Shipping
Euroseas has taken advantage of a crash in bulker values
It will pay around $18m for the 46,667-dwt Solar Europe (built 1998), which will be handed over in January 2009. Aristides Pittas, chairman and CEO of Euroseas, said: “Over the last two years, we generally avoided investing in the dry-bulk marke...
2008-12-08 09:01:43
Fairstar secures rig transport contract
Fairstar Heavy Transport NV (FAIR) has entered into an agreement with Northern Offshore U.K. Ltd. to transport the drilling rig, ‘Energy Exerter’ from Invergordon, Scotland, to Kavalla, Greece. The total contract value is approximately USD 3....
2008-12-08 08:47:27
Global LNG ship orders slump to lowest
The world’s biggest shipyards led by Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. will record the lowest liquefied natural gas tanker orders in a decade as charter rates halve, a consultant said. “This year saw the lowest ord...
2008-12-05 17:30:26
Maersk Line lays up eight boxships
More than 50,000 teu of containership capacity is being banished into full lay-up by Maersk Line, the world’s leading liner shipping operator, in another significant move to take tonnage out of the market rather than leave it idling. The Danish ...
2008-12-05 08:28:15
Diana Shipping announces time charter contract
Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, announced Dec. 3 that it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk carriers...
2008-12-04 07:12:38
Japanese ore import reductions may impact freight rates
The rather perilous dry bulk market may see a further reduction to freight rates if Japanese steel makers are successful in cancelling existing contracts for imports of iron ore and coking coal. It was reported that the world’s second-largest st...
2008-12-03 07:02:53
ECSA chief calls for ship scrapping plan
European Community Shipowners’ Association chairman Philippe Louis-Dreyfus is to seek the organisation’s backing for a plan to scrap ageing ships as a means of restoring supply-and-demand balance on the shipping market. Mr Louis-Dreyfus decli...
2008-12-03 06:58:27
Baltic capesize and panamax indices hit rock bottom
Capesize and panamax indices are at the lowest-ever levels recorded in the Baltic Exchange’s history. The capesize index on December 2 fell to 830 points and the average time charter rate to $2,316 per day, less than 1% of the record high of $2...
2008-12-03 06:47:49
ST Marine secures seismic vessel
Singapore Technologies Marine Ltd (ST Marine), has secured a S$30 million (US$19.8 million) contract to provide detailed design, construction and outfitting of a 68 m x 15 m seismic survey vessel for Swire Pacific Offshore Operations (Pte) Ltd (SPO),...
2008-12-02 16:40:29
Secondhand Cape bulker prices falling
The sale and purchase market of secondhand Capesize bulkers is gradually moving downward. According to market report, Greek owner Cardiff Marine sold a 1989-built 207,000-dwt bulker, the Corossol, to a Chinese owner for about $25 million. It seems th...
2008-12-02 10:53:32
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