It is becoming increasingly difficult to forecast the dry bulk freight market. At this point, on the cusp of August, that would once have spelled a dead calm, there is still activity but direction seems harder to call.
It was another week in which the dry bulk market defied if not gravity, then at least apparent logic.
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.
Courage Marine is continuing to bite the bullet, taking an approximately $1.5m loss on the disposal of the 150,000 dwt Panama-flagged Capesize bulker Cape Pioneer for $6.4m for scrap.
Japan’s Kawasaki Kisen Kaisha (K Line) has entered into an agreement with Emirates Global Aluminium (EGA) for a long term contract to transport bauxite ore.
Few people were calling the bulk market bullish at the start of the week – and not many at its end – but despite the oversupply of dry bulk tonnage dragging on physical, an outbreak of “cautious optimism” in the Asian commodities sector has been...
Capesize bulker scrapping rates are soaring as owners struggle with poor freight market.
Japan’s Tsuneishi Shipbuilding has completed its first retrofitting installation of a Ballast Water Management System (BWMS) on a capesize bulker.
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...
Capesize bulker rates fell 23% in February dragged down by the Chinese New Year holidays, however, panamaxes showed some signs of bottoming out according to a report from the Singapore Exchange (SGX).