dry bulk

Kenan Advantage Group has acquired Mobile, Alabama-based Evergreen Transport for an undisclosed sum.

Monthly canal transits are now much lower than they were in 2015, the year before the Neopanamax locks went into operation.

Tanker stocks rose as expected in 2023, container shipping shares surprised to the upside, and dry bulk stocks lagged the pack.

Panama’s drought initially affected transits through the smaller locks. The pain has now spread to the larger Neopanamax locks.

As the Panama Canal scales back on reservation slots, more ships without reservations wait longer to get through.

The era of rapid Chinese growth and large-scale government intervention is over, says China Beige Book CEO Leland Miller.

U.S. agribulk exports to Asia are taking the longer route via the Suez Canal due to Panama transit restrictions.

Have shipping stocks been a good bet? Here’s a look at their performance year to date and versus pre-COVID.

The global coal trade is thriving, with dry bulk ships busy carrying the loads. As the West consumes less coal, Asia buys even more.

The war has stoked fears of global shortfalls of wheat, corn and fertilizers, but the flexibility of shipping trades has limited the risk.

The Baltic Dry Index has fallen 91% since October 2021 to one of its lowest levels ever, yet shipowners remain confident.

Fallout from the Ukraine-Russia war and concerns over power supply in Europe and Asia support demand for seaborne coal.

Cargo vessels allegedly are meeting at sea to transport stolen Ukrainian grain to Turkey and Syria.

Container shipping stocks are back to pre-COVID levels whereas many tanker and bulker stocks are down by double-digits year-to-date.

Rand Logistics will purchase the American Steamship Company for $260 million.

Dry bulk ocean carrier Jinhui Shipping of Hong Kong and Oslo has drifted into the red according to its third quarter results. Its nine-month results indicate the company may generate a loss this year.

Brazil’s Vale has cut its iron-ore outlook for the first quarter, but revealed higher-than-expected projections for full-year 2020 and 2021.

Unsurprisingly, listed bulker owners insist fourth-quarter Capesize rate pressure will pass.

Fortune has taken a decidedly downward trajectory for Indonesia-focused dry bulk ocean carrier Seroja, which saw a dramatic decrease in profitability in the third quarter of 2019. But that won’t worry the company – it has just agreed to sell its entire business for $32 million.

Reduced estimate for Brazilian iron-ore exports compounds headwinds for dry bulk.