Shipping
Eitzen cancels 11 ship orders
Eitzen Chemical has chopped order for five chemical carriers in Japan in light of the global financial crisis. Its move comes as the Oslo-listed company enters into discussions with lenders regarding the restructuring of debt. Eitzen says it will ...
2009-04-09 06:34:57
Still high: Bulkers
Prices of secondhand bulkers have plummeted to as low as half the level reached during the peak season around summer 2008 due to the slump in the dry market. With newbuildings now on order in a massive volume, it is almost impossible to expect ...
2009-04-08 09:38:27
Norden in a move to cancel orders
Norden is ready to cancel, delay or convert some of its newbuilding orders as the dry-bulk market remains depressed. The Danish owner vowed, however, that it will not simply walk away from orders and has the company cash to finance its large order...
2009-04-08 07:20:33
A tinge of hope in tankers
Tanker rates across many sectors have fallen sharply, and remain below breakeven in many segments, especially for clean products. Yet some analysts forecast a softer landing for tanker owners and operators than for owners of bulk carriers. One US-...
2009-04-08 06:43:52
Crisis to be seen as ‘the good’
Norden chief executive Carsten Mortensen (pictured) says the dry bulk industry will soon be grateful that the current crisis it is struggling through has come so quickly and roughly. Mr Mortensen said that while his Copenhagen-based company was in th...
2009-04-08 06:37:31
$32bn loss for global shipping this year
Terminal operators with a diversified portfolio, especially those with ports in developing economies, are likely to fare better than their competitors with locations fixed in traditional markets. That’s the assessment of APM Terminals chief ope...
2009-04-07 11:10:41
Suezmax rates reach 10-year lows
Suezmax charter rates hit 10-year lows of $19,000 per day for a transatlantic route and $14,000 per day for a Mediterranean voyage. Brokers said owners were unwilling to go any lower on rates for 1m-barrel capacity tankers in West Africa and the B...
2009-04-07 07:26:42
Time for reforming: Shipping
Amid the ever-growing clamour for reform and tighter regulation of financial markets in the wake of the global credit crunch, shipping has - true to form - quietly slipped under the radar. For all the gripes about questionable practices in the sec...
2009-04-06 07:06:21
Molaris denies suezmax project
The former Excel Maritime boss is rejecting suggestions that he is involved in a project to buy five tankers. Former Excel Maritime boss Stamatis Molaris is categorically denying he is fronting a new project to buy five modern suezmax tankers with...
2009-04-06 06:58:16
Greek family returns to dry bulk
Low vessel values are luring the Kallianis family back into shipping. The Kallianis family of Greece has made a comeback in shipping after a seven-year absence to take advantage of falling bulker prices. Captain Dimitris Kallianis has formed a new...
2009-04-06 06:54:15
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