Recent updates

Read the latest news from Germany, Europe and the world. Ernst Russ brings the news of the day & top breaking headlines on shipping, real estate and economy.

Shipping Industry Urges G20 to Keep Freight Flowing as Virus Hits Supply Chains

(gcaptain) Ships and their crews must be able to trade freely with minimal port restrictions to ensure supply lines don’t freeze up while the coronavirus shuts down much of the globe, shipping and port officials said on Tuesday.

China’s Port Jam Eases, but Refrigerated Container Rates Soar

(gcaptain) By Muyu Xu and Dominique Patton BEIJING, March 13 (Reuters) – Severe congestion at Chinese ports is easing, say officials and industry participants, although a logjam of refrigerated containers has disrupted supplies of fresh and frozen food and pushed up freight rates outside China.

Busiest Port in U.S. Sees 23% Drop in Cargo Volumes in February

(gcaptain)  U.S. West Coast ports were already facing headwinds this year from the protracted U.S.-China Trade War.

International container volume, shipping rates highlight weakness in imports from China

(hellenicshippingnews) Following one of the worst weeks in the stock market, questions about the impact of the coronavirus on supply chains abound.

Fed cuts interest rate half a percentage point, largest emergency cut since the financial crisis

(washingtonpost) President Trump earlier called for a “big” interest rate cut by the Federal Reserve and a payroll tax cut for consumers.

China’s commodity imports hold up better than the PMIs, for now

(hellenicshippingnews) There’s no way to sugar-coat the worst-ever reading of China’s manufacturing indexes, which were pummelled as the economy was largely shut down in February as Beijing battled to contain the coronavirus epidemic.

U.S. Container Ports Seeing Impact of China's Coronavirus Slowdown

(maritime-executive) America's seaports are now beginning to feel the effects of the sailing cancellations that ocean carriers implemented at Chinese ports over the span of the past month.

2020 Ocean Super Year – What Does It Mean for Business

(allaboutshipping) A series of major ocean events and developments will take place this year, with important implications and opportunities for ocean industries.

Shipping Industry Faces $370 Million Hit from Panama Canal ‘Freshwater’ Charge

(gcaptain) A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up to $370 million a year, marking another blow for maritime companies already hit by fallout from the coronavirus.

Seaborne cargo throughput increase in Port of Hamburg – and double-digit growth in seaport-hinterland rail transport

(Port of Hamburg) In 2019 seaborne cargo throughput rose to 136.6 million tons, or by 1.1 percent. Container handling at 9.3 million TEU advanced substantially, by 6.1 percent.

Ships Are Skipping China and It’s Causing Turmoil for Trade

February 2020 will come to be remembered as a period of historic disruption to physical supply chains the world over, as the coronavirus wrecks trade.

Coronavirus to Hit U.S. Retail Imports in February

(gcaptain) Imports at the United States’ major retail container ports are expected to see a sharper-than-usual decline this month as the coronavirus causes factory shutdowns in China, according to a new report by the National Retail Federation and Hackett Associates.

German exports in 2019 increased

(destatis) In 2019, German exports and imports exceeded the former record highs of 2018. However, foreign trade growth slowed in comparison with previous years: in 2019, Germany exported goods to the value of 1,327.6 billion euros and imported goods to the value of 1,104.1 billion euros. The Federal Statistical Office reports that exports were up 0.8% from 2018. Imports rose by 1.4%. In 2018, exports increased by 3.0% and imports by 5.6% compared with the previous year. In 2017, exports were 6.2% and imports 8.0% higher than a year earlier.

Scrubber Demand Declined in the Fourth Quarter of 2019: Wärtsilä

(shipandbunker) Demand for Finnish engineering company Wärtsilä's scrubbers predictably declined in the fourth quarter of last year from "exceptionally high" levels a year earlier, according to its CEO.

New Study Casts Shadow on LNG Fuel’s Climate Footprint

(gCaptain) One of the shipping industry’s great hopes for improving its environmental performance — engines powered by liquefied natural gas — won’t offer the benefits that many vessel owners are hoping for.

China Tax Changes Unlikely to Boost Marine Fuel Supply Until Q2

(gcaptain) Chinese oil refiners are unlikely to boost their output of cleaner marine fuels until at least the second quarter of 2020 because they will need to upgrade their facilities, even after the government granted tax waivers to boost output.

