Dry bulk shipping companies are essential in the global trade of commodities like coal, iron ore, and grain. They transport these raw materials in large, unprocessed quantities, facilitating economic activities worldwide. These companies manage specialized vessels designed to carry dry bulk cargo, ensuring the efficient movement of vital resources across the seas.
October 2023
The 2007-built vessel "Boston" will be sold to a non-affiliated third party for a net sale price of about US$18 million, according to a Memorandum of Agreement Diana Shipping Inc. (NYSE: DSX), (the "Company"), a global shipping company that specialises in the ownership and bareboat charter-in of dry bulk vessels.
4 Newcastlemax, 9 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax, and 9 Ultramax dry bulk ships will be among Diana Shipping Inc.'s fleet of 40 dry bulk ships after the aforementioned deal is complete. As of right now, the Company's fleet, which includes the m/v Boston, has a weighted average age of 10.51 years and a carrying capacity of roughly 4.7 million dwt.
Diana Shipping Inc. offers shipping and transportation services on a global scale through the ownership and bareboat chartering of dry bulk ships. The Company's boats transport a variety of dry bulk cargoes, including goods like iron ore, coal, grain, and other minerals, along major shipping lanes around the world, typically on short- to medium-term time charters.
March 2023
As it grows in Southeast Asia, GAC Group has joined forces with SME Logistics Holding to establish its first office there.
The Ho Chi Minh City office provides integrated shipping, logistics, and marine services to a variety of industries, including dry and liquid bulk, liners, FMCGs, and offshore energy, in support of customers at ports along the Saigon River.
The opening of the new facility is a reaction to the region's expanding need for shipping and logistics services, and it also offers a chance to support the exploration, production, and maintenance activities for Vietnam's expanding offshore wind farm projects.
March 2022:Â Western Bulk has taken advantage of the rising market turbulence and seen benefits on its efforts in operational development, superior execution, and data-driven decision making. As a result, the company generated a record net profit after taxes of USD 81 million on USD 1.49 billion in gross sales.
In comparison to prior years, market volatility has been noticeably higher in 2021. The business was in a good position to gain from a market expansion for the entire year. The company demonstrated an ability to shift positions and profit from the market fall in November and December by sticking to the strategy of using the company's risk capacity in the short-term market. Additionally, the considerable market volatility between the Atlantic and Pacific basins expanded the chances for geographical vessel location arbitrage.
March 2022: "NYK Group ESG Story 2022" was released by NYK, and it highlights initiatives for incorporating ESG into the Group's management strategies and gives a brief explanation of the Group's sustainable growth strategy over the long term. By encouraging the deployment of an LNG-fueled ship, taking steps to encourage the use of next-generation fuels like ammonia, and joining the CO2 transportation business, NYK also made efforts in 2022 to implement ESG management, successfully taking the lead in the shipping sector. Additionally, NYK signed a comprehensive partnership agreement with the Akita Prefecture in February, and in May the company's fifth domestic branch—the Akita branch—opened. We shall continue to work to promote regional growth, environmental preservation, human resource development, and renewable energy projects.
April 2022:Â The Maritime Forum, along with its partners BHP, Rio Tinto, Oldendorff Carriers GmbH & Co. KG, and Star Bulk Carriers Corp., a shipping company that specializes in the transportation of dry bulk cargoes, have signed a letter of intent to form a consortium to evaluate the development of an iron ore Green Corridor between Australia and East Asia. Green Corridors are certain shipping lanes where a quick deployment can be supported by focused governmental and industry action and where the economics, infrastructure, and logistics of zero- or near-zero emission shipping are more viable. The consortium's participants plan to evaluate green ammonia supply, bunkering, and first mover support mechanisms together in order to participate in a feasible Australia to East Asia trade route. The consortium's members are planning to evaluate green ammonia supply, bunkering, and first-mover support mechanisms in order to be able to participate in an iron ore green corridor that runs from Australia to East Asia.
February 2023: Diana Shipping Inc. Announces the Acquisition of an Ultramax Dry Bulk Vessel, Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that it has signed a Memorandum of Agreement to acquire from an unaffiliated third party the m/v Nord Potomac, a 2016 built Ultramax dry bulk vessel of 63,379 dwt, for a purchase price of US$27.9 million. The Company anticipates to take delivery of the vessel by the beginning of April 2023.
February 2023: United Maritime Announces the Acquisition of Three Dry Bulk Vessels consisting of Two Kamsarmaxes and a Bareboat Charter Agreement with a Purchase Option for one Panamax Vessel, United Maritime Corporation, announced that pursuant to its fleet growth strategy, it has entered into agreements with two unaffiliated third parties to purchase two high quality Kamsarmax dry bulk vessels, with prompt deliveries. The Company also announced that it has entered into a bareboat charter agreement for one Japanese-built modern Panamax dry bulk vessel with an unaffiliated third party in Japan. The bareboat charter agreement includes a purchase option for United.
February 2023: Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Japanese Kamsarmax Class Dry-bulk Vessel, Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the acquisition of a Japanese, 81,800 dwt, dry-bulk, Kamsarmax class vessel at an attractive price with a scheduled delivery date within the second quarter of 2025.
List of the Key Companies in the Dry bulk shipping Market includes
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Dry Bulk Shipping Market Highlights:
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