Shipping
Vale plans to build 400K VLOC
Brazilian miner Vale has decided to build 400,000-dwt class very large ore carriers (VLOCs) to meet China's ever-growing iron ore demand while reducing iron ore shipping cost. Vale said it has already cut down the transportation costs for the rout...
2009-08-12 06:19:09
Tanker order cancel-demolitions to peak next year
According to a recent report released by a US tanker operator General Maritime (GM), resale price of a suezmax tanker newbuilding has dropped nearly 40% compared to its peak price recorded last year. And asset values of tanker companies have also ...
2009-08-12 06:12:12
Cido eyes cancelling PCTCs
Cido Shipping is said to be looking at cancelling orders for pure car/truck carriers (PCTCs) as it mulls options to make further cuts to a backlog of around 100 newbuildings. Sources say the Hong Kong-based shipowner wants to ditch a quartet of 2,...
2009-08-11 07:36:12
Log-In orders two 80K bulkers
Brazil’s Log-In Logistica said it has placed an order at compatriot Estaleiro Ilha (Eisa) for a pair of 80,000-dwt bulkers. The logistics player and shipowner revealed the deal as it firmed up the contract of affreightment (COA) that will put th...
2009-08-10 07:07:07
GE to cancel two more orders
Indian shipowner Great Eastern Shipping is set to cut more orders over concerns for the future direction of the shipping markets. The Mumbai-based owner plans to axe one tanker and one bulker from its orderbook in a move to cut its investment risk...
2009-08-10 07:00:54
GE cancels 81K BC at SPP
India’s Great Eastern (GE) Shipping has once again cancelled a newbuilding order. This time around, the Mumbai-based owner has ditched one of its two 81,000-dwt kamsarmax newbuildings on order at SPP Shipbuilding of South Korea, it announced to ...
2009-07-31 07:10:29
Newbuilding projects aborted
According to local sources in Ningbo City, China, 20 shipping companies in the city have been forced to stop their shipbuilding projects which had been already ordered, due to financing difficulties and lack of shipbuilding funds. The number of relat...
2009-07-31 06:26:28
Handysize bulkers may decline 7% a year
The handysize bulker fleet is set to shrink by 5% to 7% a year due to scrapping, according to Precious Shipping. In the second quarter of this year, 60 handysize bulkers were scrapped, with only 28 new vessels added to the global fleet. As a resu...
2009-07-30 07:06:11
Qatar Nav delays boxship at Daesun
Qatar Navigation said it would not take delivery of the last of its four 1,040-teu boxships ordered at South Korea’s Daesun Shipbuilding & Engineering until next year. As recently as early June, the owner had remained confident that the full qua...
2009-07-29 07:28:55
Tanker fleet over 25,000 dwt hits 3,400
Global tanker fleet engaged in the transport of crude oil and petroleum products as of the end of June 2009 stood at about 3,400 units. UK-based EA Gibson Shipbrokers calculated the total freight space of existing tankers over 25,000-dwt. As ...
2009-07-29 07:20:11
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