Dry Cargo

China’s New Dayang Shipbuilding inked shipbuilding contracts with two Chinese shipping companies, Taizhou Mingxing Shipping and Suzhou Xinxin Shipping, for the construction of two 59,990 dwt bulk carriers.

Trading house Marubeni and shipowner Klaveness are merging their dry bulk panamax pool to create a fleet of approximately 30 ships, making it the world’s leading panamax pool operator.

China Merchants Energy Shipping plans to acquire the equity from several companies under Sinotrans Shipping as part of a consolidation of shipping assets.

The multipurpose shipping (MPV) sector is forecast to see a rise in earnings this year on the back of stronger cargo demand relative to capacity, according to analyst Drewry.

Oldendorff Carriers has planned a naming ceremony to take delivery of four new ships from Japan’s Oshima Shipbuilding in March 2020.

Dubai-based Tomini Shipping has taken delivery of three new ultramaxes last week as part of the company’s fleet renewal strategy.

Towards the end of last year Tsuneishi Shipbuilding delivered the 500th newbuilding in long running bulker range the Tsuneishi Economical Standard Ship (TESS).

Zhejiang Xiehai Group has inked shipbuilding a contract with Zhejiang Xinzhou Shipbuilding for the construction of two plus two 45,700 dwt bulk carriers.

The shipping industry has a number of reasons to be cheerful as it enters a new decade, despite some serious challenges in the immediate future, according to accountancy and business advisory firm BDO.

Japan carriers NYK and MOL have entered into agreements with compatriot Kyushu Electric Power (Kyuden) on the deployment of the world’s first LNG-fuelled large coal carriers.