dry bulk sector

Revised Charter for GENCON 2022

Gencon-Clause-9-diagram-1-(1)
Credit: Containership_Unsplash

A West Pandi news source highlights about the new GENCON 2022 charterparty.

BIMCO’s GENCON charter

BIMCO’s GENCON charter was first developed in 1922. It has been considered BIMCO’s flagship contract and it is the most widely used voyage charter party in the dry bulk sector.

The last revision was published in 1994. That revision was, to a large extent, triggered by some significant English court cases that cast doubt on the understanding and intention behind important...

https://mfame.guru/revised-charter-for-gencon-2022/

These Maritime Giants Jointly Announce The Expiration Of Their Offering Period

Credit: Timelab Pro/Unsplash

Taylor Maritime Investments Limited (LON: TMI / TMIP) (“TMI”), an internally managed investment company specializing in the acquisition and chartering of vessels in the handysize and supramax bulk carrier segments of the global shipping sector, and Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or the “Company”), a global provider of maritime transportation services in the dry bulk sector, today jointly announced the expiration of the...

https://mfame.guru/these-maritime-giants-jointly-announce-the-expiration-of-their-subsequent-offering-period/

Dry Bulk Sector Hit By “Vaccination Lottery”

According to a media release published by INTERCARGO, INTERCARGO, the organisation representing the world’s quality dry bulk shipowners has lashed out at the “vaccination lottery” facing seafarers, something that could hit the sector hard.

Vaccination Lottery

Once again seafarers are falling victim to the lack of focus and joined up thinking from leaders of governments and the maritime industry, which has become apparent during the current on-going crew change crisis. The vaccination lottery...

https://mfame.guru/dry-bulk-sector-hit-by-vaccination-lottery/

Dry Bulk Market To Witness ‘Perfect Rainbow’ Amid Healthy Outlook

  • US-based dry bulk owner is bullish on the sector this year, and is even more so for 2022 due to a continuing shrinking fleet.
  • The capsize rates should bounce back by April.
  • The market was hit by supply issues rather than any demand concerns.

GENCO, a US-listed bulker owner, is positive on freight rates for both this and next year, reports Lloyd’s List.

A perfect rainbow

Genco’s chief executive says demand for coal, grains and minor bulks, has kept rates buoyant for the smaller sizes. But,...

https://mfame.guru/dry-bulk-market-to-witness-perfect-rainbow-amid-healthy-outlook/

Yang Ming Witnesses Profit Despite Reduction in Container Liftings

  • Yang Ming contributed a profit of $18.6m despite a 15% reduction in container liftings.
  • The profitability was thwarted by a $21m loss in its dry bulk sector.
  • It brought a consolidated net loss of $2.25m in the quarter.
  • Yang Ming turnover declined by 12%, compared with H1 19, to $2.2bn.
  • Its container volumes were down 10% at 2.38m teu.
  • Net losses for the period were $29.5m, a $30.5m deficit in its troubled bulk business.

According to an article published in The Loadstar, Yang Ming’s box...

https://mfame.guru/yang-ming-witnesses-profit-despite-reduction-in-container-liftings/