Shipping
ZESCO targets biggest repair complex
South Korea's Hanjin Shipping's ship repair base in China has officially opened since the first half of this year. Zhejiang Eastern Shipyard (ZESCO), a joint venture between Hanjin and Shunhe Shipping of China, located in Qushan Island of Zhejiang...
2009-09-15 06:39:20
Huarong builds shipbuilding facility
Chinese shipping company Huarong Marine Shipping has launched a shipbuilding and shiprepair complex in Fujian province in eastern China. The company has spent Yuan2.3bn ($338m) developing the facility to take advantage of booming shipping links be...
2009-09-14 07:11:43
CEOs' upbeat on 2nd half
South Korean major shipbuilders’ chief executives are optimistic upon the shipbuilding market in the second half of the year, but indices are still being subdued. STX Business Group chairman Kang Duk-su said, “Shipbuilding market has bottomed ...
2009-09-14 06:21:13
MOL boosts green car carrier
Japan’s MOL has revealed its new car carrier design which it claims can cut carbon emissions by 41%. It says the next-generation ship “will be technically practical in the near future”. The giant owner is also working on similar designs f...
2009-09-11 07:25:54
Germans buy boxships for a bargain
German shipowner Carsten Rehder and opportunity funds set up by KG financier Maritim Equity have teamed up and acquired two 1,700-teu containerships for a bargain price from Hong Kong-based owner Cido. The two 2008-built ships Ocean Mermaid and Ocean...
2009-09-10 07:38:23
Box lines in fresh rate hikes
Maersk Line and CMA CGM have both announced another series of rate increases as they struggle against “unacceptable” market conditions. French line CMA CGM unveiled rate restoration from North Europe to Asia and Middle East/Red Sea trades, whi...
2009-09-09 07:47:38
Suezmax outlook dreary
Owners of suezmax tankers face a bleak three years’ trading, with average freight rates set to tumble by more than one-third by 2012 and little hope that demand will match supply. With more than 130 new ships joining the 375-strong global fleet ...
2009-09-09 07:43:29
Timah eyes six new ships
Indonesian state mining company PT Timah has increased its acquisitions target after a planned fleet expansion stalled this year. The Jakarta and London-listed tin producer is now looking to splurge $45m on six ships, local media reported, citing ...
2009-09-09 07:38:19
Solar vessel voyage results released
The solar power-assisted vessel Auriga Leader, jointly developed by NYK and Nippon Oil Corporation, has completed seven months of voyages in its scheduled two-year experiment into how solar power can be used to assist with powering a vessel. Pictured...
2009-09-09 07:21:03
Suezmax tanker fleet hits 374
A total of 374 suezmax tankers are currently in service across the world, with 144 newbuildings on order, or just under 40% of the global fleet, according to data released by Frontline in its latest financial statement. The world's top tanker owne...
2009-09-08 07:36:11
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