Topic
Bulk Carriers
Logistics Seanergy lifts fleet renewal to $591m with two Japanese-built capesizes
Greek bulker owner Seanergy Maritime has expanded its fleet renewal programme to eight ships worth a combined $591m, including two Japanese-built capesizes. Long-term charters on three China-built newbuildings set floor rates at about $23,100 per day, above which earnings link to the Baltic Capesize Index. The company also posted record Q2 net income of $26.2m and its spin-off United Maritime sold a panamax while adding capesize tonnage.
Logistics W Marine broadens newbuild drive with ultramax order at Jiangsu Dajin
Greek shipowner W Marine has placed an order for three 64,500 dwt ultramax bulk carriers at China's Jiangsu Dajin Heavy Industry, with deliveries scheduled for May, August, and November 2028. The deal, the company's first ultramax newbuildings, expands its newbuilding pipeline to five vessels, including two 1,800 TEU feeder containerships booked at Huanghai Shipbuilding. W Marine recently took delivery of two kamsarmaxes from Chengxi Shipyard, marking its return to the newbuilding market after nearly 20 years.
Logistics Jinhui Shipping Secures $70M in Leaseback Financing for Four Ultramax Newbuilds
Jinhui Shipping and Transportation has secured up to $70m in leaseback financing for four ultramax newbuildings across two deals, according to Splash247. The Oslo-listed owner is renewing its fleet with 63,500-64,500 dwt vessels and disposing of older supramax tonnage.
Logistics COSCO Shipping Development Orders 15 Newcastlemax Bulk Carriers in $1.1 Billion Fleet Expansion
COSCO Shipping Development has approved orders for 15 newcastlemax bulk carriers totaling RMB7.92bn ($1.1bn). Ten vessels will be built by Shanghai Waigaoqiao Shipbuilding and five by Nantong Xiangyu Shipyard, all with provisions for future methanol or ammonia conversion. The ships will be leased for 20 years to Wai Fung Shipping, a COSCO Shipping Bulk subsidiary.
Logistics Baltic Exchange CEO Predicts Rise of Outcome Markets as Shipping Faces New Volatility
Baltic Exchange CEO Mark Jackson forecasts the emergence of outcome markets alongside freight forward agreements (FFAs) and options as shipping faces increased volatility from geopolitical shocks, weather disruptions, and shifting trade patterns. He will discuss these trends at the Splash Singapore conference in September 2026, where dry bulk market dynamics and technology will be key topics.
Logistics Pelagic Credit Completes $47.4m Sale-and-Leaseback of Three Hartmann Handysize Bulkers
Oslo-listed Pelagic Credit has closed a $47.4 million sale-and-leaseback transaction for three Hartmann-controlled handysize bulkers, marking its entry into the dry bulk sector. The vessels will be chartered back to Hartmann on seven-year bareboat contracts, adding over $107 million to Pelagic Credit's backlog.
Logistics Greek Owner JME Navigation Adds Another Ultramax to New Dayang Orderbook, Securing 2030 Delivery Slot
JME Navigation has ordered another 64,000 dwt ultramax from New Dayang Shipbuilding, scheduled for early 2030 delivery. The deal lifts JME's orderbook at the yard to three Crown 63 vessels, with the first due July 2027. No price has been disclosed, but a recent comparable order valued similar ships at about $38.5 million apiece.
Logistics Dry Bulk Volatility Is No Longer the Risk but the Business Model, Says Sagitta Marine CEO
Dry bulk freight market volatility has shifted from cyclical predictability to disruption-driven uncertainty. Thomas Zaidman, CEO of Sagitta Marine, explains that commercial decisions now hinge on managing geopolitical and climate risks rather than eliminating them. The article examines how Red Sea diversions, Panama Canal restrictions, and algorithmic trading have transformed hedging and contracting strategies.
Logistics Diana Shipping threatens to cut Genco takeover bid after fleet value drops $50m
Diana Shipping has warned it may reduce its $27.34-per-share takeover proposal for Genco Shipping & Trading, citing a $50 million drop in Genco's fleet value since early June. The Athens-based owner claims a softer dry bulk market is eroding Genco's net asset value, and has also questioned the valuation method used by the New York-listed owner. Genco has rejected the allegations, stating that broker valuations show vessel prices are still rising.
