No cease of supply of bulkers for demolition [General]
Bulk carriers continued to make a one-way trip to the world’s ship cemeteries, even as freight rates for dry bulk carriage improved, providing shipbreakers with plenty of tonnage to choose from. But while bulkers, containerships and passengershi...
2009-02-17 15:07:42
CSCL plans to set up finance subsidiary [Finance]
China Shipping Container Lines (CSCL), the nation's second-biggest box carrier, said it plans to set up a venture in Shanghai with its parent and three other group companies to provide financial services for their units. The company will provide 25 p...
2009-02-17 15:00:47
BDI recedes for third straight day [Shipping]
The Baltic Dry Index posted a third consecutive drop on falling rates to haul coal and iron ore for making steel. The index fell 62 points, or 3.2 percent, to 1,846 points, according to the Baltic Exchange. "A painful downturn is expected for Chin...
2009-02-17 14:46:37
More drop, More profitability: Steel price [Equipment]
Shipbuilders are increasingly pinning hopes on the declining trend of shipbuilding steel prices after struggling with high prices for three years as it may contribute to bettering their profitability. However, they are well aware that plunging raw...
2009-02-17 13:26:23
Chinese yards intend expanding offshore business [Offshore]
Chinese shipyards are expanding their offshore business one and all. Until recently, state-run shipbuilders Dalian Shipbuilding Industry Co. (DSIC) and Shanghai Waigaoqiao Shipbuilding, and foreign-affiliated Yantai Raffles Shipyard have been well-kn...
2009-02-17 11:56:37
No compromise on safety, stresses IACS [General]
Mr. Oh Kong-gyun, Chairman and CEO of the Korean Register of Shipping and current Chairman of the International Association of Classification Societies (IACS) has reinforced the vital relationship between IACS and IMO and warns that there will be no ...
2009-02-17 08:10:09
Jinan Steel inks pacts with DSSC and Yantai Dajing [Equipment]
It is reported that Jinan Steel, China's largest shipbuilding plate manufacturer, signed the direct distribution agreements for 2009 with DSME Shandong Co and Yantai Dajing metal commerce & trade Co. Mr Wang Jun board chairman of Jinan Steel noted th...
2009-02-17 08:06:15
Goldenport buys boxship [Shipping]
Goldenport Holdings has agreed to purchase an unnamed containership for $10.5m, the London-listed owner said Monday. The ship is being acquired from Panama registered Cosmo Shipholding and is expected to be delivered within March 2009. The acquisi...
2009-02-17 08:00:18
Two more month delay for Fairstar’s heavylift vessel [Shipbuilding]
Labour issues at Malta Shipyards will delay the arrival of Fairstar’s latest heavylift vessel by up to two more months. Oslo-listed Fairstar, which posted at NOK 7.76m ($1.24m) loss in 2008, says the 13,776-dwt Fjell (built 2001) will now be del...
2009-02-17 07:54:58
Marco secures buyer for AHTS newbuild [Offshore]
Marco Polo Marine has secured a buyer for its first anchor handling tug supply (AHTS) newbuilding. A mystery owner is paying $15.5m for the 5,380-bhp vessel, says the Singapore-listed shipbuilder and charterer. Sean Lee Yun Feng-led Marco Polo wil...
2009-02-17 07:51:18
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