ViganPort of South LouisianaTOC Europe 2023Port of StocktonTBA GroupCimbria
  • TBA Group
  • Port of Stockton
  • TOC Europe 2023
  • Cimbria
  • Van Aalst
  • Bühler GmbH

Lauritzen optimistic on strength of dry cargo market

(Posted on 28/08/18)

“During the second quarter of 2018, we continued to build our activity in the dry cargo period market by replacing expensive time-chartered tonnage with attractively priced vessels improving our competitive position. We remain optimistic in terms of further dry cargo market improvements despite uncertainties related to tariffs and trade friction. Earnings for our gas carriers were in line with expectations despite the still difficult market for our largest vessels”, said Lauritzen CEO Mads P. Zacho.

Highlights included options to extend time-charter periods were declared for five handysize bulk carriers and an additional handysize bulk carrier was taken on medium-term time-charter. Three loss making long-term time-chartered handysize bulk carriers were redelivered to owners.

In Q2, the average number of controlled bulk carriers were 79 compared to 83 in Q1 2018 and the average number of operated gas carriers reached 32, unchanged from Q1 2018.

The dry cargo handysize market experienced its normal weakening during Q2, however ending approximately 12% above the level one year ago. The market for small gas carriers also saw the usual seasonal weakening in Q2, however ending 1-3% above the levels recorded one year ago for larger semi-refrigerated and ethylene tonnage and about 50% higher for the smallest vessel segments.At period end, cash and cash equivalents amounted to USDm 39, unchanged compared to period end Q1 2018. Total assets amounted to USDm 478, down from USDm 504 at year-end 2017. Solvency ratio was 51%, compared 52% at year-end 2017.

Latest News

Groke brings new situation awareness expertise to One Sea

(Posted on 24/03/23)

One Sea has welcomeed Finnish start-up Groke Technologies as its new member, bringing additional expertise... Read more


ClassNK releases FAQs on EU-ETS for shipping

(Posted on 24/03/23)

ClassNK has released “FAQs on the EU-ETS for Shipping”, an overview and necessary preparation... Read more


New AXSMarine tool helps users visualize CO2 emissions and CII

(Posted on 20/03/23)

AXSMarine, a pioneer and market leader in the provision of advanced solutions for shipping professionals... Read more


Shipzero advances the decarbonization of logistics

(Posted on 20/03/23)

Shipzero is enabling transport and logistics companies to create transparency about their emissions... Read more


Isle of Man Ship Registry joins INTERCARGO

(Posted on 07/03/23)

The Isle of Man Ship Registry (IOMSR) has become an associate member of The International Association... Read more


More investment into crews’ health and nutrition says MCTC

(Posted on 07/03/23)

The wellbeing of crew members is becoming more important to shipping companies says leading catering... Read more


Strong demand and diversified vessel portfolio fuels strong Algoma performance

(Posted on 28/02/23)

Canada based Algoma Central Corporation has reported its results for the year ended 31 December, 2022... Read more


Ukrainian seafarers back, but many have suffered trauma

(Posted on 24/02/23)

Ukrainian seafarers have largely returned to international shipping thereby restoring balance in crew... Read more


Round Table prioritises seafarers at first in-person meeting since COVID

(Posted on 24/02/23)

The Chairs of the Round Table of International Shipping Associations met in Athens last week to renew... Read more


AXSMarine invests in Nextvoyage

(Posted on 21/02/23)

AXSMarine, a leading provider of SaaS shipping software and data for decision making in the chartering... Read more


Sailors SocietyBühler GmbHTelestackThe Wolfson Centre for Bulk Solids Handling Technology Van Aalst
  • Telestack
  • The Wolfson Centre for Bulk Solids Handling Technology

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping