Shipping
CMA CGM returns to profit
CMA CGM said Monday that it turned an operating profit in the fourth quarter and expects a brighter revenue picture to come, foreign media reports. The French liner operator provided the glimpse of its financial health after seating its newly for...
2010-01-19 07:38:09
COSL finishes upgrading single-hullers
MT Binghai606, the last single hull tanker owned by China Oilfield Services Limited (COSL), was converted to double hull/double bottom tanker recently. The vessel passed test and inspections in all aspects, which means COSL has finished the upgra...
2010-01-15 15:47:29
Zim idles 10,000-teu newbuild
Zim has idled one of its flagship 10,000-teu newbuildings following its delivery from Hyundai Samho Heavy Industries in South Korea over the holiday period, it is claimed. The Zim Antwerp (built 2009) has yet to be assigned to a service and remai...
2010-01-15 07:03:13
Genmar eyes expansion opportunities
General Maritime is eyeing a 12-month window of opportunity to expand its tanker fleet before the market recovers, according to a leading US analyst. Peter Georgiopoulos-led Genmar may also look to tap shareholders to raise the necessary funds, sa...
2010-01-15 06:59:12
Asia-Europe rates recover
Freight rates in the Asia to Europe box trades are powering ahead as stronger demand catches both forwarders and shippers off guard, but are still less than half those that container lines were charging in the heady days of 2007. Recovery is at a...
2010-01-14 08:16:33
China warns of deep freeze
China has warned that expanding ice cover in northern China will have a “serious” impact on oil exploration and shipping. The deep freeze is also restricting activity in the Yellow Sea, where ice may reach 90 nautical miles from the coast by ...
2010-01-14 07:39:59
New high for Liberian registry
The Liberian registry has reached a new record number of ships at the end of 2009. The flag grew to 3,140 vessels of 97.2m gt, adding 215 ships and 10.5m gt last year. Scott Bergeron, head of US-based registry manager LISCR, said 2009 had been a ...
2010-01-14 07:36:54
CSIC shakes hands with IMC
China Shipbuilding Industry Corporation (CSIC) recently held a signing ceremony with IMC Group of Singapore to establish a joint-stock shipping company. Before the ceremony, Mr Li Changyin who is Chairman of CISC had a meeting with IMC Group Chair...
2010-01-13 14:14:15
STX fleet expansion plan
STX Pan Ocean has set aside more than $200m to swell its fleet in a new year. The South Korean shipping company is in the market for six ships and is considering newbuildings, according to a statement to the Singapore Stock Exchange on Tuesday. ...
2010-01-13 08:13:14
Dry bulk sector downgrade
A tsunami of dry-cargo newbuildings expected in the coming year has resulted in Arctic Securities downgrading the entire sector. Analyst Martin Sommerseth Jaer also dropped his rating on Golden Ocean and Diana Shipping amid fears the market will ...
2010-01-13 07:49:11
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