Maersk CEO bashes rash orders [General]
Maersk boss Nils Andersen has criticised other lines that have ordered very large containerships without necessarily having the financial muscle or market share to support such investments, warning that they were potentially putting their businesses ...
2011-08-18 07:15:56
Cape BC rates to rebound [Shipping]
Soaring Chinese iron ore prices are helping boost capesize spot rates. Omar Nokta of Dahlman Rose notes Chinese iron ore has jumped to a year’s high of $186 per ton, while Australian and Brazilian spot prices are at $178 per ton. In a note t...
2011-08-18 07:10:57
Maersk LNG sale soon [Offshore]
AP Moller-Maersk expects to complete the sale of its LNG shipping arm shortly. CEO Nils Andersen claims there has been plenty of interest in the company, which was placed on the sales block earlier this year. He said: “The LNG market is exce...
2011-08-18 07:07:52
Maersk confident in 18,000TEU's [Shipping]
AP Moller-Maersk CEO Nils Andersen says a fall in boxship rates is an “overreaction” based on “modest overcapacity” and stresses the success of the company’s 20 18,000-teu vessels is not dependant on exceptional growth figures. Speaking...
2011-08-18 07:03:41
Hyundai scores more LNG carriers [Shipbuilding]
Greek shipowner George Prokopiou-controlled Dynagas has inked contracts for two more 155,000-cbm LNG carrier newbuildings after fixing a pair of ships ordered in May this year at Hyundai Heavy Industries of South Korea. The latest move includes ex...
2011-08-18 06:57:21
HMD, "Aggressive & Diversified" [Shipbuilding]
South Korea's Hyundai Mipo Dockyard is expected to improve profitability with aggressive sales. Researcher Kim Hong-Kyun from Dongbu Securities said, "Hyundai Mipo's revenue and operating margin for Q2 dropped 3.5% and 3% point each from the same ...
2011-08-18 06:28:42
Diamond S purchases 40 tankers [Shipping]
Diamond S Shipping (DSS), established by U.S. private equity fund, First Reserve Fund in 2007 with $300m of investment, has currently made a decision to purchase 40 vessels for the purpose of increasing the number of ships. Besides recent takeover...
2011-08-17 14:29:39
Capesize BC order claws back [General]
In 2011, worldwide newbuilding orders for capesize bulk carriers total about 30 vessels by now, however, it recently grows gradually. Most of foreign shipowners resumed placing new orders in haste, considering ship price hitting bottom. Howeve...
2011-08-17 11:57:39
MR tanker orders grow [Shipbuilding]
In 2011, about 30 MR product carriers were reported to have been ordered mainly to South Korea's shipyards. Despite a downward trend of current shipping market, shipowners appear to resume orders with bottomed ship price and operation of large oil...
2011-08-17 10:50:15
Profitability depends on offshore plant [Offshore]
South Korea's NICE Investors Service announced to maintain sovereign rating of Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering for 'AA-.' Under situation of decreasing profitability by lower ship price, booking orders for hi...
2011-08-17 10:06:14
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