Dry bulk shipping market

The Baltic Exchange has reported that there has been a slow start to the 2024 dry bulk market with limited fresh enquiry in the ultramax sector and a sedated start for the panamax sector.

Indian Navy commandos secured the capesize bulk carrier, Lila Norfolk, after the vessel was boarded by six armed pirates off the coast of Somalia on the 4 January 2024.

Castor Maritime Inc. has announced the sale of the M/V Magic Venus for US$17.5 million with an expected net gain of US$3.5 million.

The World Shipping Council, the International Chamber of Shipping and BIMCO have expressed their thanks to the 12 nations that have jointly condemned the attacks on ships in the Red Sea.

ESL Shipping has improved its rating in EcoVadis sustainability assessment from Silver to Gold, placing the company in the top 5% of companies in the industry assessed by Ecovadis.

The first shipment of copper concentrate from Ivanhoe Mines’ DRC Project has arrived by rail at Lobito, Angola.

Diana Shipping Inc. has announced the signing of a time charter contract with Cargill Ocean Transportation for the dry bulk carrier m/v DSI Pollux.

Safe Bulkers, Inc. has announced an agreement for the acquisition of one Japanese kamsarmax class dry-bulk vessel.

Castor Maritime Inc. has announced the sale of the M/V Magic Orion for US$17.4 million with an expected net gain of US$2.0 million and the completion of the sale of the M/V Magic Argo.

The Panama Canal Port Authority have prepared plans to increase daily transits in January with the addition of six daily slots.