The Baltic Exchange has outlined changes to its indices reflecting the growth in sizes of vessels.

The Greek shipping community has long slammed the Athens government for not taking advantage of the potential the maritime industry offers to the struggling Greek economy and the latest overview of the Greek fleet adds weight to the argument.

Riding high on wave of market optimism, freight rates have entered an upwards phase as result of seasonally high demand for steel and iron ore in China. The bullish market is prompting freight market participants to seize the moment and capitalize on the flow of steel production in China.

Freight rates might never be the same – at least as compared to last year’s doldrums - and instead are looking to push to new highs.  It may be some way off the “boom-time” highs but the Baltic Dry Index (BDI) pushed past the 1,000-point level, its steepest climb since mid-February 2017.

No one can look back on their schooldays and say with truth that they were altogether unhappy, and the freight market might have reminded us of this bittersweet memory during the week.  

In an unusual diversification shipping, offshore and logistics company Thoresen Thai Agencies (TTA) is buying Pizza Hut in Thailand.

Golden Ocean has delayed the delivery of 10 newbuildings and agreed price cuts of $15.3m in total.

Pacific Basin Shipping saw its 2016 net loss widen to $86.5m from $18.5m previously as record low dry bulk market conditions significantly undermined its ability to generate satisfactory results and revenue slid 14% to $1.09bn from $1.26bn previously.

The stars it seems are aligned - and depending on your point of view - 2017 is going to be the year of the dry bulk recovery or instead a launchpad for greater market fluctuations to come.

Bahri Dry Bulk Company (BDB), a subsidiary of the Bahri Group, and Koninklijke Bunge have formed a joint venture to establish an ocean freight supplier for dry bulk import and export flows in the Middle East.

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