Logistics Aruna Shipping Doubles Down With 10-Ship Ultramax Bulk Carrier Programme in China
Turkey's Aruna Shipping has ordered up to 10 ultramax bulk carriers from Yangzhou Guoyu Shipbuilding's new Zhoushan operation, including six firm 64,500 dwt vessels and four options. The order, valued at up to $350 million, will more than double Aruna's owned fleet and marks a shift into larger dry bulk tonnage. Deliveries are expected from Q2 2028 through 2030, according to shipbuilding databases.
Logistics Diana Drops Hostile Tender for Genco as Takeover Talks Stall, Keeps Higher Bid on Table
Diana Shipping has allowed its hostile tender offer for Genco Shipping & Trading to expire after insufficient shares were tendered, but the company is keeping its separate $27.34-per-share takeover proposal on the table. The tender, which offered $24.80 per share, saw 31.6% of Genco's outside stock tendered. Diana now seeks direct negotiations, while Genco disputes valuation claims and questions the stock component of the proposal.
Logistics Small Can Test Can Prevent Nickel Ore Liquefaction Tragedy at Sea
Nickel ore that is too wet can liquefy during voyage, shifting cargo and causing vessel capsizing. The can test — a simple field test — helps crews identify dangerously wet cargo before loading. Captain Simon Hodgkinson of West P&I explains the procedure and its limitations.
Logistics Diana Shipping secures 65% rate increase for newcastlemax Philadelphia in fixture with Classic Maritime
New York-listed Diana Shipping has secured a 65% rate increase for its 206,040 dwt newcastlemax Philadelphia, fixing it with Classic Maritime at $35,500 per day from August 8. The charter runs until at least March 10, 2027, and is expected to generate about $7.46m in gross revenue over the minimum period. This marks a return to Classic Maritime for the vessel, which was previously chartered by them in 2021 at $28,500/day.
Logistics Bangladesh leads ultramax buying spree as Meghna Group snaps up modern tonnage
Bangladesh has emerged as the most aggressive buyer in the dry bulk market, with ultramax bulkers leading a buying spree that saw five vessels change hands in the past week. Meghna Group is linked to purchases of two Oldendorff ultramaxes, while Seacon Tokyo sold for $41.6m. The buying spree is part of Bangladesh's efforts to expand its oceangoing merchant fleet, supported by financing discussions for an $80m IFC loan and a planned $1bn shipbuilding complex.
Logistics Adani Shipping Sells Capesize Bulker Aashna for $37.5m, Trims Fleet
Adani Shipping has sold the 179,500-dwt capesize bulker Aashna (built 2012) to Chinese buyers for approximately $37.5 million. The sale is part of a fleet reduction as capesize time-charter rates sit at $32,000/day despite a recent weekly decline. The sistership Aanya remains on the market, and demolition activity in the sector is minimal.
Logistics Diana Shipping Locks In 63% Rate Hike for Panamax Bulker Atalandi with Stone Shipping
Diana Shipping has chartered its panamax bulker Atalandi to Stone Shipping at a 63% higher rate of $16,500 per day. The enhanced fixture runs from August 5, 2026, with minimum gross revenue of $5.89 million. The deal joins a string of improved Diana fixtures this year, including the ultramax DSI Pegasus and kamsarmax Medusa.
Logistics Wisdom Marine Abandons Plans for Two Handysize Newbuilds from Naikai Zosen
Wisdom Marine has terminated plans to acquire two handysize newbuildings from Japan's Naikai Zosen, citing failure to reach an agreement. The deal, approved in March 2025 with a $70.75 million budget, never progressed to a formal contract. Wisdom reports no material financial or operational impact.
Logistics Evalend Shipping Places $310m Newcastlemax Order at Dajin Heavy Industry
Evalend Shipping has placed a $310m order for three-plus-one newcastlemax bulk carriers at China's Dajin Heavy Industry. The firm order covers three 211,000 dwt vessels with delivery across 2029 and 2030, marking Evalend's entry into the newcastlemax sector.
