South Korean bulker owner Samsun Logix has filed for bankruptcy protection for the second time in six years.
The dear old Baltic Dry Index (BDI) advanced to a year’s high of 829 points on Wednesday, beating the four-month average of 576 and encouraging headline writers and analysts alike.
The Baltic Dry Index (BDI) hit a year high of 829 points on Wednesday, and while still at a very low level it there are some signs of a turnaround for the beleaguered dry bulk sector.
Alternative investment firm Uni-Asia Holdings’ strategy of having a fleet of wholly or majority owned bulk carriers providing recurring charter income base is gradually taking shape, as the charter income registered a 30% increase year-on-year to $6.02m.
The now completed Connecticut Maritime Association (CMA) event was famously compared to a giant “scrum”- when it gets busy, as was the case for its entire three days, it is difficult to navigate from one side of the venue to the other. Though given a theme - “Tradition - Celebrating the Best, Improving the Rest”, at any point in time, many diverse programme threads would have been occurring.
As forecasted, Pacific Basin Shipping posted a $285m 2014 loss on the back of almost flat revenue rises, and charges on chartered-in vessel costs and bunker costs as well as for the disposal of its towage-related business.