Polsteam gives orders full gas
A confident Polish operator is persevering with its orders for handysize and kamsarmax bulkers. Polish Steamship Co (Polsteam) says it is pressing ahead with the remainder of its massive newbuilding programme. Polsteam, which claims to have avo...
Oslo Marine delays orders and payment dates
Russian shipping entrepreneur Vitaly Arkhangelsky has negotiated delayed delivery and payment dates for Oslo Marine Group (OMG) newbuildings in The Netherlands and Croatia. Dutch shipbuilder Damen says it still hopes that the OMG orders at the yard f...
Thai player cancels quartet
Thoresen Thai has abandoned its handymax orders at an Indonesian yard because of heavy delays. Thai dry-bulk operator Thoresen Thai has walked away from a quartet of handymax bulkers it ordered at PT Pal Shipyard in Indonesia. Well-placed sources ...
SCI plans adding 40 more ships
Shipping Corporation of India (SCI) today said it plans to buy 40 more ships and double its shipping tonnage to 10 million tonnes by 2012. The company is also in talks with several Korean companies for setting up world-class shipbuilding yards. "O...
Oil tanker rates gaps widening
Amid plummeting freight rates for oil, petroleum product and LPG tankers, a gap of rates for crude oil tankers has become increasingly apparent depending on ship types and regions. Many of VLCC rates are falling below break-even points with VLCC rate...
GAC launches ship lay-up service
GAC (Gulf Agency Company) has launched GAC Ship Lay-up Solutions, a new service package to help owners/operators avoid non-profitable journeys, and reduce wear and tear, fuel consumption and insurance premiums during periods of low demand. The servic...
UASC to lay up more ships
UASC may be forced to take out more ships if the downturn deteriorates, according to deputy chief executive Jorn Hinge. Mr Hinge said UASC had already withdrawn four 2,000 teu vessels and five 2,800 teu vessels have been laid up “on and off”....
Relax & Confidence
The head of Chinese shipping giant China Ocean Shipping (Group) says the dry bulk market will recover by the second half of 2008, but remains less confident about containership prospects, partly because of America’s protectionist trade stance. Cosc...
Shipowners hope for reality check from Brussels
European Commission competition regulators have shown a clear understanding of market realities during the economic downturn, which shipowners hope will be extended to a new regulation covering consortia agreements between container lines. But lawyer...
Panamax bulker oversupply
A surplus of more than 500 panamax bulkers by 2011 is predicted by researchers at DVB Bank. Slowing demand and a growing volume of tonnage over the next two years will result in the widening supply and demand gap, says the German-Dutch transport s...
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