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Shipping
Rickmers brothers’ faith in megaships
The Rickmers brothers are not giving up on 16 13,100-teu giants. Shipowners Bertram and Erck Rickmers recognise that the current doldrums in shipping are different from many others in their family's long history. The brothers - who today run the s...
2009-06-23 07:48:37
Bangladeshi break $300-per-ldt barrier
Bangladeshi scrap buyers have broken through the $300-per-ldt barrier for the first time in more than three months. US-based buyer GMS said the deal for the 15,555-ldt crude vessel Arendal (built 1986), owned by Arendal Holding Corp of Liberia, sh...
2009-06-23 07:39:08
Market still quiet : until later or next year
Talk is flying after a couple of recent orders but the consensus is that the market still has quite a way to go. An order for up to eight medium-range (MR) tankers at South Korea's STX Offshore & Shipbuilding by Greek interests and reports of a 30...
2009-06-22 09:46:35
Single-hull VLCC demolition slows
Despite the freight rate market at a historically low level, demolition of single-hull (SH) VLCCs is stagnated, prompting market players to grow concerns over excess supplies. Demand for converting them to large-size ore carriers and offshore str...
2009-06-22 07:14:32
D’Amico tanker cancellation at SLS ‘Groundless’
South Korea’s SLS Shipbuilding said the cancellation of the first unit of four 51,000-dwt product tankers ordered by Glenda International Shipping, a joint venture between Italy’s D’Amico International Shipping and Glencore, is yet to be made. ...
2009-06-22 06:14:22
Shipping defaults “Calm before the storm”
Shipping defaults to date are only the “calm before the storm” and the industry faces a challenging 12-18 months ahead. The next year will likely see a surge in the number of loan defaults and ship arrests, with little prospect of a box trade...
2009-06-19 07:43:09
SLS hit by D’Amico cancellation
D’Amico International Shipping has yet to decide whether it will cancel a second product tanker about to be delivered at South Korea’s SLS Shipbuilding. The Italian owner and operator revealed it had cancelled one of four 51,000 dwt product t...
2009-06-18 06:52:26
Hanjin Sines with double-hull fuel tank delivered
Hanjin Shipping took delivery yesterday of the Hanjin Sines, the first of four 180,000 dwt capesize vessels being built by South Korea’s Hyundai Heavy Industries. The ship, which has a double-hull fuel tank and a fuel-efficient engine, has a se...
2009-06-17 12:48:51
CPC plans to buy VLCC fleet
Taiwan’s state-owned oil firm CPC Corp is planning to acquire a substantial fleet of very large crude carriers in a bid to minimise transport costs by reducing its exposure to the charter market. Local media suggested CPC’s long-term goal is to b...
2009-06-17 07:47:41
Wartsila offers lay-up services
Interest in vessel lay-up as the economic crisis continues is not diminishing. A recent rush of companies offering lay-up support and consultancy services indicates the market intensity. Classification societies, marine support companies and engine m...
2009-06-16 11:01:21
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