Shipping
Sinotrans: 85% capacity was booked
Executive Director Tian Zhongshan of China’s Sinotrans speculated that the huge amount of deliveries in the second half year might trigger great pressure on market. He revealed that 85% shipping capacity of Sinotrans had been booked in the second h...
2010-08-17 11:34:50
CMA CGM takes delivery of 13,830TEU
CMA CGM Group took delivery , Monday August,16th, in South Korea of the CMA CGM CORTE REAL (13,830 teu) built by DSME (Daewoo Shipbuilding and Marine Engineering), the third of a series of eight vessels named after the great explorers. CMA CGM CORTE ...
2010-08-17 09:25:18
Box ship rates are flattening out
Demand: We see that the freight rate index levels from China show that rates to Europe have been very stable around 1,800 (index value) since April with a slight negative trend over the last three weeks. Spot prices from Shanghai have been equally fi...
2010-08-17 09:20:08
Evergreen back to profit
Taiwanese containership giant Evergreen Marine has stormed back to profit in the first half as box markets made their own comeback. The owner said it posted net earnings of TWD 4.03bn ($126.17m) to 30 June, compared to a loss of TWD 4.71bn in 200...
2010-08-17 08:11:56
Dryships shows optimism on boxships
In spite of huge investments on Danaos, Economou who is the father of DryShips Inc. seemed still not satisfied, especially for boxships. Economou acknowledged that he and his team were considering boxship fleet, including newly-built and second ha...
2010-08-17 01:05:31
Zim gets breathing space on newbuildings
Israeli line Zim will unveil second quarter results at the end of the month against the backdrop of rapidly recovering container trades and a financial restructuring package that may have given it a headstart over rivals. Zim was one of the very f...
2010-08-16 07:28:37
Slow steaming needs more ships
Neptune Orient Lines will spend $1.2bn ordering 10 new 8,400 teu vessels for delivery in 2013 and 2014 The new era of slow steaming has forced containership lines to reconsider their ordering strategies as reduced sailing speeds require more vess...
2010-08-16 07:19:56
Polaris plans VLOC order
South Korean dry-bulk operator Polaris Shipping is looking to order newbuildings following a long run of converting tankers into bulkers. Polaris president Kim Wan-jung says the company is planning initially to book two 300,000-dwt very large ore...
2010-08-13 10:54:35
Ciner mulls inking VLCCs at Bohai
China’s Bohai Shipyard received an order for four suezmax tankers from Turkey's Ciner group. In May the Istanbul-based owner had signed a letter of intent to build up to six 163,000-dwt tankers at Bohai. Ciner chief executive Vasileios Papak...
2010-08-13 10:44:17
Capesize on a hot streak
Average daily spot earnings have almost doubled week-on-week for capesize vessels, while levels paid for rounds in the Pacific have tripled to $32,000/day as China regains its appetite for iron ore. The Baltic Dry Index rose 7.5 percent yesterday...
2010-08-13 07:58:58
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