The dry bulk freight market has put an impressive performance of late; the Baltic Dry Index (BDI) has tripled since bottoming out in February. Now, dry bulkers are in cashflow positive territory, sufficient to cover daily operating expenses (OpEx) and, partially, the financial cost.

Safe Bulkers has sold two newbuildings to its chairman Polys Hajioannou for $46m to preserve liquidity.

Jinhui Shipping continues to divest assets, with the latest being the sale of a 61,414 dwt  Hong Kong-flagged supramax pair to a shipping fund for a total of $28.5m.

Chinese bulker owner Jinhui Holdings continues to sell ships, divesting two relatively new supramaxes for $28.5m in total.

Teekay’s Tanker Investment Ltd is switching its strategy from asset play and selling its vessels to a longer term operating one due to current low values for tankers.

DHT Holdings reported an increase first quarter earnings with a $31.5m profit despite an $8.1m impairment charge related to exiting the suezmax sector.

Cash-strapped Dryships has sold its stake in offshore rig owner Ocean Rig for $49.9m, as well as selling three vessels to its chairman and ceo George Economou.

Gener8 Maritime is selling its only MR Tanker for $17.5m.

Star Bulk Carriers has joined Scorpio Bulkers in offloading capesizes with the sale of four newbuildings under construction.

Norden has sold a capesize vessel at a $12m loss.

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