He operates seven ships that carry dry bulk cargo iron ore, coal, rice, sugar around the world.
The shipper generates stable cash flow from the bulk of its fleet of 48 vessels, mostly dry bulk.
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In the heyday for dry bulk shippers, the index reached highs of more than 11, 000, but quickly fell when the credit crisis struck in 2008.
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The recent decline in the dry bulk index suggests that tighter emissions regulations on shipping vessel is unlikley to result in near-term cost distortions.
There are few industries more tied to global growth than dry bulk shipping, as these ships are responsible for carrying the materials required in economic expansion.
For years, analysts have warned of the impending oversupply in the dry bulk shipping markets as newbuilds were coming online faster than demand for raw materials was growing.
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The company owns and operates a fleet of 29 dry bulk carriers that transport a wide range of commodities, including coal, iron ore, grains, bauxite, phosphate, fertilizers and steel products.
Diana Shipping (NYSE: DSX): A leader in dry bulk shipping with a P-E of 6.59, an operating profit of near 50, and 373 million in cash, and a major beneficiary of the rising Chinese economy.
Kinder says he's looking for other pipeline partnerships to buy, and Kinder Morgan is expanding into terminals that handle coal and other dry bulk materials, hoping to capitalize on long-term trends such as the shift by electric utilities away from Appalachian coal toward cleaner- burning western coal.
Cardiff helped OceanFreight pick up its first dry-bulk vessels, helps manage that fleet and shares office space with OceanFreight.
The improvement in shipping rates is helping to bolster shares of Japan's biggest dry-bulk shipper Mitsui O.
The Baltic Freight Index, which tracks dry-bulk freight rates, was at its lowest in nearly a decade in August.
In the business of shipping dry-bulk cargoes, mostly iron ore, coal and grain, there is not even the hint of a silver lining to the cloud.
China's shipping industry has lobbied against such ships, fearing they may strengthen Vale's dominance on the dry-bulk market and China's Ministry of Transport has restricted their access to its ports.
Freight costs for dry cargo bulk commodities like grains, coal and steel have also jumped of late.
The Baltic Dry Index, a measure of shipping rates for bulk goods, has foundered.
Dry foods with unpoetic names like spelt, teff and millet have long inhabited the bulk bins at health-food stores.
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