Shipping
Bullker market faces turning point
The bulker carrier market was hit by severe blow since global financial crisis broke out. Compare to boxship and tanker market, the influence is not so great. However, uncertainty still exists in bulk carrier market. Hereby experts said the turni...
2010-06-14 09:50:54
Boxship orders resume
The drought in containership orders has finally broken, with some Far Eastern players seeking to order vessels before prices rise or berths fill up. South Korea’s STX Pan Ocean and Singapore-based Pacific International Lines (PIL) have inked se...
2010-06-14 08:24:38
COSCO Shipping shares slight profit
Analysts thought the shipping market had entered hot season. The freight rate would climb up gradually. COSCO Shipping has showed signs of rebounding. Secretary Xue Jundong of COSCO Shipping expressed it’s no special feeling on it. He said now t...
2010-06-11 09:28:15
Silence for hot season
By the end of May, the amount of global idled boxships has reached 263 ships of 549,000TEU, which hit the lowest point since 17 months ago. Lots of shipowners such as COSCO Container Lines and American President Lines have release all idled fleet...
2010-06-11 09:27:14
TopShips to order newbuilds
TopShips could be about to make a move in the newbuilding market as prices offer better value than resales, says chief executive Evangelos Pistiolis. “We have done a lot of work over the last two years. Just before the crisis I started to sell ...
2010-06-11 08:24:33
Three-way teaming for green technology
Shipowners NYK and A.P. Moller-Maersk and classification society DNV have agreed to share ideas on emission-reduction technologies and initiatives. Exchanging knowledge in these areas aims to enable more cost-effective solutions and more efficien...
2010-06-11 08:18:01
Big 3 shipping powers
According to N. Cotzias statistics, Greece is still the largest shipping country in terms of dry/bulk cargo and tanker fleet capacity. China ranks 3rd while Japan occupies 2nd place. Furthermore, Greece is the largest buyer for dry/bulk cargo ship...
2010-06-10 10:36:31
Fredriksen looking for acquisitions
John Fredriksen is said to be hoarding cash and liquid assets in a bid to snap up distressed shipping companies in any future downturn. The shipping tycoon told the Financial Times that his companies had stepped up the search for potential target...
2010-06-10 08:12:26
Diana snaps up newbuild resale
Greece-based dry bulk owner Diana Shipping has bought two 3,400-teu boxship newbuildings in a resale from German yard group ThyssenKrupp Marine Systems, brokers said. The vessels were sold for €37m each ($44.5m), market sources said. The ships, whi...
2010-06-10 08:09:49
Georgiopoulos buys 15 ships
Peter Georgiopoulos has launched an ambitious wet-and-dry combination purchase worth $886m in a 15-ship deal. The announcements comprise the Georgiopoulos-founded General Maritime’s $620m purchase of seven Metrostar tankers, Genco Shipping & Tra...
2010-06-10 08:07:39
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