drybulk

223 Slavia Kristina Jumelet, Product Owner for Operational Efficiency Standards, Digital Container Shipping Association

Industry-standard in the container business

Slavia Kristina Jumelet is a Product Owner for Operational Efficiency Standards at the Digital Container Shipping Association (DCSA), a neutral, non-profit group founded by major ocean carriers to digitise and standardise container shipping. DCSA member carriers include MSC, Maersk, CMA CGM, Hapag-Lloyd, ONE, Evergreen, Yang Ming, HMM and ZIM.
Slavia Kristina has an extensive background in shipping, even though she started studying mathematics. She...

https://shippingpodcast.com/223-slavia-kristina-jumelet-product-owner-for-operational-efficiency-standards-digital-container-shipping-association/

Castor Maritime Inc. Announces Its $15.85m Purchase Deal

Castor Maritime Inc., announces the purchase of a 2010 Japan-built Kamsarmax dry bulk carrier for a price of $15.85 million, says a press release published on their website.

Purchase agreement

Castor Maritime Inc. (NASDAQ: CTRM), specializing in the ownership of dry bulk vessels, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to purchase a 2010 Japan-built Kamsarmax dry bulk carrier from an unaffiliated third-party for a purchase price of $15.85 million.

De...

https://mfame.guru/castor-maritime-inc-announces-its-15-85m-purchase-deal/

Capes Lose 10,000 A Day This Year With Mounting Losses

  • Capes ducked below $2,000 a day with losses mounting.
  • Average every cape trading has lost around $1.35m so far in 2020.
  • Freight rates must hit $15,300 per day for an average Capesize to break-even.
  • Capesize ships have lost $9,961 per day.
  • Some Capesize vessels are now aggressively pursuing transatlantic Panamax stems.
  • The cape order book is approximately 40% less than it was in February 2016.

According to an article published in Splash247 news and authored by Sam Chambers, Capes ducked below...

https://mfame.guru/capes-lose-10000-a-day-this-year-with-mounting-losses/

Increasing Number of VLOCs Phased Out Due To ‘No Operations’

  • The once attractive VLOCs are phased out due to safety concerns.
  • 43% of the VLOC fleet has been sent to the scrapyards.
  • 18% of the fleet is idled or damaged.
  • VLOCs were converted from single-hull VLCC towards the end of 2000 as an innovative result of the dry bulk supercycle.
  • The maintenance and repair costs are significantly higher than the younger tonnage.
  • Conversion from the tanker to dry bulker came at an estimated price of USD 12-15m.

According to an article published in BIMCO and...

http://mfame.guru/increasing-number-of-vlocs-phased-out-due-to-no-operations/

Ship Owners Cut Back on New Ship Acquisitions and Investments

  • The demand for new ship acquisitions is diminishing.
  • Shipowners are refraining from more investments.
  • Owners are adopting a more cautious approach to their investment strategies.
  • Dry bulk side witnessed a further plunge of activity during this past week.
  • Uncertainty in the global economy and the poor freight market diminished buying appetite.

According to an article published in Vanguard, demand for new ships’ acquisitions is diminishing by the day, as shipowners are refraining from more...

https://mfame.guru/ship-owners-cut-back-on-new-ship-acquisitions-and-investments/

What The Future Holds for The Drybulk Industry Amid Global Recession?

  • Rates for Capsizes are at the capacity of around 180,000 deadweight tons.
  • Prior to 2009, vast fortunes were made in dry bulk.
  • The largest cargo business in the world measured by volume.
  • The freight segment is measured with the most active derivatives market.
  • Capesize owners were predicted to profit from exhaust-gas scrubbers.
  • Global recession threatens steel demand, the driver of the seaborne iron-ore trade.
  • The collapse in oil prices erased the spread between high- and low-sulfur marine fuel.

https://mfame.guru/what-the-future-holds-for-the-drybulk-industry-amid-global-recession/

Spot Activity for Asia Pacific Panamax Drybulk Hits 2-year Low

  • The spot fixture activity in the Asia Pacific Panamax market for shipping dry bulk plunges to the lowest since 2018.
  • Busiest Panamax routes in the Asia Pacific witnessed a lull in the activity.
  • The average number of spot fixtures has dropped to just 1.5 deals a week.
  • There was a massive slide in demand for metallurgical coal, prices of key coking coal brands.
  • There is a growing demand to move grains from east coast South America into the Far East.

According to an article published in Platts,...

http://mfame.guru/spot-activity-for-asia-pacific-panamax-drybulk-hits-2-year-low/

Shock Loading of Painting Platform Causes Serious Injuries To Ship’s Crew

According to an official accident investigation report from the Australian Transport Safety Bureau (ATSB), a six-member team had been tasked with cleaning and painting the holds of a vessel were nearly killed.

Summary of events

On 11 January 2018, a team of six crewmembers was conducting cargo hold cleaning and painting under the supervision of the chief mate on board Berge Daisetsu. While working aloft, on a jury-rigged platform suspended from a cargo crane, the crane falling block and hook...

http://mfame.guru/shock-loading-of-painting-platform-causes-serious-injuries-to-ships-crew/

Star Bulk Carriers Ready For IMO 2020 Disruption

  • The companies Q2 earnings were severely affected by low dry bulk rates. The rates for Capesize were of approximately $8,500 per day, for the Panamax segment.
  • $9,100 and for Supramaxes were approx, $8,500 and the same rates currently stand at $30,437, $17,583, and $14,113, respectively.
  • SBLK plans to produce some impressive cash flows, which can be used to either continue repurchasing more shares, start distributing a dividend to shareholders or pay down debt.
  • Quarter 3 rates have been limited...

http://mfame.guru/star-bulk-carriers-ready-for-imo-2020-disruption/

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