Shipping
Boxship breakings rise
Containership demolition activity is increasing sharply as owners take whatever action they can to eliminate unwanted tonnage as cargo demand remains slack and freight rates are at rockbottom. However, as newbuilding deliveries continue at a reco...
2009-04-23 06:46:01
Plunging oil demand hits tanker owners
Freight rates for tankers are coming down day by day, with owners coming face-to-face with some serious decisions, like scrapping older and single-hull vessels, together with new building order delays or even cancellations. It is now more than cl...
2009-04-22 13:22:09
China stimulus could boost liners
China’s massive stimulus spending plan coupled with a focus on developing inland provinces could provide a boost to the liner shipping sector. But a leading shipping specialist said the full effect of the programmes had yet to be felt. Sinotran...
2009-04-22 07:05:39
Dry bulk recovery far ahead
Asian shipowners are forecasting a bleak outlook for dry bulk shipping as the industry struggles with a massive orderbook. “We are only seeing the beginnings of the crisis now. That recovery we had in the last few months does not mean anything,...
2009-04-22 06:39:33
Boxship market still bleak
Although the containership chartering market saw an increase in requirements in the last week, continued oversupply has prevented any improvement, Braemar Seascope said Monday. "An increase in cargo volume is the key for an improvement to the pres...
2009-04-21 07:42:45
No VLCCs laid-up despite tanker rates fall
No VLCCs apparently stay laid-up across the world at the moment despite growing perspectives that the falling tanker rates may force operators to idle some of their vessels. An official related to the tanker business said, "The actual situation m...
2009-04-21 07:29:49
COSCO expects rates to rise this quarter
COSCO ceo Wei Jiafu (pictured) has stated that business is looking up for the COSCO Group as a recovering Chinese economy helps boost trade and international freight prices. "Even a slight tick-up in the macro economy will surely enhance trade flows,...
2009-04-21 07:25:43
Tanker rates reach record lows
Tankers are being chartered for voyages at spot rates that fail to cover bunker and port costs, as earnings dramatically plunge across all tanker types in both dirty and clean trades. Worldscale rates for clean tankers operating on some major rout...
2009-04-21 07:15:11
China needs 35 more VLCCs
An additional 35 very large crude carriers will be needed to meet the demand for tankers carrying crude oil from Venezuela to China. Earlier this month the two countries signed accords to boost oil exports to China by 260% until 2013. Venezuelan p...
2009-04-21 07:10:58
Merger between Japanese owners
Japanese owners K Line and Tokyo Senpaku are combining their container runs to Malaysia, Singapore and Indonesia as a response to falling cargo volumes. The new merged run will start in mid-May “in response to the ongoing financial crisis that has ...
2009-04-20 07:41:51
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