Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
Five new Capesize bulkers were purchased today including four currently under construction at Daehan Shipbuilding in South Korea, and a new build order for an additional Capesize vessel from Sungdong Shipbuilding & Marine Engineering. Total cost of the order was around $306 million according to an emailed statement.
In addition, Scorpio won charter contracts for seven of their ships with terms as follows:
With overcapacity being a major factor in the pain felt by the dry bulk industry in recent years, there are many in the industry such as Jay Goodgal who express great skepticism at the economic fundamentals behind further tonnage growth within the large dry bulk shipping sector.
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