Shipping
Chinese richmen rise from shipping & shipbuilding
Gao Yanming ranked 18th in China’s rich list, regarded as the Chinese King of Ships. Gao , who was 53 years old and, was Chairman of China’s HOSCO Group. According to Huran report, Gao’s personal property was raised by 320%, hitting $3.7bn. ...
2010-11-11 10:49:34
Maersk posts stellar showing
AP Moller-Maersk has topped expectations in an “exceptional” first nine months of 2010 as its interim profit passed its previous full-year forecast. A stellar performance from its container line and a rising oil price are behind the stronger ...
2010-11-11 08:11:45
Knightsbridge grows fleet as results improve
Knightsbridge Tankers has turned in an improved set of third quarter numbers amid talk it is ready to add at least one more ship to its growing fleet. John Fredriksen-controlled Knightsbridge banked a profit of $8.87m in the three months to the e...
2010-11-11 08:08:49
Cosco warns against blind expansion
Cosco boss Wei Jiafu has warned the shipping industry against irrational expansion. Speaking at the World Shipping (China) Summit in Guangzhou Cosco president and ceo Wei noted that the WTO forecast world trade growth would hit 13.5% this year, t...
2010-11-11 07:29:56
Navios tanker twist
Navios Maritime Acquisition has again dived into the tanker sale and purchase market but this time there is a twist. At the same time as picking up two products tankers in South Korea the shipowner has put off the arrival of two other newbuilding...
2010-11-10 07:51:41
Fredriksen buys supramax pair
John Fredriksen’s Ship Finance International has laid down just over $60m for two more supramax newbuildings. It has penned the 57,000-dwt twins after securing 10-year charters for the ships. Ole Hjertaker, CEO of SFI, said the vessels are resa...
2010-11-10 07:48:39
Asians return to shipyards
Asian containership owners are set to resume ordering newbuildings, with Hanjin Shipping and CSCL likely to ink new ships soon. As box markets continue to improve, Korea's Hanjin Shipping said it could announce a contract for medium-sized vessels...
2010-11-10 07:34:43
Boxship uptrend to continue in 2011
Containership market is forecast to continue uptrend next year as fleet supply and demand situations stabilize. Daishin Securities analyst Yang Ji-hwan said eco-steaming would expand next year and sixth generation ultra-large containerships being ...
2010-11-09 15:36:43
Sinotrans orders 2+2 Capes
An insider revealed that Sinotrans which was Chinese state-owned giants was considering ordering more bulk carriers. Sources revealed that Sinotrans signed LOI with Guangzhou Longxue Shipbuilding to build three plus two 206,000dwt Capesize bulk c...
2010-11-09 11:01:57
NYK orders 95K bulkers
Nippon Yusen Kaisha (NYK) is expanding its fleet of post-Panamax bulkers. It has just ordered three additional 95,000-dwt bulkers from Imabari Shipbuilding for delivery between 2012 and 2013. With this, NYK has increased to eight the number o...
2010-11-09 10:38:32
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