Nasdaq-listed Star Bulk Carriers Corp has penned a deal to acquire three capesize bulk carriers from E.R. Capital Holding for a consideration of $39m in cash and 2.1m common shares of Star Bulk.
A nascent dry bulk shipping recovery has lost steam following a fall in Chinese coal demand and a second round of Covid-19 lockdowns in Europe, despite strong demand for iron ore.
With Clipper Group ceo Peter Norburg leaving the group to head up Swire Bulk the Danish Shipping company has promoted Amrit Peter Kalsi to the top role.
Chilean dry bulk shipping company Naviera Chilena del Pacifico (Nachipa), is opening its first European office in Hamburg as it moves to an asset-light business model.
Xiamen ITG Group Corporation plans to purchase 100% stake equity of Baodarun (Xiamen) Investment from its controlling shareholder ITG Holding to grow its dry bulk shipping business development.
The China Navigation Co (CNCo) sees a better second half of the year for dry bulk shipping as Swire Bulk moves to become an independent company and is gearing up for the future with its liner business.