Shipping

DryShips, Inc. is to sell two of its older panamax dry bulk carriers for US$18.8 million.

“Increased shipments of iron ore by major mines will increase supply pressure, but steel mills' profits may increase further as downstream demand is expected to remain firm that will support demand and prices of high grade ores.”

Mitsui O.S.K. Lines, Ltd.’s coal carrier OI MARU was delivered to Imari Shipyard and Works of Namura Shipbuilding Co., Ltd. on 14 June.

The Navios Altair I, a 2006-built, 74 475 DWT Panamax vessel was acquired for US$11 million.

Earlier this week, Star Bulk Carriers Corp. (Star Bulk), announced its profitable unaudited financial and operating results for the first quarter ended 31 March 2018, with a key highlight being the 86.62% increase in voyage revenue compared to the same period in 2017.

SWS and LR have entered an agreement to jointly develop an LNG dual-fuelled newcastlemax bulk carrier.

Genco Shipping & Trading Limited has closed on its new five year US$460 million credit facility.

China has arrested 245 people for illegally exporting scrap metal to southeast Asian countries.

Diana Shipping enters a time charter contract with Koch Shipping Pte Ltd for another capsize bulk vessel.

Blue Planet Shipping is anxiously awaiting the return of one of their Masters after he went missing at sea on Monday evening.

Maly Port Stevedoring Company is planning to invest more than US$3.7 million in environmental protection to minimise the negative consequences of coal transhipments.

Globus Maritime Limited is set to release its first quarter 2018 financial results on 6 June.

Euroseas has completed the spin-off of its dry bulk fleet into a separate publicly listed company, EuroDry Ltd.

In late May, GoodBulk appointed a new Independent Director and Chief Financial Officer.

Oldendorff Carriers has partnered with ERMA FIRST for ballast water treatment systems.