Dry bulk shipowners are not helping their own cause by a failure to scrap vessels, which will lead to an “extremely volatile” market recovery warns Precious Shipping.

This week began with a blast as the Baltic Dry Index (BDI) reached a three-year high to 1,503 points on Monday before plunging down toward the 1,429 by mid-week. The short-lived joy reminisced a last summer hurrah as freight rates made the final...

New York-based shipping, trading and finance enterprise Foremost Group has approached China’s Shanghai Waigaoqiao Shipbuilding (SWS) to build two additional 180,000 dwt bulk carriers, adding on to an earlier order placed in June this year.

Taiwan’s Wisdom Marine has aborted a plan to build two new 115,000-dwt aframax tankers at Japan Marine United Corporation.

ESL Shipping has launched its second LNG-fueled handysize bulk carrier from China’s Jinling Shipyard, in line with the company’s move towards green sea transportation.

It is another shining chapter for the Baltic Dry Index (BDI) as the rates roared higher into record-breaking zone. On Wednesday, the BDI powered to 1,449 points, the highest level in the year and up 34 points at day-on-day basis.

Kolkata-based Apeejay Shipping has purchased a 74,107-dwt secondhand panamax bulk carrier, bringing its fleet size to a modest four vessels with a total capacity of 441,416 dwt.

The dry bulk shipping market is projected to enjoy an uptick in charter rates on the back of a tightening demand-supply equilibrium, according to Uni-Asia Group, which saw its shipping business returned to profit in the first six months of this year.

After a wild bear chase last week, the bulls came charging back to drive freight rates back up again toward the 1,000 points level on Baltic Dry Index (BDI). Spearheading the bull charge were capesize rates which totally reversed course from last...

Pacific Basin is spending $104.6m on five bulk carriers to renew and expand its fleet, as the company looks to position itself for a recovery of the dry bulk market.