Shipping
Owners join forces to cancel orders
Greek shipowners trio are said to be uniting to cancel a total of seven bulkers on order at Korea’s beleaguered shipbuilder 21st Century Shipbuilding. The three owners are Hellenic Star Shipping, Primerose Shipping and Laskaridis Shipping and th...
2010-01-22 14:11:21
"Bargain rumor is absurd," Daewoo CEO says
Nam Sang-tae, CEO of Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering, strongly denied the rumor that DSME bagged orders at bargain prices. Mr. Nam announced that "The rumor Daewoo received orders at bargain price is totally fro...
2010-01-22 07:01:11
Order rebound or bottom fishing?
According to Goldman Sachs research, Baltic Dry Index (BDI) seems to have touched the bottom when it dived by 35% in November 2009 from the peak in August 2008, while it is making a gradual rebound now. However, whether China’s shipbuilding and ...
2010-01-22 06:37:41
40% of bulker deliveries to slip
Jefferies & Co said failure of around 40% of dry-cargo newbuildings set for delivery in 2010 will keep the bulker market buoyant this year. Over $30m fall in values of capesize newbuildings booked in the boom years will ensure deliveries be delayed ...
2010-01-21 08:23:23
Golden Ocean loses newbuilding fixture
Trustworth Shipping pulled out of a ten-year time-charter deal with Golden Ocean Group for a capesize newbuilding that has been left without secure employment. The 176,000-dwt Golden Future is scheduled for delivery from China’s Zhoushan Jinhai...
2010-01-21 08:19:51
Boxship oversupply to continue till 2013
Oversupply situation in the containership market is expected to continue until 2013. AXS-Alphaliner, France’s maritime consultancy firm, said that containerships on standby numbered 562 vessels of 1.44m teu as of January 18th. Assuming that ...
2010-01-21 07:05:06
China Cosco eyes more delays
Hope of a huge rise in dry-cargo rates this year will not stop China Cosco putting the brakes on newbuilding deliveries, its president warns. Zhang Liang says the company will look to delay the arrival of vessels on order to avoid substantial grow...
2010-01-20 08:05:44
Oversupply keeps confidence low
The industry may be struggling to come to terms with a glut of new orders, but business confidence appears to be unfazed, according to a new survey of levels of confidence in shipping, foreign media reports. A survey by shipping accountant Moore S...
2010-01-20 07:50:19
China urges ‘Self-Transportation’
Since the global financial crisis broke out in late 2008, China’s shipbuilding industry has been experiencing the toughest time ever. About how the country’s yards should deal with it, Mr Zhang Guangqin, Chairman of the China Association of t...
2010-01-19 15:54:45
Maersk moves up delivery
AP Moller-Maersk has opted to take in its last newbuilding despite employment falling through, foreign media reports. Danish owner AP Moller-Maersk has brought forward the delivery of its final LNG newbuilding on the back of a planned charter tha...
2010-01-19 07:45:03
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