GE delay to cancel orders [Shipping]
An attempt by India's Great Eastern Shipping (GE Shipping) to cancel more orders may be too late. The Mumbai-based owner announced in August a plan to cancel one tanker and one bulker to cut its investment risks. But GE Shipping boss Bharat Sheth ...
2009-11-09 05:15:03
700 ships to be scrapped this year [General]
Totaling over 700 ships are expected to be scrapped this year. October turned into another busy month for demolition sales with over 700 ships sent for torching so far in 2009, double last year's figure. All the main shipbreaking centers have s...
2009-11-09 05:13:18
China sets up incentive for shipbuilder [Finance]
The Chinese government is preparing to offer new financial incentives to help local shipbuilders tide over up to 300 order cancellations since the global economic crisis began. Under a new programme announced by China's Ministry of Transport, domesti...
2009-11-09 05:08:48
Wilh Wilhelmsen to scrap more PCTCs [Shipping]
Wilh. Wilhelmsen ASA will accelerate demolition of its car carriers. Since the fall of 2008 when finished vehicle marine traffic drastically decreased, operators centering on major operators in Japan implemented large-scale PCTC (pure car/truck c...
2009-11-09 05:05:23
Shanghai bags 57K bulker orders [Shipbuilding]
China government is backing up new order receipts. Chinese state-run shipyards are continuously bagging orders bound for emerging nations, capitalizing on ship finances offered by domestic financial institutes. According to market reports, Shangha...
2009-11-09 04:50:04
Korean overtaken by Chinese [Shipbuilding]
South Korean shipbuilders were outpaced by their Chinese rivals in the number of new orders received this year and order backlogs, according to a London-based market researcher Clarkson last Friday. Korean shipbuilders won a combined 1.64 million...
2009-11-08 09:15:39
Mitsui lays up 2nd LNG ship [Offshore]
A Japanese giant has decided to berth another newbuilding in South Korea. Japanese shipowner Mitsui OSK Lines (MOL) has decided to lay up a second LNG newbuilding at a South Korean shipyard. According to industry sources, MOL has formally taken d...
2009-11-08 02:28:58
Evergreen sells boxships for scrap [Shipping]
Evergreen Marine is delivering on its promise to scrap containerships by sending a further three of its oldest baby-panamaxes to the breakers in China. The 3,400-teu Ever Gaining (built 1987), Ever Guest and Ever Goods (both built 1986) have been ...
2009-11-08 01:58:34
Daewoo denies Aframax orders [Shipbuilding]
Daewoo Shipbuilding & Marine Engineering is denying reports that AP Moller-Maersk has signed up for aframax tankers at the shipyard. Sources say the Danish shipping giant recently booked two 114,000-dwt tankers at the Okpo shipyard for delivery i...
2009-11-08 01:16:50
MISC charters new panamax [General]
German KG (limited partnership) shipping-finance and management group Norddeutsche Vermoegen has found a charterer for its latest panamax newbuilding. The 4,600-teu Northern Priority (built 2009) has been taken by Malaysian operator MISC for services...
2009-11-08 00:21:17
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