Shipping
Asking for earlier delivery
Shipowners with bulker newbuildings on order for delivery in early 2010 are increasingly requesting that shipyards deliver the vessels earlier than sheduled, especially within this year. Next year massive newbuildings are set to be completed, whic...
2009-11-20 09:47:02
Peter Döhle asking for state aid
According to foreign media report, German shipowner Peter Döhle has withdrawn its application for government support. The company had applied for funding from the national bail-out fund provided by state-owned KfW bank. The company’s ma...
2009-11-20 07:02:17
Sovcomflot to order two suezmaxes
Sovcomflot OJSC plans to order two suezmax-type tankers at United Shipbuilding Corporation OJSC for TNK-BP petroleum products shipping, stated Russian Oil with reference to TNK-PB representative. As per him, it is planned to build marine and rive...
2009-11-20 06:49:35
Sino-Korea sway Marine’s fate
“South Korea and China will determine the destiny of global shipping industry. Newbuildings to be delivered from the two countries and China’s volume of trade will decide whether shipping market recovers or continues to struggle.” Arlie G. S...
2009-11-20 06:16:46
Baltic Dry Index breaks 2009 record
In what evolves into the best type of “sweetener” for owners of dry bulk vessels as one of the toughest years for the industry nears its end, the Baltic Dry Index (BDI), which tracks rates to ship dry commodities climbed yesterday to its all-year...
2009-11-19 09:02:58
CMA CGM may return to profit
French container line CMA CGM has affirmed that it expects to return to the black in 2010 after recovering to a breakeven position next month. In a statement Wednesday, CMA CGM said the savings plan applied across the group, combined with improvem...
2009-11-19 07:10:59
Tsakos sells second suezmax
Greece’s Tsakos Energy Navigation (TEN) has sold its second suezmax tanker in weeks. Its 164,274-dwt Decathlon (built 2002) has gone to the same shipowner which purchased the 164,000-dwt Pentathlon (built 2002) earlier this month. The buyer of t...
2009-11-19 07:08:07
TMT cancels 4,900-car PCTCs
Taiwanese shipowner TMT has cut its 4,900-unit pure car/truck carrier (PCTC) orderbook. According to market source, the owner had planned to build up to six PCTCs at China’s Yangfan Group but it now reportedly cancelled the orders except first t...
2009-11-18 11:58:48
French group may buy CMA CGM stake
The Louis Dreyfus commodities group and its former shipping subsidiary Louis Dreyfus Armateurs have expressed interest in playing a role in the rescue of debt-ridden French container line CMA CGM, according to a local newspaper report. Banking sou...
2009-11-18 06:52:26
China drives BDI soaring
The Baltic Dry Index has doubled in the last two months to reach its highest level since the global financial crisis hit last September, indicating that industrial production is coming out of recession. Although China is still the driving force behin...
2009-11-18 06:49:17
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