Shipping
Stolt open to cancellations
Stolt-Nielsen has quietly picked up a second-hand chemical tanker. But the shipowner remains to be convinced eight newbuildings on order at SLS in South Korea will make it into the water. In its fourth quarter report released Thursday Stolt says ...
2010-01-29 08:30:45
Overcapacity triggers freight depression
With the motivation of developing countries, international trade began to recover. But about 10% of containerships are still being idled due to huge number of newly-built containerships flooding into market. According to Drewry report, the loss of...
2010-01-29 07:15:55
Economou eyes boxship biz
Greek shipowner George Economou admitted a connection with the Hanjin Heavy Industries & Construction-built containership CMA CGM Kessel, which was abruptly sold by the South Korean builder in a wrangle with French liner giant CMA CGM. Mr Economo...
2010-01-28 08:00:19
Shipbreaking hits 10-year high
Amid prolonged shipping downturn, the number of ships sold for demolition in 2009 has hit the highest level in ten years since 1999. According to Clarkson Research Services data, a total of 952 vessels totaling 29.88m dwt were sold for scrap in 20...
2010-01-27 06:48:38
SCI to buy newbuilding resale
India’s state-owned Shipping Corp of India (SCI) is in talks with Greece’s Ionia Management to buy a 51,000-dwt medium-range (MR) product tanker, hull number 1299, under construction at STX Offshore & Shipbuilding in South Korea. Ionia says no...
2010-01-26 14:46:32
Daewoo-invested NIDAS inks $100m COA
Korean shipbuilder Daewoo Shipbuilding & Marine Engineering said Tuesday that NIDAS International Enterprises, Nigeria’s state-owned JV shipping company between Nigerian National Petroleum Corporation (NNPC) and Daewoo, has recently signed a $100m ...
2010-01-26 11:02:00
Pakistani eyes first orders
Senior officials at Pakistan National Shipping Corp (PNSC) confirm it is pushing ahead with plans to modernize its fleet but refuse to comment on the possible purchase of two aframax tankers. PNSC is said to have picked up the 107,000-dwt sistersh...
2010-01-26 08:28:35
Only half will be delivered
Only half of the 1,400 bulkers on order for delivery in 2010 will be actually delivered this year, two leading brokers forecast. Inexperienced shipyards, a lack of available finance to fund expansion plans and a desperate bid to slow down the pac...
2010-01-25 08:15:18
COSCO estimates BDI to hit 4,000
China Ocean Shipping (Group) Company (COSCO) estimates the dry bulk shipping market will be better against last year, with Baltic Dry Index (BDI) rising as well. The group even expects BDI may dash for 4,000 points this year. Although the overcap...
2010-01-25 07:04:33
Cruise market focuses on Asia
“2009-2010 China Cruise Industry Development Report” was released by China Cruise and Yacht Industry Association on January 21st, in Shanghai, China. This is the second authorized report of cruise industry rolled out in China. The report po...
2010-01-22 17:22:24
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