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Iron ore futures retreated further on Tuesday as the outcome of China’s key Politburo meeting and the strong global supply outlook both weighed. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.77% lower at 756 yuan ($104.14) a metric ton. The benchmark August iron ore on the Singapore ...
https://www.hellenicshippingnews.com/iron-ore-retreats-further-as-key-china-economic-meeting-strong-global-supply-weigh/Safe Bulkers, Inc. an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and six month periods ended June 30, 2024. The Board of Directors of the Company also declared a cash dividend of $0.05 per share of outstanding common stock. Management Commentary Dr. Loukas Barmparis, President of ...
https://www.hellenicshippingnews.com/safe-bulkers-inc-reports-second-quarter-2024-results-and-declares-dividend-on-common-stock/The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, slipped to its lowest level in three months on Tuesday, weighed down by lower rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 35 points, or 2%, to ...
https://www.hellenicshippingnews.com/baltic-index-drops-to-a-three-month-low-on-lower-vessel-rates/
https://www.hellenicshippingnews.com/baltic-index-drops-to-a-three-month-low-on-lower-vessel-rates/The capesize business is experiencing some of the greatest shifts in global trades in the 2020s among all shipping segments. As well as the growth of West Africa exports of bauxite – and soon to be iron ore – to China, cape owners are having to contend with the growth of Mongolian and Russian exports …
https://splash247.com/cape-owners-contend-with-soaring-mongolian-coal-shipments-by-rail-to-china/
https://splash247.com/cape-owners-contend-with-soaring-mongolian-coal-shipments-by-rail-to-china/Dubai-based jackup rig player Shelf Drilling has sold one of its units after the completion of its contract in West Africa. The Oslo-listed firm with a fleet of 36 jackups said in a filing the 1983-built and 2015-upgraded Baltic has gone to an undisclosed buyer for $60m. The rig, which has been under contract in …
https://splash247.com/shelf-drilling-offloads-jackup-rig-for-60m/
https://splash247.com/shelf-drilling-offloads-jackup-rig-for-60m/Taiwan’s Wisdom Marine has cashed in on one of its handysize bulk carriers as it makes room for fresh tonnage. The Taipei-based bulker giant, led by shipping magnate Lan Chun Sheng (James Lan), is offloading the 2015-built Bunun Glory in a deal with Turkish owner Manta Denizcilik. The sale, which is the company’s second recorded …
https://splash247.com/wisdom-marine-cashes-in-on-handy-bulker-sale-in-deal-with-turkish-owner/
https://splash247.com/wisdom-marine-cashes-in-on-handy-bulker-sale-in-deal-with-turkish-owner/UK alternative investment platform Hayfin Capital Management has reached an agreement with US private equity group Arctos Partners to secure a management buyout of the business. The deal will see the acquisition of British Columbia Investment Management Corporation’s majority stake for an undisclosed sum. One of the largest institutional investors in Canada, with C$250.4bn in …
https://splash247.com/hayfin-seals-management-buyout-deal-with-arctos/
https://splash247.com/hayfin-seals-management-buyout-deal-with-arctos/Heavy lift and transport services firm Mammoet has entered into agreement to become the exclusive contractor for the provision of heavy lift and transport services at Steel River Quay, which lies at the heart of the Teesworks industrial zone in Teesside.Teesworks is a 2…
https://www.marinelink.com/news/mammoet-selected-exclusive-heavylift-515544
https://www.marinelink.com/news/mammoet-selected-exclusive-heavylift-515544Mitsui O.S.K. Lines (MOL) has decided to introduce the dynamic voyage optimization platform Wayfinder, developed by Sofar Ocean, to its operating vessels, aiming to reduce greenhouse gas (GHG) emissions by improving fuel efficiency.Wayfinder…
https://www.marinelink.com/news/mol-picks-dynamic-voyage-optimization-515546
https://www.marinelink.com/news/mol-picks-dynamic-voyage-optimization-515546Israeli ocean carrier ZIM celebrated the grand opening of its new U.S. headquarters in Virginia Beach, Va."We are excited to open our new U.S.A. headquarters in Virginia Beach. This milestone is a testament to our commitment to growth and innovation," said Eli Glickman, ZIM President and CEO.
https://www.marinelink.com/news/zim-opens-usa-headquarters-virginia-beach-515551
https://www.marinelink.com/news/zim-opens-usa-headquarters-virginia-beach-515551