IMO: Smooth Transition into Sulfur Cap Regulations

(maritime-executive) The IMO says information from various sources has indicated a relatively smooth transition to the 0.5 percent sulfur cap for bunker fuel.

Container Shipping market outlook remains soft

(porttechnology) Despite the boost of the Phase One trade agreement between the US and China, the outlook for the container shipping market remains soft, this according to Drewry’s Container Forecast report.

Shanghai Keeps its Title as World's Busiest Container Port

(maritime-executive) Shanghai International Port (Group) has announced that it posted record high container traffic in 2019 with 42 million TEU in throughput. This amount is about four percent higher than last year, and it is enough to maintain Shanghai's status as the world's busiest container port for the ninth year in a row.

US to invest heavily in marine highways

(porttechnology) The US Department of Transportation’s Maritime Administration (MARAD) has will invest $7.5 million in nine Marine Highway projects as it looks to make the movement of cargo and people at sea and on land more efficient.

Dry Bulk Market: Where to Next for South Africa’s Coal Exports?

(hellenicshippingnews) One of the major coal exporters, South Africa is now having to rely more on markets like the ones in the Indian Subcontinent, especially India, in a bid to find buyers for its product. South Africa hasn’t managed to penetrate Far East Asian markets, but it’s faring better in the Subcontinent, where demand is booming.

Global Shippers Forum Signals Pushback on IMO2020 Surcharges

(maritime-executive) Shippers are signaling that there will be tough negotiations ahead over who will pay for new IMO 2020-compliant low sulfur fuel oil (LSFO). At current pricing, compliant fuel costs roughly twice as much as the heavy fuel oil that most ships could legally burn until last week.

Dry Bulk Market: Capesize Market Starts on the Wrong Foot

(hellenicshippingnews) Capesize: The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels.

2019 Leaves Shipping With Bittersweet Taste

(hellenicshippingnews) When it comes to assessing 2019 from a shipping market’s point of view, it appears that the year that we just left behind, was “the year that could have been, but never really materialized as such”.

China will push more lending to manufacturing sector next year

(hellenicshippingnews) China will actively help firms in the traditional manufacturing sector to get out of liquidity trouble next year, the banking and insurance regulator said on Friday, after recent liquidity woes and bond defaults by private firms.

Shipowners Share Scrubber Installation Experience

(maritime-executive) Members of the Clean Shipping Alliance (CSA) 2020 are advising those shipowners looking to install marine exhaust gas cleaning systems (EGCS or scrubbers) to ensure that manufacturers, shipyards and installers are using quality, high-end materials.

Developments in Ship Recycling in 2019

(maritime-executive) "For the sixth year running I have been asked by The Maritime Executive to provide a review of the year’s notable developments on ship recycling and my expectations for the coming year."

Scrubber Queue Grows Ahead of IMO 2020

Another containership fitted with an exhaust gas cleaning system (scrubber) is added to the global fleet every 10 hours, according to Alphaliner data.

Port Tracker report pinpoints U.S.-China trade war as focal point of import volumes

(logisticsmgmt) U.S. reports covered in the report handled 1.95 million Twenty-Foot Equivalent Units (TEU) in October, the most recent month for which data is available, which is up 0.6% over September’s 1.97 million TEU and down 7.5% annually compared to the 2 million TEU handled in October 2018, which stands as the all-time monthly record.

German exports increased by 1.9%

(destatis) Germany exported goods to the value of 119.5 billion euros and imported goods to the value of 98.0 billion euros in October 2019. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 1.9% and imports decreased by 0.6% in October 2019 year on year. 

Drewry publishes first low-sulphur BAF reference price

(hellenicshippingnews) As part of a series of initiatives aimed at bringing greater transparency to fuel costs resulting from the new IMO 2020 low-sulphur regulation, Drewry is pleased to announce the publication of its first low-sulphur reference bunker index tracker.

China Establishes World’s Largest Shipbuilding Group

(gCaptain) China on Tuesday formally established China Shipbuilding Group, which the country’s government-run broadcaster described as the world’s largest shipbuilder.

Dry Bulk: Capesize Market Ends Week With Slight Improvement

(hellenicshippingnews) After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes.

