Shipping

Rates for capsize, supramax and panamax vessels all firmed in week 46 as higher commodity prices boosted demand for shipping.

The latest quarterly iShip Index, published by the IMDO, shows that shipping and port activity in the Republic of Ireland rose by 2% in 3Q16 compared to 3Q15.

Vessel Value has reported the five biggest dry bulk spenders in the last year.

Moderating vessel supply growth with a small improvement in the outlook for seaborne trade will help reduce overcapacity and enable a recovery in the dry bulk shipping market, according to Drewry.

Japanese shipyards received just two orders to new dry bulk carriers in October, compared to 27 the year before.

Eagle Bulk Shipping acquires a resale 2017-built 64 000 DWT SDARI-64 ultramax dry bulk vessel constructed at Chengxi Shipyard.

Fortescue has secured a US$473 million funding agreement from CDB Leasing for its very large ore carriers.

Eagle Bulk Shipping Inc. acquires a 2016 built 61 000 DWT NACKS-61 ultramax dry bulk vessel – the company’s first vessel acquisition in six years.

As of 1 January 2017, Carisbrooke Shipping and Nova Marine Carriers will consolidate all commercial shortsea bulk shipping activities.

Chanakya Kocherla has indicated his intention to retire as an Executive Director of Pacific Basin Shipping Ltd.

Diana Shipping Inc. has, through a wholly-owned subsidiary, provided notice of cancellation of a shipbuilding contract for a kamsarmax dry bulk carrier.

SEA/LNG, which promotes the use of LNG as a marine fuel, has welcomed an IMO decision to introduce a global sulfur cap on marine fuels in 2020.

On 21 October 2016, the biggest agri-bulk vessel to berth at the Port of Sheerness arrived ready to be loaded with a cargo of 30 000 t of milling wheat.

DryShips sells five of its panamax vessels for an aggregate gross price of US$29.4 million.

US coal company, Cloud Peak Energy, has contracted to export around 1 million short t of thermal coal to Asian markets.