Dry bulk market shows signs of early recovery
With the Dry Bulk Index (BDI), which tracks the cost of hauling commodities like iron ore and coal, posting a healthy number of consecutive upward sessions, optimism seems to be returning at the dry bulk shipping sector, which has been plagued by the...
Nobody orders boxship: Q4 2008
According to marine consulting firm, AXS-Alphaliner, there were no containership newbuildings ordered in the fourth quarter (October-December) of 2008. "It is the first time in the last two decades that no containership orders were recorded in a w...
CSG to set up shipping firm with Shougang
China Shipping and major Chinese steelmaker Shougang Concord Steel have agreed to establish a joint shipping company. The projected joint venture will engage in the transportation of steel products from China to Southeast Asian markets. The joint...
Cherry-picking charterers seek shorter deals
Maersk Broker said “cherry-picking” charterers would focus on period deals of around 12-24 months for the rest of 2009, as they replaced expensive ships with modern and cheaper supramax and panamax bulk carriers at daily rates of around $10,000 t...
World’s containership shipping capacity will exceed 14 mil...
France’s shipping advisory organization AXS-Alphaliner pointed out on the recent report published in Paris, current total shipping capacity of containership worldwide has already reached 13 million TEU which includes the shipping capacity of 550,00...
Car carriers face increasing lay-ups
Shipowners face the prospect of placing vehicle carrier newbuildings directly into lay-up as new car sales slump, with those that ordered tonnage on a speculative basis during the recent boom staring at a miserable future unless they can wriggle out ...
Dry bulk spot rates to improve slightly: 1st Half
The US investment bank, Oppenheimer & Company said that weak demand will see dry bulk spot rates rise slightly above break even levels in the first half of 2009, which has downgraded forecasts for the troubled sector. Oppenheimer in a report on the s...
K Line to purchase VLCC newbuild
Kawasaki Kisen Kaisha (K Line) is said to be buying a newbuilding VLCC due in June from Imabari Shipbuilding. Brokers report Friday that the Japanese owner and operator is paying $110m for the vessel, which is under construction at Imabari's yard...
Oil traders seek another 10 supertankers for storage
Oil traders are seeking as many as 10 supertankers to store crude, potentially taking the amount hoarded at sea to almost five days of European Union demand, according to Frontline Ltd., the largest owner of the vessels. About 25 of the carriers, eac...
DSME delivers Q-Max
Qatari operator Qatar Gas Transport Co. (QGTC) announced recently that it has taken delivery of the Lijmiliya, the world's largest LNG carrier built by Daewoo Shipbuilding & Marine Engineering (DSME). The newbuilding is a 263,000-cbm mega-ship ca...
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