Seoul: South Korea-based Sungdong Shipbuilding & Marine Engineering landed a contract to build a total of 10 capesize dry bulk carriers including three options.

Dubai: FIS, freight and commodity swaps brokerage, has opened an office in Dubai, UAE in response to the growing market for freight and commodities and its proximity to Asian markets.

Bangkok: Thoresen Thai Agencies (TTA) has raised a considerable THB3.96bn ($133.15m) through a rights issue to fund its plans for dry bulk and offshore drilling fleet renewal.

New York: Freight rates of dry bulk carriers worldwide will register a “meaningful increase” by 2015 when demand starts to overtake the slowing vessel tonnage growth, according to Bank of America Merrill Lynch.

Jakarta: Bulker casualties involving nickel ore cargo liquefaction have resulted in insurance claims of over $200m according a broker involved in one of the cases.  

Beijing: China Merchants Group chairman Fu Yuning remains pessimistic about the dry bulk market and sees the sector remaining under pressure this year, according to local news reports.

Tokyo: Mitsui OSK Liines (MOL) has taken delivery of the Ore Salvador, a 297,076dwt ore-carrier, has been completed at Ariake Shipyard. The vessel is to serve on long term contract transporting ore from Vale.

Beijing: Brazil's state mining firm Vale has claimed that talks with China over allowing its 400,000 dwt dry bulk carriers to call at Chinese ports are “positive”, reports said.

Kuala Lumpur: Malaysian Bulk Carriers (Maybulk) saw 2012 full-year net profit plunge by nearly half to MYR66m ($21.2m) from MYR108m the year before while revenue fell to MYR262.3m from MYR363.9m previously.

Athens: Fighting delisted from the Nasdaq exchange, Greece's NewLead Holdings continues to switch from pure ship operation into the commodities business, signing to supply and deliver 1.48m metric tons of steam coal, a deal expected to generate ...