VLR collets debt [Finance]
Vakaru Laivu Remontas (VLR), a shiprepair subsidiary of Lithuania’s Western Shipyard, has recovered nearly LTL 400,000 ($156,000) in debt and penalties from Norway’s Porsoy. VLR had taken Porsoy to court over its delay in paying the Klaipeda comp...
2009-03-26 07:40:19
Panamax bulker oversupply [Shipping]
A surplus of more than 500 panamax bulkers by 2011 is predicted by researchers at DVB Bank. Slowing demand and a growing volume of tonnage over the next two years will result in the widening supply and demand gap, says the German-Dutch transport s...
2009-03-26 07:35:12
Camillo Eitzen: Ship shifters [General]
Camillo Eitzen is pulling vessels from its ship management arm Eitzen Maritime Services and handing them over to third party rivals in a bid to cut costs. CEO Peter Knudsen says three units have already been transferred to V.Ships in Cyprus and ta...
2009-03-26 07:30:20
SCI to hold tender for cargo/passenger ships [Shipbuilding]
India's state-run operator Shipping Corporation of India (SCI) on March 23 disclosed its newbuilding consolidation plan for two passenger-cum-cargo vessels (which can carry 500 passengers and 150 tons of cargoes), with two more on option. SCI will...
2009-03-26 07:21:51
Korean resume while Japan quiet [General]
South Korean builders have resumed their marketing activities for newbuildings, but Japanese yards are not dropping their wait-and-see stance. Shipyards in South Korea have been targeting order receipts in order to fill their empty slipways for s...
2009-03-26 07:18:58
LR opens $8m surveyor training facility in Shanghai [General]
Lloyd’s Register Asia Wednesday opened its first dedicated marine surveyor training centre in Shanghai. The Maritime Surveyor Training Institute (MSTI) represents more than an US$8 million investment for the organisation in the first five years ...
2009-03-26 07:14:10
IMO emissions plan under fire [General]
Energy efficiency index that could set limits for carbon dioxide is condemned as too complex The International Maritime Organization’s formula for determining the efficiency of a ship, and thus the carbon dioxide it emits, is in danger of becomi...
2009-03-26 07:11:38
Struggling NCA ready to deliver fifth Grimaldi ferry [Shipbuilding]
Embattled Tuscan shipyard Nuovi Cantieri Apuania (NCA) expects to deliver the fifth of eight cruise ferries under construction for Aldo Grimaldi in the next two weeks. As they contemplate an uncertain future, however, the eyes of management and w...
2009-03-26 07:08:49
STX yet to decide on Russian yard project [General]
South Korea’s STX Group said that news reports of its involvement in a $1bn shipyard project in Russia’s Far East are premature. News reports had said that STX would participate in a shipyard project in Primorsk which is being led by Russian ...
2009-03-26 07:05:41
American driving season boosts clean tanker FFAs [Shipping]
Interest in the effects of the forthcoming US driving season on future tanker demand led to increasing offers for product tanker derivative contracts. Values of forward freight contracts for the medium range tanker routes in the Atlantic rose yest...
2009-03-26 07:03:44
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