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COSCO Shipping has launched a fresh newbuilding push which will see 14 ships constructed at domestic yards. COSCO Shipping Development, the financing arm of China’s state-controlled shipping giant, has commissioned a newbuilding package, including 10 newcastlemax bulk carriers and four asphalt carriers. Four 210,000 dwt newbuilds have been booked at the leading builder in the …
https://splash247.com/cosco-rolls-out-14%e2%80%91vessel-shipbuilding-push-at-domestic-yards/
https://splash247.com/cosco-rolls-out-14%e2%80%91vessel-shipbuilding-push-at-domestic-yards/St. Johns Ship Building, a Florida-based Jones Act facility owned by Americraft Marine, has announced the successful delivery of the Atlantic Endurance, the second of two Chartwell Ambitious-Class Crew Transfer Vessels (CTVs) ordered by Atlantic Wind Transfers.
https://www.marinelink.com/news/st-johns-ship-building-delivers-second-528490
https://www.marinelink.com/news/st-johns-ship-building-delivers-second-528490The Korea Institute of Machinery and Materials (KIMM), under the National Research Council of Science & Technology (NST), signed a Memorandum of Understanding (MoU) with Natural Resources Canada (NRC) to establish a new platform for international…
https://www.marinelink.com/news/kimm-natural-resources-canada-sign-mou-528492
https://www.marinelink.com/news/kimm-natural-resources-canada-sign-mou-528492Prices of iron ore futures retreated on Wednesday as hopes of more stimulus from top consumer China faded, erasing earlier gains that were underpinned by prospects of a further extension of a tariff truce between the U.S. and the Asian country. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! ended ...
https://www.hellenicshippingnews.com/iron-ore-retreats-as-hopes-of-china-stimulus-recede/
https://www.hellenicshippingnews.com/iron-ore-retreats-as-hopes-of-china-stimulus-recede/Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported net income of $4.5 million and net income attributable to common stockholders of $3.1 million for the second quarter of 2025. This compares to a net loss of $2.8 million and a net loss attributable ...
https://www.hellenicshippingnews.com/diana-shipping-inc-reports-second-quarter-net-income-of-4-5-million/The Baltic Exchange’s main sea freight index, which measures rates for ships carrying dry bulk commodities, fell for a fourth straight session to a two-week low on Wednesday as demand in all vessel segments weakened. The main index, which tracks rates for capesize, panamax and supramax shipping vessels, fell 114 points, or 5.4%, to 1,995 ...
https://www.hellenicshippingnews.com/baltic-index-extends-falls-to-hit-two-week-low/
https://www.hellenicshippingnews.com/baltic-index-extends-falls-to-hit-two-week-low/New feeder entrant Greta Shipping is launching three dedicated services connecting the Middle East and the Indian Subcontinent. The company, a Singapore-registered subsidiary wholly owned by Chinese conglomerate Xiamen C&D, will officially launch its operations in mid-August, according to Alphaliner. Greta Shipping’s JKX service will link the Middle East transhipment hub of Jebel Ali with …
https://splash247.com/greta-shipping-enters-market-with-three-middle-east-india-subcontinent-loops/
https://splash247.com/greta-shipping-enters-market-with-three-middle-east-india-subcontinent-loops/Union Pacific has struck a deal to acquire rival railroad Norfolk Southern in a stock-and-cash transaction valued at $85bn, in a move that would form the first coast-to-coast freight rail network in the US. The combined operator would span more than 50,000 route miles across 43 states and link close to 100 ports, giving it …
https://splash247.com/us-rail-giants-in-85bn-coast-to-coast-tie-up/
https://splash247.com/us-rail-giants-in-85bn-coast-to-coast-tie-up/French shipping and logistics giant CMA CGM has confirmed it is eyeing the potential acquisition of terminals from CK Hutchison, after exclusive talks between the Hong Kong conglomerate and a consortium led by BlackRock expired over the weekend. The preliminary deal, first announced in March, involved the sale of the majority of Hutchison’s global port …
https://splash247.com/cma-cgm-eyes-hutchison-ports-as-msc-deal-falters/
https://splash247.com/cma-cgm-eyes-hutchison-ports-as-msc-deal-falters/Cyprus-based bulker and boxship owner Castor Maritime has completed a sale and leaseback transaction with a Japanese counterparty for one of its kamsarmaxes. The Nasdaq-listed company has struck a deal for the 2011-built Magic Thunder, with the 83,400 dwt vessel bringing in about $14.6m. The vesssel will remain under Castor’s commercial control under a bareboat …
https://splash247.com/castor-seals-14-6m-leaseback-for-kamsarmax-bulker/
https://splash247.com/castor-seals-14-6m-leaseback-for-kamsarmax-bulker/