Dry bulk shipping faces more earnings pain as a slowdown in commodities demand and a glut of ships are expected to pile on the pressure well into 2016, ship industry players said on Wednesday.
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on weak demand for capesize vessels.
The overall index,
Dry Bulk shipping company Seanergy Maritime Holdings Corp. announced today the delivery of a 56,819 dwt Supramax dry bulk vessel, renamed M/V Gladiatorship.
Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay.
Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.
Rig rates have more
Italian oil company Eni has received permission from Norway's Petroleum Safety Authority to extend the use of a service rig on its troubled Arctic Goliat oil field offshore Norway until Nov.