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Eitzen eyes dry-bulk fall
Eitzen Bulk tips dry-cargo rates to decline going forward despite tweaking its forecast for the number of newbuildings set to enter the market this year. Copenhagen-listed Eitzen Bulk “realistically” expects 76 million dwt of fresh capacity to...
2010-08-25 07:12:00
Frontline to soar in Q2
Frontline is tipped to post a sharp rise in second quarter profit when it unveils its figures later this week. The world’s largest VLCC owner is set to card a bottom line of $60m in the three months to the end of June, shattering the $28m bagge...
2010-08-25 07:09:36
CSAV mulling building 8,000TEU's
Chilean owner Compania Sud Americana de Vapores (CSAV) is planning to construct five 8,000-TEU containerships. Delivery is slated for 2012-2013 and candidate yards for CSAV's orders include Korean Big 4 and Yangzijiang, Hudong-Zhonghua, Chengxi a...
2010-08-24 10:49:11
Tanker owners return to spot market
Some tanker owners have re-emerged in the spot market to trade idle vessels despite the continued crash in rates. VLCCs hauling cargoes from the Middle East to Asia were fetching around $16,400 per day on average, representing a 25% slip compared...
2010-08-24 08:26:24
Datang expands fleet
Chinese electricity generator Datang Power is planning to significantly expand its shipping fleet to stabilise freight costs and become more self sufficient. The Hong Kong and London listed company which operates more than 50 generating stations ...
2010-08-24 08:22:36
Speed up scrapping of single-hull tankers
Scrapping of older supertankers with single hulls will speed up as a collapse in rents leaves the vessels unable to find employment, Fearnley Consultants said. Daily returns from hauling two million-barrel cargoes of Middle East crude oil to Asia...
2010-08-23 09:43:39
Suezmax orders ‘defy logic’
Owners of suezmax tankers have been slammed by a leading transport bank for piling on newbuilding orders. Germany’s DVB Bank accuses owners of “defying fundamental logic”. It says the suezmax orderbook is equivalent to a “staggering...
2010-08-23 07:23:20
Handy prices to fall 20%
Handymax bulkers could shed one fifth of their value as slowing demand and accelerating newbuilding deliveries haunt shipowners, DVB Bank warns. It expects price tags in the sector to feel the heat over the next two years as a record number of ne...
2010-08-23 06:54:20
Navios hunting new ships
Fast-expanding dry bulk and logistics company Navios Maritime Holdings said its appetite for new ships had not been sated as it unveiled stronger than expected earnings for the second quarter of 2010. “We always like to acquire vessels at a good...
2010-08-20 08:29:05
Torm, ‘No Newbuildings’
Torm is hunting for new product tankers amid expectations of a fundamental improvement in the market from the start of next year. But the Copenhagen-listed company promises it will not be penning newbuildings given the present overcapacity issues...
2010-08-20 08:21:07
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