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Shipping
VLGC rates see five-month high
Charter rates for very large gas carriers rose to a five-month high of more than $20 per tonne for Middle East to Asian routes. Demand rose as charterers booked tonnage to cover more frequent liquefied petroleum gas exports in the Middle East in A...
2009-04-01 07:53:46
Panamax rates to slide again
Pacific panamax rates could be set for another battering this week as a lack of new cargoes takes its toll on the sector. Brokers said yesterday that this was despite the surprise gain in rates towards the end of last week, which caught many off g...
2009-04-01 07:36:20
Suezmax rates sink to 10-year low
Suezmax charter rates in West Africa slumped to a 10-year low of W60 last week, as a dearth of cargoes limited activity. Brokers believe that rates have not hit their bottom level yet, and expect to see a further decline in earnings this week. “...
2009-03-31 07:36:53
VLCC rates fall to new lows
Rates to hire very large crude carriers shipping cargoes to the Western hemisphere dropped to new lows last week, as inquiries dried up and demand plummeted. On Friday, Geneva-based broker Riverlake Shipping put its VLCC route rate from the Middle...
2009-03-31 07:34:32
Dry bulk market still losing
The dry bulk market seems to have lost its momentum during March, as evidenced by the fall from the highs of almost 2,300 points (the best level from the fall of 2008), to just 1,687 points last Friday. During the previous week, the Baltic Dry Index ...
2009-03-31 07:28:35
Over 500 Pax. to be in surplus
More than 500 Panamax bulkers may be in surplus on the global market by 2011, according to a new projection by major German ship financing firm DVB. A foreign newspaper quoted DVB as saying that the supply-demand gap will widen as the global flee...
2009-03-30 07:09:21
Yujin sticks to promise with tanker orders
Newly London-listed Asian owner Yujin International has made good on its promise to order new vessels despite the downturn. The Singapore-based company says it has signed contracts for two 5,500-dwt IMO II tankers plus two options at an unnamed Ch...
2009-03-30 06:53:16
'Drastic' cut in Clipper Group bulker orders
Denmark's Clipper Group has drastically reduced its exposure to bulker newbuildings. The Copenhagen-based owner says its bulker orderbook is expected to fall from almost 60 to around 15 or 16 vessels. President and chief executive Frank Jensen say...
2009-03-30 06:50:21
Chowgule denies plan to delay deliveries of Saiki bulkers
Chowgule Steamships is denying reports that it is looking to push back the delivery of at least two of its bulkers on order at a Japanese yard. Sources say the Indian owner plans to postpone the delivery of a 37,000-dwt handymax and 29,000-dwt han...
2009-03-30 06:42:19
Polsteam gives orders full gas
A confident Polish operator is persevering with its orders for handysize and kamsarmax bulkers. Polish Steamship Co (Polsteam) says it is pressing ahead with the remainder of its massive newbuilding programme. Polsteam, which claims to have avo...
2009-03-30 06:39:47
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