Dry Bulk Shipping News

BIMCO, the world’s largest shipping association, has elected Paul Pathy, President & CEO of Canada’s largest dry bulk shipping company, Fednav, as President. Pathy was elected at the organization’s general meeting in Copenhagen on Wednesday, May 14, 2025.Paul Pathy takes over as the 47th President and is the first BIMCO President from the Americas. He is taking over from Nikolaus H. Schües, who is finishing his two-year term.“I am honored to take on the role of President at BIMCO.

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 entered into a share purchase agreement with Hemen for the acquisition of its stake in dry bulk shipping company Golden Ocean.The acquisition agreement is for 81,363,730 shares in Golden Ocean Group, representing ca. 40.8% of Golden Ocean’s outstanding shares and votes which includes all Golden Ocean shares controlled by Hemen, at a price of $14.49 per share.The transaction will not trigger a mandatory takeover bid or similar offer in Bermuda…

Dry bulk shipping company Golden Ocean Group has appointed Tonesan Amissah as Director of the company.Amissah is a Barrister and Attorney-at-Law with over 30 years of experience in international corporate law.She is currently a Client Director at Ocorian Services (Bermuda), a global fiduciary and corporate services company where she oversees all aspects of client service. Amissah is a former partner of Appleby (Bermuda) where she led the funds and investment services team and was a senior member of the firm’s corporate department, having joined Appleby in 1989.

Leading figures across the dry bulk shipping sector have joined in paying tribute to Dimitri Fafalios, who concluded his chairmanship of the International Association of Dry Cargo Shipowners (INTERCARGO) on 31 December 2024 after six years of distinguished leadership.Industry leaders have praised Mr Fafalios's pivotal role in strengthening international shipping standards during a period of unprecedented change, noting his success in expanding INTERCARGO's influence whilst advancing crucial safety and sustainability initiatives.

Marlink is supporting digital transformation for Thoresen Shipping with the migration of its fleet to the Sealink NextGen solution.Thoresen Shipping FactsThoresen Shipping is a global dry bulk shipping operator headquartered in Thailand with a presence in Dubai, London and Singapore. Dating to 1904, Thoresen Shipping owns a modern fleet of 24 Supramax and Ultramax bulk carriers.Marlink will deploy a complete hybrid network comprising guaranteed throughput by blending VSAT with Starlink LEO and additional backup services.

INTERCARGO, the International Association of Dry Cargo Shipowners, has announced significant changes to its leadership following its annual general meeting. The new appointments will take effect from January 1, 2025.In recognition of their distinguished service, Dimitrios Fafalios has been appointed Honorary Chairman following six years as Chairman. Fafalios, President of Fafalios Shipping, has led INTERCARGO through significant developments in the shipping sector since 2019,…

The BIMCO Dry Bulk Shipping Market Overview & Outlook July 2024 by Niels Rasmussen, BIMCO’s Chief Shipping Analyst, anticipates that the supply/demand balance will strengthen in 2024 but weaken in 2025.Supply is estimated to grow by 3-4% in 2024 and 1.5-2.5% in 2025, while demand is projected to grow by 4.5-5.5% in 2024 and weaken by 1-2% in 2025.Freight rates are expected to stay strong during the rest of 2024, but demand could ease amid high inventories among importers. Freight rates are expected to weaken in 2025…

Rand Logistics, a dry bulk shipping group operating on the Great Lakes, announced on Wednesday that it has reached a deal to acquire Andrie from Auxo Investment Partners, marking the company's expansion into liquid bulk shipping. Financial terms were not disclosed.Andrie, based in Muskegon, Mich., transports specialty liquid products such as asphalt, cement, refined oil products and calcium chloride, connecting North American production assets with distribution networks throughout the Great Lakes region.

Singapore headquartered dry bulk shipping company Centurion Bulk announce it has acquired Danish handysize operator Integrity Bulk.The takeover will be effective from July 31, 2024, subject to the finalization of the transaction, Centurion Bulk said.Centurion Bulk charters and operates more than 80 vessels worldwide, spanning the handysize to ultramax markets.The Integrity Bulk website currently lists a fleet of 12 vessels built from 2012 through this year, ranging from 28,227 dwt to 39,970 dwt.

Oslo-headquartered dry bulk shipping company Western Bulk announced it has named Torbjorn Gjervik as its new CEO, effective September 1, 2024.Gjervik will assume the position from Ørjan Svanevik, who has served as interim CEO following the departure of Hans Aasnæs earlier this year. Svanevik will maintain his role as a company board member.Gjervik comes from the position as Head of North Atlantic and has served in several management positions across the Western Bulk global network and offices…

Between January and April 2024, China’s electricity generation from renewables surged 12% year on year, significantly outpacing the 6% growth in generation from fossil fuels. While steam coal shipments to China rose 29% year on year, they are starting to feel the pressure from stronger renewables. Between March and April, the shipments fell 7% as electricity generation from fossil fuels only rose 1%,” said Filipe Gouveia, Shipping Analyst at BIMCO.So far in 2024, electricity generated from renewables in China accounted for 25% of the country’s electricity production.

