China’s increasing use of scrap in steel production is likely to negatively affect coking coal imports and, in turn, damage the market for large dry bulk vessels, including Capesizes and Kamsarmaxes, Fairplay was told.
Rowe says bulkers are still cheap, even though the number of vessels swapping hands is among the highest since the height of the dry bulk boom in 2007.
The better conditions come after the tanker market suffered its worst year in 25 years, while the dry cargo market has slowly recovered from a sustained downturn.
If the plan is approved, Sinotrans will be delisted from the Hong Kong Exchange early in 2019.
COSCO Shipping Specialized Carriers has ordered up to nine 62,000 dwt open-hatch pulp carriers from sister shipyard COSCO Shipping Heavy Industry.
Klaveness Combination Carriers is going ahead with another 83,563 dwt unit at Jiangsu New Yangzi, one of Yangzijiang’s shipyards.
Rizhao Jurong Port in Shandong, China, is seeking a listing on the Hong Kong Stock Exchange.
Fleet to transport coal for German energy group RWE.
Some shipbuilders continue to be in the red as orders slow down.
Khalid Hashim has suggested that sufficient LSFO will be available by 2020.