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Bulk Vessel News

13 Feb 2024

Dry Bulk Vessel Rates on the Rise

© cloudvisual / Adobe Stock

The Baltic Exchange's dry bulk sea freight index rose for a third straight session on Tuesday to hit a one-month peak, as rates climbed across larger vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 13 points, or 0.8%, at 1,585 points, its highest since Jan. 10.The capesize index also scaled a one-month high. It added 23 points, or 0.9%, at 2,476 points.Average daily earnings for capesize vessels, which typically transport 150…

24 Jan 2024

Ukraine's Black Sea Grain Export Success Tested by Red Sea Crisis

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Ukraine has managed to boost its Black Sea grain exports to a level not seen since before Russia's invasion, although the Red Sea shipping crisis poses a new challenge to its crucial agricultural trade.Kyiv's success in replacing a UN-backed Black Sea export deal with its own shipping scheme has brought relief for Ukrainian farmers and importing countries while representing a naval breakthrough for Ukraine's military as a land counteroffensive has stalled.The export turnaround…

09 Jan 2024

Diana Shipping Announces Continuation of Time Charter for Amphitrite

Source: Diana Shipping

Diana Shipping, a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Cobelfret S.A., Luxembourg, for one of its Post-Panamax dry bulk vessels, the Amphitrite.The gross charter rate is $12,250 per day for the first 30 days of the charter period and $15,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties…

30 Nov 2023

Vale’s First Bulk Carrier Biofuel Trial Commences

Source: Oldendorff Carriers

Vale, working in partnership with Oldendorff Carriers, has just commenced its first biofuel voyage on a bulk vessel.The trial is taking place on an Oldendorff vessel performing a laden Vale voyage from Brazil to Asia, carrying a full cargo of iron ore.The Hinrich Oldendorff (209,113 deadweight built 2016) loaded the biofuel in Singapore on October 16 on the ballast voyage to Brazil. The vessel then loaded Vale’s iron ore on November 28 at Guaiba Island Terminal and will consume…

29 Nov 2023

Diana Shipping Announces Time Charter with K Line

Source: Diana Shipping

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Kawasaki Kisen Kaisha (K Line) for one of its Capesize dry bulk vessels, the New Orleans.The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period until minimum August 15, 2025 up to maximum October 31, 2025. The charter is expected to commence on December 7, 2023.The New Orleans is a 180,960dwt Capesize…

20 Nov 2023

Diana Lines Up Time Charter with Bunge

© Gudellaphoto / Adobe Stock

Dry bulk shipowner Diana Shipping on Monday announced that it has lined up a time charter contract with agribusiness Bunge for one of its Ultramax dry bulk vessels, DSI Andromed—a 60,309 dwt Ultramax dry bulk vessel built in Japan in 2016.The charter, which Diana entered through a separate wholly-owned subsidiary, is expected to commence on November 24, 2023.The gross charter rate is $13,500 per day, minus a 5% commission paid to third parties, for a period until minimum February 20…

05 Jul 2023

Costamare Names Peter Lund Chief Commercial Officer

Shipowner Costamare has appointed Peter Lund as Chief Commercial Officer. He is expected to take up his position with Costamare in October 2023.Lund is currently Vice President, Head of Chartering of A.P. Moller-Maersk in Copenhagen, and has worked for a total of 24 years in the A.P. Moller group of companies in different geographic locations.Konstantinos Konstantakopoulos, Chairman and Chief Executive Officer of Costamare, said, “We are very pleased to welcome back Mr. Lund as the new Chief Commercial Officer of our company. His broad international shipping background and detailed knowledge of several of our target segments will be…

30 Jun 2023

United Maritime Sells Its Last Tanker, Buys a Bulk Carrier

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Greek shipping company United Maritime Corporation announced it has entered into an agreement with an unaffiliated third party for the sale of its remaining LR2 tanker vessel, the 2008-built Epanastasea. The vessel is scheduled to be delivered to its new owner by mid-August 2023. The vessel’s gross sale price is $37.5 million, and the transaction is subject to customary closing procedures.In addition, the company said it has entered into an agreement to acquire a Panamax dry bulk vessel built in 2011 in Japan, with a cargo carrying capacity of 76,361 dwt and will be renamed Exelixsea.

