Shipping
Is it time for bulker shopping?
The dry bulk industry may be on the decline with lower asset valuations and tumbling freight prices, but some investors believe that the record-low valuations may spur some positive action. Dry bulk shipping rates have plummeted more than 90 percent ...
2008-12-30 09:46:26
More than 400,000TEUs idle,,,
Over 200 container ships likely will be laid up in the New Year as charter ship owners and ocean carriers adjust to weakening cargo demand, plunging freight and vessel hire rates, and an influx of new ships onto key liner trade routes. Some 165 co...
2008-12-30 09:39:16
Tankers triumph : best year
The past 12 months has been the best year ever for tanker owners, a report from a leading Norwegian shipbroking house claims. But the good times may be at an end as the same report suggests rates could be set for a downward trend next year. The ta...
2008-12-30 07:16:43
Eagle sold supramax newbuild
US-listed Eagle Bulk Shipping has reportedly sold the 56,000-dwt bulker newbuilding Crested Eagle. The ship is set for delivery from IHI shipyard in February 2009 and is said to have gone to a Japanese buyer for $34m. In November a similar ship th...
2008-12-30 07:06:55
Ship demolition delay
The last week of the year was marked by relative calmness, according to the latest report on the demolition market, compiled by GMS. Since the beginning of October the world market has been characterized by an aggressive supply of tonnage, followed b...
2008-12-29 10:31:50
OH Meling takes newbuildings
Stavanger-based owner OH Meling is expanding its fleet with newbuildings and will take delivery of five vessels next year. It means rapid growth for the company, which just over a year ago had only one vessel, the 5,500-bhp platform-supply vessel ...
2008-12-26 07:06:41
Japan launches first solar cargo ship
Japanese shipping giant Nippon Yusen K.K. and oil distributor Nippon Oil Corp. 19 Dec. launched the first-ever cargo ship with a propulsion system powered, in part, by solar energy. The freighter, which left a port in Kobe carrying vehicles by Toyota...
2008-12-25 17:05:18
Hartmann orders two capes
A German player is honouring an order in China for a pair of vessels. Hartmann Schiffahrts of Germany is making a foray into the capesize sector with a contract for a pair of 176,000-dwt units at New Times Shipbuilding in China for delivery in the se...
2008-12-24 09:09:24
Libyans hunting aframax
A state-owned tanker player is slated to take five ships from Geden Lines, raising its spending in the last month to $500m. Libyan tanker operator General National Maritime Transport Co (GNMTC) appears to be pressing ahead with its fleet revitalisati...
2008-12-24 08:48:57
Newbuilding resales for Glenda
D’Amico International Shipping and Glencore Group have each sold two newbuildings to joint venture company Glenda International Shipping. The transfer of the 46,000-dwt quartet on order at Hyundai Mipo Dockyard will take Glenda's fleet to 14 ve...
2008-12-24 07:24:15
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