Bulk Carriers News

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.

“When a country that exports large quantities imposes tariffs, it risks working against its own interests,” says Stamatis Tsantanis, Chairman & CEO of Greek shipping companies Seanergy Maritime and Maritime United.“Other nations adjust by sourcing commodities elsewhere. For example, the first time President Trump imposed tariffs on various goods, China responded by rerouting its imports of maize, corn, and grains to countries like Brazil and other parts of Latin America,” he says.“From a trade perspective, this pattern remains consistent.

“In January, grain shipments to China are estimated to fall 51% y/y, partly due to a decline in import demand for soya beans caused by low crusher margins. Although Chinese soya bean production decreased 1% y/y in 2024, inventories are high after a surge in imports in the first half of the year. Import demand for maize and wheat has also declined due to record high harvests in China in 2024,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.As the world’s largest grain importer, China has for a long time strived to reduce its import dependence.

The Baltic Exchange's dry bulk sea freight index .BADI, which tracks rates for ships carrying dry bulk commodities, extended losses to a 23-month low on Thursday, dragged by weaker rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 69 points to 824 points, hitting its lowest since February 2023.The capesize index slipped 155 points to 1,081 points, dropping to over five-week low. Average daily earnings for capesize vessels…

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday and posted its third straight weekly loss, weighed down by weaker rates across vessel types.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 46 points to 778 points, its lowest level since February 2023. The index was down over 21% for the week.The capesize index slipped 98 points to 983 points, dropping to its lowest level since March 2023.

The International Shipping Register of Madeira (MAR) has officially reached 1,000 registered vessels, marking a key moment in the growth of Portugal's flag within Europe.In the 11 years since EUROMAR's establishment, nearly 200 shipping companies from around the world have chosen MAR.Albrecht Gundermann, Co-Managing Director and founder of EUROMAR, states: “The development of the register is excellent. When we started 11 years ago, we had a clear goal in mind: to provide Europe with a reliable, fast and innovative shipping register.

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a thirteen-day losing streak on Friday, supported by strong rates across the capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 20 points to 735 points, recording gains for the first time since Jan. 13. The contract was down 8.1% this week.The capesize index gained 33 points to 874 points.