Port of Hamburg Reports Strong Growth So Far in 2019

(gCaptain) The Port of Hamburg saw strong growth in the first nine months of 2019, with seaborne cargo throughput rising by 3.2 percent to 104 million tons. At that rate, Hamburg exceeds the growth rate of competing ports in northern Europe, which on average have reported just one percent growth, according to the Port of Hamburg. 

The great ‘crude’ game is on

(hellenicshippingnews) RIYADH and Tehran are engaged in an intense ‘crude’ battle, making in the process interesting moves to checkmate the other on the geopolitical chessboard.

Greek Owners: South Korean Shipyards Dominating Orders Attracting $14 Billion of Invested Capital

(hellenicshippingnews) South Korean shipyards remain the preferred option among Greek ship owners, especially when it comes to ordering their latest high-tech and niche-busting LNG carriers.

China Plans $1B Port Investment in Brazil

(maritime-executive) During a visit by Chinese President Xi Jinping to Brasilia this week, China is expected to announce a $1 billion investment in the port of Sao Luis by state-owned China Communications Construction Company (CCCC). President Xi is in Brazil for the annual BRICS summit, a gathering of the leaders of Brazil, Russia, India, China and South Africa.

Volatility Reigns in the S&P Market, as Newbuilding Orders Dry Up

(hellenicshippingnews) The second-hand market for ships is quite volatile at the moment, as many owners are actively looking for investment opportunities, in a time when the majority of them refrain from newbuilding orders.

ITF Calls for Action on Gulf of Guinea Piracy

(maritime-executive) Following back-to-back attacks on two vessels in the Gulf of Guinea last week, the International Transport Worker’ Federation has called for urgent global and regional cooperation to fight piracy off West Africa.

Manufacturing output shows modest progress in October, reports ISM

(logisticsmgmt) The report’s key metric, the PMI, eked out a 0.5% gain to 48.3 (a reading of 50 or higher indicates growth), following declines of 1.3% and 2.1%, respectively, in October and September. The October PMI marks the third consecutive month the PMI has come in below 50, while the overall economy grew in October for the 126th consecutive month.

Iron ore prices are coming back down to earth — but how far will they fall exactly?

(hellenicshippingnews) Booming iron ore prices have been one of the main storylines in commodity markets this year.

Crude Exporters Brace for Sustained High Shipping Costs

(oilandgas360) The U.S. blacklisting of the Cosco tankers set tanker freight rates on fire, but maritime fundamentals will keep prices high.

In Shipping Markets, Rollercoaster Rides Are the Main Theme

(Hellenic Shipping News) Turbulence, volatility and extreme highs and lows are the “name of the game” these days, when it comes to the shipping markets.

Panamaxes and Capesizes Lead as Australian Coal Exports To China and South Korea On the Rise

(Hellenic Shipping News) Australian coal exports are on the rise this year, with China and South Korea proving to be the preferred markets so far.

Update: Can the U.S. Fix Its Failing Infrastructure?

Overall infrastructure spending has fallen, according to the Congressional Budget Office, but the need is greater than ever.

US-China tariff delay does little to stabilise freight demand

(lloydslist) The decision to postpone the October 18 scheduled import duty rise on $250bn worth of goods has failed to lift the uncertainty in a ‘mercurial trade environment’ where importers have to assume the worst to avoid rising Costs.

EIA: U.S. Offshore Oil Production On Track for New Records

(maritime-executive) Crude oil production in the U.S Gulf of Mexico hit 1.8 million bpd in 2018, setting a new annual record. The U.S. Energy Information Administration (EIA) predicts that the industry will set new production records in 2019, despite the temporary shut-ins related to Hurricane Barry in July.

September freight shipments and expenditures see annual declines in September, reports Cass

(logisticsmgmt) September shipments, at 1.199, were up 0.8% compared to August and down 3.4% annually, and expenditures were off 4.5% annually and up 0.5% compared to August.

Ballast Water Management Convention Amendments Enter Into Force

(maritime-executive) The Ballast Water Management Convention amendments formalizing the implementation schedule for the D-2 standard entered into force on October 13.

Foreign trade with the United Kingdom losing importance

(destatis) The downward trend of goods trade with the United Kingdom observed since the Brexit referendum is persisting. As reported by the Federal Statistical Office (Destatis), the United Kingdom ranked seventh among Germany's most important trading partners in the period from January to July 2019, with a foreign trade turnover (exports and imports) of 68.5 billion euros.

