Charter rates have bottomed out
The charter rates for multipurpose vessels have bottomed out. Toepfer’s Multipurpose Shipping Index for July shows the rates bouncing back a notch to 6,391 dollars per day for a 12,500 dwt geared vessel. Read more
Coronavirus likely to spur decommissioning frenzy
With few profitable investment opportunities left as a result of the coronavirus, oil companies will likely increase their spending on decommissioning contracts. Global projects through 2024 could reach a value of 42 billion dollars, say...Read more
Media: Zeamarine is disposing of vessels
Zeamarine is reportedly disposing of vessels to deal with its financial losses. The fast-growing shipping company last month announced that it has hired a restructuring specialist to take over the management of the company and...Read more