Shipping
Indian bail-out?
The Indian government is plotting a shipping bail out in the form of a borrowing subsidy. The state wants to protect the industry from the rising cost of finance by coughing up 2% to 3% of loan expenses, local media reported. It is estimated India...
2008-12-16 08:20:09
Go ahead for dry bulk
A revival of the ailing Capesize market drove the Baltic dry market ahead during the past week, with the Baltic Capesize Index (BCI) moving at fast paces, quickly leaving the 1,000-points mark and closing the week at 1,331 points. The BCI managed to ...
2008-12-15 14:04:33
Iran continues fleet expansion
The Islamic Republic of Iran's Shipping Lines will take delivery of three new oil supertankers in the first-quarter of 2009, boosting its fleet by 12 percent, a senior company official said. According to ISNA, Iran is the world's fourth-largest o...
2008-12-15 14:04:01
AP Moller-Maersk suspends new investment
Nils Andersen has slammed the brakes on all new investment at AP Moller-Maersk in light of the global economic slowdown. The company has been hit by collapsing container rates and a crash in energy prices and will earn less money in the coming yea...
2008-12-15 08:35:59
'Resurgence' for Capes but still 'miserable&#...
The Baltic Exchange reports that the Capesize market has seen a resurgence this week. Renewed interest on the period market has seen modern 177,000 dwt tonnage fixing for a year at $17,500 daily. In Asia reports of Chinese buying spot iron ore from A...
2008-12-15 08:23:17
Owners worry about fall in secondhand price
Shipowners in Japan are getting nervous about falls in secondhand ship prices. Drops in asset value are giving a direct blow to businesses of owners, especially those holding ships with their charter contracts terminating shortly. Such price falls wi...
2008-12-15 08:22:13
GE cuts dry bulk fleet
Great Eastern Shipping, India’s largest private sector shipping company, is bringing down its exposure to the dry bulk segment to withstand the 93 per cent downfall in freight rate for such vessels. In the last three weeks, the Mumbai-based shipper...
2008-12-12 11:19:12
Sixth new ship for Seaspan delivered
Seaspan Corp. announced that it took delivery of the CSCL San Jose, a newly-built 2500-TEU ship constructed by Jiangsu Yangzijiang Shipbuilding Co., Ltd. The sixth new addition in 2008 expands Seaspan's operating fleet to 35 vessels with 33 remaining...
2008-12-11 09:20:58
BDI rise: room for hope?
With the long-forgotten capesize sector acting as the leader, the Baltic Dry Index posted its second straight rise on December 9th, leaving room for hope among ship owners of dry bulk carriers, who are still awaiting for rates to pick up at least unt...
2008-12-11 08:28:43
SCI delays tender for VLCCs
Shipping Corp of India is going cold on a tender for a $600m VLCC quartet as it hunts for bargains in the second hand market, it is claimed. Delaying the purchase would mean the state-owned giant has put off deals for over $1bn worth of new vessel...
2008-12-11 08:19:56
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