Topic
dry bulk
Logistics Veritas Shipmanagement books fresh ultramax pair at COSCO yard, Splash247 reports
Veritas Shipmanagement has ordered two 64,000 dwt ultramax bulk carriers at COSCO Shipping Heavy Industry in Zhoushan, with delivery scheduled for 2030. The order extends a relationship that began in 2023 with four 63,600 dwt vessels. No contract price has been disclosed; Xclusiv assesses standard Chinese-built ultramax newbuildings at around $36m each.
Logistics Seanergy linked to fresh newcastlemax at Hengli as dry bulk orderbook grows
Seanergy Maritime has been linked to a 211,000 dwt newcastlemax newbuilding at Hengli Heavy Industries for delivery in 2029, according to Splash247. The order, if confirmed, would expand Seanergy's dry bulk newbuilding programme from seven to eight vessels, with the broader fleet renewal slate reaching nine ships. Seanergy has already secured charters for three 2027-dated capesizes at floor rates averaging about $23,100 per day.
Logistics Diana Shipping Sells 1.2M Genco Shares for $32M After Abandoning Takeover
According to Splash247, Diana Shipping sold 1.2 million Genco shares for about $32 million after aborting its nine-month takeover attempt. The sale reduces Diana's stake from 14.4% to 11.62%, with the remaining holding worth roughly $135 million. Genco now owns 44 bulkers, while Diana operates 36 bulkers and has two methanol dual-fuel newbuildings on order.
Logistics Diana Shipping rolls panamax bulker Leto into stronger Cargill fixture at $18,000 per day
Diana Shipping secured a 41% rate increase for the panamax Leto, fixing the 81,297 dwt bulker to Cargill at $18,000 per day from September 10. The charter runs until at least September 1, 2027, and a minimum extension will generate about $6.34m in gross revenue.
Logistics Diana Shipping withdraws Genco takeover after board rejects terms
Greece's Diana Shipping has withdrawn its takeover offer for Genco Shipping & Trading after the US bulker's board set terms Diana valued at about $36.91 per share, ending a nine-month battle. Diana's CEO called the demands "outrageous," but the company remains Genco's largest shareholder with more than 14% of stock.
Logistics Chrome Ore Emerges as Dry Bulk's Biggest Grower in 2026
Chrome ore has become dry bulk's fastest-growing trade in 2026, with seaborne volumes up 44% in the first half as South Africa's ferrochrome smelters shut down. China's imports rose 41.5% to 14.05m tonnes, while inventories exceeded 5m tonnes, signalling oversupply.
Logistics Great Eastern Shipping lines up fourth kamsarmax as fleet renewal push continues
Great Eastern Shipping has agreed to acquire a fourth kamsarmax bulker in just over a year — an unnamed 2015-built 81,886 dwt vessel scheduled for delivery between October and December. The Mumbai-listed owner is funding the purchase entirely from internal cash and has been selling older panamax, VLGC and tanker tonnage. Great Eastern now controls 40 ships totalling 3.24m dwt, according to Splash247.
Logistics Star Bulk walks away from $470.5m Genco fleet deal
Star Bulk Carriers has terminated its $470.5m agreement to acquire 16 Genco Shipping & Trading bulkers from Diana Shipping, according to Splash247. The move removes a key fleet component from Diana's takeover bid, though Diana said its offer and $1.411bn financing remain unaffected.
Logistics Western Bulk CEO Torbjorn Gjervik on Dry Bulk Freight, Grain Flows and Splash Singapore
Western Bulk CEO Torbjorn Gjervik says Atlantic tonnage is tight just as ECSA and USG grain volumes load, while a growing orderbook and uncertain Chinese demand darken the longer-term view. He will discuss the dry bulk outlook at the inaugural Splash Singapore conference on September 24, where he also expects smaller digital efficiency gains rather than one dramatic breakthrough.
Logistics China's coal buildout offers fresh ballast for dry bulk shipping
China's coal-fired power buildout is underpinning dry bulk shipping demand, with thermal coal burn at record highs and import prospects bullish, according to Commodore Research and other analysts. Despite a 1.4% dip in combined domestic coal production and imports, new plant construction and energy security priorities keep coal central to China's power strategy.
Logistics Diana Shipping locks in 18% rate gain for capesize Florida in new NYK charter
Diana Shipping has chartered its 2022-built capesize Florida to Japan's NYK at $30,500 per day, an 18% increase over its current Bunge rate. The fixture follows a 65% rate gain for the Philadelphia, while Diana's takeover proposal for Genco Shipping & Trading remains under board review.
