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Shipping
Maersk adopts ultra-low speed navigation
Maersk Line will actively implement what it calls an eco-speed policy wherein it reduces engine loads to 10% and operates ships at ultra-low speeds. This enables Maersk to significantly cut down fuel consumption, which it believes will lead to re...
2009-10-28 07:12:56
DryShips cancels Kamsarmax pair
DryShips is said to have cancelled an order for a pair of kamsarmax bulkers contracted at a Chinese yard. The Nasdaq-listed bulker and drilling unit owner had purchased the 82,000-dwt bulkers in a resale deal two years ago. Asked about the ships d...
2009-10-28 07:02:48
Sovcomflot resales endorsed
Resale of at least some tanker newbuilding contracts to companies associated with Yuri Nikitin was in the best interest of Sovcomflot, the company’s former legal chief conceded. Under cross examination Nikolay Lipka was led through a deal under ...
2009-10-27 07:31:44
CMB newbuild resales cancelled
CMB's sale of two newbuildings has collapsed, but the Belgian company said Thursday that it has taken a stake in a South American barge venture. As it reported its third-quarter results, the parent of bulker owner Bocimar said losing the sale of t...
2009-10-26 07:17:44
Densan buys more newbuilds
Densan Shipping has been linked to a second purchase of supramax bulkers last week. The Turkish owner is said to have purchased two 58,000-dwt newbuildings from Denmark's J Lauritzen. A ship brokerage said Friday that the company is paying $67m fo...
2009-10-26 07:11:33
Indian expects shipping demand to rise
Essar CEO Anoop Kumar Sharma is confident all of its newbuildings to be delivered in 12 to 18 months will find employment opportunities thanks to rising shipping demand in India. The Indian company boss is also on the lookout for a couple of secondha...
2009-10-23 01:11:01
New business model for liner
The recently formed The Containership Company will offer a new form of business for container cargoes in an effort to find employment for some idled containerships, TCC managing director Franck Kayser said, foreign media reports. “We aim to work...
2009-10-23 00:56:26
MOL inks ore deal with Chinese
Japanese shipping giant Mitsui OSK Lines (MOL) has signed a long-term freight contract with the Jiangsu Shangang Group, according to foreign media reports. MOL says it is the first non-Chinese company to strike such a transportation deal with Jian...
2009-10-21 23:12:05
No signs of recovery yet
APL president Eng Aik Meng has warned it is premature to talk of significant recovery in the containership arena, foreign media reports. Speaking at a conference in Shenzhen, Mr Eng said that while container volumes handled by lines were showing som...
2009-10-21 23:07:12
Chinese buy up more ships than Greeks
Chinese owners are ramping up tonnage to such an extent that they are surpassing their Greek counterparts for the first time this year. Piraeus shipbroker N.Cotzias’s latest figures show that during the first nine months of the year the Chinese...
2009-10-21 23:04:50
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