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Shipping
Capesize sold at price below $50m
Cutting-edge Capesize bulkers are being sold on the market for prices under $50 million. According to an announcement by NASDAQ-listed Greek shipowner OceanFreight, it has purchased a 180,000-dwt ship built in 2005 for $49.5 million. Delivery of the ...
2009-10-08 07:24:28
Louka Katseli heads Greek shipping
Louka Katseli, a professor of economics, has been sworn in as Minister of Economics, Competitiveness and Shipping in the newly-formed Greek centre-left government of Prime Minister George Papandreou, local media reports. Shipping circles have voic...
2009-10-08 07:20:10
Debut of new container line
Amid the depths of arguably the worst box recession in history a group of pioneers have gathered in Europe to found a new container concern. The Containership Company (TCC) is the name of a new company set up in Copenhagen, which will pick up and...
2009-10-08 07:16:55
Stolt to cancel two more
Stolt-Nielsen is ready to cancel its remaining two 44,000-dwt chemical tankers on order at South Korea’s SLS Shipbuilding due to continued delays in construction of the vessels. The shipowner, which has already axed the first two ships of the se...
2009-10-07 07:36:51
Ancora eyes five new ships
Ancora Indonesia Resources said it will buy five new vessels to boost its bulker subsidiary Ancora Shipping. The coal transport unit already has five ships, local media reported. The quintet of new purchases will cost around IDR 125bn ($12.5m) and...
2009-10-07 07:34:08
Korea Line sells handysize
Korea Line Corp has trimmed its fleet with the sale of a handysize bulker, brokers say. The South Korean shipowner is said to have earned around $14.8m from the deal with a Greek owner. Elmar Shipping is being tipped as the buyer of the vessel. ...
2009-10-07 07:30:59
Chinese hunting resales
Chinese shipping circles are awash with talk that the country's major state-players are set to embark on a spending spree, foreign media reports. There were persistent reports ahead of China's Mid-Autumn Festival break, which is now underway, that...
2009-10-07 07:20:55
NAT buys suezmax for $51.5m
Nordic American Tanker Shipping is using all cash to buy its 17th suezmax. The NYSE-listed tanker owner said Monday that it is paying $51.5m to buy a 2002-built ship. Nordic American did not identify the double-hull tanker, except to say that it w...
2009-10-06 07:30:42
VLCC S&P talks gaining momentum
Negotiations for the sale and purchase of VLCCs which have been suffering from thin trading conditions of late have been manifesting activity again since the turn of September. Seven ships were reportedly traded last month, with the vessels due t...
2009-10-06 07:28:21
Lay up more...
Container lines need to boost revenue 20 percent and mothball more ships to end losses caused by slumping world trade and overcapacity, according to industry adviser Marsoft Inc. "It is imperative for the liner industry to abandon the price war and r...
2009-10-06 07:11:18
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