Shipping
Sustained dry-bulk recovery
A sustainable dry-bulk market rebound is becoming more likely as international steel mills join China in upping their activity in the freight markets, Dahlman Rose says. In response it has upped its rate estimates for the second half of 2009 and i...
2009-06-16 07:48:05
Boxship market reached the bottom?
A Lazard Capital Markets analyst says the containership market may be bottoming, or it could have already reached its bottom. Analyst Urs Dur said Monday that US container ports have seen improvements in container volume, and Asian port throughput...
2009-06-16 07:44:46
Demand for VLCCs back on the increase
Demand for very large crude carriers and suezmax tankers is expected to improve from July as global production and consumption rise more than expected. This year’s decline in global oil consumption has been halted, according to the latest figure...
2009-06-15 14:13:24
Korea ship fund to buy 62 vessels
In South Korea, the ship fund, set up to prevent ships from being sold abroad at dirt-cheap prices, will buy 62 ships. After examining the 72 ships shipping companies put on sale last week, Korea Asset Management Corporation (Kamco) selected 62 sh...
2009-06-15 13:49:15
GNMTC eyeing newbuilding resales
Libyan tanker group General National Maritime Transport Co is targeting more newbuilding re-sales to expand its fleet of medium-sized oil tankers and gas carriers. GNMTC is building up a fleet of suezmax, aframax and medium range product tankers ...
2009-06-15 07:23:27
Idle boxship newbuilding fleet growing
The amount of newbuildings going straight into layup shows no sign of abating. Chinese yards have completed work on another three vessels in the past few days with all of them believed to be unemployed. The 3,543-teu Northern Diplomat, built by...
2009-06-12 15:26:49
Idle boxship fleet to reach 10%
According to findings by French maritime consultant AXS Alphaliner, 533 containerships totaling 1,315,000 TEUs in capacity were on hold at sea at the world's ports and anchorages as of June 8. While the number of idled ships operated by carriers ...
2009-06-11 07:19:28
Bulker values to fall further
The dry bulk market is approaching a false horizon and asset values are set to fall before they strengthen any more, industry experts have warned. Although average capesize rates have surged in recent weeks, the industry remains uncertain about t...
2009-06-11 07:09:19
Cardiff buys cape resale
George Economou appears to have kept his appetite for capesize newbuildings despite his public company cancelling a contract last week. Cardiff Marine, Economou’s private shipowning firm, has bought a 177,000-dwt resale at Shanghai Waigaoqiao Sh...
2009-06-10 07:55:00
Tankers needed: Stena Bulk-Asahi JV
Stena Bulk contends that the current good tanker buyers’ market is about to get even better as asset values drop further. Tanker newbuilding, second-hand and resale purchases as well as long-term charters are all on the cards as the Swedish owne...
2009-06-10 07:50:53
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