Shipping
Bocimar sells capesize for $61m
Belgium-based major bulker operator Bocimar has been selling off a string of capesize bulkers. Just recently, it sold a 2006-built 174,333-dwt bulker, the Mineral Hong Kong, for about $61 million. The ship will be delivered to a new owner in the f...
2009-07-29 07:18:12
Big 3 face huge losses
NYK said it made a ¥18.9bn Q1 loss against a ¥44.3bn profit a year earlier and K Line reported a loss of ¥14.9bn for the first quarter. Japan’s big three shipping companies all sank into the red in the first quarter of 2009 and bot...
2009-07-28 07:02:41
Dolphin to go ahead with new yard
Indian offshore operator Dolphin Offshore says it is pressing ahead with plans to construct its own shipyards but earlier ambitions to build commercial ships up to aframax size appear to have been ditched. Dolphin says it will concentrate on building...
2009-07-27 06:42:48
Greek $700m fund targets panamaxes
Financier Investment Group (FIG), a new private-equity fund launched by Spyros P Laimos, one of Piraeus's oldest shipping names, is to target the acquisition of modern panamax bulkers. In total, it has $1bn under its belt. The main emphasis is on ...
2009-07-24 14:15:19
Sea4 resales pair on order
UAE’s Halul Offshore is in prime position to buy two newbuildings from Norway’s Sea4. Sea4 has been battling for several months to secure financing for the Multi-Functional Support pair on order in Spain and has now signed a deal with a “sig...
2009-07-24 07:42:54
Newbuilding influx to pressure rates
An expected influx of new capesize bulkers combined with China’s sliding iron ore demand is expected to end the capesize rally that pushed rates beyond $100,000 per day just six weeks ago. “I think we are finally starting to see the additiona...
2009-07-24 07:29:59
Idled boxships increase again to 10%
According to French maritime consultant AXS Alphaliner, the number of containerships currently laid up is 520 representing 1.28 million TEUs in capacity. This is equivalent to 10% of the world's boxship fleet, and is up 0.5% points from two weeks...
2009-07-24 07:25:05
Dry bulk market upturn stabilizes
The Baltic Dry Index is anticipated to further stabilize going forward as it keeps on rising recently. The rising cycle of BDI seems connected with the Australian spy case which happened during the iron ore price negotiations between Chinese steel...
2009-07-23 06:20:33
Dry bulk double whammy
Recovering dry bulk markets face a potential double whammy if China’s import declines. Congestion levels at Chinese ports remain at record levels with 83 capesizes presently waiting at anchor, says Martin Sommerseth Jaer of Arctic Securities. ...
2009-07-22 07:05:35
Summer upturn buoys box lines up
Cash-strapped container lines are pressing ahead with a second round of freight rate rises in the Asia-Europe trades after unexpected success in lifting box revenues at the start of the month. Several carriers have already announced peak season s...
2009-07-22 06:53:43
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