Seaspan predicts cancellations as Evergreen slumps
ORDERS for big containerships will be cancelled, delayed, or converted to other ship types if the industry downturn is prolonged, Seaspan chief executive Gerry Wang predicted as the box trades took another pummelling and Evergreen joined the casualty...
Petrobras Won't Delay 49-Tanker Newbuilding Plan
The transport unit of Petroleo Brasileiro SA will be able to maintain a 49-ship fleet expansion program because it has sufficient financing from a government fund and can ignore the world credit crunch, the unit's president said. Brazil's Merchant Ma...
Japanese operators expect dry-bulk recovery
Japan's big 3 operators, Nippon Yusen Kaisha (NYK), Mitsui OSK Lines (MOL) and Kawasaki Kisen Kaisha (K Line), announced their first-half year business results on October 27 and revealed their own premises for the dry-bulk market for the second half ...
Hanjin Shipping receives latest-model boxship
South Korea’s Hanjin Shipping puts a state-of-the-art 4,300-teu containership ‘Hanjin Kingston’ into Asia-Europe line. Hanjin Kingston was christened at Samsung Heavy Industries in Geoje Island Thursday. Hanjin Shipping said the ship will be...
SCI floats global tender for VLCC
State-run Shipping Corp. of India Ltd, or SCI, has asked for bids to buy four oil tankers, which currently cost $160 million (about Rs780 crore) each, to meet rising demand to carry crude into the country. The expansion plans of many refineries in...
A German billionaire whose house in Switzerland looks like the bridge of an ocean liner now has some real ships to to deal with. TUI AG's Supervisory Board has approved the sale of Hapag-Lloyd AG. The bid will be awarded to the Hamburg-led Albert...
Exxon to bid for LNG Carriers
Exxon Mobil Corp., operator of a planned US$11 billion liquefied natural gas project in Papua New Guinea, said it will invite shipyards and vessel owners to take part in a tender for the supply of tankers to transport the fuel. Pre-qualification f...
Hanjin Shipping to practice environmentally-friendly managem...
While the aviation and marine transportation industry suffered from high oil prices in the first half of this year, Hanjin Shipping took this as a momentum to practice so called ‘Green Management’. It improved its profitability by reducing the...
The World's Largest Product Tanker Shipping Company
Danish container-shipping company A.P. Moller-Maersk A/S announced on August 27th that it has made a public offer for all shares in Swedish marine transportation company Brostrom AB. Brostrom, headquarterd in Sweden, focuses on industrial product...
Korean shipping companies thrive in coal shipping market in ...
Korean shipping companies are taking an aggressive attitude to contract with Korean electric power companies for shipping of coal to be used for generating electricity. Japanese shipping companies have dominated the market for the past couple of y...
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