Shipping
Freight rates hit bottom
Freight rates for the three main commercial ship types are expected to hit rock bottom this year. Net profits for bulkers kept increasing between March and May, and in June, they jumped by a whopping 264% against January to $20,203 a day. But the ...
2009-09-23 06:55:36
AE Nomikos picks up Norden resale
Cash buyer AE Nomikos Shipping Investments of Greece continues to expand its fleet with the purchase of a bulker-newbuilding resale. Managing director Captain Andreas Dimitrellis confirms the company has paid $36.5m for a contract from Norden for ...
2009-09-22 07:36:23
STX wins Vale's $5bn COA
STX Pan Ocean and Vale are finalizing a contract of affreightment (COA) worth as much as $5bn. Under the deal, the South Korean bulker owner will carry about 300 million tons of iron ore for Vale, the major Brazilian iron ore miner. STX will carry...
2009-09-22 07:11:51
STX orders 8 VLOCs
South Korea’s STX Business Group is set to sign a KRW 6trn ($4.97bn) contract of affreightment (COA). An official from STX Pan Ocean, the group’s shipping unit, said “We are in final stages of negotiation with Brazil’s iron ore supplier Va...
2009-09-21 09:49:03
Vinaline builds 40 new ships
Vietnamese state-owned groups Vinashin and Vinalines are planning to build 40 new ships. Prime minister Nguyen Tan Dung has approved a scheme whereby Vinashin will supply its shipowning counterpart with the vessels by 2013, without revealing furth...
2009-09-21 07:13:16
Mercator consider capesize
Singapore-based bulker operator Mercator Lines is said to be negotiating with India's Pipavav Shipyard for a 170,000-dwt capesize newbuilding. Industry players claim the owner is aiming for a delivery date at the end of 2012. The acquisition ...
2009-09-18 12:09:39
Sungdong close suezmax pair
Stena Bulk is mulling an order for two suezmax-tanker newbuildings on the back of a long-term charter to an oil major Total. Some market sources say France's Total will charter the 158,000-dwt pair. However, no terms have been disclosed - some ta...
2009-09-18 12:08:24
Bulker deliveries go slow
Lorentzen & Stemoco predicts that a little over half the bulkers due for delivery this year will make it out of the shipyards on time. The Norwegian broker believes that only 40.7mdwt, or 56% of the 72.7m dwt scheduled for delivery in 2009 will be...
2009-09-18 07:59:38
Cuban confirms 10 handys
Cuban shipowner Acemex has confirmed a $280m fleet expansion, ordering 10 handysize bulk carriers at China’s Shanghai Shipyard. The state-owned shipping company will have the 35,000-dwt vessels delivered between 2011 and 2013. The $28m per vesse...
2009-09-16 07:39:07
Ultragas snatches STX MR pair
Ultragas has swooped for a pair of MR tankers on order at South Korea’s STX Offshore & Shipbuilding, brokers say. The Chilean tanker owner is thought to have paid between $32.5m and $33.5m each for the 50,903-dwt vessels. Only three months ago I...
2009-09-15 07:36:50
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