08 Jun 2023

Viridis Bulk Carriers Gets DNV AiP for Ammonia-Fueled Short Sea Bulk Carrier Design

©Viridis Bulk Carriers

Viridis Bulk Carriers has received Approval in Principle (AiP) from the classification society DNV for its ammonia fuelled short sea bulk carrier design. The certificate was presented during the Nor-Shipping trade fair at the DNV stand.An Approval in Principle (AiP) is an independent assessment of a concept within an agreed framework, confirming that the design is feasible, and no significant obstacles exist to prevent the concept from being realized.As the maritime industry is looking to bend the carbon curve towards zero…

24 Apr 2023

Berge Bulk, ABS Examine Methanol Refit for Bulk Carrier

(Seated left to right) Panos Koutsourakis, ABS Vice President of Global Sustainability; and James Marshall, Berge Bulk CEO. (Standing left to right) Arnab Ghosh, ABS Director, Business Development; Sylvain Julien, Berge Bulk Head of Innovation and Newbuilding; Paolo Tonon, Berge Bulk Technical Director. Image courtesy ABS

A Joint Development Project (JDP) to evaluate the feasibility of converting a bulk vessel to methanol fuel propulsion was signed by Berge Bulk CEO James Marshall and ABS Vice President of Global Sustainability Panos Koutsourakis.Per the agreement, the team will examine the possibility of retrofitting the 300-m, 210,000-dwt heavy fuel oil propelled bulk carrier Berge Mauna Kea to operate on methanol fuel. The six-month study is already underway.“Retrofitting alternative fuel capability to the global fleet is going to be critical if we are to achieve our sustainability goals.

02 Mar 2023

Dry Bulk Vessel Rates Rise on Stronger Vessel Demand

© EdVal / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to its highest level since early January on Thursday, supported by stronger rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 46 points, or about 4.2%, to 1,145, its highest since Jan.

01 Mar 2023

Cargill Testing New Sail Technology for Cargo Ships to Cut Emissions

(Image: BAR Technologies)

Cargill, one of the world's biggest ship charterers, is stepping up a push to resurrect wind power for cargo ships as the agricultural commodities group moves to cut emissions from its chartered fleet, a top executive said.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions, yet environmental campaigners say regulatory efforts by the sector to cut emissions are still slow.Cargill will test a dry bulk vessel with two wind sails carrying cargo onboard later this year…

23 Feb 2023

Dry Bulk Vessel Rates Rebound

© Lukasz Z / Adobe Stock

The Baltic Exchange's main sea freight index posted its second-biggest jump ever on Thursday, as rates for all vessel segments rebounded from their multi-year lows, led by capesizes.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 142 points, or about 21.1%, at 816, an over one-month high.The index, extending gains to a fifth session, recorded its biggest jump since mid-June 2020, according to Refinitiv data going back till 1985.The capesize index gained 183 points…

09 Feb 2023

Australian Coal Arrives in China for First Time in More Than Two Years

At least two vessels carrying Australian coal have arrived in China for the first time since an unofficial ban on imports was introduced more than two years ago, and several more are on the way, shiptracking data showed. The cargoes are being closely monitored by coal traders as they are keen to see how smooth Chinese customs procedures will be.China last month, in a partial easing of the import ban, granted permission to just four central-government owned firms to bring in Australian coal. Tiger East, a dry bulk vessel loading some 73,300 tonnes of Australian thermal coal from Queensland, is discharging at the southern Chinese city of Taishan…

01 Feb 2023

Diana Shipping Takes Delivery of Ultramax Dry Bulker, Secures Charter

Bulk carrier firm Diana Shipping said Wednesday it had has taken delivery of the 2016-built DSI Aquarius ultramax dry bulk vessel of 60,309 dwt. The ship, which used to be called STH Kure, is one of nine new Ultramax dry bulk vessels that the company had agreed to buy in August 2022. Diana Shipping also said that it had entered into a time charter contract for the vessel with Engelhart CTP Freight (Switzerland) SA, at a gross charter rate of US$14,200 per day, minus a 5% commission paid to third parties, for a period until minimum January 10, 2024 up to maximum March 25, 2024. The charter is expected to start on February 1, 2023. The employment of “DSI Aquarius” is anticipated to generate approximately US$4.81 million in gross revenue for the minimum scheduled period of the time charter…

31 Jan 2023

First Australian Coal Heads to China After End of Ban

China is set to receive at least two cargoes of Australian coal in early February, according to traders and shiptracking data, the first since an unofficial ban on imports in place since 2020 was lifted earlier this month.Coal traders will be paying attention to how easily the shipments pass customs for signs that the informal ban is truly over and in the hopes of sending more Australian coal to China.Australian thermal coal for power generation and metallurgical coal for steelmaking are favoured by Chinese consumers for their high-quality. China's coal demand is forecast to rise in the upcoming months amid an expected economic rebound after Beijing rolled back its draconian zero-COVID strategy.