A trade-war punch to chemical shipping

(hellenicshippingnews) The escalating US-China trade war, if not settled in October as per the planned meeting between authorities of the two countries, will impact not only the Transpacific trade route, but also other major trade routes as China is the main demand driver.

World fleet 60% larger than 2008, but emitting 18% less carbon

(splash247) Despite the global merchant fleet being 60% bigger than in 2008, its carbon footprint has dropped by 18% over the last 11 years, according to data from Clarkson Research Services.

Coal prices slide as stock levels swell

(hellenicshippingnews) European coal prices face further pressure this week amid swelling stock levels, softer gas prices and muted generation demand, participants said.

Container Carriers Still Concerned About Low Sulfur Fuel Availability

(hellenicshippingnews) A senior shipping executive said there is still concern in the container shipping industry about whether there will be sufficient low sulfur fuel available for shipping lines to meet the International Maritime Organization requirement.

Volume of goods loaded and unloaded in German sea ports down 0.7% in 2018

(Destatis) Maritime transport accounts for the majority of global flows of goods. The volume of goods transported by sea and handled in German sea ports in 2018 was roughly 58 times the volume of air freight handled at the airports.

Global Container Fleet Tops 23 Million TEU as New Megaships Hit the Water

(gcaptain) A wave of ULCV deliveries this year has pushed the total containership fleet capacity over the 23m teu mark, with the last million slots added in a breath–taking 14 months, according to an Alphaliner report.

Oil Trims Losses on Conflicting Signals About Saudi Recovery

(gcaptain) By David Marino and Sheela Tobben (Bloomberg) — Oil pared an earlier decline on contradicting reports about when Saudi Arabia will restore production lost in unprecedented attacks.

Georgia Ports Chiefs Detail Terminal Expansion

(porttechnology) The Georgia Ports Authority (GPA) has said expansions and new business accounted for nearly US$5 billion in investment and 12,000 new jobs in the fiscal year 2019, the centerpiece of which are plans to double annual capacity at the Garden City Terminal to 11 million TEU.

Euphoria in dry bulk spot rates

(hellenicshippingnews) Surging iron ore exports from Brazil and contracting vessel supply in the region will keep Capesize/VLOC vessels in high demand in the Atlantic, supporting the continued surge in freight rates.

Maritime Worth $57 Billion to UK

(porttechnology) A new report commissioned by Maritime UK and the Centre for Economics and Business Research (CEBR), shows that the maritime sector is worth almost US$57 billion to the UK economy, making it larger than many other comparable transportation industries, including rail and aerospace.

Is The Dry Bulk Market Rally Coming to an End?

(hellenicshippingnews) The tide could be about to shift when it comes to the long-term sustainability of the dry bulk market’s rally, which has been ongoing over the course of the past few months.

IMO 2020 one of the three pillars to determine oil price

(safety4sea) The effect of new IMO 2020 regulations will be one of the key three essential factors expected to determine the direction of the oil price next year, according to research firm Rystad Energy.

Trade Coalition Seeks To Galvanise Free Ports

(hellenicshippingnews) A new trade campaign coalition has published a report calling on the Government to better assess free port policy measures and grant special economic status to airports and seaports to stimulate international investment, reshore manufacturing and lower prices for consumers in a post-Brexit Britain.

Exports in July 2019: +3.8% on July 2018

(destatis) Germany exported goods to the value of 115.2 bio. EUR and imported goods to the value of 93.7 bio. EUR in July 2019. Based on provisional data, the Federal Statistical Office reports that German exports increased by 3.8% and imports decreased by 0.9% in July 2019 year on year. 

Stable but substandard growth

(hellenicshippingnews) World growth might be stable, but the quality of that growth has declined, according to the Governor of the Bank of England, Mark Carney.

India and Russia Sign Energy Deals

India and Russia have agreed on a five-year roadmap to step up cooperation in the hydrocarbon sector, including investment, not only in exploration and production in each other's oil and gas fields but also in downstream projects.

Hurricane Dorian shuts US east coast ports

(safetyatsea) As the category 5-graded Hurricane Dorian slowly inches along its path of destruction, meteorologists from the United States National Hurricane Center have projected the storm will take a right turn from the Bahamas and travel northward along the southeast coast of the US. Ships intending to call at Atlantic seaports on the east coast face great disruption with inbound traffic prohibited at many Florida ports.

