Breakbulk & Projects

Ten takeaways from the bulk carrier market

George Lauriat | March 12, 2015 | Breakbulk & Projects | Breakbulk

The dry bulk carrier market is once again bumping along at historic lows with Baltic Dry Index (BDI) running in the mid-500 range. One quarter into 2015, here are some early takeaways on the dry bulk market in the Year of the Goat. Read More »

Asia Dry Bulk-Capesize rates hold down as tonnage glut continues

Reuters | March 12, 2015 | Breakbulk & Projects | Breakbulk

Rates for capesize bulk carriers, which have been close to six-year lows for the last two months, will remain under pressure as a tonnage glut continues to weigh on the market, brokers said. Read More »

Chemical tanker shipping industry faces a challenging 2015

AJOT | March 11, 2015 | Breakbulk & Projects | Breakbulk

Chemical tanker shipping faces another challenging year of falling freight rates in 2015 but the trade is expected to recover next year, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Read More »

SafmarineMPV extends its USA to West Africa multi-purpose shipping service southbound

AJOT | March 09, 2015 | Breakbulk & Projects | Projects | Ports & Terminals | Ports | Break Bulk Port

Multipurpose shipping line SafmarineMPV – which offers project cargo, break-bulk and container services to West Africa - is expanding its service on the USA-West Africa trade to include Congo and Angola. Read More »

Eagle Bulk Shipping Inc. Board of Directors appoints Ryan as CEO

PR Newswire | March 09, 2015 | Breakbulk & Projects | Breakbulk

NEW YORK, March 9, 2015 /PRNewswire/ -- The Board of Directors of Eagle Bulk Shipping Inc. (Nasdaq: EGLE) (the "Company" or "Eagle Bulk")has announced that it appointed Stanley H. Ryan, a current Eagle Bulk Board member and former global co-leader of Cargill's Agricultural Supply Chain businesses, as Chief Executive Officer, effective March 6, 2015. Mr. Ryan succeeds Sophocles N. Zoullas who has resigned from all positions at the Company. In addition, Mr. Zoullas and the Company have entered into a Separation Agreement and General Release.

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CEVA’s CEO, Xavier Urbain, opens new South East Asia headquarters at West Hub in Singapore

AJOT | March 09, 2015 | Breakbulk & Projects | Energy | Maritime | Refinery | Transport Intermediaries

CEVA’s CEO, Xavier Urbain, opens new South East Asia headquarters at West Hub in Singapore West Hub facility home to new City of Energy, Singapore, and Center of Logistics Excellence. Read More »

Sri Lanka cabinet suspends Chinese project on approval issue

Reuters | March 06, 2015 | Breakbulk & Projects | Projects

Sri Lanka suspended a $1.5 billion Chinese luxury real estate project in Colombo on Thursday until it obtains required government approvals, a move that risks a diplomatic row with its biggest foreign investor. Read More »

Philippines’ First Gen seeks partner for $1 billion LNG import terminal

Reuters | March 06, 2015 | Breakbulk & Projects | Projects | Energy | Maritime | Ports & Terminals | Terminals

The Philippines’ First Gen Corp is talking with potential partners for its proposed $1 billion LNG import terminal, the head of the energy firm said on Friday. Read More »

Surplus cash costs weigh on earnings of German transport bank DVB

Reuters | March 05, 2015 | Breakbulk & Projects | Breakbulk | Liner Shipping

German transport bank DVB's 2014 net profit fell 23 percent partly due to the cost of holding surplus cash as borrowers repaid loans faster than the lender could attract new business, Chief Executive Wolfgang Driese said. Read More »

Shipping industry faces shake up as private equity unwinds bets

Reuters | March 05, 2015 | Breakbulk & Projects | Breakbulk

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry. Read More »

U.S. Senate fails to override Obama’s veto of Keystone XL approval

Reuters | March 04, 2015 | Breakbulk & Projects | Projects | Energy | Pipeline

The U.S. Senate failed on Wednesday to override President Barack Obama’s veto of legislation approving the Keystone XL oil pipeline, leaving the controversial project to await an administration decision on whether to permit or deny it. Read More »

Port Hedland iron ore exports to China up in February

Reuters | March 04, 2015 | Breakbulk & Projects | Breakbulk | Liner Shipping

Exports of iron ore to China through Australia’s Port Hedland terminal rose 0.3 percent in February from January, official figures show, though the month had fewer shipping days. Read More »

Sri Lanka threatens Chinese firm with legal action to stop project

Reuters | March 04, 2015 | Breakbulk & Projects | Projects | Liner Shipping

Sri Lanka will take legal action against a Chinese firm for not halting work on a $1.5 billion luxury real estate project until a probe is completed, a government minister said on Wednesday. Read More »

BG Group sees its Australian project helping to double LNG supplies

Reuters | March 04, 2015 | Breakbulk & Projects | Projects | Energy | Maritime

A smooth start to operations at BG Group’s Australian project in Queensland is expected to help the British company to roughly double its liquefied natural gas (LNG) supplies in 2015/16, it said on Wednesday. Read More »

Next generation U.S. Navy patrol boats move through JAXPORT’s dedicated heavy lift dock

AJOT | March 03, 2015 | Breakbulk & Projects | Projects | Ports & Terminals | Ports

Highly trained master riggers at Portus recently moved the first shipment of next generation SAFE Boats Mk VI Patrol Boats purchased by the U.S. Navy through the heavy lift and specialty cargo berth at JAXPORT’s Blount Island Marine Terminal, one of the nation’s highest weight-bearing capacity docks. Read More »

Crowley transports two massive 98,000-pound electrical equipment enclosures to Puerto Rico

AJOT | March 03, 2015 | Breakbulk & Projects | Projects

Crowley Maritime Corporation’s liner services group recently transported two massive electrical equipment enclosures with a combined weight of 196,000 pounds to San Juan, Puerto Rico Read More »

United Yacht Transport adds vessels for higher than expected demand in North America

AJOT | March 01, 2015 | Breakbulk & Projects | Projects

With three confirmed vessels so far in March, United Yacht Transport is continuing to grow its position as the leader in North American yacht transport. Read More »

Golden Ocean posts Q4 net loss hit by impairments

Reuters | February 27, 2015 | Breakbulk & Projects | Breakbulk

Dry bulk shipping firm Golden Ocean posted a wider fourth-quarter net loss than expected hit by impairments, and said the weak market conditions would continue to affect its earnings. Read More »

Commodities shipping crisis adds to loan woes for Greek banks

Reuters | February 26, 2015 | Breakbulk & Projects | Breakbulk

The global slump in demand for dry freight commodities is adding more pain to Greece's already crisis-hit banks by heaping pressure on many of their shipowner clients, particularly the smaller companies. Read More »