“Every cloud has a silver lining”: MOL boss says [General]
Mitsui OSK Lines (MOL) president Akimitsu Ashida (pictured) has delivered a speech on the company's 125th anniversary putting the current economic crisis into historical perspective. "It seems to me that now is an opportune moment to reflect on the s...
2009-04-02 08:04:43
Evergreen unveils big plans for Singapore [Shipping]
Taiwan-based Evergreen has defied the global trade collapse to start a new container shipping company based in Singapore and flying the republic's flag, to capitalise on Singapore's standing as a flag of quality, reports the Straits Times. Evergre...
2009-04-02 08:00:13
Trade finance almost collapsed [Finance]
Trade credit has “all but collapsed” according to a survey by the International Chamber of Commerce. Risk averse finance houses are pulling the plug on credit lines to shippers, putting more downward pressure on world trade. Despite the l...
2009-04-02 07:57:35
Conoship ties up with bulker specialist [Shipbuilding]
Groningen-based Conoship International, a specialist in small ship design, has forged a joint venture with companies controlled by bulk carrier specialist Antony Prince. The strategic alliance between Conoship and the Nassau-registered firms Algos...
2009-04-02 07:54:45
Technological advances enhance ship designs [Shipbuilding]
Improving research, design and production methods are helping innovators to push the limits further. By its very nature, ship design is a circumspect and long-term endeavour. Fuel price volatility, the environmental impact of shipping activity and...
2009-04-02 07:48:57
Debt-free Asry set to ride out storm [Finance]
Bahrain-based Arab Shipbuilding and Repair Yard Co (ASRY) says it is set to ride out the global economic storm in 2009 following its record breaking year in 2008. Both chairman, HE Shaikh Daij bin Salman bin Daij Al-Khalifa and chief executive Ch...
2009-04-02 07:44:06
Financial shortage of shipbuilders [Finance]
After almost six months during which almost no newbuilding orders have been placed, shipyards around the world and especially in the two biggest shipbuilding nations of South Korea and China are facing acute problems. Besides their urgent need for ca...
2009-04-02 07:37:15
Zim cancels six 1,700-teu newbuildings [Shipping]
Israeli container line Zim has torn up contracts for six 1,700-teu containerships at CSBC in Taiwan. The yard said an agreement had been made to cancel the $220.4m series, which was originally ordered in 2007. “The global financial crisis has le...
2009-04-02 07:27:46
Marmaras denies cancellation: Hyundai [General]
Greece’s Marmaras Navigation shipping group has dismissed reports that it is close to negotiating cancellation of half of its outstanding tanker building programme with South Korea’s Hyundai group. Reports published in both Asia and Europe ha...
2009-04-02 07:22:22
Majors secure only 1 order [Shipbuilding]
South Korea’s major shipbuilders received only one newbuilding order in the first quarter of 2009. Global shipbuilding industry is now experiencing a severe order drought and fears are mounting that shipbuilding slump could last for a long time....
2009-04-02 06:42:34
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