Shipping
Evergreen inks 8,000TEU's at CSBC
Taiwan's Evergreen is to ink 10 8,000TEU containership newbuildings at compatriot shipbuilder CSBC within a week, for delivery in 2013 onwards. The contract would raise the number of new 8,000TEU ship orders placed by Evergreen this year to 20 inc...
2010-08-20 07:03:08
CSA applies for BE membership
The London-based Baltic Exchange recently announced that China Shipowners’ Association (CSA) had applied for membership for the first time. It showed that Chinese shipping industry was stepping out further. On the other hand, it’s beneficial ...
2010-08-20 01:04:35
Tanker rates plummet in July
The crude oil tanker market displayed mixed patterns in July. VLCC and Suezmax spot freight rates experienced significant declines, VLCC freight rates dropped by 33.2% m-o-m in July, while Suezmax rates fell by 21%, according to OPEC’s latest Month...
2010-08-19 08:28:10
Maersk cuts idle fleet
Maersk Line has sliced the size of its idle containership fleet. The world’s largest containership owner now has only four vessels in lay-up, its first-half report says. It reactivated five boxships in July, having had nine ships idle at the...
2010-08-19 08:21:53
Maersk buoyed by box bounce
AP Moller-Maersk has smashed forecasts in the first half of 2010 and is tipping its full-year profit to break the $4bn barrier. A stronger than expected recovery in container shipping rates and a rising oil price were behind its improved showing ...
2010-08-19 07:30:41
CSDC inks $420m bulkers
China Shipping Development Company has put pen to paper on contracts for 14 dry-cargo newbuildings worth over $420m. Shanghai and Hong Kong-listed CSDC says it has ordered a dozen 46,200-dwt bulkers and a brace of 53,000-dwt ships via two subsidi...
2010-08-19 07:27:58
CSDC profit soars
Bulker and tanker owner China Shipping Development Co posted a first-half profit Tuesday as the bottom line swelled by 59%. Hong Kong-listed CSDC banked CNY 979m ($144.1m) in the six months to 30 June against CNY 615m logged in the same leg of 20...
2010-08-18 08:54:56
Baltic Trading to order six
New York-based shipping company Baltic Trading has raised $228m in IPO to finance plans to buy six dry-bulk cargo vessels, which will be deployed to transport iron ore, coal, grain and steel products. The US-based company has sold 16.3 million shares...
2010-08-18 08:48:23
Brightoil orders 5 VLCCs
Brightoil Petroleum has inked a letter of intent to order five very large crude carriers (VLCC) for $537.5m in total. The Hong Kong-listed bunker and oil company said it had signed the LOI for the vessels on July 23th, but did not disclosed which ...
2010-08-18 08:21:35
Evergreen returns to No.4
In the 2nd quarter, Taiwanese Evergreen chartered 15 ships gradually. The shipping capacity increased accordingly. According to Alphaliner statistics, it reached 615,000TEU in August, returning to 4th place of global market. Compatriot Yang Ming a...
2010-08-18 01:04:29
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