An estimated 120 million tpy is being shipped from Indonesia for the export market, and an increasing proportion of this is being sold on an index-linked basis as market participants seek to manage Indonesian coal price risk.
This month, Genco Shipping and Trading Limited has completed its vessel acquisitions following the delivery of two capesize vessels and one ultramax vessel.
A report by global shipping consultancy Drewry has predicted that charter rates will improve on present levels, as a result of moderate increases in vessel demand and low growth in vessel supply due to restrained new ordering and a thin orderbook.
Scorpio Bulkers receives commitment for a loan facility with a leading European financial institution worth up to US$34 million for the financing of two kamsarmax vessels.
On 4 September, the world’s most eco-friendly bulk carrier, Vikki, was delivered to ESL Shipping from the Jinling shipyard in Nanjing (China).
On 9 September 2018, Star Bulk Carriers Corp. announced it is to equip its entire fleet with exhaust gas cleaning systems (scrubbers) before the implementation date of the new IMO sulfur emission cap regulation in January.
Lloyd’s Register has granted an AiP to Jiangnan Shipyard Group Co. Ltd’s new LNG dual-fuelled newcastlemax concept.
The scrubbers are to be retrofitted on vessels within its fleet prior to the implementation date of the new sulfur emission cap regulation.
Diana Shipping enters a time charter contract with Cargill International S.A., Geneva for a kamsarmax dry bulk vessel.
On 31 August, ESL Shipping Ltd finalised its acquisition of all outstanding shares of AtoB@C Shipping.
Thomas Rønningen has been appointed as new CEO of Songa Bulk ASA to replace Herman Billung.
Star Bulk Carriers Corp. enters an en bloc definitive agreement with E.R. Capital Holding GmbH & Cie. KG, through which the company will acquire a total of seven dry bulk vessels in the next two years.
Oldendorff Carriers signed a 25 year agreement with NS2PC and will do the ocean transportation of the coal, as well as the transhipment and delivery to Nghi Son.
Diana Shipping Inc. has entered into a time charter contract with Pacific Bulk for the capesize dry bulk vessel, m/v Semirio.
CMA CGM, the French shipping company, has said that its services may ‘undergo some adjustments’ as a result of typhoons affecting Asia, in particular China.