ResInvest Group and Myrtle Marine Corp have entered into a strategic joint venture, forming a 50/50 partnership to invest in Mira Bulk. Mira Bulk will focus on marketing Myrtle Marine’s vessels and servicing the freight needs of EP Resources. “With a strong presence in both geared and gearless...
Dry Cargo
Global shipping ‘stifled’ by Trump’s tariffs
Shipping stocks remain under severe pressure today as the world comes to terms with the immensity of Wednesday’s tariff announcements from US president Donald Trump. The average US tariff rate has now been set at just under 25%, levels not seen since the 1930s and the days of the Great Depression....
https://splash247.com/global-shipping-stifled-by-trumps-tariffs/
Nova Marine Carriers forms shipping venture with steelmaker Marcegaglia
Italian-Swiss dry bulk group Nova Marine Carriers has established a joint venture with Marcegaglia for shipments of raw materials to the manufacturing sites of the Italian steelmaker. The jv called NovaMar Logistic will take over the management of the 2012-built open hatch 26,300 dwt handy bulker...
https://splash247.com/nova-marine-carriers-forms-shipping-venture-with-steelmaker-marcegaglia/
Trump targets Russian interests moving stolen Ukrainian grain to fund the Houthis
The Trump administration has targeted Russian interests over grain theft from Ukraine used to support funding for the Houthis in Yemen. The US Office of Foreign Assets Control (OFAC) yesterday added additional persons and companies to its sanction list as these were identified as entities...
Trump ignites global trade war, major economies vow retaliation
US president Donald Trump has slapped additional tariffs of 34% on imports from China, also hitting emerging manufacturing powerhouses like Vietnam and Cambodia hard, while targeting European Union imports with 20% tariffs, and adding a baseline of 10% on most goods imported to the US. As markets...
https://splash247.com/trump-ignites-global-trade-war-major-economies-vow-retaliation/
U-Ming orders capsize brace in China
Taiwanese owner and operator U-Ming Marine Transport is expanding its fleet with a brace of capsize bulker newbuilds in China. The subsidiary of the Far Eastern Group has signed up for 180,000 dwt vessels at Qingdao Beihai Shipbuilding, with delivery expected in 2028. U-Ming said it is paying...
Pankaj Khanna plots expansion as he rings Nasdaq closing bell
“Everything is on the table,” commented a pumped-up Pankaj Khanna in conversation with Splash yesterday on expansion plans following his ringing of the closing bell at the Nasdaq in New York, sealing long-held dreams to get his company listed. The CEO of Heidmar Maritime Holdings Corp merged with...
https://splash247.com/pankaj-khanna-plots-expansion-as-he-rings-nasdaq-closing-bell/
Geneva Dry Dialogues: Seaber
The tech space in dry bulk is crowded, concedes Sebastian Sjöberg, the CEO and co-founder of Seaber, a predictive AI platform providing data-driven decision support for scheduling and chartering optimisation. It’s a point evidenced by the fact that more than a third of the 58 sponsors of this...
Trump’s ‘Liberation Day’ arrives
Donald Trump is expected to announce sweeping tariffs in a statement at the White House Rose Garden at 16:00 EST this afternoon, branding today as ‘Liberation Day’ in the latest economic shock to hit global seaborne trades in the opening months of his return to power. The scope and scale of the...
Winning buys its first cape of the year
Vintage cape sales are dominating S&P headlines. One Chinese company stands out in the segment: China’s Winning Shipping, the world’s largest bauxite shipping company. Sources tell Splash that the active outfit is currently in the market for more tonnage and has just purchased the 2007...
https://splash247.com/winning-buys-its-first-cape-of-the-year/