17 Jan 2023

Diana Shipping Announces New Time Charters

Dry bulk shipowner Diana Shipping on Tuesday announced new charter contracts for two of its vessels, the Polymnia and Los Angeles.Diana said it has extended the time charter contract with CLdN Cobelfret SA for the Polymnia, a  98,704 dwt Post-Panamax dry bulk vessel built in 2012.The gross charter rate is $10,000 per day for the first 30 days of the charter period and $15,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties, for a period until minimum April 1, 2024 up to maximum May 31, 2024. The new charter period commenced on January 14, 2023.The company also announced that it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha for the Los Angeles…

12 Dec 2022

Diana Shipping Extends Time Charter with SwissMarine

Dry bulk shipowner Diana Shipping on Monday announced it has extended the time charter contract with SwissMarine Pte Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the Alcmene.The gross charter rate is $13,000 per day, minus a 5% commission paid to third parties, for a period until minimum January 10, 2024 up to maximum March 25, 2024. The new charter period is expected to commence on December 27, 2022.The Alcmene is a 93,193 dwt Post-Panamax dry bulk vessel built in 2010.The employment is anticipated to generate approximately $4.86 million of gross revenue for the minimum scheduled period of the time charter, Diana Shipping said.

18 Nov 2022

Diana Shipping Announces Two Time Charter Deals

Shipowner Diana Shipping on Friday announced it has entered into a pair of time charter contracts for two of its owned bulk carrier vesselsWestern Bulk Carriers AS will charter the DSI Aquila $13,300 per day, minus a 5% commission paid to third parties, for a period until minimum September 15, 2023 up to maximum November 15, 2023. The charter is expected to commence on November 22, 2022. The 60,309 dwt Ultramax dry bulk vessel was built in 2015.In addition, EGPN Bulk Carrier Co., Limited, will charter the Houston for $13,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 1, 2024 up to maximum August 31, 2024. The charter is expected to commence on November 21, 2022.

14 Nov 2022

Diana Takes Secondhand Ultramax, Charters Out Another

Diana Shipping on Monday announced it has taken delivery of the DSI Andromeda (formerly STH Tokyo), a 2016-built Ultramax dry bulk vessel. The 60,309 dwt vessel is one of nine modern Ultramax dry bulk vessels that the company entered into an agreement to purchase in August 2022.The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ASL Bulk Marine Limited, for one of its Ultramax dry bulk vessels, the DSI Polaris. The gross charter rate is $13,100 per day, minus a 5% commission paid to third parties, for a period of minimum 18 months to maximum 20 months. The charter commenced on November 12, 2022.The DSI Polaris is a 60,404 dwt Ultramax dry bulk vessel built in 2018.

10 Nov 2022

Diana Shipping Takes Delivery of Secondhand Ultramax Bulker

Dry bulk shipowner Diana Shipping Inc. announced on Thursday that it has taken delivery of one of nine secondhand Ultramax bulk carriers that agreed to purchase in August 2022.The vessel, DSI Polaris—formerly named STH Oslo—is a 60,404 dwtUltramax dry bulk vessel built in 2018.Including the newly delivered DSI Polaris, Diana Shipping Inc.’s fleet currently consists of 38 dry bulk vessels, including four Newcastlemax, 11 Capesize, five Post-Panamax, six Kamsarmax, eight Panamax and four Ultramax.The company expects to take delivery of five Ultramax dry bulk vessels in the fourth quarter of 2022.

07 Nov 2022

Diana Shipping Secures Three Time Charters

Dry bulk shipowner Diana Shipping Inc. on Monday announced it has entered into separate time charter contracts for three of its vessels.The company said it will charter its vessel Amphitrite to Cobelfret S.A. for $14,250 per day, minus a 5% commission paid to third parties, for a period until minimum December 1, 2023 up to maximum February 15, 2024. The charter is expected to commence on November 10, 2022. The Amphitrite is a 98,697 dwt Post-Panamax dry bulk vessel built in 2012.Diana will also charter its vessel Crystalia to Reachy Shipping (SGP) Pte. Ltd. for $12,500 per day, minus a 5% commission paid to third parties, for a period until minimum September 1, 2023 up to maximum October 15, 2023. The charter is expected to commence on November 8, 2022.

03 Nov 2022

Diana Shipping Expands Bulker Fleet

Greece-based dry-bulk shipping firm Diana Shipping has taken delivery of the m/v DSI Phoenix (formerly “STH Chiba”), a 2017-built Ultramax dry bulk vessel of 60,456 dwt. The vessel is one of nine modern Ultramax dry bulk vessels that the Company entered into an agreement to purchase in August 2022.Including the newly delivered m/v DSI Phoenix, Diana Shipping Inc.’s fleet now consists of 37 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 3 Ultramax).

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