Shipping
Indonesian cash splash on newbuildings
Indonesian owner Trada Maritime has lined up a $200m spend on new ships this year. The floating storage and tanker specialist will put the cash towards a combination of 20 new vessels and FSO conversions, finance director Adrian Sjamsul said, acc...
2010-01-12 07:51:48
Panamax boxship value halved
The value of a panamax containership was almost cut in half last year according to Clarksons which today ended a 16 months break in its publication of ship values. Five-year-old VLCCs and resales each lost around a quarter of their price tag over t...
2010-01-12 07:48:41
Danish orderbook shrinks 30%
The orderbook of Danish shipping companies has decreased by 30 percent from the beginning of last year until the beginning of this year. The newbuilding program is today approximately 275 ships with just under 11 million DWT. The newbuilding prog...
2010-01-12 07:36:46
Thanks for cold comfort
The freezing conditions in recent weeks across much of the northern hemisphere have brought welcome relief to one group that saw lackluster earnings or losses throughout 2009 - the world's oil tanker owners, Financial Times reports. Harsh winter c...
2010-01-12 07:30:06
Sovcomflot invests $1.6bn in offshore
Russia’s state-owned Sovcomflot plans to invest at least $1.6bn over the next six years to significantly expand its offshore and specialist upstream oil-and-gas shipping-service operations to complement its core tanker business. The tanker gian...
2010-01-11 07:29:26
Pacific key to box sector recovery
Growth is forecast to return to the main east-west container trade lanes this year, but actual volumes will still be way down from the bumper numbers of 2007 after two years of contraction that has brought many owners and operators to the brink of ba...
2010-01-08 07:05:49
Shipping majors into repair biz
Indian shipping companies, such as Great Offshore, Chowgule Ports and Infrastructure and Bharati Shipyard, are investing big bucks in creating repair facilities, a market pegged at around Rs 2,000 crore annually. International firms are also keen to ...
2010-01-08 06:58:07
ISC buys stake in mini-bulkers
International Shipholding Corp (ISC) threw down $6.25m to buy a stake in a mini-bulker joint venture, the US shipowner said Wednesday. The Mobile-based outfit said it now owns 25% of Oslo Bulk Shipping, which ordered an octet of 8,000-dwt bulkers ...
2010-01-07 08:17:14
K Line return to black
K Line will bounce back from the worst financial results in its history to return to profitability in the next financial year, its president says. Huge spending cuts and the shedding of around 50 ships will help the Japanese giant return to the b...
2010-01-06 06:25:23
NYK cuts container tonnage
A radical change of course planned by top Japanese shipowner NYK will lead to an increased focus on bulk shipping and drastic cuts to its container line, foreign media reports. NYK is to focus its investment on bulk carriers and energy related to...
2010-01-06 06:23:25
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