Shipping
Bulker cancellations to hit 40%
According to industry players, bulker fleet oversupply situation is expected to continue and freight rates are likely to be kept subdued until 2012. A shipping analyst said a considerable number of shipowners have been quick in cancelling bulker n...
2009-09-29 13:43:31
Russian builds 30 newbuildings
Russian steel oligarch Vladimir Lisin’s holding company has launched a big newbuilding spree for fleet renewal. Universal Cargo Logistics Holding (UCLH), which has busily been acquiring shipping companies and ports in the last few years, will re...
2009-09-29 07:41:11
Tanker rally around the corner
London broker ICAP Shipping says a tanker rally is just around the corner. Leading research analyst James Leake told a large group of Greek owners gathered at the Yacht Club of Greece in Athens that Chinese oil demand could rise faster than antici...
2009-09-28 07:17:26
Grand Union rijigs orders
Greece’s Grand Union is making changes to its tanker and bulker newbuilding portfolios, though the owner declines to comment on the number of wet and dry tonnage it will eventually take on and when they will be delivered. Sources close to Grand ...
2009-09-25 15:27:43
Navios buys newbuild resale
Navios Maritime continued to expand its fleet with the buying of another newbuilding Thursday. NYSE-listed Navios has paid $36.2m for a handymax bulker which will be delivered immediately from a new Japanese shipyard. It says the purchase of the 5...
2009-09-25 07:01:29
Zim delays 10,000-teu quartet
Zim has delayed delivery of four containership newbuildings in South Korea. The owner says a 10,000-teu quartet scheduled to be delivered by Hyundai Samho Heavy Industries next year has been pushed back until 2014 and 2015. This latest move, wh...
2009-09-25 06:43:01
Glenda cancels another
D’Amico Shipping and Glencore have cancelled a third product tanker newbuilding at SLS Shipbuilding of South Korea, leaving just one vessel contracted with the yard. Glenda International Shipping, the d’Amico and Glencore joint venture, cance...
2009-09-24 06:38:33
Handysize oversupply to ease
In its latest report, DVB expected only handysize bulkers, of the entire dry bulk ship types, to return in supply-demand balance in two years. However, low profitability may go on due to low freight rates and the fall in asset prices. Based on ...
2009-09-24 06:17:33
Asian shipping needs greater voice
The size of the Asian shipping and shipbuilding industries is large and they should occupy a more prominent and influential position in the international regulatory process than they currently do, according to Mr Oh Kong-Gyun, chairman and ceo of the...
2009-09-23 07:29:46
STX seals $5.8bn Vale deal
South Korea’s STX Pan Ocean has formally signed a $5.8bn iron ore shipping contract with Brazilian miner Vale. In what the shipowner and operator claims is the largest consecutive voyage contract in history, the company is to transport 300m tons...
2009-09-23 07:22:46
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