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Shipping
Idled boxships reach highest ever
The number of containerships being put on hold at sea continues to climb as the winter season is drawing near when cargo flows slacken. According to French maritime consultant AXS Alphaliner, the number of ships idled as of Oct. 12 numbered 568, ...
2009-10-15 07:26:38
Bulker tonnage glut worried
With a massive volume of bulker newbuildings due for completion in 2010, players on the global charter market are getting increasingly wary about ramifications of a possible tonnage oversupply. Initial signs of their reaction are evident in the t...
2009-10-14 08:24:33
Shipping firms in power play
South Korea’s shipping companies are collectively wielding a big stick against large shippers, insurance companies and foreign rival shipping firms. According to industry sources, the Korea Shipowners’ Association (KSA) representing shipping g...
2009-10-14 07:30:46
Warning of overcapacity
The annual container-shipping market review by Drewry Shipping Consultant suggests the market has bottomed out and expects global traffic to recover a little in the second half of the year. Yet it cautions that any improvement needs to be set agai...
2009-10-13 07:11:16
STX teams up with Hoegh LNG
STX Pan Ocean Co., South Korea's largest bulk-shipping line, said Thursday that it will launch a liquefied natural gas (LNG)-shipping business with a Norwegian shipping company. Along with Hoegh LNG AS, STX Pan Ocean will participate in an LNG tra...
2009-10-12 06:58:10
Owners criticize Stimulus Package
Shipping companies are leveling criticism at public supports for shipbuilders in many countries. They say fleet oversupply situation would deteriorate if states allocate public funds for newbuilding financing or direct aid for shipbuilders. Shi...
2009-10-12 06:18:23
Rickmers to switch boxship for VLOC
Germany’s containership owner Bertram Rickmers is mulling switching an existing newbuilding order to transport iron ore for Brazil’s Vale, foreign media reports Friday. The Hamburg-based owner is set to enter the very large ore carrier (VLOC) ...
2009-10-09 11:24:36
Hapag-Lloyds gets cash injection
Hapag-Lloyds' key shareholders are set to inject fresh funds into the struggling containership owner after it secured financing from the state last week. TUI and the Albert Ballin consortium will push EUR 923m (1.36bn) into Hapag, to strengthen it...
2009-10-09 08:10:10
Cautious optimism on recovery
Leading figures in Middle East shipping expressed confidence that the local industry was “weathering the storm” while speaking at the Money & Ships conference. “I am confident that recovery is on the way and we are much better off than we we...
2009-10-09 07:47:32
Vale VLOC orders hit 28
Vale's fleet expansion program now has 28 very large ore carriers (VLOCs) on order, in addition to capesize bulkers, a shipbroking house said Wednesday. Norway's Lorentzen & Stemoco said in a weekly report that the Brazilian miner's bulkers will h...
2009-10-08 07:30:15
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