Shipping
Idle capesize numbers fall dramatically
The number of capesizes without employment has dropped by more than two thirds in the last three months, with 30 of the vessels now idling at ports around the world. But a different story has emerged for older and smaller bulk carriers, or those ...
2009-02-26 08:01:25
Almost quarter of reefer fleet idle
Almost 25% of the global reefer fleet is inactive, according to data from Lloyd’s Maritime Intelligence Unit. Some 342 ships, with a combined dwt of 684,373 tonnes, of a total fleet of 1,407 vessels are inactive or have not reported movement fo...
2009-02-26 07:49:21
Restructuring first: Shipping, South Korea
South Korea plans to give aid to its ailing shipping industry after restructuring it first. The government is now devising a scheme to get domestic financial institutions or enterprises to be able to legally purchase the ships which would be put o...
2009-02-26 06:58:11
New standard for ship prices
Hamburg shipbrokers want to establish a new standard for the determination of ship prices to prevent a downward spiral of containership prices caused by distressed sales. In a virtually illiquid market punctuated by just a handful of forced dispo...
2009-02-25 10:05:41
Capesize rate hits new high
A Capesize bulker was chartered on the spot market at $58,750/day for a Brazil-China voyage, the highest so far this year. On the London market on Feb. 19, the average Capesize charter rate on the world's four key lanes climbed to $38,741/day, co...
2009-02-24 07:48:35
VLCC market will suffer next
DVB Bank says the “vulnerable” very large crude carrier sector will be the next experience a significant downturn, as tonne-mile demand drops and a “deluge” of 70 new tankers enter trades in 2009. Instead the global fleet of 520 VLCCs will be...
2009-02-24 07:44:23
Bailout plan for shipping: Korean
In emergency economy meeting presided over by President Lee Myung-bak last week, the shipping industry emerged as the next target after the construction and shipbuilding industries, where government-supervised and creditor-led restructuring efforts h...
2009-02-24 07:22:51
Revival of Brazil iron ore cargoes lifts rates hopes
European steel mills are booking capesize vessels to ship iron ore from Brazil for the first time since October, brokers have reported, boosting hopes of a sustained recovery in bulk carrier freight rates. ArcelorMittal was among those mills that ...
2009-02-23 07:35:48
Cosco boss hails stimulus plans
Stimulus plans launched by the Chinese, US and European governments over the past few months are beginning to buoy demand and lift the troubled dry bulk market, the head of China’s largest shipping company said. But Wei Jiafu, China Ocean Shipping ...
2009-02-23 07:26:56
New Delhi snubs domestic owners
India's shipowners are on their own after the government ignored their pleas for a financial aid package to help them through these critical economic times. It is a disappointment for owners after their hopes were raised four years ago. The much-t...
2009-02-23 07:17:11
Start  Prev  461  462  463  464  465  466  467  468  469  470  Next  End