule Change

Baltic Index Down as Capesize Rates Dip

© Viktoriya / Adobe Stock

The Baltic Exchange's main sea freight index fell for a fourth straight session on Thursday as demand for capesize vessels remained muted amid a week-long break in China.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down six points, or 0.

Hedge Funds Hook Shipping Stocks Grappling for Recovery

Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks.   Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry.   Hedge

Safe Bulkers 4Q Net Revenues Up by 34%

Image: Safe Bulkers

 Safe Bulkers reported fourth-quarter of 2017 revenues of $2.9 million $42.4 million increased by 34%  from $31.7 million during the same period in 2016.   Net loss for the fourth quarter of 2017 was $86.6 million as compared to $4.6 million, during the same period in 2016.   For the year, the company reported that its loss widened to $84.

Baltic Index Drops

© Björn Wylezich / Adobe Stock

The Baltic Exchange's main sea freight index dropped nearly 2 percent on Wednesday, weighed down by lower rates for capesize vessels ahead of a week-long Lunar Year break in China starting Thursday. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 19 points, or 1.

BIMCO: China Breaks New Ground… Again

© Igor Groshev / Adobe Stock

Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017.   Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the

Oldendorff Conducts Trial Transshipment in India

Photo: Oldendorff

 German shipping company Oldendorff Carriers has conducted a new transshipment operation of coal between two vessels, in the deep, protected water of the Andaman Islands within the Bay of Bengal, India.   The Andaman Islands are an Indian archipelago in the Bay of Bengal. There are roughly 300 islands,

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