Shipping
Evergreen: Good time & good price
Evergreen was becoming a shining star since this year. Considering on-going competitive price for newbuilding, the shipping business of Evergreen was heated. According to report issued by Credit Suisse, the operating strategy of Evergreen was not ...
2010-10-21 01:02:27
NOL posts turnaround in Q3
Singapore's NOL Group has posted net profit of $282m for the third quarter, turning around a $138m loss last year. Revenue to 30 September grew 55% to $2.4bn. Its cumulative nine-month profit is now $283m. It lost $530m during the same period ...
2010-10-20 08:16:03
Zodiac in talks for fixture of mega-ships
It seems lines are eager to grab the ‘must-have’ 13,000-teu giant newbuildings Zodiac has ordered at STX. Zodiac Maritime Agencies is negotiating employment for up to 10 mega-boxships. Talks with charterers are ongoing after the Ofer grou...
2010-10-20 08:01:53
Transfield ER goes into liquidation
Transfield ER Cape has filed for liquidation in the British Virgin Islands (BVI), say sources involved in the worldwide legal battles between the Chinese-controlled company and its former counterparties. The Peter Mok-controlled chartering operator h...
2010-10-20 07:51:51
Container shipping faces cooler season
Container shipping enters traditional off-season and the freight rate faces slumping, especially European routes. The freight rate dived at $1,500 level, namely 20% down since September. Experts were worried the freight would slump more in the fourth...
2010-10-20 05:05:42
Capesizes rise on recovering iron ore demand
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk shipowners, especially those who have invested in the capesize market, as rates improved together with an increase of ir...
2010-10-19 08:04:47
Tanker: Bleaker from day to day
Tanker rates will not only fail to rally in the fourth quarter they will also remain under the cosh in 2011, Oppenheimer warns. An onslaught of newbuildings and a cut in floating storage contracts has lead analyst Scott Burk to cut back his forec...
2010-10-19 07:50:28
STX inks $5bn freight & newbuild deal
South Korean shipowner STX Pan Ocean has reportedly penned a $5bn transport deal with the Brazilian private company Fibria Celulose for the shipping of pulp from Brazil to the US, Europe and the Far East. The freight contract runs for 25 years si...
2010-10-19 07:33:45
Oversupply bothers shipping market
Currently global shipping market is hanging around recovery stage, as well as China. The oversupply still exists and becomes serous and complicated. In 2009, global container shipping market mire in recession. The trade volume dive by 10% but tran...
2010-10-19 05:41:26
VLCC oversupply nightmare
An average of five VLCCs deliveries per month so far this year with the trend worryigly increasing each quarter can’t be looked as good new for tanker owners in a period where the increase of oil demand is marginal and OPEC’s oil production is st...
2010-10-18 07:31:14
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