Two Asian shipowners, Vietnam’s ITC Corp, and China’s Fuhai Shipping sold their oldest bulk carriers for recycling as 2022 ended. ITC Corp’s 27,00-dwt bulker was sold to cash buyers for […]
New York-listed Eagle Buk Shipping completed a bit of Christmas shopping over the holidays, closing the reported buy of the 63,600-dwt Stony Stream (built 2015) for $24.2m. The Connecticut-based owner […]
China imposes coal import tariffs The Chinese Ministry of Finance has announced it will reimplement import tariffs of 3% on coking coal, among other types, from 1 April with the […]
The Freightos Baltic Index (FBX) was up 6% WOW on 1 January, marking the largest relative gain since August 2021, and still remains 63% above the average level in 2019. […]
The dry bulk sector struggled during 2022 as continued lockdowns in China met growing recession fears globally. The result has been freight markets under pressure and steeply discounted equities to […]
The most recently released data as of January 1st shows that the daily coal burn rate at China’s six major coastal power plants has come in at only 803,000 tons. […]
Ocean carriers are pulling out the stops to avoid idling container ships as slumping demand shows no sign of receding and freight rates slide. Capacity management measures include diverting ships […]
A weakening container freight market has raised the prospect of carriers facing an all-out rate war in 2023. The early Chinese New Year on 22 January means factories in China […]
Brief update on a few changes seen around the world this month. The war in Ukraine can no longer be called the war in Ukraine. While for much of this […]
The most recently released data as of December 25th shows that the daily coal burn rate at China’s six major coastal power plants has come in at only 824,000 tons. […]