Commentary

  • Dry Bulk

    Star Bulk rejuvenates capesize fleet

    <strong>STAR Bulk Carriers has spent $42.5m purchasing a 2000-built, 171,000 dwt capesize vessel to replace another ship sold last year, writes Liz McCarthy.The new ship will be renamed Star Aurora and will replace the 1992-built, 175,000 dwt Star Alpha, which was reported as sold by sale and purchase brokers at $19.7m in July 2009. The ship was delivered to its undisclosed buyers in the fourth quarter of 2009, the company said. The Athens-based company is expecting the Star Aurora to be delivered charter-free between October-November 2010, at which point the Nasdaq-listed group aims to have secured period time charter employment for the vessel. The new ship, of which the seller was not disclosed, bumps up Star Bulk’s fleet to 12 vessels, totalling approximately 1.1m dwt with an average age of 10.2 years. Star Bulk president and chief executive Akis Tsirigakis commented yesterday: “We are pleased to acquire a younger capsize vessel of quality to replace the older one sold.
  • Dry Bulk

    Gloom forecast to return after surge of opportunist fixtures

  • Dry Bulk

    Gloom forecast to return after surge of opportunist fixtures

    A SPATE of fixtures in an otherwise very quiet market helped brighten capesize owners’ fortunes last week, but brokers thought gloom that had settled over the sector would grow heavier this week and cancel the previous week’s gains.
  • Dry Bulk

    Nerves of steel required as rates continue to spiral downwards

    CAPESIZE owners will need nerves of steel over the next month or so as rates are set to continue their downward plunge into a seemingly bottomless black pit, according to brokers.
  • Dry Bulk

    Turkey to Asia prices defy slide

    SUPRAMAX owners booked for Turkey to Asia spot trips have defied a slide in rates seen on all other routes in the sector as a dearth of bigger ships left charterers with less available tonnage to choose from.
  • Dry Bulk

    Uncertainty dogs spot market beyond holidays

    PANAMAX owners hoping for an improvement in spot rates after the Chinese New Year holidays face uncertain market conditions, <em>writes Liz McCarthy</em> .
  • Dry Bulk

    Bulking up on gloom

    OUTSIDE shipping circles, the Baltic Dry Index has garnered a considerable fan club as a leading indicator of world trade. Well, the bad news is that the composite yardstick for the health of the bulk trades is currently down a full 42% on the 2009 high of 4,661 recorded as recently as last November.
  • Dry Bulk

    ‘Panic’ over silent panamax deals

    CHARTERERS quietly taking panamax tonnage in the Atlantic have panicked some owners and kept time charter rates sliding south for another week.
  • Dry Bulk

    A queuing mentality

    THE Australian coal export port of Newcastle is fast reclaiming its title as the demurrage capital of the world.
  • Dry Bulk

    Capesizes rates in freefall ahead of ore price talks

    CAPESIZE rates have plunged into a dark abyss, with little prospect of climbing back into the bright light until China agrees new iron ore prices with the major producers in the coming months, brokers have said.
  • Dry Bulk

    Supramax rates fall 20% on Indian ore exports drop

    A SLOWDOWN in Chinese demand for Indian iron ore has pushed supramax spot rates down nearly 20% in 10 days as owners drop prices to secure work.
  • Dry Bulk

    Cut-price Asian ships take Atlantic business

    PANAMAX owners with ships open in the oversupplied Pacific spot market are slashing prices and stealing European business by offering heavily discounted transatlantic rates.
  • Dry Bulk

    Queue here for rescue

    LAST year, China’s insatiable demand for dry bulk commodities rescued shipowners from doom. Can port congestion be their saviour in 2010?
  • Dry Bulk

    Atlantic rates fall after owners stall

    RATES for panamax bulk carriers trading within the Atlantic region fell for the first time in four weeks as chartering inquiry slowed and concerns about the negative capesize market dampened sentiment.
  • Dry Bulk

    Atlantic rates jump on cargo influx

    PANAMAX Atlantic rates have climbed to a seven-week high as an influx of cargoes built up over the western hemisphere’s holiday season caused a surge in activity.
Week on Wall Street | October 24

Week on Wall Street | October 24

DryShips' Economou continues to command attention

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