Shipping
Berlian Laju snaps up Eitzen
Asia’s rise to the top of the shipping heap has once again been clearly demonstrated with the announcement yesterday that one of Indonesia’s best known shipping firms is to buy out a blue-chip Norwegian shipowner. PT Berlian Laju Tanker (BLT) ...
2009-10-06 07:08:02
Delivery delay hits Hosco VLCC
One of China's largest shipowners will have to wait to get its hands on a ship that it claims symbolizes a "prosperous and strong" China - because of a delay at the shipyard. State-owned Hebei Ocean Shipping Co (Hosco) was preparing to receive the...
2009-10-05 07:26:09
Bulgarian cancels handysize
Bulgarian owner Navibulgar has cancelled a contract for a handysize bulker at the domestic Varna shipyard. Industrial Holding Bulgaria (IHB), which controls Varna through its Bulyard subsidiary, said the deal for hull 459 was torn up on Thursday b...
2009-10-05 07:19:43
Oversupply of 100 suezmaxes expected
Tanker market is expected to see further oversupply of suezmaxes in the years ahead, overseas media quoted the Frankfurt-based DVB banking group as saying. The bottoms surplus of suezmaxes is reportedly projected to exceed 100 units in 2012. The n...
2009-10-02 07:36:08
Boxship market to recover in 2015
Germany's Norddeutsche Landesbank (Nord/LB) said the global financial crisis has hit hard the shipping banks and long-term financing for shipbuilding has almost ground to a halt, local media reported. The bank said existing containership fleet has su...
2009-10-01 14:10:27
Owners lay up more
The number of containerships put on hold at sea by shipowners has reached its highest-ever level with a total capacity of 654,000 TEUs. According to findings by French maritime consultant AXS Alphaliner, this is the first time ships laid up by shipow...
2009-10-01 07:26:57
Lloyd Fonds cancels 8
Lloyd Fonds has slashed its newbuilding program by eight ships. The cancelled ships comprise four 118,000-dwt bulkers and four 3,400-teu containerships worth $458.8m in total. The German ship fund manager declined to identify where the ships were ...
2009-09-30 07:31:18
Tanker stage to recover in 2010
A Dahlman Rose analyst cut his earnings estimates for tanker players Tuesday and said the sector is set for recovery next year. Analyst Omar Nokta says lower Opec output and slumping refinery margins are the main overhangs hurting tanker rates, an...
2009-09-30 07:20:28
CMA CGM to cut orders
CMA CGM is expected to cancel and delay newbuildings as it sets up a committee to arrange a cash injection. The French liner, currently making losses, is now rumored to be seeking state aid to continue as a going concern. In a statement on Tues...
2009-09-30 06:58:34
CMA CGM seeks state aid
CMA CGM has reportedly approached the French government about a potential support to tide it through the recession. Senior managers from the world’s third largest liner company have held talks with France’s finance ministry, according to forei...
2009-09-29 14:35:23
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