STX Europe cut steel for P&O’s huge ferry [Shipbuilding]
The production of the first of the two huge ferries ordered by P&O Ferries started on the 3rd of March 2009 by cutting its first steel plate on STX Europe's yard in Rauma, Finland. The roro-passenger ferries to carry freight and cars are scheduled...
2009-03-05 07:58:38
Repair yard sale scrapped: Montenegro [General]
Montenegro has cancelled the sale of shiprepair Adriatic Shipyard Bijela for the third time after the UAE-based bidder failed to come up with enough financial details. Yacht maker Abu Dhabi Mar (ADM) had agreed to buy the 61.57% stake in the yard ...
2009-03-05 07:48:51
MOL idles 5,500-teu ships: Cold lay-up [Shipping]
Mitsui OSK Lines (MOL) has decided to lay up two 5,500-TEU containerships on a long term basis. The company will apply the so-called cold lay-up method which calls for the disembarkation of all crewmembers on the ships and stopping of the engines dur...
2009-03-05 07:43:11
Capesize fleet to return to full operation [Shipping]
The number of laid-up Capesize bulkers is rapidly decreasing. The primary cause is the recovery of transport demand from Brazil to China, and overseas media sources report that the number of bulkers laid up has fallen to around 30 units. The majority...
2009-03-05 07:38:21
Vale constructing bulk terminal in Oman [General]
Brazilian mining giant Vale is building a 1-million-square-metre complex at Sohar that will position Oman as a pellet distribution hub serving steel plants in the Middle East, North Africa and India. As part of the project, Sohar International Develo...
2009-03-05 07:34:28
Rift among repair yards in Naples port [General]
Among Luciano Dassatti’s first tasks as he embarks on his presidency of the port of Naples is the resolution of a long-running dispute that has riven the city’s shiprepair sector. Naples has one major graving dock, which has the capacity to ha...
2009-03-05 07:29:39
Newbuilding adjustments hit Eagle Bulk [Finance]
Nasdaq-listed supramax specialist Eagle Bulk Shipping said fourth-quarter net income fell as it incurred one-time write-offs and other costs relating to amendments to its debt and newbuilding programme. Net income in the three months to the end of...
2009-03-05 07:23:40
Fredriksen to rescue Golden Ocean [Finance]
John Fredriksen (pictured) has stepped in to support financially-pressed Golden Ocean with an offer to buy the majority of the dry bulk company’s $200m bond issue. His intervention could help to prevent Golden Ocean being in breach of a crucial...
2009-03-05 07:19:27
MOL not cancelling newbuildings [Shipping]
Mitsui OSK Lines (MOL), the world’s largest bulker operator, denies that it is cancelling ore carrier newbuildings, but is putting plans for further orders on hold. “We have not cancelled any new orders including those for VLOCs and capesizes...
2009-03-05 07:14:12
Cancellations and scrapping: Catalyst to recovery [Shipping]
An unprecedented contraction in the global fleet of dry bulk ships due to cancellations at shipyards and increased scrapping could be the leading edge of a sustained recovery in the sector, Eagle Bulk Shipping chairman Sophocles Zoullas has said. Mr ...
2009-03-05 07:06:37
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