Shipping
New Aframax prices to drop
Aframax tanker newbuilding prices are forecast to fall further to around $47m. Average aframax earnings are set to remain low for the next 12-15 months, foresees German bank DVB. It says that following the sharp decline in aframax values from ...
2010-11-04 08:13:21
BC fleet growth, slower than expected
According to original Clarkson statistics at the beginning of this year, in 2010 about 7.85m dwt Chinese owned bulk carrier orders (below 80k dwt size) were expected to be delivered. However, actually only 3.62m dwt was added by the end of September....
2010-11-03 08:00:40
VLCC: Five units up per month
According to Mcquilling report, more and more VLCCs were rushing into the market since the beginning of this year, at the speed of five units per month. As a result, tanker owners kept pessimistic views on the market due to the huge number of VLCC...
2010-11-03 07:42:54
Sovcomflot confirms Daewoo order
Sovcomflot revealed details of its big tanker order involving Korea's Daewoo and the Russian state shipbuilding company. The owner said it will build four aframaxes and two LR2 tankers between 2012 and 2014 at Daewoo Shipbuilding & Marine Enginee...
2010-11-03 07:32:15
Panamax bulkers lose steam
The dry bulk market began this week on a negative tone, with all shipping segments on the red, with Panamax in particular dropping the most, thus limiting last week’s gains. The Baltic Dry Index (BDI) was down yesterday at 2,648 points, a fall ...
2010-11-02 08:25:24
Heavy backlog suppresses dry sector
Dry-cargo stocks will remain relatively dead money while a huge newbuilding orderbook continues to hang over the sector, JP Morgan says. Its warning comes as the US investment bank predicts a decline in earnings next year due to continuing fleet ...
2010-11-02 08:21:08
Torm offloads two newbuilds
Torm will shoulder a loss of $16m after selling two dry-cargo newbuildings. Copenhagen-listed Torm has offloaded the two kamsarmaxes for a combined $90m, it tells investors. Jacob Meldgaard CEO of the shipowner, said: "We consider the timing o...
2010-11-02 08:11:03
Yang Ming profit breaks record
Yang Ming Marine Transport has posted record quarterly profit and revenue as the containership recovery continued. Taiwan's number two container line, after Evergreen, said the result was down to higher demand and effective cost-control measures....
2010-11-01 07:37:11
SCI to order VLCC & Boxship
The Board of Shipping Corporation of India Ltd. (SCI) has approved $661.3m of newbuilding purchases. Within the next few days the company is expected to announce orders for four 318,000-dwt VLCC's and three 6,500-teu containerships. According...
2010-11-01 07:03:49
Idle fleet to rise
Recently in spite of stable cargo volume, the freight rate was still slumping. The shipping lines had to modify operation strategy. How to prevent freight diving became a hot topic. The forwarders received notice from shipping lines gradually. Fro...
2010-11-01 01:02:48
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