The future-proof ship

(hellenicshippingnews) Since the introduction of the first diesel-powered ships in the early 20th century, technology developments in shipping have been steady and incremental. This continuity will end as the industry approaches the year 2050. Decarbonization requirements and the opportunities offered by digitalization will bring about major change. The challenge for a ship built today is that this change will take place within its lifespan. Failure to account for foreseeable regulatory and technology developments may render a ship built today uncompetitive at best; in the worst case it may end up being prohibited from operating altogether. The technology choices made when building a new ship will therefore decide whether it will be future-proof.

Dry Bulk Market Not “Out Of the Woods” Yet

(hellenicshippingnews) Despite the positive sentiment coming back in the dry bulk market, as shown by the latest rise in the Baltic Dry Index, the industry’s benchmark, shipbrokers and analysts remain cautious. In its latest weekly report, shipbroker Allied Shipbroking said that “being almost at the end of the summer period, has the dry bulk sector recovery shown us all its glitter so far?

EIA: Bab el-Mandeb Saw 6.2 Mn b/d of Crude Oil Shipments in 2018

(worldmaritimenews) Around 6.2 million barrels per day (b/d) of crude oil, condensate, and refined petroleum products flowed through the Bab el-Mandeb Strait in 2018, according to data provided by the U.S. Energy Information Administration (EIA).

Heavy Oil Premiums Shrink as Asian Fuel Oil Profits Collapse

(hellenicshippingnews) A plunge in fuel oil margins driven by impending environmental rules for shipping is beginning to take its toll on heavier grades of crude.

Pollution police: How are ship emissions monitored?

(hellenicshippingnews) Carbon dioxide, nitrogen oxides, particulate matter, oil, ballast water, bilge water, sewage.

Macron Asks Shippers to Shun Arctic Route to Protect Environment

(hellenicshippingnews) French President Emmanuel Macron is calling on container lines to avoid using a new Arctic shipping route to protect the environment.

Cap on sulphur emissions to drive global demand for LNG as shipping fuel

(worldoil) Demand for LNG as a conventional source of energy in the maritime industry will continue to grow because of its technological advantages in meeting the standards and requirements in limiting the emissions of sulphur, a greenhouse gas. According to marine fuel expert Sergey Ivanov, the global sulphur cap of 0.5%, which is set to be implemented by the International Maritime Organization (IMO) next year, could drive the global uptake on LNG as bunker fuel.

Proposed Ferry Could Save Scottish Whiskey Exports Post-Brexit

(gcaptain) A Scottish company and a Dutch port are discussing launching a new ferry line ahead of Britain’s exit from the European Union, potentially providing a swift alternative route for Scottish exports such as whisky if Brexit causes transport delays.

Chongqing Port to convert breakbulk terminal into grain terminal

(splash247) Chongqing Port has announced a plan to convert a breakbulk terminal in its Lanjiatuo port area into a grain terminal.

Dry Bulk Market: Capesize Rates Rise After Bottoming Out The Previous Week

(shippingtribune) The Capesize market was buoyant in both basins this week, posting gains across the board.

Exports Fall, Imports Flat as Trade War Hits Southern California Ports

(hellenicshippingnews) The U.S.-China trade war is pounding the San Pedro Bay ports. Import volumes were essentially flat year over year in July as exports declined 5.1%.

Capes surge as tonnage in Atlantic basin thins

(splash247) A sudden thinning of cape tonnage in the Atlantic basin as Brazilian miner Vale ramps iron ore exports saw the Baltic Dry Index leap yesterday, with analysts confident the cape sector could enjoy a very solid few weeks ahead.

Drewry: Modest Growth Expected for Global Container Port Demand

(worldmaritimenews) Global container port demand is heading toward a modest growth and numerous uncertainties, accompanied with muted capacity expansion plans.

Major US Port Authority Smashes Record

(porttechnology) The South Carolina Ports Authority (SCPA) has recorded its busiest July in Port history at container terminals and inland ports, as it began the new fiscal year strongly.

Containers Market to Grow by 6.5%

(marinelink) The shipping containers market estimated to grow with a CAGR of 6.5% during the forecast period from 2018 to 2026, said a report.

