On Monday the Baltic Dry Index (BDI) equalled its all time low of 29 years ago dropping to 554 points. There was a certain sense of inevitability about this news. It was the 13th trading day in a row the index had dropped and it has fallen for 47 out of the last 51 days.
Scorpio Bulkers has signed a memorandum of understanding (MOU) with ABN Amro and the Export-Import Bank of China, for a loan of up to $234.9m.
Scorpio Bulkers has announced a commitment from ABN Amro for a $39.6m loan facility.
Aggressively expanding Scorpio Bulkers has secured $540m in financing 24 of its newbuildings.
Some of the top names in the shipping industry were honoured at the 26th Seatrade Awards in London on Monday evening in the presence of HRH The Princess Royal.