Shipping
Owners snapping up coal carriers
Uncertainty was the key word in the Chinese sale-and-purchase (S&P) market after the recent national holiday, claim brokers. But while more modern tonnage continued to be hit by the slump over the past two weeks, there were signs of a minor recove...
2009-10-21 00:28:03
Chinese miner into shipowning
A government push to develop mines in the north of China has pulled in a new player. An ambitious Shanxi-based coal-mining outfit has reacted to government moves to develop China's northern mining operations by going into shipowning. Shanxi Coal G...
2009-10-21 00:25:28
MOL and Baosteel closer
Japan’s Mitsui O.S.K. Lines, Ltd. (MOL) has announced an agreement with China’s Baosteel Group Corporation to further strengthen the companies’ cooperative relationship. The agreement was reached at a meeting last week between MOL President...
2009-10-21 00:21:33
Stolt-Nielsen cuts third tanker
Stolt-Nielsen has cancelled third tanker on order at SLS Shipbuilding in South Korea. Oslo-listed Stolt has cancelled a third 44,000-dwt vessel at the yard due to high-profile delivery delays. The ship, which was to be operated in a joint venture ...
2009-10-20 07:42:43
Evergreen to order 100 ships
Taiwan's Evergreen Marine plans to order 100 containerships in 2010 to expand its owned fleet to nearly 300, Evergreen founder Chang Jung-fa said in an interview on Sunday. Chang told a local newspaper that he hopes to realize the goal of making ...
2009-10-20 07:13:00
Tanker scrapping soars
While fleet oversupply situation is ongoing, tanker scrappings are expected to remarkably increase as many single-hull tankers face demolition age in 2010. The tankers scrapped in September numbered 19 ships totaling 1.54m dwt, bringing the total ...
2009-10-19 11:17:54
Tanker orders hit 30-year low
Paris-based shipbroker Barry Rogliano Salles (BRS) said the tanker sector faces the biggest annual order drop for 30 years. So far in 2009, contracting activity is down 87% by deadweight. According to BRS, "In the first nine months of this year, j...
2009-10-19 06:42:44
Euroseas eyeing boxships
Euroseas may make its next purchase in the containership sector, an Oppenheimer analyst said Thursday, foreign media reports. Scott Burk said that although the Nasdaq-listed owner's last three acquisitions have been bulkers, company management now...
2009-10-16 07:52:26
Bulker overcapacity to hit 100%
Two vessels will be competing for every job in both the supramax and capesize bulker markets if there is no change to present scrapping and newbuilding cancellation patterns, a leading Greek shipbroker warned, foreign media reports. Supramaxes fac...
2009-10-16 07:37:41
Cut capacity on Liners
Hapag Lloyd and CMA CGM should be forced to cut their fleet capacity in return for government financial support, Danish shipowners have told the European Commission, foreign media reported. The suggestion to directly link state support with fleet ...
2009-10-15 07:43:36
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