The evolving environmental, social and governance (ESG) agenda is a roadmap for thriving amidst challenges and securing sustainable success, says The International Association of Dry Cargo Shipowners (INTERCARGO) on publishing its first ESG Review.Kostas Gkonis, INTERCARGO Secretary General advised that a forward-looking attitude is certainly required when addressing key aspects shaping the future of maritime operations and the dry bulk shipping sector more particularly. “Dry bulk shipping should embrace the ESG agenda as a catalyst for innovation…

BIMCO has released its Dry Bulk Shipping Market Overview & Outlook for April 2024, predicting that the supply/demand balance should strengthen in 2024, but weaken in 2025.This would be the result of ships returning to the Red Sea and Panama Canal, shortening sailing distances.Supply is forecast to grow 2.5% in 2024 and 2.0% in 2025. Growth is slowing due to lower deliveries, reports, Niels Rasmussen, BIMCO’s Chief Shipping Analyst.The fleet is expected to grow 4.9% between end 2023 and end 2025, the slowest it has grown since 2016. Ship recycling is expected to stay low.

Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange.Petros Pappas…

The International Association of Dry Cargo Shipowners (INTERCARGO) and RightShip have launched the Dry Bulk Centre of Excellence (DBCE), an independent, not-for-profit industry organisation dedicated to the administration of the Dry Bulk Management Standard (DryBMS) framework.DryBMS was developed by INTERCARGO and RightShip, with input from experts and stakeholders across the sector, as an industry tool to raise standards and best practices across safety, security, environmental performance, and social welfare in the dry shipping sector.

Dry bulk shipping company Pacific Basin has decided to apply a sustainable graphene-based propeller coating XGIT-PROP, developed by Canadian company GIT Coatings, across its entire fleet.Following successful application and observing positive results on one of its Supramax dry bulk vessels, Pacific Basin has started the rollout of XGIT-PROP across 40 vessels scheduled for dry dock maintenance in 2024. This decarbonisation initiative marks the largest adoption of graphene-based propeller coating in the dry bulk segment.Sanjay Relan…

Angela Chao, chair and CEO of the Foremost Group, has died in a car accident, the New York-headquartered dry bulk shipping company announced on Monday.Angela Chao was an experienced and well-respected shipping executive, having worked her way up through several leadership positions at the company founder by her father, Dr. James S.C. Chao, with her mother, the late Ruth Mulan Chu Chao, in 1964.Before joining Foremost Group in 1996, Angela Chao worked in the mergers and acquisitions department of Smith Barney…

Cadeler and Eneti have officially completed their merger, creating a leading offshore wind installation company.The New York- and Oslo-listed group will be named Cadeler and be headquartered in Copenhagen, Denmark, with offices across the world in Denmark, U.K., U.S., Taiwan, and Japan.Mikkel Gleerup, CEO of Cadeler, said, “This marks a historic moment for Cadeler and the entire offshore wind industry. We offer our partners and clients access to the strongest and most skilled team and the industry's largest, most flexible, most diverse, and modern fleet of windfarm installation vessels.

Dry bulk shipping companies Star Bulk Carriers and Eagle Bulk Shipping have reached a deal to merge in a $2.1 billion all-stock deal.The terms of the definitive agreement have received unanimous approval from the boards of directors of both New York-listed ocean carriers, and the companes expect the deal to close in the first half of 2024 following approvals from regulators and Eagle shareholder.Eagle shareholders will receive 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned.

Recent hostilities in the Red Sea have thrown global shippers of vital goods for a loop - but it is hardly the only issue that big carriers are facing as 2024 kicks off.Giants like Maersk say the industry, which handles 90% of global trade, faces the possibility of significant disruptions, from ongoing wars to droughts affecting key routes like the Panama Canal. Complex vessel schedules are likely to be knocked out of sync for giant container ships, fuel tankers and other commodity haulers throughout the year.That will increase delays and raise costs for retailers like Walmart…

Greek dry bulk shipping company Meadway Shipping announced it will rebrand as Drydel Shipping."This rebranding is designed to set us apart in the marketplace and eliminate any confusion due to similar company names," the company said in a statement.The name change will take hold on February 19 for in each of the company's units, including Meadway Shipping and Trading, Meadway Shipping Singapore, Meadway Shipping DMCC and Meadway Maritime Chartering.Meadway's ownership, team or operations will continue unaffected with all existing contracts and agreements remaining in place.

Oslo-headquartered dry bulk shipping company Golden Ocean Group announced its board has appointed Lars-Christian Svensen as CEO, effective January 1, 2024.Svensen had been serving as interim CEO following the resignation of the company's previous CEO, Ulrik Andersen, in June 2023.Svensen joined Golden Ocean as chief commercial officer in December 2020 and was previously senior vice president in Norway and president of U.S. trading activities in Seattle for Western Bulk. Before that, he was a downstream analyst for Petredec and a tanker broker for Cmarine Services PTE Ltd. in Singapore.