Freight rates in the dry bulk shipping market have bottomed out and spot rates, especially for larger sized vessels, are expected to increase, according to a research note from DNB Markets.

China Cosco Holdings has pocketed approximately RMB466.49m ($74.62m) from the sale of 16 vessels to the scrapyard in the first quarter of this year.

Frontline 2012's remaining 25 capesize newbuilds will be delivered into Knightsbridge Tankers' fleet under a deal announced today.

Following legal action from the International Transport Workers’ Federation (ITF), the owner of the Munzur, deatined in the UK, has agreed to pay its crew $35,000 in unpaid wages as well as the cost of their repatriation.

The crew of Panamanian-flagged vessel Munzur, detained by the UK Coastguard for 14 failings, has asked the International Transport workers Federation (ITF) to retrieve over $35,000 in unpaid wages.

Mercator Lines (Singapore) has slashed its full year losses on higher margins amid the challenging dry bulk shipping market.

While some shipping communities many be sitting on the fence just now considering whether now is the time to make a final move into the new ship market, many leading Greek shipowners have expressed their view in cash terms.

Genco Shipping & Trading has voluntarily filed Chapter 11 petitions to implement a pre-packaged financial restructuring in an effort to reduce the company's total debt by $1.2bn, the shipowner announced on Monday.

South Korea's Pan Ocean has cancelled a shipbuilding contract for a semi-submersible heavylift carrier at compatriot yard STX Dalian.

The United Filipino Seafarers (UFS) group has hit out at the country over its latest audit failure by the European Maritime Safety Authority (EMSA).