Dry bulk shipping market

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.

The Baltic Exchange has reported that the dry bulk shipping market has seen another week of corrections during the third week of December.

Star Bulk Carriers Corp. and Eagle Bulk Shipping Inc. have entered into a definitive agreement to combine their assets and create a global dry bulk leader.

Chinese company Jinhui Shipping and Transportation Ltd, has announced its entry into a Charterparty with Shining Steamship International S.A. for the leasing of the bulk carrier M.V. Ever Shining.

The Baltic Exchange reported that there have been general fluctuations and declining rates across all dry bulk vessel classes.

Pacific Basin Shipping Ltd has announced the closing of a US$150 million deal for a Sustainability-Linked 3-year Senior Unsecured Committed Revolving Credit Facility.

Star Bulk has completed the second repurchase of 10 million of its common shares from Oaktree.

At the end of November the positive momentum seen throughout the month continued with all bulk vessel classes seeing strong growth.