German exports in June 2019 decreased

(destatis) Germany exported goods to the value of 106.1 billion euros and imported goods to the value of 89.3 billion euros in June 2019. Based on provisional data, the Federal Statistical Office reports that German exports decreased by 8.0% and imports by 4.4% in June 2019 year on year. After calendar and seasonal adjustment, exports were down 0.1% on May 2019, while imports rose 0.5%.

U.S. Retail Imports Remain at Near-Record Levels

(maritime-executive) Imports at major retail container ports in the U.S. are expected to continue at near-record levels this month and the remainder of the year despite a new round of tariffs on goods from China, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.

North American Port Gets Major Investment

The Government of Canada has announced a USD $4.5 million investment for a project in the Sarnia-Lambton corridor and Port of Sarnia, which is aimed at expanding the country’s access to international markets.

Non-manufacturing slips in July but still growing, reports ISM

The index ISM uses to measure non-manufacturing growth—known as the NMI—fell 1.4% to 53.7 (a reading of 50 or higher indicates growth is occurring) in July. This reading represents the 114th consecutive month of NMI growth, with July’s NMI down 3.9% compared to the 12-month average of 57.6. July’s reading is the lowest over that span.

Handy Bulker Values to Rise Over 30% by End of 2020

The US China trade war is still on, but how negative its impact will be on global economic growth and shipping remains to be seen.

MARAD Designates New Marine Highway Projects

(gcaptain) The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced the designation of nine Marine Highway Projects and a Marine Highway Route, helping shift the transportation of cargo and people from the highways to the nation’s waterways.

Indian Stainless Flat Import Probe and Rationale Behind It

(hellenicshippingnews) This insight explores the reasons that led to the Indian government considering import restrictions and their possible implications.

Greek Ship Owners On the Market for Young Bulkers

(hellenicshippingnews) With the dry bulk market heating up, Greek ship owners are actively looking to acquire modern dry bulk tonnage.

North Sea Port to Get New RoRo Terminal

(destatis) Turkish logistics company Ekol Logistics and Belgian freight forwarder Transuniverse Forwarding have decided to construct a 40-hectare multimodal site at Kluizendok in Ghent, part of the Dutch-Belgian North Sea Port.

More freight transported across the oceans

(destatis) Increasing quantities of sea freight were registered by the German ports last year. Container and other cargo vessels carried roughly 300 million tonnes of goods via German sea ports in 2018. The Federal Statistical Office (Destatis) also reports that this was a year-on-year increase of 1.6%. Maritime transport is much more important for goods transport than, for example, air transport. In 2018, the quantity of goods carried by sea was approximately 61 times that of air transport (which was roughly 5 million tonnes).

Drewry: Fairly Modest Growth Expected in Asia-Med Trade

(worldmaritimenews) Asia to the Mediterranean trade appears to have bottomed out, but growth during the rest of the year is likely to be fairly modest, according to shipping consultancy Drewry.

UK Asks British Ships to Avoid Strait of Hormuz

(maritime-executive) The UK's foreign ministry has asked UK-flagged ships to stay away from the Strait of Hormuz, one of the busiest waterways in the world for petroleum shipping, after Iranian forces boarded and seized the British tanker Stena Impero on July 19.

Dry Bulk Market: Capesize Market Sizzling Hot

(hellenicshippingnews) Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow.

UNCTAD: China Ranked as Best Connected to Other Countries by Sea

(worldmaritimenews) China has retained its lead as the country best connected to others by sea, according to the liner shipping connectivity index (LSCI) from United Nations Conference on Trade and Development (UNCTAD).

Cape surge shows no sign of slowing

(splash247) Capesize bulkers are now trading for in excess of $31,000 a day, leading a surge across all dry bulk segments with the Baltic Dry Index closing yesterday at 2,064 points – a high not seen since the start of 2014.

Dry Bulk Carriers’ Newbuilding Orders Slowing Down

(hellenicshippingnews) Despite the latest surge in the dry bulk market, ship owners seem to prefer the short-term gains, opting for second hand tonnage, rather than investing in more newbuildings.

Piracy Incidents Down Off Nigeria

(maritime-executive) The number of hijackings and armed attacks on ships sailing off Nigeria has dropped according to new figures from the International Piracy Reporting Centre, IMB.

Baltic Index at 5-1/2 Year Peak as Capesize Demand Soars

(maritimeprofessional) The Baltic Exchange's main sea freight index hit a five-and-a-half-year high on Monday on the back of strong demand for capesize vessels shipping iron ore.