Shipping
Top 20 earn $3.7bn in H1
AXS-Alphaliner issued report showing global top 20 liners earned $3.778bn in the first quarter of this year. Obviously it was improved against that at the same period of last year, when that loss hit $6.898bn. The top 20 liners showed in the repor...
2010-09-13 01:12:11
Globus back into a profit
Greek bulker owner Globus Maritime has seen second quarter results sneak into the black on the back of its slimmed-down fleet. The London-listed shipowner said profits were $631,000 against a loss of just over $14.1m seen a year ago. Despite t...
2010-09-10 08:26:48
VLCC rates hit 10-month low
Owners refuse to hire their ships at levels that effectively see them pay for crude transport. Frontline, AP Moller-Maersk and Iran’s NITC have removed their very large crude carriers from the spot market, according to brokers, with rates at 10...
2010-09-09 08:32:53
Bulkers looking to up gains
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head towards another “winning” week for the industry’s main benchmark, the Baltic Dry Index (BDI). The index po...
2010-09-09 08:25:55
U-Ming soars in H1
Taiwanese bulker owner U-Ming has boosted revenue and profit in better markets. The company said net earnings in the six months to 30 June were TWD 4bn ($125.16m), up from TWD 2.52bn in the same period of 2009. Revenues climbed to TWD 1.13bn, aga...
2010-09-09 08:19:58
Trade growth handles overcapacity?
"The overcapacity of global shipbuilding industry is so serious that it requires 7% shipping trade growth on average annually to deal with," said Dr Martin Stopford of Clarksons. The 7% growth absolutely exceeds the speed in the past 50 years. In ...
2010-09-09 01:03:39
33% further down on Capesize?
Chairman Xu Zhijian of Taiwan Yili Shipping currently said in Taipei that they would not order Capesize ship immediately although the price dived at $60m now. It was expected to be decreased by 33% further for his satisfactory. He also predicted ...
2010-09-08 10:19:12
Frontline fixes VLCCs
Frontline has bagged long-term charters for a pair of VLCCs but has remained mum on the identity of the companies behind the deals. The pair of charters is further indication that the Oslo and New York-listed owner is making good on a recently-an...
2010-09-08 08:14:41
Greece reinstates shipping ministry
In a sweeping government reshuffle Greek prime minister George Papandreou has reinstated an independent shipping ministry after months of dissatisfaction from the industry. Yiannis Diamantidis will take the portfolio that will now go under the na...
2010-09-08 08:10:49
Cash-rich Asian shipping firms
DnB NOR currently issued shipping analysis report showing the Asian listed shipping companies such as COSCO and OOCL hold more flow cash than those of European rivals. COSCO was expected to become the main asset buyer. However, DnB thought most A...
2010-09-07 09:38:34
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