Shipping
DVB warns of huge boxship orderbook
The container-shipping industry has "no magic solution" to the impending problem of an all-time-high in newbuilding deliveries. Today's orderbook is more than half the size of the container-shipping fleet and is likely to vastly outnumber ships du...
2009-03-09 11:55:46
Listed shipping firms should name charterers
Public shipping companies face calls to disclose more information about the charterers of their vessels after the freight market collapse saw bankruptcies and contract defaults dramatically cut revenues and raise risk. Exchange regulations and intern...
2009-03-09 07:18:34
Nanjing Tanker has 16 VLCCs on order
China's Nanjing Tanker Corporation (NJTC) has many more VLCCs on order than previously reported. State-owned NJTC has 16 VLCCs on order at present, all from Chinese yards, with no cancellation plans despite ongoing economic turmoil, a company source ...
2009-03-09 07:14:46
Dry bulk slump to 2011: CICC
A recent Chinese investment bank report paints a grim outlook for dry bulk shipping, suggesting the downturn will last three years through end 2011. China International Capital Corporation (CICC) has cut its year-on year-growth forecast for 2009 g...
2009-03-09 07:06:56
SCI to push back VLCC tender
India's state-owned Shipping Corp of India (SCI) is ready to push back plans for a second time to build four VLCCs. Industry sources claim SCI is considering dropping the tender altogether amid uncertainty over future tanker prospects. However,...
2009-03-06 17:31:54
NITC plans VLCC order
An Iranian owner says more orders are on the cards when the economic outlook becomes clearer. The National Iranian Tanker Co (NITC) wants to order a series of no less than 12 VLCCs but company officials say they are waiting for a clearer picture o...
2009-03-06 17:25:45
Greeks hail record 2008 revenues
Revenues from Greek shipping hit an all-time high last year, according to the Bank of Greece. However, the last two months of the year reflected the woes of the dry cargo markets. Official earnings from the industry totalled €19.2bn ($24bn) in 2...
2009-03-06 16:49:28
37 shipping firms selected for possible restructuring
South Korean government is starting in on shipping companies before they’ve even finished the second round of restructuring at shipbuilders and construction companies, according to the top financial regulator. The Financial Services Commission yest...
2009-03-06 16:41:59
Shipping fund to be set up to buy vessels
Amid fears of a bankruptcy chain reaction South Korea is looking to set up a shipping fund to buy vessels from distressed companies. It will aim to buy idle vessels in a scheme which intends to prevent struggling owners from selling ships at knock...
2009-03-06 07:39:38
South Korea aims to restructure shipping
South Korea's financial watchdog plans to focus on restructuring ailing shippers so as to prevent their default risks from further deteriorating the economic condition, Xinhua writes. "The watchdog plans to urge creditor banks to wrap up their credit...
2009-03-06 07:19:59
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