Shipping
Idle boxships below 400
Idle containership numbers have dropped below 400 as laid-up capacity continues to decline. Presently 381 boxships are idle, down from 401 a fortnight ago, Alphaliner says. This represents 907,000-teu, or 6.8% of the total fleet capacity, aga...
2010-04-28 08:35:34
Half to go awry: Bulker orders
One in two dry-cargo newbuildings set for delivery this year will be delayed or cancelled, JP Morgan says. This slippage in the orderbook coupled with higher than expected demand will prevent overcapacity from denting rates until 2011, according ...
2010-04-28 07:33:47
SINOTRANS mired in huge debt
In general, Merger and acquisition may trigger more opportunities as well as challenges, especially among Chinese national enterprises. It is one years since the acquisition between China Changjiang National Shipping (Group) Corporation (CSC) and ...
2010-04-27 09:50:45
Alafouzos confirms Samsung orders
Greek shipping mogul Aristides Alafouzos has confirmed his return to the newbuilding market after a gap of around seven years. Alafouzos-controlled Argonaftis Investment, part of the Kathimerini publishing group, has paid $108.9m for twin tankers...
2010-04-27 08:37:25
VLCC prices keep rising
Rising interest among tanker buyers, particularly listed companies, continues to boost asset values in the sector. Clarksons now has a $110m price tag on a VLCC resale, an increase of $5m in a single week, according to its latest report. The ...
2010-04-27 08:28:39
Paragon orders 8 bulkers in China
Paragon Shipping will splash $111.5m on the construction of four bulker newbuildings, the company revealed Monday. The NYSE-listed shipowner said it has placed orders for two 37,200-dwt handysize and two 82,000-dwt dry bulk vessels at a Chinese s...
2010-04-27 08:27:01
Insolvent shipping firms, 'kicked out'
Korean government decided to liquidate about ten insolvent shipping companies below standards. The Ministry of Land, Transport, and Maritime Affairs (MLTM) of Korea announced on Apr. 25th that it will deregister insolvent shipping companies after ...
2010-04-26 14:57:20
Taiwanese welcome hot season
May is commonly considered as the hot season of shipping market. As a result, Taiwanese big 3 shipping tycoons, namely Yang Ming Line, Wan Hai Lines and Evergreen Group are preparing for May. General Manager Zhou Baizhi of Wan Hai Lines said that ...
2010-04-26 09:54:03
Wah Kwong shifts duo to handies
Wah Kwong Shipping is making a return to the handysize-bulker sector by switching two of its existing supramax contracts at Chengxi Shipyard. Company boss George Chao confirms he has converted the pair of 57,000-dwt Diamond-type vessels to 35,000-dwt...
2010-04-26 07:18:12
Kristian Jebsens cancels bulker duo
Kristian Jebsens Rederi in Bergen has cancelled an order for two specialized 33,000-dwt bulkers at the Mingde shipyard in China due to extensive delays. According to the Norwegian daily Dagens Naeringsliv, Jebsen has been paid back all instalment...
2010-04-26 07:14:48
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