Bulk Carriers News

Brazil's Santos Port Authority, which administers the largest port in the Southern Hemisphere, said the draft of the port will be deepened to attract larger vessels in coming years.Speaking at the headquarters of the Santos Trade Association, Beto Mendes, director of port operations, said on Thursday the plan is to deepen the draft to 16 meters and then 17 meters, potentially by 2031.Attracting larger vessels would allow Brazil to strengthen trade ties with commercial partners such as China…

Shipments of iron ore on the Great Lakes were below one million tons in March, a decrease of 39.1% compared to 2024, reports the Lake Carriers’ Association. Loadings were also below the month’s five-year average by 19.4%.Year-to-date, the iron ore trade stands at nearly three million tons, a decrease of 31.9% compared to a year ago. Iron ore shipments are 15.2% below their five-year average for the first three months of the year.Since 1880, Lake Carriers’ has represented the U.S.-flag Great Lakes fleet…

Mitsui O.S.K. Lines (MOL) has completed a biodiesel-blended marine fuel (biofuel) bunkering on its capsize bulk carrier, Midnight Dream.In March 2025, the vessel was supplied with about 1,000 tons of biofuel in Singapore, initiating MOL’s first biofuel utilization in collaboration with BHP Group on a capesize bulk carrier.Biofuel is made from organic resources (biomass) of biological origin, such as agricultural residues and waste cooking oil.The biofuel bunkered in the most recent operation is a blend of about 24% biodiesel (B24) with Very Low Sulphur Fuel Oil (VLSFO)…

The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, fell for a sixth straight session on Tuesday, pressured by lower rates across all vessel segments.The main index .BADI, which tracks rates for capesize, panamax, and supramax shipping vessels, was down 11 points at 1,587, its lowest since March 12.The capesize index .BACI fell 25 points to 2,440, a near one-month low.Average daily earnings for capesize vessels .BATCA…

The Baltic Exchange’s main sea freight index rose to its highest level in a week on Monday, supported by gains across all vessel segments amid strengthening demand and firmer commodity markets.The overall Baltic Dry Index (BDI), which tracks rates for ships carrying dry bulk commodities such as coal, iron ore, and grains, climbed 9 points, or 0.6%, to 1,652. This marks the index's highest level since March 17.Leading the upward momentum was the capesize segment, with its index rising 14 points, or 0.5%, to 2,690.

Belgian oil tanker group CMB.TECH has signed an agreement with Mitsui O.S.K. Lines (MOL) and MOL Chemical Tankers (MOLCT) for nine ammonia-powered vessels.The vessels will be among the world's first ammonia-powered Newcastlemax bulk carriers and chemical tankers. The delivery of these ships is expected between 2026 and 2029.The landmark agreement between MOL/MOLCT, and CMB.TECH involves nine ammonia-powered ships.Three ammonia-fitted 210.000 dwt Newcastlemax bulk carriers, currently on order at Qingdao Beihai Shipyard…

This week, the UK Marine Accident Investigation Branch (MAIB) issued its report on the deaths of three stevedores in a cargo hold access space on board a bulk carrier.Berge Mawson was in Indonesia, loading coal from barges using a floating crane. During a pause in loading due to heavy rain, all hatches were closed. After the rain stopped, a stevedore mistakenly entered the access space of a cargo hold and was overcome. Two other stevedores collapsed while attempting to rescue him as crew collected rescue equipment.

The UK Marine Accident Investigation Branch (MAIB) has issued its report on the deaths of three stevedores in a cargo hold access space on board the bulk carrier Berge Mawson.On the morning of 27 June 2022, three unconscious stevedores were found in a cargo hold access space on the Isle of Man registered bulk carrier Berge Mawson at Bunyu Island Anchorage, Indonesia. Despite prompt medical attention all three men died.Berge Mawson was loading coal from barges using a floating crane. During a pause in loading due to heavy rain, all hatches were closed.

“We estimate that coal shipments to China will show a 15% fall y/y during the first quarter of 2025, reaching a three-year-low. Seaborne cargoes have slowed due to weaker domestic demand and higher competition from domestic supplies and overland imports. Thermal coal cargoes have been particularly affected, though coking coal shipments have also decreased,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.During the first two months of 2025, thermal coal demand weakened due to a 6% y/y decrease in electricity generation from coal.

President Donald Trump's plan to revive U.S. shipbuilding using massive fees on China-linked ship visits to American ports is causing U.S. coal inventories to swell and stoking uncertainty in the embattled agriculture market, as exporters struggle to find ships to send goods abroad.Trump is drafting an executive order that would rely on funding from a U.S. Trade Representative proposal to levy fines of up to $1.5 million on China-made ships or vessels from fleets that include ships made in China.Those potential port fees have limited the availability of ships needed to move agriculture…

In Australia, Gladstone Magistrates Court has fined Universal Shipping Alliance Ltd, owner of the bulk carrier KMAX Leader, A$63,000 ($40,000) for failing to comply with an Australian Maritime Safety Authority (AMSA) written direction and ordered them to pay court costs.KMAX Leader, a Liberia-flagged bulk carrier, entered the Port of Gladstone in October 2023 due to propulsion issues. The vessel undertook extensive work in November 2023 which failed to repair the ship’s propulsion.Concerned with the lack of an effective repair plan…

