Shipping
Capesize rates hit $100,000 mark
Rates for a capesize vessel broke the $100,000 per day barrier, with Italian trader Coeclerici one of a raft of charterers paying a six-figure sum to secure tonnage in the Atlantic basin. Coeclerici chartered the 2003-built 175,775 dwt China Stee...
2009-06-03 07:38:33
KOTC moves on order Aframaxes.
A tanker player is getting ready to issue a tender for two aframaxes. Kuwait Oil Tanker Co (KOTC) is set to resume its fleet-renewal programme by issuing a newbuilding tender for a pair of aframax products tankers, according to reports. Chairma...
2009-06-02 10:23:58
DryShips ready to spend on bulkers
George Economou says DryShips could raise a war chest of nearly $1bn to spend on dry-bulk assets. A combination of cash from a recent ATM offering and the Nasdaq-listed shipowner’s comparatively easy access to bank loans mean it is well placed t...
2009-06-02 06:22:47
Capesize rates keep rising
Spot charter rates on capesize bulkers remain upbeat. In London on May 28, the average rate on the world's four key lanes gained $3,538 to $60,236/day, recovering the $60,000 mark for the first time since Sept. 23, 2008. The rate gained $20,0...
2009-06-02 06:18:56
Massive orderbook endangers box lines’ survival
Some container lines may be forced to drop out of the industry given the huge number of new vessels to hit the market in the coming months, warns GAC senior executive Bill Hill. Although the plunge in container volumes appears to have bottomed ou...
2009-06-02 06:01:30
Idle bulk carriers increase
The number of bulk carriers idle at ports around the world has risen over the last month, at a time when surging iron ore and coal shipments have seen rates more than double for larger vessels. A total of 382 bulk carriers above 10,000 dwt are cl...
2009-06-02 05:54:32
Capesize market being reinvigorated
Capesize bulker market has become active again. On the London market on May 27, the average charter rate of four major routes continued to rise to $56,698 per day, up by $6,217 from the previous day, recording increases by wide-margin of $5,000-6,000...
2009-06-01 07:41:31
Capesize rates rapidly recovering
Spot charter rates of Capesize bulkers are drastically increasing, averaging $50,481/day on May 27, up $5,476 from the previous year, on the four major routes at the London market. With the $5,000/day margin of increase for two consecutive days, ...
2009-05-29 07:55:05
Frontline cancels six tankers
John Fredriksen’s Frontline believes as much as one-third of the tanker newbuilding order-book could be cancelled or delayed after culling a similar amount of its own newbuilding programme. Frontline has cancelled orders for six newbuilding very la...
2009-05-29 07:04:04
NOL suffers double-digit decline
Neptune Orient Lines’ (NOL) continues to experience double-digit declines in both revenues and volumes, latest data shows. For the four weeks to 1 May 2009 NOL handled 157,800-feu, 22% down on 203,000-feu carried a year earlier. NOL, which is la...
2009-05-28 07:56:30
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