General
Demolition sales slow
THE relentless supply of vessels facing demolition, coupled with the steel price crash and potential yard closures hanging over the heads of Bangladeshi ship recyc­lers, ensured that last week became perhaps the slowest week in recent months. Wit...
2009-04-14 11:14:32
Scrapped exceeding newly-built
Amid severe economic slump, the number of ships being scrapped is outpacing that of newly-built ships. This may be a relieving factor for the worries of tonnage oversupply in shipping industry. According to statistics from Clarkson Research Servic...
2009-04-14 06:25:54
UN SG Wife sponsor ‘World Harmony’
Yoo Soon-taek (right in the picture), wife of Ban Gi-mun, the United Nations Secretary-General and Chantal Mitropoulos, wife of IMO Secretary-General Efthimios E. Mitropoulos stood sponsors to a pair of 74,000-dwt product carriers. The naming cere...
2009-04-13 14:57:29
Chinese delegation calls on Pakistan
A Chinese delegation headed by Vice President of China Shipbuilding Industry Corporation (CSIC) and Chinese Ambassador Luo Zhaohui called on President Asif Ali Zardari at Aiwan e Sadr Friday. Shao Kiawen, Vice General Manager CSIC, briefed the Presid...
2009-04-13 07:39:07
VLCC sale for demolition emerging
Sale of VLCCs for demolition surfaced for the first time after a long hiatus. According to a market report, a 254,956-dwt VLCC completed in 1984, the Eleuthera, was sold to a Bangladesh dealer at a per-light ton price of $355. VLCC scrapping will ...
2009-04-13 07:29:49
Bonyad grabs bargain capesize
An Iranian player is making the most of depressed bulker values. Iran's Bonyad Shipping has taken advantage of rock-bottom bulker values to make a break into the capesize sector. The company has picked up Toyo Sangyo's 141,000-dwt Lady Madonna (bu...
2009-04-13 07:12:45
"Sea Asia 2009" in Singapore
Sea Asia 2009, the region's leading maritime conference and exhibition, opens in Singapore on Apr. 21, with more than 350 companies from 27 countries participating. A symposium for Asian business executives will be held during the three-day session a...
2009-04-11 12:04:08
TTA scraps elderly bulker
Thoresen Thai Agencies has sold a 27-year-old bulk carrier for scrap. Its 17,326-dwt Thor Merchant (built 1982) was bought by Gibraltar-based Unisoft International for $2.01m, a statement says. TTA, which says the sale price matches up with the sh...
2009-04-10 07:47:58
Bangladesh steel price fall hurts ship values
Ships sold for demolition have lost 15% of their asset values in the last week, after Bangladeshi scrapping prices fell suddenly. Steel prices in Bangladesh have plummeted by around $70 per ldt, and the fall has been “echoed around the world”,...
2009-04-10 07:31:08
Hanwha to sue KDB over aborted DSME sale
South Korea's Hanwha Group plans to file a lawsuit this month to reclaim a deposit seized by a state-run bank after the group's aborted deal to buy a shipbuilder, industry sources said Thursday. Hanwha had been selected by the Korea Development Bank ...
2009-04-09 16:35:34
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