Shipping
EU mulls scrapping to ease oversupply
Brussels is considering a European Union ship scrapping scheme as a means to easing the shipping sector’s suffering, maritime affairs commissioner Joe Borg said. Such a scheme would help rid the European fleet of some of its older vessels and w...
2009-07-07 06:59:25
Hanjin changes Delphis orders
Delphis has entered dry-cargo market with the alteration of a newbuilding order in South Korea. Alexander Saverys, Managing Director, says the Belgian owner has swapped four 3,350-teu boxships for a trio of 180,000-dwt capesize bulkers at Hanjin H...
2009-07-06 07:22:34
CPC plans to build massive VLCC fleet
Taiwan's CPC recently announced it plans to establish a joint venture oil transport corporation together with two domestic shipping companies. CPC is said it will own a 48% stake in the joint venture while U-ming Marine Transport and Chinese Marit...
2009-07-06 06:24:34
Full supports for GCL: Fleet expansion
Shanghai-based Grand China Logistics (GCL), which stunned the shipping industry last month with a massive 30-bulker order at Zhoushan Jinhaiwan Shipyard, has been given a CNY 80bn ($12bn) war chest from the government to spend on its fleet expansion ...
2009-07-03 15:35:37
Greek fleet set to shrink
Greek shipping firms have continued to rise in number but they are braced for a scaling back as the recession goes on. Petrofin Research, a branch of the Petrofin consultancy, found that the number of Greek shipmanagement operations rose by 2% th...
2009-07-03 07:04:42
Cido sells massive tankers to Gulf Nav?
As cash-rich Gulf Navigation is moving ahead with plans to acquire “a large and modern” fleet, market buzz suggests the deal centers around 10 to 12 Cido Shipping product tankers. Some brokers say that the Dubai owner is buying the medium-rang...
2009-07-02 08:32:05
Boxship scrapping to hit record highs
Containership demolitions are set to reach new heights this year, making a modest dent in fleet expansion. Industry experts are projecting boxship scrapping of between 200,000 teu and 300,000 teu, more than double the amount sent to shipbreakers ...
2009-07-02 07:31:15
Greek tycoons on buying spree
Cash-rich Greek shipping tycoons, quick in responding to the change in economic cycle, are buying secondhand ships in quantities amid global economic downturn. They are hunting low-priced used vessels which were put on the market by financially tr...
2009-07-02 06:39:29
Sea NG deploys CNG carriers
Canada's Sea NG announced that it has been selected by Medcarrier, a joint venture between Egyptian Natural Gas and other entities, to provide shipping services for Medcarrier's natural gas project to the Island of Crete in Greece from Egypt. Sea ...
2009-07-01 07:37:43
Cido confirms tanker fleet sale
Cido Shipping has confirmed that it is in negotiations to sell its tanker fleet. However, the shipowner declined to comment on rumors that it was involved in a deal with Dubai-based tanker operator Gulf Navigation. Last week, cash-rich Gulf Navigati...
2009-07-01 07:25:01
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