Shipping
Bulker market on correction mode
After the previous weeks’ rally, dry bulk freight rates have been heading down this week, as some analysts had predicted. The Baltic Dry Index (BDI) yesterday ended at 4,234 points, down by 106 with all sectors hit, apart from the Handysize Inde...
2009-11-27 06:51:34
Handysizes to sail through 2010
The handy sector is likely to fare better than other bulkers in the coming year, according to one of the best known handy names in the business. Klaus Nyborg, deputy chairman of Hong Kong’s Pacific Basin recently said that 49% of his fleet is al...
2009-11-26 07:10:28
Sanko cuts tonnage
Sanko Steamship's fleet size stood at 277 vessels, comprising 190 existing vessels and 87 newbuildings on order, as of Nov. 1, 2009, a drop of eight units from June 2009. The operator placed no newbuilding orders during that period. The reducti...
2009-11-25 07:25:57
Capesize rates jump
More Capesize time-charter contracts have started to be made amid the buoyant drybulk market, foreign media reports. According to market reports, a 2006-built 175,569-dwt vessel and a 2003-built 171,010-dwt vessel were fixed for 11-13 months at $4...
2009-11-25 07:19:01
Hanjin restores on Asia-Europe route
South Korea’s Hanjin Shipping will restore rates on cargo on the Asia-Europe route starting Dec. 14. The rate hike will be applied to all cargoes including reefer and special cargoes. The margin of increase will be $200/TEU and $400/FEU for c...
2009-11-25 07:16:10
Greek sells new Aframax
Greek shipowner Polys Haji-Ioannou appears to have sold one of a series of newbuilding tankers to Chinese owner. Chinese bunker player Brightoil Petroleum says it has acquired a 2009-built 107,500-dwt tanker for $52.5m. The ship was bought from Li...
2009-11-24 12:32:19
Germanish buys 3 Pax
H. Vogemann of Germany has expanded its fleet with the purchase of three panamax bulkers. The shipowner bought the 74,000-dwt trio Maria Salamon (built 2001), Willi Salamon and Gertrud Salamon (built 2000) from Eastern Media International (former...
2009-11-24 07:24:28
VLCC charter rates pick up
VLCC charter rates have begun to pick up at last. According to market reports, a double-hull vessel was taken at WS52.5 to haul crude oil from the Persian Gulf to China. This translates into a charter rate of around $37,000/day, higher than the b...
2009-11-24 07:10:48
COSCO gives up new yard project
China Ocean Shipping Co. (COSCO) has given up on its bid to undertake an integrated shipbuilding and international logistics project in Sangley Point in Cavite, the Philippines at an estimated cost of $5bn, but vowed to explore other opportunities in...
2009-11-24 07:08:44
CM Lemos behind Odense cape orders
CM Lemos has appeared as the shipowner behind a contract for two capesize bulkers at Odense Lindo shipyard in Denmark. The 180,000-dwt ships are set for delivery in the middle of next year. A director of the Lemos company, Nereus Shipping of Gree...
2009-11-23 06:49:58
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