Logistics Fertiliser Vessels Stuck at Indian Ports Raise Supply Fears for Peak Kharif Sowing
Two fertiliser vessels carrying DAP and urea have been waiting for berth at Kandla Port since July 14, delaying distribution ahead of India's kharif sowing season. Port congestion, limited railway rakes, and supply chain disruptions from the West Asia crisis are blamed. While urea supplies remain comfortable, DAP availability is tight due to constrained global ammonia and sulphur supplies.
Logistics Irish Authorities Sell Cocaine Bulker for $1; Vessel Heads to Bulgaria for Grain Trade Refit
Irish authorities sold the cocaine-laden bulker Matthew for $1 after spending €17m on maintenance. The Panama-flagged supramax, seized in Sept 2023, is now under tow to Varna, Bulgaria, where it will be refitted and likely return to commercial service carrying grain in the Black Sea, according to Splash247 and RTÉ.
Logistics New Transhipment Vessel Wontanara Delivered to Speed Guinea-China Iron Ore Flows
CSSC Chengxi Shipyard has delivered the Wontanara, the first of five transhipment vessels designed to move iron ore from Rio Tinto's Simandou project in Guinea to China. The self-unloader can discharge 12,000 tonnes per hour and, once all five are operating, can load a 200,000 dwt bulk carrier within 24 hours, reducing anchorage waiting times.
Logistics Seacon Adds $66m Bulker Pair at Tsuneishi Zhoushan for 2028 and 2030 Delivery
Hong Kong-listed Seacon Shipping has ordered two handysize bulk carriers at Tsuneishi Group (Zhoushan) Shipbuilding for a total of $66m, with deliveries in 2028 and 2030. The newbuilds add to Seacon's extensive pipeline of 44 vessels under construction at the end of 2025. Meanwhile, Seacon agreed to sell the 2023-built bulker Seacon Tokyo for $41.6m, generating a gain of about $9.86m.
Logistics Diana Shipping Locks In Nearly 30% Rate Increase for Ultramax in New Fednav Charter
Diana Shipping finalized a new time charter for its ultramax DSI Pegasus with Fednav at $18,350/day, nearly 30% above the previous Cargill rate. The deal runs from July 27, 2026 through at least August 15, 2027 with an extension option, expected to generate approximately $6.95m in gross revenue.
Logistics China Merchants Energy Shipping Orders $728m VLOC Fleet, Its First in Over a Decade
China Merchants Energy Shipping has placed a $728m order for six 343,000 dwt very large ore carriers, its first VLOC newbuilding in over a decade. The vessels will be built by sister company China Merchants Shipbuilding Industry and are intended for long-term contracts with major commodity traders. Deliveries are scheduled across 2029 and 2030, subject to shareholder approval on July 28.
Logistics Pacific Basin CEO Martin Fruergaard Identifies Three Key Challenges for Dry Bulk Shipping
Pacific Basin Shipping CEO Martin Fruergaard will address the Dry Bulk Market Outlook at Splash Singapore on September 24, highlighting three key challenges: disciplined vessel supply amid regulatory uncertainty, China's evolving commodity consumption, and geopolitical impacts on trade flows. He also emphasizes technology integration and Singapore's maritime role.
Logistics COSCO Shipping Bulk Orders Four Newcastlemaxes at Qingdao Beihai for 2029 Delivery
COSCO Shipping Bulk has ordered four newcastlemax bulk carriers from CSSC Qingdao Beihai Shipbuilding, with delivery expected in 2029. The 210,000 dwt vessels are designed for future alternative fuel conversion. This follows a three-ship order earlier this year, part of a wider dry bulk expansion by the COSCO group.
Logistics Zhejiang Shipping Orders Two Ultramax Bulk Carriers at New Dayang Shipbuilding for $77M
Zhejiang Shipping Group has ordered two ultramax bulk carriers from New Dayang Shipbuilding in a deal worth RMB519.6m ($77m). The 64,000 dwt conventionally fuelled vessels are slated for delivery by the end of March and June 2030, according to Splash247.
