Shipping
Boxship rates fall back to zero
Container lines have just four weeks to reverse the slide in Asia-Europe freight rates or risk going out of business. Desperate efforts are now under way to raise westbound rates from Asia after April’s modest success proved short lived and rat...
2009-06-10 07:11:17
ABS fleet breaks 150m gt mark
With new deliveries still flowing out of the world’s shipyards, the ABS-classed fleet has breached the 150m gross tons threshold for the first time in the 147 year-old society’s history. Latest fleet statistics show the fleet as standing at 1...
2009-06-08 07:12:11
Greek stops newbuilding orders for 8 months
Despite the recent upturn of the dry bulk market, which was disrupted yesterday after 23 consecutive rising sessions, Hellenic shipping companies have kept their stance formed from the past October. With the month of May having passed, no newbuilding...
2009-06-05 11:05:03
Idle boxships brought back into service
Idle containership tonnage varies enormously from line to line, with some anchoring more than a fifth of their fleet and others, such as CMA CGM, keeping all ships employed. Those are the findings of Alphaliner, which reports in its latest newslet...
2009-06-04 07:12:14
DryShips cancels newbuilding purchase
DryShips cancelled a deal to buy a capesize bulker under construction in South Korea after paying out $42.8m, the company said Wednesday. The Nasdaq-listed bulker and drilling unit owner had a contract to pay $114m for the 180,000-dwt Hull 2089. C...
2009-06-04 06:42:35
Boxship fleet poised for upturn
Despite the current overcapacity of tonnage and disastrous shipping rates, the world containership fleet is expected to continue its rapid growth curve, albeit at a slightly reduced rate, as deliveries are taken from shipyards and new shipbuilding or...
2009-06-03 11:53:48
India to revisit $2bn
An appeal for a $2bn loan package by Indian shipowners appears to be taking shape after the election of a new national government. Industry sources claim the new administration is actively considering creating a "$2bn soft-loan fund" that will hel...
2009-06-03 09:26:07
Genco cape newbuilding finds charterer
Genco Shipping & Trading has reduced some of its exposure to uncertainty by locking in one of its three capesize newbuildings on a two-year timecharter at $36,000 a day. The deal with Morgan Stanley involves the Genco Commodus¸ a newbuilding sch...
2009-06-03 07:51:54
‘Wipe out more tonnage’, says Total
Tanker owners have been told by a leading charterer to show more urgency in wiping tonnage from the existing fleet and the orderbook. Philippe Evrard, chartering manager for oil giant Total, estimated that 50%-60% of the tankers on order worldwid...
2009-06-03 07:44:46
Double-digit fall expected in box volumes
More gloom has been poured on prospects for a liner shipping recovery with one of the world’s largest sea freight forwarders estimating a double-digit tumble in global container volumes this year. Otto Schacht, head of seafreight at Hamburg-bas...
2009-06-03 07:40:55
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