Scorpio Bulkers has reduced its loss for the first quarter compared to the year-ago deficit, thanks to a surge in revenue from higher charter rates under improving operating conditions in the dry bulk shipping market.

A projected growing rate of China’s import of iron ore is expected to propel dry bulk shipping demand in 2017, according to a latest forecast by international shipping association Bimco.

The freight market is enjoying a pre-Easter surprise rally with rising rates, virtually unaffected the recent plunges in seaborne iron ore prices but some detect the beginning of some post-holiday jitters.

China Merchants Group and Sinotrans & CSC Group have completed a strategic reorganisation with the latter becoming a wholly-owned subsidiary of the former.

More commodities trading houses should own ships and good buys would be kamsarmaxes and supramaxes, according to Noble Group head of global freight Michael Nagler.

Jinhui Shipping and Transportation has sold its last handysize vessel at a price of $15m to Delica Shipping, as part of the company’s ongoing effort to downsize its dry bulk shipping fleet.

Taiwan’s Yang Ming Marine Transport saw its full year loss widened in 2016 over 2015 amid the continuing weak global dry bulk shipping market.

A pair of eco-friendly ultramax bulk carriers, Asian Summit and Asian Prominence, have joined U-Ming Marine Transport Corporation’s fleet following a christening and delivery ceremony held on Tuesday at Japan’s Oshima Shipbuilding yard.

The shine came off the commodities rebound this week, as the price of iron ore fell 4% on Wednesday (from a high above $90 per tonne this month) as traders anticipated a reduction of Chinese steel demand.

Capital Link’s 2017 Shipping Conference, now in its 11th year, drew a standing-room only crowd, with financial industry participants greatly outnumbering shipping people.