Shipping
Deadline for CMA CGM debt restructuring
French container line CMA CGM has set December 15 as the new deadline for reaching agreement with its banks on a restructuring of its $5.6bn debt. The group, which had originally announced that it expected to reach agreement by the middle of this ...
2009-11-17 07:15:24
Rina releases vessel lay-up guidelines
Italian ship classification society Rina has unveiled a new facility to help stricken owners lay up their ships until sunnier days return. In a statement, Rina said its newly published guidelines would “help shipowners identify and secure safe a...
2009-11-17 07:13:25
China yards hopeful on faster phase-out
Chinese shipyards are expecting a boost from the decision by the country’s government to accelerate the phase-out of single-hull tankers operating in the domestic tanker trades. According to local reports, the Ministry of Transport has brought f...
2009-11-16 06:57:47
Indian to order a geared post-panamax
Indian dry-bulk owner the M Pallonji group is looking to order a newbuilding as it continues to expand its fleet. The Mumbai-based engineering outfit plans to book a geared post-panamax bulker of 92,000 dwt to 95,000 dwt in the next few months for...
2009-11-16 06:55:07
ISC buys three newbuilds.
International Shipholding Corp (ISC) said Thursday that it has bought a trio of newbuilding bulkers for a total delivered cost of $90m. The deal also gives the US shipowner an option for a fourth 36,000-dwt vessel at South Korea's Hyundai Mipo Do...
2009-11-13 11:33:59
Danaos converts orders
Danaos Corp could switch containership newbuildings to other sizes or even to bulkers. Chief executive John Coustas also said the company is preparing to raise new capital through by issuing equity or through some type of hybrid funding at Thursd...
2009-11-13 11:31:25
STX confirm $880m orders
South Korea’s leading bulk operator STX Pan Ocean has finally confirmed $880m order for eight VLOCs linked to its long-term chartering contract with Brazilian mining giant Vale. Furthere more, the Korean owner announced that the 400,000-dwt behe...
2009-11-13 05:34:08
Shipowners face choppy seas
Container shipping lines, which expanded their capacity to match growing cargo demand during boom times, are now in a tight spot as the global trade slowdown has struck containerised shipments, said marine experts. The slowdown in shipping trade i...
2009-11-13 05:33:15
Boxship sales rise
Boxship sale and purchase activity picked up in the third quarter after stalling earlier this year as the freight and charter markets collapsed. Secondhand prices, however, continue to slide. Clarkson Research Services reports in its Container Int...
2009-11-13 05:32:11
On-time delivery rate : 60%
The ‘excessive supply rumor’ in the shipping industry, stemming from massive delivery plans for new ships in 2010, is warning after a report revealed that around 40% of newly ordered ships have not been delivered because of cancelled or delayed s...
2009-11-12 12:59:14
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