Shipping
Norden sells bulkers for liquidity
Danish shipping group Norden has sold six dry bulk vessels for a total of $175m, as it pares back its fleet to free up cash. The sales would generate a profit of $13m, the company said. The vessels include two panamax and four handymax ships that...
2009-01-07 07:07:36
Signs of recovery: Dry bulk market
The dry bulk market slump is expected to continue into this quarter due to the uncertainties in demand of iron ore transportation although it has shown slight signs of revival in mid-December. Last year, the Baltic Dry Index (BDI), the barometer ...
2009-01-06 14:22:39
No relief in sight : Shipping sector
Lim Dong-pyo, planning director at TPC Korea, one of the country’s top 10 shipping companies, recently visited the Korea Shipowners’ Association and financial institutions to ask for liquidity assistance. The company placed an order for 10 sh...
2009-01-06 09:34:47
“Welcome”, recession: MOL boss said
The president of Japanese shipping group Mitsui O.S.K. Lines, Akimitsu Ashida, has warned in his New Year address to his company that the downturn in the shipping industry could last two years. However, he stresses that there will be positive aspects...
2009-01-06 07:38:53
Genco takes Cape newbuild
Genco Shipping & Trading Limited has taken delivery of the Genco Hadrian, a 170,500 dwt Capesize newbuilding. The Genco Hadrian is the sixth vessel to be delivered to the company under Genco's previously announced agreement on July 18, 2007 to acquir...
2009-01-06 06:56:27
Nigeria to phase-out single hull by 2010
The Federal Government has concluded plans to phase-out single hull vessels within the nation's maritime territory, in compliance with the directive of the International Maritime Organisation (IMO). Already, a technical committee, comprising of sh...
2009-01-05 06:32:02
SCI newbuild $3bn
Shipping Corporation of India (SCI) plans to invest around $3 billion for acquiring 40 ships to double its tonnage capacity to around 10 million dwt (dead weight tonnes) by 2015. This excludes the current order book of 29 ships costing $1.6 billio...
2009-01-02 09:18:05
Euroseas sells Pax.
Dry bulk and container shipowner and operator Euroseas has signed a Memorandum of Agreement to sell its panamax bulk vessel the Ioanna P for $3.85m. The 64,873 dwt, 1984-built bulker will be delivered to its new owners in January 2009, the company...
2009-01-02 07:22:46
Genco takes new Cape
Genco Shipping & Trading Limited yesterday announced that it has taken delivery of the Genco Hadrian, a 170,500 dwt Capesize newbuilding. The Genco Hadrian is the sixth vessel to be delivered to the Company under Genco's previously announced agreemen...
2008-12-31 11:24:59
NSCSA continues with fleet expansion
An ambitious plan to double the National Shipping Company of Saudi Arabia (NSCSA) fleet by 2011 is to go ahead despite financial turmoil and recession worries. Cancellation of VLCC orders placed with Hyundai Samho in South Korea and other newbuilding...
2008-12-31 07:50:46
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