Shipping
Stena exercise Suez pair
Stena Bulk has snapped up options on two suezmaxes at Samsung Heavy Industries. The move follows a firm order for two suezmaxes at the Korean yard in December last year. Delivery of the series is expected to be completed by the end of 2012, wi...
2010-03-09 07:43:06
China releases SSI
On February 26th 2010, China Center for International Economic Exchanges (CCIEE) released CCIEE-Shanghai Shipping Index (SSI) in Beijing. Mr Zhao Yifei, professor of Shanghai Jiaotong University said that the normal freight index may reflect shipp...
2010-03-08 12:05:37
Campbell inks 32K bulkers
Bahamian shipowner Campbell Shipping recently signed an order with Zhong Chuan Heavy Industry Shipbuilding of Zhoushan, China for two 32,000-dwt double-hull bulk carriers, with an option for two more. These ships, which will be classed by ABS and ...
2010-03-08 08:20:17
Palmali orders 10 vessels in Russia
Vice President of Palmali Rauf Aliyev said that Palmali Group of Companies (Turkey) ordered building of a series, consisting of 10 ships of Armada class (project RST 22) in Volgograd shipbuilding yard. Palmali specializes in transportation of cargo ...
2010-03-08 08:16:23
Maersk deeper into loss
AP Moller-Maersk plunged deeper into the red than feared in 2009 following a loss of over $2bn from its container line. Nils Andersen-led Maersk sank to a loss of $1.02bn in a “historically low rate environment”, overturning a profit of $3.46...
2010-03-05 08:24:42
Indian owners buying spree
Indian shipowners appear to be on a vessel acquisition spree, having purchased 27 vessels during calendar 2009, added another eight during the first two months of 2010, and are expecting to buy at least another 25 vessels in the remaining 10 months o...
2010-03-05 08:16:44
Dry bulk back on growth
After a relative slow couple of weeks with fairly stable, albeit slowly inching forward freight rates (with the exception of the larger capesize vessels), the Baltic Dry Index (BDI) Wednesday returned to a bullish mood. The BDI inched up by 119 p...
2010-03-05 07:37:12
CMA CGM pays for overoptimism
CMA CGM recently admitted it had underestimated the influence of global financial crisis, especially in container shipping field. As a result, CMA struggled around the gate of hell. The group is experiencing debt recombination, as much as $5.6bn....
2010-03-04 10:24:48
Go for secondhand bulkers
Despite many reported deals on new building orders, the most attractive ship investment in today’s dry bulk market is the second hand vessel. Nevertheless, the preference towards second hand vessels can be perceived as a growing optimism on the...
2010-03-04 09:04:33
d’Amico cuts newbuild price
d’Amico International Shipping has secured a lower price for two product tankers on order at Hyundai Mipo despite increasing the size of the vessels and delaying their delivery. Marco Fiori-led d’Amico has sliced nearly $10m from the cost of the ...
2010-03-04 08:28:43
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