Logistics KC Maritime Returns to China for Ultramax Pair at Jiangsu Soho Chuangke Shipbuilding
Hong Kong-based bulker owner KC Maritime has ordered two 63,500 dwt ultramax vessels from Jiangsu Soho Chuangke Shipbuilding, marking its return to the newbuilding market since 2022. No price or delivery dates have been disclosed. The company currently operates four kamsarmaxes and eight ultramax/supramax vessels.
Logistics Singapore Strait crackdown sends Asian sea robberies to seven-year low
Reported piracy and armed robbery in Asian waters fell to a seven-year low in the first half of 2026, with 35 incidents recorded – a 64% drop from 96 a year earlier. The decline was driven by a successful crackdown in the Straits of Malacca and Singapore (SOMS), where incidents plunged 74% to 21. However, Philippine ports and anchorages saw a spike to 10 incidents from zero, while crews remained unharmed in most cases. The ReCAAP Information Sharing Centre attributed the improvement to industry prevention measures and law enforcement cooperation.
Logistics Himalaya Shipping locks in premium index-linked charter for LNG dual-fuel newcastlemax Mount Aconcagua
Himalaya Shipping has fixed its 2024-built LNG dual-fuel newcastlemax Mount Aconcagua on a 16-18 month index-linked time charter at a significant premium to the Baltic 5TC index. The vessel, one of 12 in the fleet built at New Times Shipyard, includes conversion rights to switch to a fixed rate. The fixture underscores strong demand for eco-friendly bulkers as capesize earnings strengthen.
Logistics ADNOC L&S Bulker Spending Nears $74m with Fourth Secondhand Vessel Acquisition
ADNOC Logistics & Services has acquired its fourth secondhand bulk carrier, pushing its total bulker spending to nearly $74 million. The latest purchase is the 61,500 dwt ultramax Aliya, built in 2011 by Shin Kasado Dock. The acquisitions have expanded ADNOC L&S's medium-sized bulker fleet to 12 vessels, comprising four ultramaxes, five supramaxes, and three handysize ships.
Logistics Malaysia's Lianson Fleet Group Acquires Two Ultramax Bulk Carriers for $52.32 Million
Malaysia's Lianson Fleet Group (LFG) is acquiring two 2017-built ultramax bulk carriers for $52.32 million, its first vessels in that size segment. The deal, along with a previously announced supramax acquisition, will bring LFG's fleet to 41 units comprising barges, tugboats, and bulk carriers. The purchases align with LFG's strategy to diversify beyond offshore support vessels into global dry bulk shipping.
Logistics How Not to Become a Shipowner: A Cautionary Tale of Funding, Trust, and Momentum in Shipping Deals
A failed attempt to build a shipping company, orchestrated by a Geneva commodity trader and a broker, reveals classic pitfalls: funding never materialised, due diligence was overridden by momentum, and no one was willing to stop. The vessel quietly sailed away, leaving only lessons.
Logistics Diana Shipping and Genco Trade Fire Before Tender Deadline as Public Battle Escalates
The takeover fight between Diana Shipping and Genco Shipping & Trading has intensified in the final stretch before Diana's tender offer deadline on July 10. Genco has urged shareholders not to tender, arguing that the offer undervalues the company, while Diana accuses Genco of avoiding negotiations. As of June 26, 10.6 million Genco shares had been tendered, representing 28.4% of outstanding shares not owned by Diana.
Logistics C Management expands capesize fleet to three ships with acquisition of two Maran Dry bulkers
C Maritime, the Cyprus-based owner behind the C Management platform, has acquired two capesize bulk carriers from Maran Dry Management, increasing its capesize fleet to three vessels. The 2009-built C Antares and 2008-built C Aurora, previously named Maran Happiness and Maran Argonaut, are now managed by Geneva-registered C Management. The transaction underscores fleet renewal trends among major Greek shipowners.
