Shipping
Capesize charter rates recover to $30,000 level
Continued growth in the Capesize market has driven the charterage level to recover, significantly pushing past the break-even charter rates of Japan's Big Three operators. Fixtures being closed at present, however, are for cargo loadings in late-...
2009-02-11 07:57:34
Prolonged downturn will ‘jeopardise ship safety’
The economic downturn will lead to an increase in ship incidents and pollution, the new chairman of the European Maritime Safety Agency (EMSA) has predicted. Maritime companies are now more likely to postpone maintenance and the installation of new e...
2009-02-11 07:34:05
NOL saves $250m by newbuildings delay
Neptune Orient Lines has delayed the delivery of all eight of its 10,000 teu newbuildings, and some chartered-in tonnage, as part of plans to save at least $250m in 2009 as it sinks into the red. NOL said that it had delayed the delivery of both ...
2009-02-11 07:27:48
GdF Suez LNG’s fleet strategy
GdF Suez LNG vice-president Jacques Blanchard explains the strategy behind the company's soon-to-be 20-strong fleet. When French utility giant Gaz de France (GdF) and energy group Suez merged last year, LNG was named as one of the new group's key ...
2009-02-09 06:49:10
K Line adds to specialised coal carrier fleet
Japanese shipping giant Kawasaki Kisen Kaisha this week launched its newest 88,000 dwt-type special coal carrier, the “Tohoku Maru” (pictured), at Imabari Shipbuilding’s Marugame Shipyard. The 88,159dwt Tohoku Maru is same type as “K” Line...
2009-02-06 07:49:28
Shipowners turn to Maersk for advice on ship breaking
AP Moller-Maersk is taking an increasingly active role in the ship demolition business by offering consultation services to shipowners, writes Liz McCarthy. The Danish shipping group is assisting six owners, who are spread around the world, said s...
2009-02-05 14:15:18
Car carriers are now ‘car parks’
Car carriers are increasingly being used to store unwanted vehicles in the economic downturn. In an echo of the use of VLCCs by oil companies to store crude, the Financial Times reported that the move by manufacturers was a boost for a sector that...
2009-02-05 08:11:15
STX Pan Ocean wins $20m COA
S. Korea’s STX Pan Ocean has won a $20m deal with a domestic power company to ship coal. The three-year contract of affreightment (COA) with Korea South-East Power Co calls for the transport of 1m tonnes of steaming coal per year. It will load t...
2009-02-05 07:58:57
Laid-up Capes Returning
A bounce-back in dry-cargo rates has halved the number of capesize vessels in lay-up with almost all idle capes expected to be back in action soon, leading analysts claim. Rising iron ore prices and increasing Brazilian exports are driving the res...
2009-02-05 07:37:36
Baltic Dry Index posts eighth straight rise
Despite many analysts and brokers claiming that the Chinese Holidays would have a negative impact on the BDI (Baltic Dry Index), it managed to post yet another rise, the eighth in a row. It ended the session at 1036 points, up by another 22 points...
2009-02-02 07:21:49
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