Charter rates bounce back a little
The charter rates for multipurpose vessels have bounced back a little, shows Toepfer Multipurpose Shipping Index. Rates increased slightly in August to USD 6,492 per day for a 12,500 dwt geared vessel.Read more
Wilson CFO: “There should be fewer, bigger players”
The European shortsea sector has been struggling for over a decade. “Consolidation is much needed, says Wilson Shipping’s CFO Stig Vangen. “There should be fewer, bigger players because the options are running out. And it...Read moreCharter 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 moreDecline in charter rates starts to slow
Average charter rates kept falling in the past month but the decline has significantly slowed in pace. In June, the average day rate for a 12,500 dwt multipurpose vessel fell by 60 dollars compared to...Read more
Wagenborg’s second EasyMax vessel is taking shape
PRESS RELEASE – Following the installation of the bow in March, Wagenborg has now installed the bridge deck of its second EasyMax multipurpose vessel. The EasyMax2 is being built at the Royal Niestern Sander Shipyard...Read moreBBC Chartering takes delivery of first newbuild vessel
BBC Chartering has taken delivery of the MV BBC St. Petersburg, the first of six new F500 multipurpose vessels to join the company’s fleet. The vessel set sail on May 1st and is currently on...Read more
“Project cargo demand stays positive if virus contained by Q4”
Drewry expects demand growth for breakbulk and project cargo to stay positive if the coronavirus is contained by the fourth quarter of 2020. “We expect demand for this year to be on par with 2019...Read more
Demand growth for multipurpose shipping wiped out by coronavirus
There’s little chance left that multipurpose and heavy-lift vessels will see any demand growth this year following the outbreak of the coronavirus. “Any anticipated recovery will not be sufficient to offset contractions of the first...Read more
Zeamarine closes offices in Denmark
Zeamarine is closing its operations in Denmark. The Danish subsidiary has filed for bankruptcy resulting in the closure of two offices and 23 employees being sent home, confirms local liquidator Hafnia Law. The German breakbulk carrier...Read more
Charter rates for multipurpose vessels remain stable so far
Despite the coronavirus, a very low Baltic Dry Index and problems at Zeamarine, charter rates for multipurpose and heavy-lift vessels so far seem to remain stable, according to Toepfer’s Multipurpose Shipping Index. Toepfer’s Multipurpose Index measures...Read more
Zeamarine officially insolvent as restructuring continues
The German booking and operation offices Zeamarine Bremen, Zeamarine Germany and Zeamarine Chartering have come under court supervision while the restructuring of the Bremen-based MPV-operator continues, meaning the company is officially insolvent. In the first official...Read more
Coronavirus likely to hit multipurpose shipping hard too
Amidst the chaos and uncertainty, analysts find it difficult to estimate the exact impact of the coronavirus on the multipurpose and heavy-lift shipping industry but certain is that key markets and competing sectors are heavily...Read more
Intermarine brand revived as Zeamarine spins off US business
Intermarine has been resurrected as an independent shipping company as Zeamarine is spinning off its Americas business as part of the restructuring process announced in December. The company will be managed by Richard Seeg, who...Read moreZeamarine rumoured to offload at least 15 vessels
Zeamarine is rumoured to be offloading at least 15 vessels as part of the business restructuring announced last month. That corresponds to a quarter of its current 67-vessel fleet. The vessels will likely join the...Read moreMedia: 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
Drewry expects double-digit growth in charter rates for larger ships
The outlook for the multipurpose shipping industry is brightening. Despite the rising geopolitical risk and economic uncertainty, Drewry forecasts that average earnings for breakbulk and heavy-lift shipping companies will rise 6% in 2020 and continue...Read moreZeamarine in “period of re-establishment”
Zeamarine has responded to media reports following a managerial change at the company which sees insolvency expert Sven Lundehn take the position as chair of the board. Lundehn has been called in to oversee “a...Read moreZeamarine in serious trouble, calls in restructuring specialist
Zeamarine has gotten into severe financial problems and is rumoured to be losing millions. The company has hired a restructuring specialist to replace co-founder and managing partner Hendrik Jan Többe as chair of the board. Majority...Read more