Shipping
STX pens domestic CVCs
Korea’s STX Pan Ocean continues to rack up long-term shipment deals with domestic power companies. The shipowner has just won two consecutive voyage contracts from Korea Southern Power Co, it said Monday. The deals will see it ship steaming coa...
2010-11-09 07:46:34
HMM eyes HEC buy
Korean shipowner Hyundai Merchant Marine (HMM) says it is forming a consortium to bid for Hyundai Engineering & Construction (HEC). The construction firm was put up for sale last month. Creditors have been looking for a new owner since 2006 w...
2010-11-09 07:37:14
40 new order puts GCL's ambition
Grand China Logistics (GCL) has just struck a deal for 40 newbuildings. It could be moving a step closer to achieving its ambition of controlling a 200-ship fleet over the next five years The Shanghai-based company is said to have made a pa...
2010-11-08 09:16:43
D&K eyes cancelled ship orders
Middle Eastern tanker owner D&K Holdings is eyeing up cancelled newbuilding contracts in South Korea to kick-start its fleet-rejuvenation program. Senior company sources say that they are in talks with SPP Plant & Shipbuilding and SLS Shipbuildin...
2010-11-08 07:16:02
Evergreen: Lucky year
It is a lucky year for Zhang Rongfa who is Chairman of Taiwanese Evergreen Group due to amazing performances. In addition, Zhang Guowei who is little son of Zhang Rongfa returned to the leading group of Evergreen as well. Evergreen Group was mainl...
2010-11-08 01:02:40
COSCO orders ten heavy lifters
On the evening of October 31st, COSCO Shipping signed contract with Nantong COSCO KHI Ship Engineering Company Limited in Shanghai, to build four-unit 28,000-dwt heavy lifters. On the morning of November 1st, COSCO Shipping signed with Shanghai S...
2010-11-05 11:05:12
Stolt buys secondhands instead of newbuilds
Norway's Stolt-Nielsen is buying seven chemical tankers for $255m to fill the gap caused by newbuilding cancellations. The vessels, together with six chartered from Jo Tankers for three years, effectively replace the newbuildings it cancelled at ...
2010-11-05 08:29:58
Products carrier agony continues at Torm
A weaker than forecast products carrier market is set to drive Danish tanker owner Torm deeper into loss. Torm has revised its forecast result for this year sharply down as expectations of a market recovery have not led translated into higher fre...
2010-11-05 07:35:52
Container market shows unusual sign
In this year, the hot season seemed not so hot while off-season felt not so cold due to financial crisis. Traditionally the container shipping market should be cold in the first half year and hot in the second half year. But in this year, it was d...
2010-11-04 09:03:15
VLCC orders soar
Tanker owners have exhibited their bullishness on the sector’s long term prospects, despite the current adverse market conditions they have stumbled upon. According to a report from London-based shipbrokers Gibson, during the third quarter of t...
2010-11-04 08:24:45
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