Logistics Polaris Shipping Orders Vale-Backed Newcastlemaxes at Hengli Shipbuilding
South Korea's Polaris Shipping has contracted two firm 210,000 dwt newcastlemax bulk carriers at China's Hengli Shipbuilding, with options for two more, at about $80m each for delivery in 2028. The newbuilds are linked to employment with Brazilian mining giant Vale, which is pushing an alternative-fuel dry bulk renewal programme covering up to 30 ore carriers. Polaris is one of three Asian owners selected by Vale for a package of up to 20 triple-fuel newcastlemaxes.
Logistics Diana Shipping Secures Improved Kamsarmax Charter at $16,850 per Day for Medusa Bulker
Diana Shipping has fixed its kamsarmax bulker Medusa to Aquavita International at a gross rate of $16,850 per day, a 29.6% increase over its previous charter with Cargill. The deal runs from July 10 to at least October 5, 2027, and builds on Diana's improving forward cover.
Logistics Panama Canal Tightens Draught Limits for Neopanamax Vessels Again Starting July 24
The Panama Canal Authority will reduce maximum authorised draught for neopanamax vessels to 14.94 metres from July 24 and further to 14.78 metres from August 15, citing hydrological conditions and a potential El Niño. The restrictions signal a return to defensive water management ahead of the dry season, though not yet as severe as the 2023-24 drought.
Logistics Cargo Vessel Attacked by Armed Assailants Off Yemen, Raising Red Sea Security Alarms
A bulk carrier was attacked by armed assailants approximately 30 nautical miles southwest of Hodeidah, Yemen, on July 6, 2026. The vessel's armed security team returned fire, and the attackers withdrew. No group claimed responsibility, but the incident highlights persistent Houthi and piracy threats in the Red Sea and Gulf of Aden.
Logistics Seanergy Maritime Launches €100m Bond on Euronext Athens for Dry Bulk Fleet Expansion
Nasdaq-listed capesize owner Seanergy Maritime has launched a €100m public bond offering on Euronext Athens, with proceeds earmarked for newbuilding payments and secondhand vessel acquisitions. The five-year bond aims to raise up to €100m, with net proceeds of about €95.6m. The company's fleet currently stands at 19 vessels, with seven newbuildings under construction. The move follows a broader trend of Greek shipping companies tapping local capital markets, including Safe Bulkers' dual listing on Euronext Athens.
Logistics Bangladesh's Akij Resource Orders Four Ultramax Bulk Carriers at Chinese Yard Nantong Xiangyu
Bangladesh's Akij Resource has ordered four 63,800 dwt bulk carriers at Nantong Xiangyu Shipbuilding in China. The newbuilds will join its existing fleet of 10 ocean-going bulkers and 50 lighter vessels, potentially increasing capacity on dry bulk routes to Bangladesh. No price or delivery dates have been disclosed.
Logistics Guide2Inspections App Turns Ship Inspections Into Onboard Training for Seafarers
Singapore-based Navguide Solutions has developed Guide2Inspections, an app that combines onboard inspections, training, and mentoring into a single offline tool. The platform is already being used by companies including MOL and KOTC, and aims to improve RightShip, SIRE 2.0, and port state control outcomes while reducing detentions and claims.
Logistics Diana Shipping Extends Hostile Tender for Genco, Intensifying Dry Bulk Consolidation Battle
Diana Shipping has extended its hostile tender offer for Genco Shipping & Trading to July 18, maintaining pressure in one of dry bulk's most closely watched takeover battles. The offer, valued at $27.34 per share, is backed by a $1.433bn financing package, with Star Bulk Carriers poised to acquire 16 Genco vessels for $470.5m if the deal proceeds. As of June 26, about 10.5m Genco shares (28.4% of outstanding) had been tendered.
Logistics COSCO Shipping Development Orders 24 Dry Bulk Carriers Valued at $1.27 Billion in Leasing Play
COSCO Shipping Development has ordered 24 dry bulk carriers worth RMB8.66bn ($1.27bn), including 20 grain carriers and four newcastlemaxes, with deliveries scheduled from mid-2029 through end of 2030. All vessels will be leased on 240-month charters to Huifeng, a COSCO Shipping Bulk subsidiary, under a structure supporting the Hainan Free Trade Port's renminbi strategy.
