Despite a soft market, Knightsbridge Tankers reported a profit of $6.3m in the second quarter, bolstered by one-time gains of $5.8m from settlements and charter terminations.

Diana Shipping has signed a memorandum of agreement to acquire a resale capesize bulker for a purchase price of $58m from an unaffiliated third party seller.

Pan Ocean has announced on Tuesday an investment to buy two capesize bulk carriers at a total price of KRW114.88bn ($112.83m).

Frontline 2012 has swung back to the black in the first quarter ended 31 March 2014 as its operating income received a boost from taking in four MR product tankers.

Courage Marine is making a tidy $1.5m off a quick two-year turnaround job on an ageing capesize bulker, after agreeing to scrap the 151,688 dwt 1995-built Cape Warrior for $8.7m.

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.

Knightsbridge Tankers has announced it will buy five capesize newbuilds from Frontline 2012 and a further 2013-built capesize from Karpasia.

South Korean authorities are battling a bunker spill off Busan after a capesize bulker and a bunker tanker collided at the weekend.

Capesizes are in for a good year in 2014, according to Arrow Shipbroking managing director of research, James Leake.

The Baltic Exchange has launched three new capesize routes focused on the China market.