Shipping
Dry bulk losing streak goes on
Dry-cargo rates have experienced their longest losing streak in nearly half a decade following another day of declines for the Baltic Dry Index. Continued pressure from newbuilding arrivals, slumping steel prices and seasonal changes have all con...
2010-07-01 08:25:24
Sinotrans inks panamax BC's
Hong Kong’s Sinotrans Shipping has splashed out over $125m on a quartet of panamax bulker newbuildings at two Chinese yards. The diversified shipowner is spending $31.3m on each of the 76,000-dwt units, an announcement to the Hong Kong Stock Ex...
2010-07-01 08:21:52
COSCO: Zero risk on newbuilding
Having ordered 14 ships last year, COSCO Shipping ordered 10 ships again this year. Secretary Xue Jundong of COSCO Shipping expressed his satisfaction and said the newbuilding plan meant zero risk now. ‘We gained amazing newbuilding price. T...
2010-06-30 09:50:24
Indonesian to buy $110m ships
Indonesian owner Berlian Laju Tanker (BLT) has set aside $110m to add more vessels to its fleet. Finance director Kevin Wong was quoted as saying the cash would go towards bringing in another 12 ships in the next two years. BLT is known to ha...
2010-06-30 08:18:39
BDI plummets to lowest
The Baltic Exchange Dry Index (BDI) has slumped to a near nine month low on continuing worries about a slowdown in China. On Monday the BDI fell another 19 points to 2,482 points in its 23rd consecutive decline to remain at its lowest since 6 Oct...
2010-06-30 08:16:37
China to offer subsidies for single huller
Chinese government issued policy to provide financial subsidies for old ships especially single hull tankers’ quitting in advance until June 30th 2012. According to details, Chinese old ships above 1000 grt and single hull tankers above 600 dwt ...
2010-06-29 10:34:36
China faces cruise market booming
On June 24th, Seatrade All Asia Cruise Convention 2010 was held in Suzhou China. Experts indicated that in 2010 about 1.5m passengers would travel by cruise in Asia, increased by 0.4m passengers than that in 2005. As us introduced, the cruise s...
2010-06-29 10:33:20
COSCO: Old type ships became bottleneck
COSCO Shipping recently convened shareholder meeting to collect CNY4.0bn ($588m) for newbuilding plan. Secretary Xue Jundong of COSCO Shipping expressed the old ship types had become bottleneck for the company’s growth. As a result, the company...
2010-06-29 10:32:33
HHI pens SK capes
SK Shipping boosted to six its capesize-bulker newbuilding tally at domestic yards. The South Korean tanker and bulker owner has ordered two more capesizes at Hyundai Heavy Industries. The earlier four were booked at Sungdong Shipbuilding & M...
2010-06-28 08:04:02
Stevenson orders more tankers
Craig Stevenson has followed up a $270m suezmax splurge with another order for six tankers. The former head of OMI Corp has brought his private equity firm’s orderbook up to eight suezmaxes and two products tankers but remains mum on much of th...
2010-06-28 07:53:53
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