A seafarer’s foot was severed in a towing operation at Australia’s Port Hedland, triggering an investigation from the Australian Maritime Safety Authority, reports said.

Australia's mining group Fortescue has ordered four VLOCs valued at $275m in total from a Chinese shipyard as it took steps towards reducing its costs and securing the supply of seagoing vessels.

There has been a surge in iron ore fixtures to China with 30 bulkers booked on the spot market two weeks running by buyers of iron ore in China.

Shipowners, charters and traders have been warned to check iron ore export cargoes from Mexico are “legally safe” due to the involvement of drug cartels in the country’s mining industry.

Precious Shipping reported a lower first quarter profit due to lesser one-off gains from newbuilding cancellations, and is confident about the outlook for dry bulk shipping.

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.

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

Classification society ClassNK and Rio Tino Iron Ore have signed a collaborative agreement focused on the safe maritime transport of iron ore.

Navios South American Logistics has signed a 20 year deal with Vale for the storage and transshipment of iron ore and commodities.

A recovery in the dry bulk shipping market could come as early as first quarter 2014 according to Precious Shipping boss Khalid Hashim.