Delivery delay hits Hosco VLCC [Shipping]
One of China's largest shipowners will have to wait to get its hands on a ship that it claims symbolizes a "prosperous and strong" China - because of a delay at the shipyard. State-owned Hebei Ocean Shipping Co (Hosco) was preparing to receive the...
2009-10-05 07:26:09
Demolition prices slacken [General]
Demolition prices have weakened slightly and the guessing game is on as to the market's next move, say brokers. The 53,000-dwt containership Faith I (built 1988), available for delivery in October in the Singapore/South China range, is said to hav...
2009-10-05 07:21:42
Bulgarian cancels handysize [Shipping]
Bulgarian owner Navibulgar has cancelled a contract for a handysize bulker at the domestic Varna shipyard. Industrial Holding Bulgaria (IHB), which controls Varna through its Bulyard subsidiary, said the deal for hull 459 was torn up on Thursday b...
2009-10-05 07:19:43
Maersk Line cuts further [General]
Maersk Line is seeking voluntary redundancy for 113 of its 560 UK containership officers. The Danish owner said Friday it was looking to cut the jobs “with regret” and added it was “due to the continuing global economic situation” Earli...
2009-10-05 07:17:32
Vale orders two ferries [Equipment]
As it rolled out the first of 51 vessels in its domestic newbuilding program, Vale says it has ordered two passenger ferries. The Brazilian miner says it booked the catamaran units at Arpoador Shipyard in Angra dos Reis state to transport employee...
2009-10-05 07:15:20
Seaspan newbuild financing all ready [Finance]
As Seaspan completes the second half of a $200m cash infusion, the company's chief executive said it has almost all the cash and financing it needs for its newbuilding program. "Cash retained from operations combined with secured committed financi...
2009-10-05 07:12:39
Namura delivers its first VLCC [Shipbuilding]
Japan’s Namura Shipbuilding has completed its first VLCC, the Atlantic Pioneer, and delivered it to Mitsui OSK Lines (MOL) on Oct. 1. With this, Namura realized its long-cherished dream to foray into the VLCC field since it established its Imari...
2009-10-05 07:05:14
Hapag-Lloyd wins state aid [Finance]
The German government has approved aid for struggling container line Hapag-Lloyd, foreign media reports. The steering group in charge of distributing money from the national bailout fund voted in favor of Hapag-Lloyd’s application for government...
2009-10-05 07:03:12
New tender expected [Finance]
After getting only two bids for privatization of Croatia's shipyards, the country's privatization fund will hold another one within three weeks, officials said Thursday. "The Croatian privatization fund will hold a new tender in the next two to th...
2009-10-05 07:00:43
Cosco amends newbuilding contract [General]
The Board of Directors of COSCO Corporation (Singapore) Limited wishes to announce that COSCO (Nantong) Shipyard, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group, has, following a request from an American buyer, ATP Oil & G...
2009-10-05 06:58:14
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