Shipping
Yang Ming turns around
Taiwanese container line Yang Ming has followed other owners in posting improved earnings from better box markets. The company said net profit was TWD 2.71bn ($84.71m) in the six months to 30 June, against a deficit of TWD 6.93bn in the same peri...
2010-09-03 07:08:52
Wan Hai rides high
Wan Hai Lines is increasing earnings in 2010 after recovering from a dire previous year. The containership owner from Taiwan said it made TWD 1.66bn ($51.79m) on a net basis in the six months to 30 June, compared to a loss of TWD 1.2bn in the sam...
2010-09-03 07:04:05
Wallenius eyes LNG propulsion
Wallenius Marine is looking at LNG as a possible replacement shipping fuel in a move designed to cut its emissions. It has teamed up with compatriot LNG GOT AB to examine possibilities for using the clean fuel on both its existing and newly built...
2010-09-02 08:17:58
Dockwise wins dozen deals
Dutch heavy-lift player Dockwise has won 12 new contracts worth nearly $37m. Six short-term deals involve transporting jack-up rigs, including the Sea Tower, Rowan EXL 2, KS Endeavor, and Atwood Beacon, to various locations around the world this ...
2010-09-02 08:16:11
CMA CGM turns around loss
French containership player CMA CGM has posted a profit for the first-half of 2010 as rising rates and cost-cutting helped boost the bottom line. The Jacques Saade-led owner banked $864m in the six months to 30 June, reversing a loss of $518m log...
2010-09-02 08:04:55
Boxship fleet expansion speeds up
According to Alphaliner statistics, global boxship fleet rose by 1m TEU in the past nine months, standing at 4841ships of 14m TEU. It took 13.5 months from 12m TEU to 13m TEU before. At the beginning of this year, the boxship fleet was 4719 ships of ...
2010-09-02 01:04:09
Boxship market bullish
Boxship volumes could rise between 5% and 8% next year as Asian trade increases. This may partially offset a possible slowdown in the US and Europe, according to Eng Aik Meng, APL president. “The growth is going to be increasingly centred o...
2010-09-01 08:35:29
Large ships squeeze small ships
In recently years, the amount of 8,000TEU sized boxships sailing in Pacific routes was increased rapidly. In Europe and Asia route, the new-generated boxships with larger capacity were taking the place of those 8,000TEU sized ships. According to C...
2010-09-01 01:06:13
Pertamina eyes $600m tanker buy
Indonesia’s PT Pertamina is to embark on a $600m acquisition splurge with tankers on the menu. The owner is adding the considerable amount of tonnage to its fleet to enhance efficiency, according to a report in The Jakarta Post. A total of 18 t...
2010-08-31 08:33:25
Brightoil confirms VLCC order
Chinese tanker owner Brightoil Petroleum has confirmed an order for five VLCCs. The 319,000-dwt ships cost $107.5m each and will be delivered between July 2012 and March 2013. It was reported earlier that South Korea's Hyundai Heavy Industries (H...
2010-08-31 08:31:28
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