Heavy lifters face booming [Shipping]
Nowadays the heavy cargo shipment seems as a big cake. As a result, the heavy lifter becomes more and more popular due to competitive price and convenience. As global resources exploitation speeds up, the demand for heavy cargos such as electric e...
2010-10-07 01:42:25
CSCL: Supported by domestic market [Shipping]
From 5,000TEU to current 500,000TEU, China Shipping Container Lines Company Limited (CSCL) took just 13 years. CSCL has become the world’s No.6 container liner. The flexible strategy is the key point for CSCL. As is introduced, 50% CSCL’s flee...
2010-10-07 01:41:33
DryShips drillship deal extended [Offshore]
DryShips has landed an extended contract for one of its drillship newbuildings worth nearly $30m in extra revenue. Nasdaq-listed DryShips says 60 days have been added to the landmark West African charter revealed last week. A US contractor ha...
2010-10-06 08:10:33
Russian yard to cut 500 jobs [General]
Onega Shipyard CJSC (Petrozavodsk, Russia’s Karelia) plans to cut more than 500 due to financial crises of the enterprise, PortNews IAA reports citing a source in the company management. As the Center for Political and Social Research of the Republ...
2010-10-06 08:05:54
Bharati expects double orderbook [Shipbuilding]
Bharati Shipyard is expecting to book INR 10bn ($223.48m) of new orders over the next 12 months. The Indian company said new business would come from the offshore and defence sectors. "At the moment, we have sufficient orders for the next one...
2010-10-06 08:03:50
Chinese-built new tanker breakdown [General]
A 2010-built tanker suffered an engine breakdown and needed a tow off France. French authorities received a call from the 8,800-dwt chemical carrier Pyxis Beta (built 2010) on Saturday 50 nautical miles off Belle-Ile. The vessel, built in China a...
2010-10-06 08:01:49
Boxship lay-up to increase [Shipping]
Laid-up containership capacity will increase to 5% as the global recovery slows down, says Lazard Capital markets. Post-panamax vessels are expected to see the largest increase in idle numbers, according to analyst Urs Dur. In a note to clients h...
2010-10-06 07:59:24
Great Offshore renewing fleet [Offshore]
Indian shipowner Great Offshore is looking to raise up to $200m to replace ageing ships. The offshore vessel player could sell more shares or issue convertible bonds, according to PC Kapoor, its executive director and also managing director of it...
2010-10-06 07:57:13
Tanker rate forecasts downgraded [Shipping]
RS Platou Markets has cut its rating on three tanker titans and chopped its VLCC rate estimates following a difficult time for the market. It has downgraded Frontline, Euronav and OSG from buy to neutral, according to a report from analysts Dag K...
2010-10-06 07:54:05
India sells 10% in SCI [Finance]
The Indian government is about to sell 10% of its stake in state-controlled Shipping Corp of India (SCI). Prime Minister Manmohan Singh's cabinet said Tuesday that authorities expect the sale to generate roughly INR 13bn ($292m), according to Reu...
2010-10-06 07:52:12
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