New Times grants Cargill’s Suezmax request （2015-04-09）
China’s New Times shipbuilding yard has agreed to Cargill’s request to convert the second vessel of a two-vessel Capesize bulker order to a Suezmax tanker. Cargill originally ordered the 180,000 dwt p... |
Precious Shipping: BDI does not tell our pain （2015-04-09）
The Baltic Dry Index (BDI) may have reached an all-time low this year. Even so, taking into account the inflation since the previous historic low in 1986, the index does not give the whole picture of ... |
Over-tonnage suppresses dry bulk chartering （2015-04-09）
Despite a healthy number of bulkers being fixed prior to the Easter holiday, rates are still depressed as oversupply of tonnage remains severe. Last week saw 92 bulkers being chartered prior to 3 Apri... |
Triyards profit drops 34% （2015-04-07）
Singapore-listed offshore services provider Triyards Holdings recorded a drop in profit to USD5.1 million or 34% year on year (y/y) for the second quarter ended 28 February 2015 due to lower revenue. ... |
AVIC Maritime takes majority stake in AZM （2015-04-07）
Singapore-listed state-owned Chinese shipbuilding group, AVIC International Maritime, has taken a 60% stake in affiliated AVIC Zhenjiang Shipyard Marine (AZM). AVIC International Maritime, led by exec... |
Pacific Basin downsizes chartered-in fleet （2015-04-07）
Hong Kong-listed Pacific Basin Shipping has trimmed its chartered-in fleet by nine to 129 vessels amid the persistent weak bulk shipping market. The company’s bulk carrier fleet comprises 209 bulkers,... |
HHIC secures new ULCS orders （2015-04-07）
South Korean shipbuilder Hanjin HI (HHIC) has confirmed that French liner operator CMA CGM has ordered three new ultra large containerships (ULCS's). The 20,600teu vessels are due to be delivered in 4... |
MT Maritime continues to expand its fleet （2015-04-07）
US chemical tanker operator MT Maritime Management has ordered four new vessels in order to expand its fleet. According to the company's website, it has two 21,000 dwt chemical tankers on order at Kit... |
China vessel exports up 38.5% y/y （2015-04-07）
China's vessel exports rose 38.5% year on year (y/y) to USD6.1 billion in the first two months of 2015, according to customs statistics. The exports are likely to decrease later this year as new order... |
MOL set on container business return to profit （2015-04-02）
As the container business has been dragging down Mitsui OSK Lines' (MOL's) profits in recent years, its president, Koichi Muto, has expressed a determination to restore profitability to the sector in ... |
No let-up seen for Panamax bulkers （2015-04-02）
The market environment for Panamax and post-Panamax bulk carriers remains challenging, and has been particularly affected over the past year by the slowdown in coal trades, said Italian broker Bancher... |
Chinese shipbuilders' market share weakens （2015-04-02）
Although Chinese shipbuilders have been winning fewer orders since the start of the year, this would not mean more business for South Korean shipbuilders, said an analyst. Samsung Securities analyst H... |
OOIL orders six 21,100 teu box ships （2015-04-02）
Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), has placed a new order for six 21,100 teu container ships at Samsung Heavy Industries for USD951.6 ... |
JES International still in red for 2014 （2015-04-02）
Singapore-listed Chinese shipbuilding group JES International has announced another loss for 2014. In a Singapore Exchange filing, JES International said it had a loss of CNY290.466 million (USD46.83 ... |
Jurong secures Heerema crane vessel LOI （2015-04-02）
Singaporean shipbuilder Jurong Shipyard, a subsidiary of Sembcorp Marine, has secured a letter of intent (LOI) for a semi-submersible crane vessel (NSCV) from Dutch owner Heerema Offshore Services, a ... |
Hamburg Bulk Carriers adds 11 vessels （2015-04-02）
German Handysize operator Hamburg Bulk Carriers (HBC) is expanding into the Supramax and Panamax segments with the award of third party management contracts for 11 ships of 53,000 to 82,000 dwt. The c... |
CMA CGM profits up 43% （2015-04-02）
French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth in volume and significantly reduced ... |
China Shipping Development back to profit （2015-04-02）
Shanghai- and Hong Kong-listed China Shipping Development announced on 26 March that the company has recorded profit of CNY309 million (USD49.6 million) for 2014, returning to black from the loss of C... |
Epic Gas sells two ships （2015-04-02）
Singapore-based pressurised gas carrier owner Epic Gas has sold two of its older ships. The company said 1997-built Epic Cebu and 1996-built Cefalu have been sold to buyers engaged in Southeast Asian ... |
Rickmers confirms 9,300 teu swoop （2015-04-02）
Hamburg shipowner Rickmers Group today confirmed the takeover of three 9,300 teu newbuildings that are under construction at Korean builder STX. It said the ships have been acquired jointly with a fin... |