Shipping
150,000TEU worth of ships idle
A dozen container ships with capacities ranging from 5,000 to 8,500 teu were believed to be lying idle at the ports of Singapore, Hong Kong and Shanghai early this month, according to French box watchers AXS-Alphaliner. Alphaliner said it expected a ...
2008-11-18 14:17:17
Moody's negative look on shipping sectors
Moody's Investors Service has a negative outlook for all three shipping sectors of dry bulk, tankers, and liners in Asia Pacific over the next 12-18 months. Moody's said in a report on Monday that the global economic downturn, tightening bank cred...
2008-11-18 11:58:45
Cido axes tank order
Japanese-korean shipping player is said to have axed six ships on order at Sungdong Heavy Industries. The global credit squeeze is said to have pushed Cido Shipping to cancel its long-range-one (LR1) products tankers on order in South Korea. Accor...
2008-11-18 09:39:36
Stella boosts cargoship pair
Marstal-based Stella Shipping continues to expand its fleet and has ordered two small cargoships at a yard in Bangladesh. The 2,900-dwt vessels are sisterships to another two units ordered earlier at Ananda Shipyard in Sonagaon for delivery in 2010....
2008-11-18 09:03:47
Mitsui O.S.K. may mothball, scrap ships on rate slump
Mitsui O.S.K. Lines Ltd., Japan's most profitable shipping line, may mothball some of its largest vessels for the first time in over two decades as charter rates have fallen 98 percent over the last five months. The world's largest merchant fleet ope...
2008-11-17 06:15:15
Secondhand ship market resumed at low price levels
The secondhand ship market, which has been at a complete standstill due to a dry market plunge and the financial crisis, is becoming active again. Norden of Denmark announced on Nov. 12 that it has decided to sell three secondhand bulkers including P...
2008-11-14 16:08:26
Owners demand order amid dry bulk crisis
A CRISIS of confidence has enveloped dry bulk shipping, with owners demanding a restoration of order in the market to address default threats and rising mutual distrust among counterparties. “The industry is facing the same things we have seen ...
2008-11-14 10:55:19
Sanko continues newbuildings
Sanko Steamship recently disclosed its plan to secure two 32,000-dwt box-shaped ships, to be completed in 2009, and a Suezmax tanker, to be completed in 2011, by chartering them from their owners. With these three ships, Sanko has a total of 129 vess...
2008-11-13 14:25:31
Cido considers sale of fleet
Cido Shipping has confirmed it is evaluating a range of “strategic alternatives” with regards to its huge product tanker fleet. “These alternatives may include, but are not limited to, a sale of the fleet or other strategic transactions,”...
2008-11-12 14:35:15
Speculation mounts over Eagle Bulk newbuilding orders
EAGLE Bulk Shipping, the Nasdaq-listed supramax bulker specialist, is rumoured to have joined the list of companies who have opted to forfeit deposits on newbuilding orders rather than be stuck with seriously discounted assets with no timecharter cov...
2008-11-12 10:01:06
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