Time for reforming: Shipping
Amid the ever-growing clamour for reform and tighter regulation of financial markets in the wake of the global credit crunch, shipping has - true to form - quietly slipped under the radar. For all the gripes about questionable practices in the sec...
Molaris denies suezmax project
The former Excel Maritime boss is rejecting suggestions that he is involved in a project to buy five tankers. Former Excel Maritime boss Stamatis Molaris is categorically denying he is fronting a new project to buy five modern suezmax tankers with...
Greek family returns to dry bulk
Low vessel values are luring the Kallianis family back into shipping. The Kallianis family of Greece has made a comeback in shipping after a seven-year absence to take advantage of falling bulker prices. Captain Dimitris Kallianis has formed a new...
Vale continues capes buying
Vale is said to have bought another capesize bulker as the charterer apparently continues to take advantage of lower vessel prices to build up its owned fleet. The Brazilian miner has signed up to pay $36m for the 179,000-dwt Akagisan (ex-Asakasan, b...
MOL halts new orders
Mitsui OSK Lines halted new orders for the ships as demand for steel drops. Mr Masafumi Yasuoka a senior executive officer at the shipping line in an interview in Tokyo said that the company is scrapping up to seven iron ore carriers and may not rene...
Navios avoids option to buy newbuilding
Navios Maritime Partners said Thursday that it will eschew an option to buy a capesize newbuilding from its parent. The Navios Maritime Holdings spin-off said its decision came "in light of the unfavourable conditions in the capital markets." The ...
11.3% of global containerships on standby
According to a survey conducted by French maritime consultant AXS Alphaliner, there were 485 containerships with total capacity of 1.42 million TEUs on hold, including moored at ports and anchorages worldwide, as of March 30. The containerships put o...
ASI invests in 10 vessels
Anchor Ship Investment (ASI), which operates Japan's largest ship investment fund, projects that its ship investments will reach 10 units shortly. The company has been advancing the selection of ships to invest in since it formed the No.1 fund totali...
Worse is yet to come for container lines
Hamburg Süd president Ottmar Gast has warned the container industry to prepare for much worse to come as it struggles to get to grips with what he dubbed an “unprecedented” crisis. During a visit to the German company’s largest transhipme...
Dry bulk recovery has begun
The worst is over for the dry bulk shipping sector according to Asian-based owner and operator Nobu Su, who has rebuilt his fleet to capitalise from any upswing by chartering more than 50 bulk carriers. The influential Taiwanese owner of 50-year-o...
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