Sasaki irritated by Eitzen’s premature move [General]
A Japanese shipbuilder has taken exception to a 'premature' cancellation announcement. Sasaki Shipbuilding is claiming Eitzen Chemical's announcement last week that it had cancelled five chemical-tanker newbuildings at the yard was premature. T...
2009-04-20 07:27:44
VLCCs face lay-up as rates plummet [Shipping]
VLCCs face being laid up after the market plunged to its lowest levels in 10 years. Rates have fallen to under $10,000 per day with some observers saying they expect owners to cease trading their ships in two weeks time, unless a recovery happens....
2009-04-20 07:23:18
Seoul to buy ships from ailing owners [Shipping]
Seoul is set to launch a KRW four trillion ($3bn) fund to buy tonnage from struggling shipping companies. But its plan is not being well received by the shipping community, who would prefer loans rather than having to sell their vessels. According to...
2009-04-20 07:19:19
China Steel Express cuts fleet [Shipping]
China Steel Express is selling off five ships to prepare for winter. One of Asia's leading bulker operators is shedding tonnage as it prepares for miserable times in the dry-bulk market. China Steel Express (CSE) will offload four of its older cap...
2009-04-20 07:15:20
CSAV seeks to revise orderbook terms [General]
Chilean liner shipping giant CSAV is negotiating with yards to revise the terms of its $900m orderbook. The moves, which are part of a $750m refinancing package, look set to affect nine vessels it ordered for its own account. CSAV is in advanced t...
2009-04-20 07:08:24
JJ Ugland inks newbuilding resale [General]
Norwegian shipowner JJ Ugland is in the process of buying a re-sale contract for a Supramax bulker. The 58,000-dwt vessel is due for delivery from the Tsuneishi shipyard in the Philippines in May 2009. The shipowner, which already has a number of ...
2009-04-20 07:03:57
Rousse Shipyard comes to a standstill [Shipbuilding]
All 800 workers at Bulgaria’s Rousse Shipyard are being temporarily laid off after materials ran out. The company said the staff will stop work on 27 April until further notice because of serious delays in deliveries from suppliers. Local report...
2009-04-20 07:00:57
Indians stimulus shipbuilding [Shipbuilding]
Indian owners are supporting demands by domestic shipbuilders to establish a protectionist policy that would see them build their ships at Indian yards. Shashank Kulkarni, secretary-general of the Indian National Shipowners Association (Insa), say...
2009-04-20 06:50:57
Wadan secures 16 ship orders [Shipbuilding]
Ukrainian-based grain trader Nibulon is investing $150m to start building its own fleet. It has ordered 16 river-sea vessels for general and bulk cargoes from Russian-controlled Wadan Yards. The 4,500-dwt units, the first of which will be delivere...
2009-04-20 06:45:27
Tough years to come [Offshore]
Ezra Holdings managing director Lionel Lee expects two tough years after 2009 because of the huge orderbook of offshore-support vessels (OSVs). As for the price of oil, Lee says it can improve greatly but means little if the credit markets do not ...
2009-04-20 06:40:25
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