Goldenport buys boxship
Goldenport Holdings has agreed to purchase an unnamed containership for $10.5m, the London-listed owner said Monday. The ship is being acquired from Panama registered Cosmo Shipholding and is expected to be delivered within March 2009. The acquisi...
Two more Asian liners close operations
Two more Asian liners have ceased operating amid the harsh operating environment. Hong Kong start up Great Ocean Container Lines, not even a year old, has been wound up with bankruptcy underway. Meanwhile, Singapore's intra-Asia specialist New Econ L...
Nordic American earmarks $107m for ship acquisitions
Suezmax specialist Nordic American Tanker Shipping has a warchest of $107m in cash and undrawn $500m credit facility to fuel its desire for acquisitions. The Bermuda-based owner has acquisitions under review to boost its fleet of tankers from 12 by t...
NOL & Zim settle: delay and cut
Another batch of liner operators are negotiating delays to their newbuilding and charter commitments. Neptune Orient Lines (NOL) has emerged as the latest to successfully delay deliveries, while Israeli operator Zim is also scaling back its massiv...
Ship values rise
Strengthening bulker freight rates continue to have a positive knock-on effect on secondhand vessel values. Capesize values are on the risePrices for a five-year-old capesize have risen by $4.3m to $48.5m in the past week, according to the latest Bal...
Idle containerships near 10% of fleet
Close to 10% of the world’s container vessels are currently unemployed as owners and operators take drastic steps to bring supply into line with shrinking cargo demand. New Lloyd’s MIU figures updated recently show that 427 boxships are idle,...
Tanker market warning
Prospects for operators of oil, chemical, LPG and LNG tankers in 2009 looks increasingly bleak, as newly built ships continue to be delivered from shipyards at a time when market demand is diminishing and freight rates are tumbling, according to the ...
Bulker values rise as rates strengthen
Strengthening bulker freight rates continue to have a positive knock-on effect on secondhand vessel values. Prices for a five-year-old capesize have risen by $4.3m to $48.5m in the past week, according to the latest Baltic Sale & Purchase Assessme...
Laid-up capesizes diminish to 60
The number of capesize bulkers that had to be laid up due to the sudden reduction in transport demand is now on a downward trend. This is largely attributable to the recovery in transport demand for China-bound cargoes from Brazil. According to J...
INSA asks New Delhi for emergency funding
The Indian National Shipowners' Association (INSA) has sought government help to set up a 100-billion-rupee fund to help finance new vessel buys, an official from the industry body said Tuesday. Finance streams have been drying up due to the globa...
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