Shipping
Wake-up call for Koreana
South Korean shipyards may not be able to ignore the crisis engulfing container shipping for much longer. So far, they have largely rebuffed the increasingly desperate pleas from owners with containerships on order that are destined to go straight in...
2009-04-15 09:21:00
Capesize and panamax markets slow
Activity in the capesize and panamax markets came to a standstill at the end of last week, as Easter holiday celebrations in Europe kept trading levels low. “It’s very quiet — brokers have either taken the opportunity to go on holiday or...
2009-04-15 07:10:56
Tanker still in doldrums
The tanker freight market has been following the way of dry bulk as freight rates are falling. The market begins to feel the bad combination of fewer cargoes, as OPEC cut its production and demand for oil is quite weak in the industrialized world...
2009-04-15 07:02:06
Banks to examine 37 shipowners: Korea
South Korea’s Financial Services Commission has recommended banks draw up restructuring measures for ailing shipping operators before the end of April. South Korea is home to 160 shipping companies, which have between them notched up debts total...
2009-04-15 06:58:21
CSAV may cancel post-panamax quartet
The future of Chilean carrier CSAV's newbuilding portfolio is in the hands of the banks. The buzz is mounting that four 12,550-teu post-panamaxes on order for the line may be cancelled. A decision appears imminent as bankers involved in CSAV's res...
2009-04-13 07:07:58
K Line halts fleet expansion plans
A Japanese player is rethinking plans to expand its boxship and car-carrier fleets. Japan's K Line has drawn up a plan to reduce its fleet size in response to the downturn and is rethinking its long-term expansion ideas. Containerships and car ...
2009-04-13 07:00:37
China, key for shipping
Despite the global recession, China remains vital to the future performance of shipping markets. Isn't it disturbing just how short our collective memory can be at times? And isn't it just as shocking how we can forget even hard-learned lessons so qu...
2009-04-13 06:56:09
Cosco cuts capital expenditure by 37%
The “difficult situation” facing the container terminals and box leasing businesses is likely last for the whole of this year, according to Cosco Pacific, China’s largest container terminal operator. Vice chairman and managing director Xu Minji...
2009-04-10 07:07:34
$3bn fund authorized for shipowners
The South Korean government will launch a 4 trillion-won (US$3bn) fund to help local shipping companies, government officials said Tuesday. According to the Ministry of Land, Transport and Maritime Affairs and the Financial Services Commission (FS...
2009-04-09 07:13:09
Tanker rates reach record-lows
The crude oil tanker market is further weakening, with rates on VLCCs dropping below WS30 for those bound for Taiwan, representing the lowest level since September 2002. Even the Suezmax tanker market, which had been relatively strong until late-M...
2009-04-09 07:02:09
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