ABS fleet hits record [General]
US classification society ABS achieved another record performance in fleet size during 2010, reported Chairman Robert D. Somerville at recent annual meeting. An eight percent increase in gross tonnage from year-end 2009 resulted in the ABS-fleet ...
2011-04-13 08:08:32
Bangladeshi buy 24 scrap ships [General]
The Department of Shipping has so far permitted importers to purchase 24 old ships following a High Court (HC) verdict that ended difficulties and embargo the industry faced for nearly one year. In the verdict, the official copy of which was issue...
2011-04-13 08:03:58
UASC takes first 13,000TEU [Shipping]
The first of a series of nine 13,500-teu containerships ordered at the peak of the market has been delivered to United Arab Shipping Co built by South Korea's Samsung Heavy Industries. The $1.5bn contract for nine ships was signed in June 2008. Pe...
2011-04-13 07:58:59
Wan Hai makes profit [Finance]
Taiwan's Wan Hai Lines has erased 2009 losses as its revenue recovered last year. The company said it made TWD 5.44bn ($188m) on a net basis in 2010, against a deficit of TWD 1.63bn the year before. Revenue improved to TWD 64.71bn, against TWD 47...
2011-04-13 07:54:19
Vale wins $3bn bank boost [Finance]
Brazilian mining giant Vale has secured a $3bn revolving credit facility in a bid to boost short term liquidity. The Sao Paulo-listed dry bulk player says the transaction was structured in such a way that some of its affiliates can dip into the p...
2011-04-13 07:50:51
Cape rate forecasts cut [Shipping]
RS Platou Markets has cut its capesize rate estimates. Dag Kilen and Frode Morkedal, analysts at RS Platou, say high iron ore and coal prices are squeezing steel mill margins, meaning their forecast for demand growth of 10% this year may not be m...
2011-04-13 07:43:09
Danish orderbook at $12bn [Shipbuilding]
Danish shipowners have an orderbook of about 211 vessels worth about $11.8bn, according to figures released by the country’s shipowners’ association. The order backlog includes the ten 18,000-teu vessels ordered by Maersk Line last month for $...
2011-04-13 07:35:53
New orders fall, S&P deals rise [Shipping]
Newbuilding orders appear to be on a steadily declining road after more than one year of investment frenzy. Should this trend keep growing, it could help alleviate the oversupply concerns for most ship types and market segments in the following years...
2011-04-13 07:30:19
CSIC plans $1.9bn private placement [Finance]
China Shipbuilding Industry Co Ltd plans to raise up to 12.5 billion yuan ($1.9 billion) by selling new shares to a select group of investors, the company said on Tuesday. China Shipbuilding will issue up to 1 billion yuan-denominated A-shares in...
2011-04-13 07:25:17
Golar eyes more LNG carriers [Offshore]
John Fredriksen’s Golar LNG has come clean about a newbuilding order at Samsung Heavy Industries in a move which could be just the tip of the iceberg for the Norwegian tycoon in the sector. Oslo-listed Golar has penned four 160,000-cbm vessels ...
2011-04-13 07:22:12
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