Shipping
Vale takes in 25 capes
Demand from China's smaller steel mills has resulted in a Brazilian miner fixing 25 bulkers in a matter of days. South American mining giant Vale is said to have swept up 25 capesize bulkers within the space of a few days. Some 20 of the ships wer...
2009-05-04 14:21:32
Zim returns six ships
Israeli container line Zim has cut capacity further by cancelling the charters of six ships owned by the controlling Ofer family. Zim parent Israel Corp, majority owned by the Ofers, told the Tel Aviv Stock Exchange that it would pay a cancellation f...
2009-05-04 07:28:04
Small chemical tankers well positioned
Small may be beautiful when it comes to the beleaguered chemical tanker market, according to a new report. The sub-5,000 dwt chemical carrier fleet, employed mainly in regional European and Pacific Rim trades, is better positioned to recover from ...
2009-05-04 07:23:02
CSAV may sell off Norasia
Speculation is mounting that Chilean carrier CSAV may sell off its CSAV Norasia shipping line and other assets to help reduce costs and debts. Sources in both Valparaiso, the HQ for CSAV, and in Sao Paulo, Brazil, have confirmed that assets are u...
2009-05-01 11:08:42
No BDI rebound until 2011
The Baltic Dry Index (BDI), a measure of world trade that collapsed a record 92% last year, won’t rebound until 2011, Nomura Holdings Inc. said. “We maintain our bearish view due to the large supply of new ships coupled with slow bulk demand,” ...
2009-05-01 10:57:23
CSAV rescue hangs on cancellation of orders
The survival of embattled Chilean shipping group CSAV could rest with South Korean shipbuilder Samsung Heavy Industries after German owners attending crisis talks in Hamburg last month attached conditions to a rescue plan. International efforts to sa...
2009-05-01 06:59:18
BW Maritime boss detects positive signs
BW Maritime managing director Andreas Sohmen-Pao expects the tanker market to remain weak this year but sees some positive signs emerging. “Generally I see a weak of market with some potential for improvement, but with it being unlikely we’ll...
2009-04-30 07:27:04
Signs of boxship recovery
Piraeus-based containership owner Danaos Corp has said it believes the worst of the container shipping crisis may have passed, although it admitted its perception of a possible nascent recovery “remains to be tested” and might not be evident in n...
2009-04-30 07:18:49
Eitzen resales MR trio
Eitzen Chemical has sold three chemical tanker newbuildings for $124m. The company said it reached an agreement with Sweden’s Laurin Maritime to sell the 46,000 dwt vessels, under construction at the Brodotrogir shipyard in Croatia, through a n...
2009-04-30 07:09:04
Boxship market may pick up next year
Boxship owners are looking at a market turnaround from as early as next year. CMA CGM executive vice-president Jean Marc La Cave said 2010 could bring a recovery for the container shipping markets. Quoting data from Global Insight, Clarkson and D...
2009-04-30 07:04:55
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