Shipping
Japanese Big 3 turn to profits
On October 29th, Japanese shipping lines issued report on the first half of fiscal year in Tokyo. The shipping revenue was raised sharply due to more charges during hot season and electronic products consuming rising in Europe and America. It was eve...
2010-11-01 01:02:21
Global second hand ship sales booming
Global second hand ship sales market showed uptrend. According to statistics, the valuations of five-year-old Capesize, Panamax, and Handymax ships reached $56.25m, $39.30m and $31.67m. The transaction amount of second bulk carriers hit 52 units ...
2010-10-29 08:43:47
SITC to expand fleet
SITC International Holdings Company Limited, which is China’s No.3 container shipping line in terms of foreign trade, currently intended to collect funds worldwide, for fleet expansion. As is known, 45% of the funds would used to purchase 15 to ...
2010-10-29 07:53:42
Pacific Basin eyes newbuildings
Pacific Basin Shipping is in the hunt for newbuildings despite admitting to concerns over the record number of new bulkers ready to enter the market. Hong Kong-listed Pac Basin has bought nine bulkers since the end of 2009 but believes newbuildin...
2010-10-29 07:29:35
Precious Shipping newbuilds delayed
Precious Shipping (PSL) of Thailand has warned of inevitable delivery delays to a large number of bulkers on order at ABG Shipyard. The Bangkok-listed owner also saw its third-quarter profit slashed as revenues waned and it did not record any dis...
2010-10-28 08:11:14
VLCC faces loss
According to Norwegian Frontline statistics, at present the freight rate of its VLCC must reach $30,900 per day to avoid loss. Morgan Stanley estimated that the amount of tanker would rise by 13% while IEA announced that the demand for crude oil migh...
2010-10-28 06:55:11
Bulkers rising on strong Chinese demand
Overcapacitated or not, the dry bulk market keeps its positive momentum with the Baltic Dry Index (BDI) rising by 0.77% to 2,748 points on October 25th. Strong iron ore and thermal coal demand from Chinese buyers has been the main reason for this...
2010-10-27 07:28:50
Taizhou: Freight rises
Mr Sheng Guoping, who was a machinery manager of a fishing company in Taizhou China, was always feeling frustrated since financial crisis broke out due to oversupply and cargo shortage. But recently, the freight rate rose sharply. It seemed beyond hi...
2010-10-27 06:57:57
Handysize: 158 to quit, 201 to enter
German’s DVB Bank recently issued report in Hamburger that the demolition volume of Handysize ships was less than expectation. On the other hand, the recovery step was expected to slow down by the end of this year. As a result, the shipping line...
2010-10-27 06:57:07
Vale’s expansion in China fails
Brazilian Vale recently expressed in London that they had failed to set up iron ore distribution center in Qingdao China. Sources showed Chinese government became the obstacle. They would turn to Malaysia instead but the transport cost would be highe...
2010-10-27 06:56:21
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