Shipping
Slump could last 3-5 years: DNV
As many as 300 of DNV's 1,500 new ship contracts, many of them in Asia, could be cancelled, according to class executives. And the figure could yet go higher. The latest estimates from DNV come as February figures show Chinese exports plunged by arou...
2009-03-12 07:47:07
Brazilian grain boosts Atlantic panamaxes
Panamax rates on the fronthaul route have reached $30,000 per day as the start of the Brazilian grain season takes available tonnage out of an already tight market. “The grain season has taken off, so tonnage in the Atlantic is tight for early p...
2009-03-12 07:19:03
Dry bulk orderbook poses major challenges
As the global dry bulk orderbook stands at massive heights, more and more ship owners are actively looking to either delaying scheduled deliveries or cancelling orders, especially for ships with expected delivery at the second half of 2010 and 2011. ...
2009-03-11 15:52:10
No pullback in orderbook: Sinotrans
Sinotrans says it has no plans to scale back its orderbook as the gloom is beginning to lift in the dry-cargo sector. The shipowner, which yesterday unveiled a 146% rise in full-year profit, will still splash out $388m on new vessels over the next...
2009-03-11 10:19:38
LNG carriers on standby reach all-time high
The number of LNG carriers on standby worldwide due to cargo shortage has reached a record-high of above 50 units. About 20% of the LNG carrier fleet has now become surplus and operators are struggling to cope with the situation. But, it is projected...
2009-03-11 08:27:39
Grain demand sends panamaxes soaring
Panamaxes have led a strong revival in bulk fortunes over the past few days. The Baltic Dry Index yesterday rose to the highest since October 9 on demand to ship South American grains. The index advanced 37 points, or 1.7 percent, to 2,262 points...
2009-03-11 07:47:50
Cido seeks to sell newbuildings at discount
CIDO Shipping is offering up to 40% discount to Taiwan’s Wan Hai Lines for two 1,800 teu containership newbuildings built by Taiwan’s CSBC Corporation. Wan Hai Lines said in a regulatory filing that it will decide whether to purchase the two boxs...
2009-03-11 07:07:58
Maersk Line to lay up 25 boxships
As many as 25 containerships could be taken out of service by Maersk Line as the market leader grapples with a collapse in demand at a time of fast rising capacity and impoverished freight rates. Maersk could withdraw vessels with a combined capa...
2009-03-10 07:44:52
Hosco to scrap ten bulkers
Chinese dry bulk vessel owner Hebei Ocean Shipping said it would scrap more than 10 older capesize and panamax vessels and replace them with newbuilding tonnage by the end of this year. Chairman Gao Yanming said that all shipowners in the dry bulk sh...
2009-03-10 07:42:13
China to import more LNG from Qatar
A senior official with China's largest state-own gas company said on Saturday that China planned to import more liquefied natural gas (LNG) from Qatar in the coming years to feed the huge demand of domestic market. Fu Chengyu, general manager of ...
2009-03-09 13:16:48
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