Cardiff buys cape resale [Shipping]
George Economou appears to have kept his appetite for capesize newbuildings despite his public company cancelling a contract last week. Cardiff Marine, Economou’s private shipowning firm, has bought a 177,000-dwt resale at Shanghai Waigaoqiao Sh...
2009-06-10 07:55:00
Tankers needed: Stena Bulk-Asahi JV [Shipping]
Stena Bulk contends that the current good tanker buyers’ market is about to get even better as asset values drop further. Tanker newbuilding, second-hand and resale purchases as well as long-term charters are all on the cards as the Swedish owne...
2009-06-10 07:50:53
Encouraging signs for yards [Offshore]
Kleven Maritime’s Stale Rasmussen believes there are encouraging signs for shipyards after the sudden freeze in orders. The Norwegian offshore specialist’s managing director said that business could be picking up after grinding to a halt in th...
2009-06-10 07:46:54
Lauritzen conversion project financed [Finance]
KfW Ipex-Bank and BNP Paribas are providing a $130m loan for a J Lauritzen conversion project. The Danish owner's Lauritzen Tankers has tapped Hamburg's Blohm + Voss shipyard to convert the 15,375-gt ro-ro ferry Kraka (built 1985) into a 291-berth...
2009-06-10 07:42:21
HHIC eyeing new products other than boxship [Shipbuilding]
South Korean builder Hanjin Heavy Industries & Construction (HHIC) seems to be looking into a shift from a containership-centered production system.
2009-06-10 07:33:42
Deferred LNG cargoes returning [Offshore]
Demand for liquefied natural gas will continue to be hit by the global economic crisis, but some deferred cargoes are now returning, according to Petronas. Hassan Marican, chief executive of the Malaysian state oil and gas firm, said demand would ...
2009-06-10 07:28:06
Owners want to defer ultra-low sulphur deadline [General]
Shipping will be unable to operate under Brussel’s 2010 deadline for vessels to use fuel with only 0.1% sulphur content. As of January 1, 2010 ships in European Union ports will be required to use ultra-low sulphur fuel according to an EU direc...
2009-06-10 07:23:29
Navios let Navios Partners out of cape deal [General]
Angeliki Frangou’s Navios Maritime Holdings has let spin-off partnership Navios Partners out of a $130m acquisition deal for a capesize imminently scheduled from the Far East. Instead, the New York-listed Navios Partners has been given a 12-month p...
2009-06-10 07:18:58
EC lines up action plan to cut CO2 [General]
The European Commission has draft plans in development to reduce shipping carbon dioxide emissions unilaterally if the International Maritime Organization fails to agree an acceptable international strategy next month. While no clear parameters of wh...
2009-06-10 07:14:27
Boxship rates fall back to zero [Shipping]
Container lines have just four weeks to reverse the slide in Asia-Europe freight rates or risk going out of business. Desperate efforts are now under way to raise westbound rates from Asia after April’s modest success proved short lived and rat...
2009-06-10 07:11:17
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