Logistics DryDel fixes all four capesize newbuilds to K Line on five-year charters
Greek owner DryDel Shipping has secured five-year time charters with Japan's K Line for all four of its 182,000 dwt capesize newbuildings at Namura Shipbuilding. Two vessels are due in 2028 and two in 2029, with hybrid charter structures combining a guaranteed earnings floor and market upside.
Logistics Zodiac Maritime lands record price in first capesize sale of the year
According to Splash247, Zodiac Maritime completed its first capesize sale of the year, selling the scrubber-fitted 180,300 dwt Cape Condor for a record $39m. The price far exceeds VesselsValue's $33.73m valuation and Star Asia's ~$35m quote, underscoring aggressive buyer demand for Japanese-built vintage tonnage.
Logistics Himalaya Shipping switches two newcastlemax bulkers to fixed hire at $51,200 per day
Himalaya Shipping has switched two newcastlemax bulkers from index-linked charters to fixed-rate agreements averaging $51,200 per day for five months. The cover, running from August 1 to end-2026, is worth about $15.7m in gross hire, according to Splash247. The move follows earlier conversions of two ships at $38,700/day and four ships at $56,500/day.
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 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 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 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 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 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 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 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 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 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 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 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 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 Castor Maritime Returns to Bulker Buying with $37.5m Deal for Modern Eco Kamsarmax
Cyprus-based Castor Maritime has agreed to purchase a 2023-built eco kamsarmax bulker for $37.5m, according to Splash247. The unnamed vessel will become the youngest in the fleet, which will grow to 10 ships. The deal underscores Castor's ongoing fleet modernization and diversification, following earlier acquisitions and a stake in asset manager MPC Münchmeyer Petersen Capital.
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.
Logistics Erasmus Shipinvest Firms Up All Eight Kamsarmax Newbuilds at Jiangsu New Hantong Yard
Athens-based Erasmus Shipinvest Group has firmed up all eight kamsarmax bulk carrier newbuilds at China's Jiangsu New Hantong Ship Heavy Industry, exercising options on the original four-vessel order. The total investment is nearly $300 million, with deliveries expected to begin in 2028, adding 656,000 dwt of dry bulk capacity.
Logistics Genco Shareholders Routinely Re-elect Board, Defeating Diana Shipping's Board Challenge
Genco Shipping & Trading shareholders overwhelmingly re-elected all six company-backed director nominees, dealing a major setback to rival Diana Shipping's board challenge. Diana, which owns 14.4% of Genco, had sweetened its takeover offer to $27.34 per share but failed to gain board seats. The takeover saga continues as Genco reviews the latest proposal.
Logistics Diana Shipping sweetens Genco bid again with cash-and-stock offer valuing target at $27.34 per share
Greek dry bulk owner Diana Shipping has increased its takeover proposal for US-listed rival Genco Shipping & Trading for a fourth time, adding a stock component and valuing Genco at $27.34 per share. The cash-and-stock offer includes $24.80 per share in cash plus one Diana share valued at $2.54. Diana CEO Semiramis Paliou stated the proposal provides a meaningful premium and immediate cash value while creating one of the largest publicly listed dry bulk operators.
Logistics Tsakos Joins Greek Capesize Ordering Wave at Hengli Heavy Industries
Tsakos Group has contracted two 180,000 dwt capesize bulk carriers at China's Hengli Heavy Industries for about $78m each, with delivery in 2028. The order joins a wave of Greek dry bulk ordering at the yard, including Cape Shipping's separate deal for up to three similar vessels. The moves signal renewed Greek interest in capesize tonnage.
Logistics Geneva Dry Returns for Fourth Edition with New Bauxite Blitz and Investment Masterclass Sessions
Geneva Dry, the premier commodities shipping conference, returns for its fourth edition on April 27–28, 2027, at Hotel President in Geneva. The event introduces two new sessions: a Bauxite Blitz and a Dry Bulk Investment Masterclass, alongside returning panels on minor bulks, agri-commodities, coal, and iron ore. Confirmed speakers include Andrea Olivi (Trafigura), Jan Dieleman (Cargill), and others.
Logistics Diana Shipping Scales Back Genco Campaign Ahead of Crunch Shareholder Vote
Diana Shipping has withdrawn four of its six director nominees for Genco Shipping & Trading's board election, leaving only Jens Ismar and Paul Cornell. The move comes after all three major proxy advisory firms recommended shareholders support Genco's slate. The outcome of the June 18 vote could determine the future of Diana's tender offer for Genco.
Logistics Jinhui's Strategic Fleet Renewal with Newbuild Orders
Jinhui Shipping and Transportation has ordered two new dry bulk vessels from Jiangmen Nanyang Ship Engineering in China, valued at $68.3 million. This move aligns with Jinhui's strategy to modernize its fleet by replacing older vessels.