China's coastal container fleet saw a solid growth in the first half. The average age of the overall coastal fleet is younger than the level seen in last year driven by the government's policy to encourage scrapping of younger vessels.
Monaco-based Scorpio Bulkers has sold a pair of Ultramax bulkers for USD19 million each and leased them back from the buyer through a five-year bareboat charter agreement.
The number of dry bulk carriers ordered up to the end of August has risen by 81% against the same period last year, with contracts for 132 vessels of 14 million deadweight tonnes (dwt) placed at shipyards.
Sinotrans Shipping grew its first half net profit by nearly 400% on the back of higher dry bulk freight rates, better daily TCE earnings, and high average revenue per teu in the container shipping sector.
Japan’s Mitsui & Co has booked a bulker duo from Imabari Shipbuilding.
The global insurance industry sees Africa as the next big growth market, but access barriers remain a challenge.
P&I Club Skuld has raised the issue of rising customs fines in certain African states by issuing new guidance to its members.
Fairplay asked a number of experts whether a synchronised recovery in dry bulk, containers, crude oil, and product tankers could act as a powerful inducement to order excess tonnage that could strengthen the inevitable weak cycle later on.
Formerly known as Mitsui Engineering & Shipbuilding, the shipbuilder rebranded earlier this year after a reorganisation that created a holding company for various business units.
Sincere Navigation is keen to expand its reach into the product tanker segment.