Bulk Vessel News

Explosive-laden Iranian boats appear to have attacked two fuel tankers in Iraqi waters, setting them ablaze and killing one crew member on Wednesday, after projectiles struck four vessels in Gulf waters, said port, maritime security and risk firms.The latest attacks on ships linked to the U.S. and Europe mark an escalation in the conflict between Iran and U.S.-Israeli forces, raising the number of ships struck in the region since fighting began to at least 16.Shipping in the Gulf and along the narrow Strait of Hormuz…

Costamare Bulkers has reported its unaudited financial results for the fourth quarter and year ended December 31, 2025, reflecting on the company’s performance during its second full quarter as an independent, publicly traded company.Costamare Bulkers had no operating activity during the year ended December 31, 2024 and remained a wholly-owned subsidiary of Costamare Inc., a New York Stock Exchange listed company, until May 6, 2025, when it became an independent, publicly traded company through a spin-off from Costamare.Costamare Bulkers had nominal operations from January 1…

Danish shipping company NORDEN has sold one MR tanker and one Capesize dry bulk vessel from its owned fleet, capitalizing on strong asset prices across the dry cargo and tanker markets.The company also said it had entered into two new multi-purpose (MPP) newbuilding lease agreements with purchase options, as part of its strategy to expand in the project cargo market. The vessels are scheduled for delivery in 2028.NORDEN said the MPP segment benefits from a favorable supply outlook…

"We estimate that the dry bulk supply/demand balance will strengthen slightly in 2025 and gradually weaken in 2026 and 2027. Cargo demand growth is slowing, as coal shipments decline and iron ore shipments stagnate,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Coal shipments are forecast to decline 4.9% between 2025 and 2027. Demand is falling as electricity generation from renewable sources continues to expand, particularly in China, Europe and India. Furthermore…

Marlink, a specialist in managed services for business-critical ICT solutions, has deployed its Sealink NextGen hybrid network and cyber security solutions across 50 vessels operated by Polish dry bulk carrier Polsteam.The upgrade forms part of Marlink’s ‘possibility platform’ and is designed to support Polsteam’s transition to digitalized shipping operations, enhancing operational safety and efficiency while improving crew connectivity.Under the agreement, Marlink will integrate low Earth orbit (LEO) Starlink internet with traditional VSAT services, managed through its XChange platform.

AD Ports Group announced the signing of a major dredging agreement between its Karachi Gateway Terminal and Van Oord, a Netherlands-based leader in dredging and marine contracting, to expand the flow of trade through the Group’s port terminals in Pakistan.Led by the Group’s international ports operating arm, Noatum Ports, the project will deepen berths and navigational channels at Karachi Gateway Terminal (KGTL), a container terminal, enabling the accommodation of vessels from 305 meters to 350 meters in length and 13 meters to 15.5 meters in draft.

“We forecast that bulker deliveries will gradually increase this year and in 2026, reaching 41.2m Deadweight Tonnes (DWT) and a six-year high. Bulker newbuilding contracting was strong in 2023 and 2024, and several of the ships ordered during this period are expected to be delivered during this and next year,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Of the 59.3 million DWT expected to be delivered until the end of 2026, the panamax segment accounts for 33.9% while supramax accounts for 28.3%.

Spanish wind propulsion system supplier bound4blue has installed ‘world’s largest’ suction sails onboard the juice carrier MV Atlantic Orchard, chartered by Louis Dreyfus Company (LDC) and owned by Wisby Tankers.The four bound4blue’s 26-meter high eSAILS were installed in under a day per unit, as planned. When sailing, the 2014-built vessel, which was originally a dry bulk vessel before undergoing a conversion in 2020, will now enjoy simplified FuelEU Maritime compliance, taking advantage of the Wind Reward Factor…

“During the first two months of 2025, bulker newbuilding contracting dropped 92% y/y to the lowest level in at least 30 years. While contracting in January was low, no new ships were ordered in February. Weak freight rates, high newbuilding prices, long lead times and uncertainty are likely discouraging contracting,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Dry bulk contracting has been slowing since the second half of 2024. During this period, second hand prices for five-year-old ships fell by 12%, impacted by weakening freight rates, whereas newbuilding prices only dropped 1%.

The Baltic Sea region is on high alert after a string of power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022, and the NATO military alliance has boosted its presence with frigates, aircraft and naval drones.Several investigations are under way but no suspects have been brought to trial.FEBRUARY 2025: FINLAND-GERMANY TELECOM CABLESwedish and Finnish police said on February 21 they were investigating a suspected case of sabotage of an undersea telecoms cable in the Baltic Sea…

Costamare has reported a net income of $290.7 million as part of its unaudited financial results for the fourth quarter and year ended December 31, 2024, also noting its plans to renew its owned fleet.Gregory Zikos, Chief Financial Officer of Costamare, said: “In the container ship sector the Red Sea crisis led to diversions via the much longer Cape of Good Hope route. These diversions, together with strong cargo demand, absorbed the incremental new building capacity. The commercially idle fleet remained low during 2024 and at the start of 2025.

Dry bulk shipowner Diana Shipping announced it has entered into a time charter contract with Stone Shipping Ltd, for one of its Ultramax dry bulk vessels, DSI Polaris.The gross charter rate is US$15,400 per day, minus a 5% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum August 15, 2025. The charter commenced retroactively as of July 20, 2024.The Marshall Islands registered DSI Polaris, a 60,404 dwt Ultramax dry bulk vessel built in 2018…

Annual casualty figures from INTERCARGO, the International Association of Dry Cargo Shipowners, highlight continuing improvement in the safety performance of the sector.The Association’s Bulk Carrier Casualty Report records the yearly loss of vessels and lives across the dry bulk sector, with the intention of monitoring the impact of safety measures in the sector across the globe.The bulk carrier fleet has grown significantly in recent years to cater for the world’s growing economy.

Three new berths will start operations at Singapore Tuas Port later this year to tackle extended waiting times for ships after Red Sea shipping tensions boosted vessel arrivals, said Singapore's Maritime and Port Authority (MPA).The diversion of vessels around the Cape of Good Hope has disrupted arrival schedules at major ports globally and has caused a "vessels bunching" effect for container vessels calling at Singapore this year, MPA said in a statement late Thursday.The new berths will bring the total number of operating berths to 11 at Tuas Port and will help handle the higher container ve

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…

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…

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…

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…

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…

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…

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…

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.

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…