Japanese bulker operator Daiichi Chuo Kisen Kaisha restructures its business with the creation of two dry bulk units after emerging from civil rehabilitation in August 2016.
Japanese trading house Mitsui & Co has confirmed it has two Kamsarmax bulkers booked at China’s Yangzijiang Shipbuilding, plus two optional vessels.
The International Maritime Organization’s stringent global cap on sulphur emissions and a sharp rise in fuel bills could encourage further demolition of older vessels when emission regulations come into force from 1 January 2020.
The three-month LIBOR (London Interbank Offered Rate) forms the basis of a large share of loan agreements for shipping companies and vessel mortgages.
Japan’s Astomos Energy Corporation aims to explore the development of LPG bunkering in line with the IMO’s mandate for marine fuels by 2020.
US-China trade tensions will have a limited effect on the dry bulk market, predicts Pacific Basin CEO Mats Berglund, who expects improving fundamentals to outweigh any downside.
China Development Bank Financial Leasing has purchased two bulkers from now-defunct Sainty Marine Corporation for time charter to BG Shipping.
AFC Korea, a unit of Chinese private equity fund has acquired a controlling stake in cash-strapped STX Corporation, the first acquisition of domestic trading company by Chinese capital.
Concerns over a trade war have spooked the dry cargo markets, sparking a drop last week in the main dry bulk indices after China threatened to extend tariffs of a raft of US imports, including agricultural products such as soyabeans.
Mining is the cornerstone of the Chilean economy and the South American country is the leading player in the regional dry bulk markets.