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Cancellations closing on 600
Almost 600 newbuildings were struck from the world orderbook since the beginning of the global financial crisis, according to figures from Norwegian classification society Det Norske Veritas (DNV). DNV China boss Joerg Beiler says no fewer than 59...
2010-02-22 07:53:56
Union snaps up handy resale
Union Commercial of Greece has bought a resale handysize contract. Sources close to the deal confirm Union has paid $28.4m for a 32,000-dwt bulker newbuilding at Japan's Hakodate Dockyard. The vessel is due for prompt delivery this month and ...
2010-02-22 07:51:05
Product oil stored in tankers falls
The volume of refined oil products stored in tankers at sea was decreasing in recent weeks and is likely to trigger pressure on the clean tanker market, which is already struggling with supply shortage. Analysts said the market panic last year enc...
2010-02-19 12:01:30
KOTC to order aframaxes
Kuwait Oil Tanker Co (KOTC) is evaluating offers from South Korean shipyards to build two new aframax tankers. The newbuildings will form part of an on-going fleet development plan. Bader Al Otaibi, KOTC’s planning affairs group manager, say...
2010-02-19 08:34:59
African reviving canceliations
South African shipowner Grindrod could be about to reinstate order contracts for a trio of tankers it said it cancelled earlier this year. News of the development came as the owner revealed a large drop in full-year profit on the back of waning r...
2010-02-19 08:33:15
Warning of tanker's over fleet growth
Assessment of the tanker market’s fundamentals for the years to come is becoming increasingly difficult, as more and more factors are joining the equation. According to a latest report by Mcquilling Services, a US-based researcher and maritime cons...
2010-02-18 09:13:42
DryShips inks 76K BC pair
DryShips has inked orders for two panamax bulk carriers in China after biding its time about dipping into the company’s large war chest for acquisitions. The Athens-based bulker and deepwater drilling company only identified the builder as “a...
2010-02-18 08:24:15
NYK converts 9,300TEU to VLCC
Japan’s NYK Line has managed to scale back its containership newbuilding program by switching several orders to other ship types. A pair of 9,300-teu ships that were to have been built by Ishikawajima-Harima Heavy Industries has been replaced b...
2010-02-18 08:22:31
Bulker optimism in 2010
Jefferies & Co, New York’s investment bank, said that about 40% of bulk carrier orders which were scheduled to be delivered in 2010 has been cancelled, and accordingly, the newbuilding market will be booming again this year. An analyst from Jefferi...
2010-02-17 15:58:51
Tanker deliveries slow down
An estimated 300 tankers above 25,000-dwt are set to join the fleet this year, according to data compiled by EA Gibson. The London-based broker believes that some 25% of the 2010 scheduled deliveries will not be handed over this year. As a conseq...
2010-02-17 08:35:46
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