ABS has provided guidance on the recent amendments to the International Code for the Safe Carriage of Grain in Bulk (Grain Code) that will become effective on January 1, 2026.Originally adopted in 1991, the Grain Code specified loading conditions for grain transport. However, these conditions did not account for all practical loading scenarios, particularly concerning "specially suitable compartments."The IMO has now defined a new loading condition which addresses compartments that are partly filled in the way of the hatch opening with ends untrimmed…

Norwegian maritime technology company Pherousa has secured approvals in principle (AiPs) from American Bureau of Shipping (ABS) and DNV for its ammonia cracking technology onboard ships, featuring PEM Fuel Cells and Fuel Gas Supply System (FGSS) for fully electric propulsion.Pherousa, together with partners, is developing ammonia cracking technology that could make the transition to fossil-free and zero-emission propulsion within the maritime short- to deep-sea transport sectors a reality.Key partners in the work towards the two AiPs include the designers Deltamarin…

China suspended on Tuesday the soybean import licenses of three U.S. firms and halted imports of U.S. logs, stepping up its retaliation for additional U.S. tariffs on Chinese goods.Earlier in the day, China also imposed import levies covering $21 billion worth of U.S. agricultural and food products including soybeans, wheat, meat and cotton.The three U.S companies affected by the license suspensions are farmer-owned cooperative CHS Inc, global grains exporter Louis Dreyfus Company Grains Merchandising LLC and export grain terminal operator EGT…

The term gamechanger is often over used enough to be rendered meaningless, but the huge Simandou mine in the West African country of Guinea is going to be just that as its start up is set to rock the seaborne iron ore market.The first cargoes from the project may arrive by the end of this year and it's expected that it will ramp up to its full capacity of 120 million metric tons per annum fairly quickly.The four blocks of Simandou are impressive in their scale and infrastructure challenges…

The global bulker fleet is facing a significant slowdown, driven by a combination of factors that are not only causing a decline in average speeds but also setting the stage for the emergence of a two-tier market, according to Veson Nautical.A new report: ‘Why is the bulker fleet slowing down? The impact of an aging fleet in the era of efficiency’ says that aging vessels, stricter emissions regulations, and evolving market dynamics are all factors in the lower average speeds being witnessed.The report cites data that suggests that older vessels…

“Three years after Russia’s invasion of Ukraine, the volume of dry bulk shipments from the two countries combined is 6% below pre-war levels. However, the past 12 months have seen the countries’ dry bulk shipments develop in complete opposite directions. While Ukraine has seen an 87% y/y jump in shipments, Russia’s have taken a 6% y/y fall. Overall, their combined volume has increased 3% y/y over the last 12 months,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.The primary reason for Ukraine’s spike in shipments lie in the success of its coastal corridor.

A Liberia-flagged cargo ship carrying corn from a Russian port to Turkey is trying to stop water leaking in after sustaining a crack in the Sea of Azov earlier this week, Russia's port agency said.The vessel, Pavel Grabovskiy, was loaded with 2,939 tons of corn.

Global iron ore shipments have fallen 7% y/y, during the first seven weeks of 2025, amid supply disruptions and weak Chinese import demand. Australian cargoes have fared the worst, down 10% y/y while shipments from Brazil have weakened by 5% y/y.“The comparatively stronger Brazilian shipments are boosting average sailing distances, but tonne mile demand is nonetheless estimated to have taken a 6% fall y/y,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.The weakness of iron ore shipments this year has intensified this past week in particular.

“Since 2019, the global container market has grown 8%, ending at 183.2m TEU in 2024, according to Container Trade Statistics. However, growth has been very uneven, and regional imbalances between exports and imports have increased by 33%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.In 2019, regional imbalances totaled 58.8m TEU, equal to 52% of inter-regional trade, but grew to 84.9m TEU and 70% in 2024. In absolute terms, the imbalance in the East & Southeast Asia region remained the largest at 42.4m, up from 29.4m TEU in 2019.

Belships ASA, a leading shipowning company specializing in Ultramax vessels, reported solid financial results for the fourth quarter of 2024, showcasing the growth of its fleet and robust profitability amidst challenging market conditions.:Belships posted an EBITDA of $19.4 million and a net profit of $7.5 million for Q4 2024. Despite a softer freight market, the company achieved a time charter equivalent (TCE) of $15,552 gross per day for its owned fleet, outperforming the Baltic Exchange index for Ultramax vessels…

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, retreated on Monday due to weaker larger vessel rates.The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 6 points to 809 points, snapping a six-session winning streak.The capesize index .BACI was down 30 points at 810 points.Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal…

Costamare has reported a net income of $290.7 million as part of its unaudited financial results for the fourth quarter and year ended December 31, 2024, also noting its plans to renew its owned fleet.Gregory Zikos, Chief Financial Officer of Costamare, said: “In the container ship sector the Red Sea crisis led to diversions via the much longer Cape of Good Hope route. These diversions, together with strong cargo demand, absorbed the incremental new building capacity. The commercially idle fleet remained low during 2024 and at the start of 2025.