Shipyard aid in Europe under review [Shipbuilding]
Shipbuilders in Europe face an anxious wait to see if the European Commission will abolish rules allowing aid for yards. Today the Commission has kicked off a public consultation exercise to see if the present rules introduced in 2004 will be all...
2010-10-05 08:03:06
Atlanship scraps oldie at $485/ldt [General]
Atlanship of Switzerland has taken advantage of premium prices on offer in India to dispose of its oldest vessel. It has sold the 11,092-dwt juice carrier Orange Star (built 1975) at $485 per ldt, cash buyer GMS says. This works out at $3.46m...
2010-10-05 07:59:25
Montenegro to buy new ro-paxes in Japan [General]
Montenegro Shipping Lines (MSL) of the Philippines is targeting eight new ship acquisitions this year. The ferry owner wants to serve more routes and has earmarked PHP 1bn ($22.84m) for buys. The ro-paxes will be sourced from Japan and will have ...
2010-10-05 07:55:21
Tanker rebound may be weak [Shipping]
Fearnley Fonds has cut its tanker rate forecasts amid fears any fourth quarter rally will be muted. Analysts Rikard Vabo and Lars Erich Nilsen also tip share prices in the sector to remain under pressure due to a lack of indicators suggesting a s...
2010-10-05 07:52:39
JES wins more bulkers [Shipbuilding]
Pitiousa Shipping of Greece has ordered a 95,000-dwt bulker at Singapore-listed JES International Holdings. The Georgios Fytousis-controlled owner will take delivery of the ship in 2012. No price was given. And JES said an unnamed Chinese owner h...
2010-10-05 07:49:15
Shipping loans recover [Finance]
Syndicated shipping loans lingered near historic lows in the third quarter, but fresh figures from London-based monitor Dealogic show that lending has hit a two-year high. Banks shelled out $16.169bn during the last quarter, more than three times...
2010-10-05 07:44:55
Rongsheng wins SCI VLCCs [Shipbuilding]
Shipping Corp of India (SCI) has reportedly selected Jiangsu Rongsheng Heavy Industries to build four VLCCs. The Chinese yard came in with the lowest bid at $106.7m per ship, giving a total of $426.8m, according to sources cited by the Livemint we...
2010-10-05 07:40:41
China new orders soar [Shipbuilding]
Chinese shipyards won the most monthly new orders in August since the Lehman Shock, totalling about 11.2m dwt, CANSI statistics show. The China Association of National Shipbuilding Industry (CANSI) said there were many tanker orders inked as well as...
2010-10-05 07:33:40
China funds Greek ships [Finance]
China offers $270m ship financing to three Greek shipowners who have ordered newbuildings at Chinese shipyards. The Export-Import Bank of China has sealed its first ship financing transactions with Greek shipowners in cooperation with DnB NOR Bank...
2010-10-05 07:08:46
Russia to build three icebreakers [Offshore]
Hong Kong media reported the area of Arctic Ocean was reduced to 1,800,000 square mile, which was the third smallest point since 1979. Russia intended to build three nuclear power icebreak ships, for Russian enterprises to exploit abundant resourc...
2010-10-05 01:44:37
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