Western Bulk decides not to declare Q1 dividend
(Posted on 13/04/26)
A statement on the Western Bulk website reads, ”The conflict in the Middle East and the closure of the Strait of Hormuz have negatively impacted operations and weighed on results. Elevated premiums on physical bunkers versus financial swaps have increased fuel costs, while existing cargo and tonnage commitments involving the Persian Gulf are expected to continue affecting performance in the first half of 2026. Western Bulk is exposed to continued operational uncertainty on three vessels awaiting transit through the Strait of Hormuz.
During the quarter, the company also utilized the seasonally weaker market to position capacity for improved profitability in the second half of the year.
The dry bulk market performed better than initially expected in Q1 2026, supported by a particularly strong February. Strength was primarily driven by solid grain flows, with exports from both the U.S. and East Coast South America (ECSA) remaining firm and supporting demand in the Atlantic basin. Momentum softened towards the end of the quarter, with March weakening as geopolitical tensions escalated, contributing to higher oil prices, increased global uncertainty, and softer freight rates.
Looking ahead, the company expects that the positioning undertaken during the quarter, will support improved performance when the situation in the Strait of Hormuz has improved.”
Western Bulk are a leading dry bulk shipping company with a commercially controlled fleet of over 100 - 150 vessels.
Latest News
Steel cutting marks start of construction of first Green Handy
(Posted on 07/06/26)The construction of the first methanol-powered Green Handy vessel has commenced at China Merchants Jinling... Read more
Aging fleet and growing safety deficiencies behind rise in costly PSD detentions
(Posted on 07/06/26)Survitec is warning shipowners and operators that port state control (PSC) detentions are becoming an... Read more
Marshall Islands Registry recognises milestones and achievements at Posidonia
(Posted on 07/06/26)The Republic of the Marshall Islands (RMI) Registry recognized several milestones and achievements during... Read more
TT Club warns ports against 'knee-jerk' responses to ships in distress
(Posted on 07/06/26)TT Club, the leading global transport and logistics insurer, highlights the critical complexities ports... Read more
Posidonia 2026 takes centre stage amid global freedom of navigation challenges
(Posted on 29/05/26)From insurance and risk management to energy transition, digitalisation and maritime security, the Posidonia... Read more
First maritime compliance & prevention-focused organisation, PaS, joins DBCE
(Posted on 29/05/26)Prevention at Sea (PaS), a leading maritime compliance, auditing, and digital solutions provider, has... Read more
NorthStandard reports strong results and strategic momentum
(Posted on 29/05/26)NorthStandard has reported strong financial results, continued strategic progress and enhanced support... Read more
Latest guidance for vessel transit through Strait of Hormuz
(Posted on 25/05/26)Hundreds of vessels remain unable to transit the Strait of Hormuz and, in the event of a return to more... Read more
The Bahamas regains QUALSHIP 21 eligibility
(Posted on 25/05/26)The Bahamas has regained eligibility for the United States Coast Guard’s QUALSHIP 21 programme... Read more
First dedicated STS standard for dry bulk released by INTERCARGO
(Posted on 22/05/26)Ship to ship (STS) transfers are an established part of dry bulk operations, and they are growing. As... Read more