Logistics Castor Maritime Adds Second Modern Kamsarmax Bulk Carrier in One Week
Nasdaq-listed Castor Maritime has purchased another modern kamsarmax bulk carrier, the 2024-built Magic Saturn, for $41.9 million, taking delivery on June 29. This follows the acquisition of the 2023-built Magic Jupiter for $37.5 million last week, bringing total spending on the segment to nearly $80 million. With the addition, Castor's fleet has grown to 11 vessels.
Logistics New Laredo Rail Park Aims to Diversify Beyond Trucking at Busiest US-Mexico Border Gateway
The US Surface Transportation Board approved the Laredo Gateway Industrial Railway, a 2.6-mile short-line railroad within Kraus Development's Gateway Industrial Park in Laredo, Texas. Developers Kraus Development and Ironhorse Resources aim to create Laredo's first modern short-line rail-served industrial park, providing shippers a new option to transfer cargo between trucks and rail without leaving the region. Construction is expected to start within three to six months, with rail service beginning about a year later.
Logistics Nissen Kaiun closes in on double-digit bulker sell-off, sells Lady Deena for $70m
Japanese shipowner Nissen Kaiun has sold the 183,000 dwt capesize Lady Deena for around $70m, just two ships short of double-digit vessel sales in six months. The sale to Chinese buyers sets a new price benchmark, rising nearly 7% from a comparable sale 10 weeks earlier. The company still operates one of the youngest capesize fleets, with 23 vessels averaging four years old.
Logistics Enesel Group Orders Eight Ultramax and Capesize Newbuildings in Return to Dry Bulk
Greek shipowner Enesel Group has placed orders for eight dry bulk newbuildings across two Chinese yards, marking a significant return to the segment after exiting last year. The fleet includes four 63,500 dwt ultramaxes at Jiangsu Hantong Ship Heavy Industry and four 181,500 dwt capesizes at Hengli Shipbuilding in Dalian, all scheduled for delivery in the second half of 2027 and first half of 2028. According to Splash247, the move expands Enesel's dry bulk exposure following the sale of three capesizes to Hayfin Capital.
Logistics U-Ming signs for up to four newcastlemax bulk carriers in China at $77-80 million each
U-Ming Marine Transport has signed a contract with Jiangsu Hantong Ship Heavy Industry for two firm 211,000 dwt newcastlemax bulk carriers, with options for two more, at a cost of $77-80 million per vessel. The order is part of a wider dry bulk expansion plan approved earlier this year, targeting a fleet of over 100 vessels and more than 10 million dwt. Deliveries are scheduled for 2029 and 2030.
Logistics Castor Maritime Adds 2023-Built Kamsarmax Seacon Hamburg for $37.5M in Notable Deal
Cyprus-based Castor Maritime has added the 2023-built kamsarmax Seacon Hamburg to its fleet for $37.5 million. The 85,505 dwt bulker, built at CSSC-affiliated Huangpu Wenchong Shipbuilding, will become the youngest in Castor's fleet of 10 ships. The deal stands out amid cautious bidding from Greek institutional buyers.
Logistics HMM commits $1.1bn to 10 bulk and gas carriers in fleet diversification push
HMM has placed a KRW1.7trn ($1.1bn) order for eight bulk carriers and two gas carriers, continuing its expansion beyond container shipping. The investment aligns with a 2030 plan to grow its dry bulk fleet from 36 to 110 vessels and diversify into tanker and gas markets.
Logistics Diana Shipping secures improved panamax bulker charter rate at $15,750 per day
Diana Shipping has fixed the 77,901 dwt panamax bulker Ismene to Paralos Shipping at $15,750 per day, a significant increase from its previous $11,000 rate. The charter begins July 5 and runs through mid-2027, yielding at least $4.88 million in gross revenue. This marks a return to Paralos, which previously chartered the vessel at $12,650 per day in 2023.
