Shipping
Greek registered fleet increases
Despite the negative results on the power of the Hellenic flag on the recent annual survey of the Hellenic shipping industry in terms of numbers, commissioned by the Greek Shipping Cooperation Committee (GSCC), based on Lloyd’s Register data, figur...
2009-03-20 13:20:50
VLGC rates sink to all-time low
Freight rates of large-size LPG carriers (VLGC of about 80,000 cbm) have tumbled to all-time low levels, with the benchmark spot rate on the Arabian Gulf (AG)-Japan route hovering around $15/ton. The rate thus sank to a record low in only 8 months af...
2009-03-20 07:30:33
Tanker sector hits new low
Medium range tanker rates yesterday crashed to below $4,000 per day, forcing owners to contemplate removing their tonnage from the market and joining idling bulk carriers and containerships. The dramatic fall in rates in clean products trades thi...
2009-03-20 07:13:33
Stolt cancels one: SLS
Stolt Tankers has cancelled a contract for a delayed coated chemical tanker being built at SLS Shipbuilding in Korea. The subsidiary of Oslo-listed Stolt-Nielsen said the 44,000-dwt ship was originally scheduled for delivery in May 2008. The co...
2009-03-19 07:50:52
Hanjin Shipping 'rebound': 2011
Hanjin Shipping, South Korea’s largest shipowner said on Wednesday that liner shipping will not begin to recover until 2010. Hanjin’s senior vice president Harry Shin told Reuters that carriers like itself will best serve themselves by focusi...
2009-03-19 07:25:45
VLCC rates plunging to seven-year lows
Very large crude carrier rates have hit a seven-year low, as demand for tankers is depressed by oil production cuts from the Organisation of Petroleum Exporting Countries. Charter rates for double-hulled VLCCs taking Middle East crude to Asia wer...
2009-03-19 07:21:25
India mulling Rs100bn package: Shipping firms
The global recession has spurred India’s Government to consider a Rs 100bn ($1.957bn) package to help local shipping firms finance new vessel acquisitions, Mint reports, quoting APVN Sarma, secretary to the ministry of shipping. The package comes i...
2009-03-18 13:40:29
Tanker demand to remain flat
Demand for tankers is unlikely to see any increase in 2009 despite apparently firming demand during the fourth quarter of 2008, according to marine transport advisors, McQuilling Services. According to the analyst, the forecast is based on two mai...
2009-03-18 10:00:04
Boxship lay-up slows
The flood of containerships pouring into lay-up is beginning to slow, new figures show. Seasonal changes in the market meant only 31 box vessels were tied up over the past two weeks, down from 61 during the previous fortnight. In its latest report...
2009-03-18 07:51:00
Pacific Basin comitted to newbuildings
Pacific Basin Shipping is on course to take delivery of the first of six ro-ro vessels in August as the Hong Kong-listed bulker operator remains committed to its newbuilding programme. Chief executive Richard Hext said the vessel had already been fix...
2009-03-18 07:15:18
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