GoodBulk Ltd., a leading owner and operator of dry bulk vessels, today announces the culmination of its first investment cycle following the disposal of all its remaining vessels and a distribution of $3.01 per share which will be the 22nd to be given to investors. GoodBulk also announces its financial results for the second quarter 2023. Highlights • Following a successful almost 7 years and with the guidance of its exclusive manager, C Transport Maritime (CTM), GoodBulk’s first investment cycle is closing and the company is returning to investors all ...

The shipping market had a mixed performance over the summer period. In its latest weekly report, shipbroker Xclusiv Shipbrokers said that “summer moved on and September is “ante portas” but things remain quite unchanged. The Chinese economy is still struggling to find her footsteps after the end of the zero Covid policy. China’s numbers concerning steel, iron ore, coal and soybean have improved compared to the same period last year, but this seems not enough to create the conditions for a dynamic upward trend in the dry market freight rates”. ...

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Reachy Shipping (SGP) Pte. Ltd., for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia. The gross charter rate is US$11,250 per day, minus a 5% commission paid to third parties, for a period until minimum February 20, 2024 up to maximum April 20, 2024. The new charter period is expected to commence ...

Deltamarin has signed an agreement with Fujian Mawei Shipbuilding Ltd. for the design and engineering of the new series of Neptune Lines 4200 CEU Pure Car & Truck Carriers (PCTCs). Neptune Lines and Deltamarin have together developed a new-generation, future-proof PCTC concept based on state-of-the-art technology, emphasizing environmental features alongside operational performance and safety. The work began already in 2020, analysing the means and technologies to enhance the environmental and operational performance of the future fleet. The engineering contract, signed with the builder Fujian Mawei Shipbuilding, is a direct continuation ...

The ship recycling market has been hampered by reduced activity for quite some time. However, shipping experts feel that the coming weeks could offer some respite. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “ss the days grow shorter now that the first of September has arrived, the engaging thoughts are whether this is the month which will see more supply of recycling candidates come into the market. We continue to see some of the vintage, Far Eastern controlled, dry bulk units coming for sale or arriving ...

NAVTOR, a global leader in maritime e-Navigation and performance solutions, has announced the opening of its eleventh office with the arrival of NAVTOR Hellas. The Athens-based operation, situated at the Port of Piraeus, is an evolution of an existing, long-standing partnership with distributor Space Electronics. CEO Tor Svanes says the move demonstrates the importance of this key shipping market to his ambitious maritime technology firm. Concrete commitment “Everybody is aware of Greece’s standing within the context of global shipping,” Svanes explains. “What they may be less aware of is the ...

China’s iron ore imports have increased so far in 2023, helping sustain dry bulk market rates. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been so far a positive year for global iron ore trade. In Jan-Jul 2023, global loadings of iron ore increased by +3.9% y-o-y to 892.6 mln tonnes, from 859.1 in the same period of 2022, based on Refinitiv vessel tracking data. It is also just above the 883.5 mln tonnes loaded in Jan-Jul 2021, which was the last all-time record. Exports from ...

Russia’s crude oil export routes are in a state of constant flux, as the exporter is shifting volumes to other clients/countries, China being one of the main ones. As such, the importance of alternative and more cost-effective routes is increasing. In its latest weekly report, shipbroker Gibson said that “voyages through the Northern Sea Route (NSR) are no longer a surprise. Russia has been trying to develop this route for many years now, making it one of its strategic priorities in the 2000s. Reports of tanker shipments date back over ...

The ship recycling activity has fallen by almost 14% so far this year, according to data from Xclusiv Shipbrokers. This, despite the fact that prices haven’t fallen that much in Southeast Asia. In its latest weekly report, the shipbroker said that “despite the fact that the demolition market is at almost similar levels as one year ago, with prices in India, Pakistan and Bangladesh being 7%, 10% and 2% down, while in Turkey being roughly 30% up, we have witnessed a significant drop in the total demolition volume compared to ...

The dry bulk market is benefiting from the increase of seaborne coal trade in Asia, with China increasing its imports considerably during the course of the year. In its latest weekly report, shipbroker Intermodal said that “in recent weeks, Chinese economic data has suggested that the world’s second largest economy may be slowing this year and into 2024. Q3 GDP growth was 6.3% (vs. 7.3% expected), imports and exports fell in value by -7.98% and -13.9% respectively, while youth unemployment rose by 21.3%. All the data points to a slowdown ...

High prices and low rates haven’t been able to deter owners from booking more newbuilding orders. In its latest weekly report, shipbroker Allied said that “the market remains in a similar state to that seen over recent weeks, with a shift in contracting patterns perhaps more likely as the summer holiday period ends and everyone returns to business as usual. Prices remain high due to demand for high value vessels, inflation, and so on. In the case of bulkers in particular, this has driven something of a disconnect between NB ...

With “Talent Athena”, COSCO SHIPPING adds another digital supply chain product to its portfolio. Following “For For Tune” for shipping cargo from Europe to China launched on 28th August, customers can now import goods from China to Greece and neighbouring countries in one stop. The new door-to-door service “Talent Athena” is starting on 31st August and includes inland transportation services in mainland China and Greece as well as Albania, Bosnia, Bulgaria, North Macedonia and Serbia, as well as customs declaration services at the port of departure, shipping services and customs ...

OceanPal Inc., a global shipping company specializing in the ownership of vessels, announced that the Company today agreed to become a strategic partner and invest in a Norwegian entity, RFSea Infrastructure II AS, that will construct, at Wuhu Shipyard Co., Ltd. (China), under two separate newbuilding contracts, two 6,600 dwt methanol-ready, stainless steel chemical tankers with expected deliveries during the fourth quarter of 2025 and the first quarter of 2026, respectively. The transaction remains subject to the satisfaction of customary closing conditions. The Company is partnering with a private London-based ...

Lloyd’s Register (LR) has further enhanced its capabilities in Greece and deepened its commitment to Greek clients, with the appointment of several additional global experts to its Athens office. Leading the charge is Elina Papageorgiou, LR’s Global Strategic Growth Director, who has been named LR’s Greece Vice President. In addition to leading our business in Greece, Elina manages a dedicated global strategic growth team spread across key maritime hubs. She has a wealth of global experience, having spent 20 years at LR and across the industry in a variety of ...

The ship recycling market is still facing complications. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as India celebrates the ‘Chandrayaan-3’ mission to the Moon, making space history being the first nation to land at the Moon’s South Pole, no such celebrations are paramount from the Alang recycling yards with local market sentiment remaining cautious. There is currently no serious demand of the finished products from the domestic rolling mills, hence the weaker price levels on offer. As such, one small step from Pakistan is evident, but ...