Logistics Turkish owner EOS orders four bulkers in China, delivers revived containership
Turkish EOS Group has placed a four-ship dry bulk order at Jiangsu Dajin Heavy Industry in China, comprising two 40,400 dwt handysize and two 64,500 dwt ultramax bulkers with deliveries from August 2028 to May 2030. Meanwhile, EOS delivered the 917 TEU containership Behram Box, left unfinished after the 2008 financial crisis, now in service with DP World's feeder unit Shipping Solutions on a Turkey-Bulgaria shuttle. The moves signal continued fleet investment by the century-old Turkish group.
Logistics New Dry Bulk Venture Mayborne Bulk Launches in Dubai with Asset-Light Model
A new dry bulk shipping venture, Mayborne Bulk, has been launched in Dubai by industry veterans Jesper Lollesgaard and Parikshit Sial. The company will operate an asset-light model, chartering in vessels and building a commercially controlled fleet, with a focus on the handy, supramax, and ultramax sectors. Strategic backing comes from Dubai-based MINGroup.
Logistics Taylor Maritime Adds Two More Vessel Disposals, Returning $28M to Shareholders
London-listed dry bulk owner Taylor Maritime has agreed two more vessel-related disposals, generating $28M net proceeds. The company plans a third capital return in July, bringing total returned to $218.4M since its managed realisation process began. The owned fleet is now reduced to six bulkers.
Logistics Four fertiliser ships clear Strait of Hormuz; head to Indian ports
Four cargo vessels carrying urea, DAP and sulphur have successfully navigated the Strait of Hormuz amid West Asia tensions and are heading to Indian ports (Krishnapatnam, Kakinada, Paradeep, Mundra). The Ministry of Chemicals and Fertilisers reported that cumulative fertiliser stocks as of June 22 stood at 196.08 lakh tonne, up from 168.67 lakh tonne a year ago, with domestic production reaching 133.12 lakh tonne and imports at 43.69 lakh tonne since March 1.
Logistics Japanese Shipping Venture Sakura Ocean Places Debut Bulker Orders at Three Domestic Yards
Sakura Ocean Corporation has ordered its first three bulk carriers at three Japanese shipyards: Imabari Shipbuilding, Onomichi Dockyard, and Tsuneishi Shipbuilding. The 40,000–42,000 dwt vessels are scheduled for delivery by 2030 and will be employed under long-term charter with domestic shipping companies. The venture was established in January 2025 via a capital and business alliance led by SOMEC Corporation, Shoei Kisen Kaisha, Onomichi Dockyard, and Kambara Kisen.
Logistics China Merchants Unit Orders Two Kamsarmax Bulk Carriers at Jiangsu Haitong for 2028 Delivery
Shanghai Changjiang Shipping, a China Merchants Group subsidiary, has ordered two 82,000 dwt kamsarmax bulk carriers at Jiangsu Haitong Offshore Engineering Equipment. The vessels are scheduled for delivery in 2028, with market estimates placing the contract value at around $75 million. The order is part of a broader fleet renewal programme within China Merchants Group.
Logistics Turkish-Owned Bulker Struck by Drone in Black Sea as Port Fires Escalate Tensions
A Panamanian-flagged dry bulk vessel owned by Turkish interests was struck by a drone in the Black Sea on Monday, catching fire and prompting a Ukrainian navy rescue operation. The attack follows a wave of Ukrainian drone strikes that set fuel terminals ablaze at Kerch Commercial Port and Port Kavkaz around the Kerch Strait. All nine crew members were rescued, but casualties were reported.
Logistics Fortescue Charters Up to 12 Ammonia-Capable Newcastlemax Bulk Carriers from CMB.TECH
Fortescue has signed an agreement with CMB.TECH to charter up to 12 ammonia-capable newcastlemax bulk carriers from Bocimar. Up to three vessels will be delivered with dual-fuel ammonia engines by end of 2026, while nine will be ammonia-ready. The deal represents one of the largest commercial commitments to ammonia-capable bulk carriers and could cut CO2 emissions by 250,000 tonnes annually if operated on green ammonia.