Shipping
Bulker demolition to accelerate through 2011
Eagle Bulk Shipping's chief executive said Thursday that he expects accelerated bulker scrapping through 2011, even as the market improves. The same day, a Maxim Group analyst cut his rating on the New York bulker owner's stock. In a conference...
2009-05-08 07:53:34
STX handy order cancellation groundless
South Korean operator STX Pan Ocean has reportedly decided to cancel an order for eight 37,000-dwt Handysize bulkers it placed with compatriot shipyard STX Offshore & Shipbuilding, according to a market report. STX Pan Ocean is said to have blamed th...
2009-05-08 07:49:46
Boxship rates need to fall further for lay-up
Containership charter rates need to fall even further before owners are likely to consider putting ships into long-term lay-up, rather than merely keeping them idle, according to Howe Robinson Shipbrokers director of research Paul Dowell. Speaking...
2009-05-08 07:35:52
Hapag-Lloyd Q1 losses to reach €200m
Germany’s leading container line Hapag-Lloyd is expected to have suffered losses of €200m ($268.2m) in the first quarter of this year after being squeezed by weaker freight rates and lower volumes. And the latest equity research by Commerzban...
2009-05-08 07:30:00
STX enters Indonesian shipping
South Korea’s STX PanOcean, a shipping subsidiary of STX Business Group, has signed an agreement with Indonesia’s state-owned oil company PT Pertamina to set up a shipping joint venture. Pertamina president Karen Agustiawan and STX Group chair...
2009-05-07 11:41:35
Big cat starts delivery voyage
The new Incat 112 m Wave Piercing Catamaran for LD Lines, the NORMAN ARROW, is now on its delivery voyage to the United Kingdom and France. The ferry left Hobart, Tasmania, at 18.50 local time on Saturday, May 2, at the start of an 11,726 nautica...
2009-05-07 07:55:09
BDI rises again
Volatility is the key word for the trials and tribulations of the Baltic Dry Index and consequently all ship owners involved in the dry bulk trade. The BDI, a gauge that reflects the cost to haul iron ore, coal, grains and other raw materials via ...
2009-05-07 06:53:14
Chinese demand drives up rates
Capesize and Pacific panamax rates are set to climb further in the next few weeks as China’s infrastructure engine continues to speed up. Brokers said the capesize sector would gain the most as China continued to ramp up its iron ore imports, wh...
2009-05-06 11:52:55
China offers ray of hope for tanker sector
After weeks of pessimistic views on the future prospects of the tanker market, fuelled by actual facts, like the oversupply of vessels and lower oil demand and production, finally some signs of positiveness have remerged. As expected, these come from...
2009-05-06 11:40:46
Stretching Bulkers
The number of bulk carriers in lay-up or idle at ports around the world fell in April, as a combination of Chinese demand for iron ore and better freight rates saw unemployed ships resume trading. However, while nearly 20 panamax and capesize vessels...
2009-05-06 07:46:48
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