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Dry bulk: Newbuilding cancellations expected to rise

Tuesday, 09 February 2010

article thumbnailNewbuilding contracts without guarranteed financing, a common phenomenon for those signed during 2008, are expected to be cancelled in the coming months, especially as owners are still looking to get rid of expensive vessels. By today’s standards, those contracted vessels are thought to be...
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Hellenic Debt Crisis Strengthens Dollar, Sends Oil Prices Lower

Tuesday, 09 February 2010

article thumbnailDuring the last month, the Hellenic debt crisis has worked as the ideal pressure mechanism in order to send euro currency to lower levels versus the U.S. dollar. Speculators did not lose the chance to earn money from the high interest rates of Hellenic bonds. At the same time the fear that the country’s problems can be spread to the other...
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Seanergy Maritime Holdings Corp. Announces Termination of Agreement

Tuesday, 09 February 2010

article thumbnailSeanergy Maritime Holdings Corp. announced yesterday that, due to market conditions, the Company's Board of Directors has determined to terminate the memorandum of agreement for the intended acquisition of a 2009 Capesize vessel as described in the Company's prospectus dated January 28, 2010.
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CURRENCY TECHNICAL REPORT Charts, Trends, Tactics, Support and Resistance Levels

Tuesday, 09 February 2010

article thumbnailThe Euro pushed higher against the US Dollar amid renewed hopes that a bail-out of Greece will be announced shortly, but rising costs of protection against default in Spain and Portugal reveal...
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Trailer Bridge Reports 2009 Fourth Quarter and Year End Unaudited Financial Results

Tuesday, 09 February 2010

article thumbnailTrailer Bridge, Inc. yesterday reported unaudited financial results for the fourth quarter and full year ended December 31, 2009. The Company reported operating income of $3.6 million in the fourth...
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GE Shipping: In safe waters

Tuesday, 09 February 2010

article thumbnailThe shipping industry has witnessed a strong improvement in its operating environment over the past few weeks, as in the key tanker segment, which consists of transporting crude and allied petroleum...
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Bleak outlook for dry bulk shipping in 2010

Tuesday, 09 February 2010

article thumbnailThe outlook for dry bulk shipping in 2010 is bleak due to the imbalance between demand and supply, according handysize specialist Precious Shipping.
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Container shipping may get costlier

Tuesday, 09 February 2010

article thumbnailThe spot rate for container shipping on the Asia-Europe route is likely to rise to $2000 per TEU in two months as carriers plan to take out more capacity following the Chinese New Year due from the...
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China Shipping Development Forming USD1.606bn VLOC Fleet

Tuesday, 09 February 2010

article thumbnailChina Shipping Development Co., Ltd., through a cargo ship affiliate, just received its first 230,000DWT very large ore carrier (VLOC), the first of its kind built by Chinese shipyards.
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TMT ship and yet another MSC box carrier 'bite the dust'

Tuesday, 09 February 2010

article thumbnailThe world's second largest box carrier Mediterranean Shipping Company (MSC) is 'dead serious' with its scrapping drive, market sources told Ocean Intelligence, in a week that saw at least 11 vessels...
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Panama Canal revamp boosts China and puts Buffett bet at risk

Tuesday, 09 February 2010

article thumbnailYesterday a team of local workmen in Panama would start to dig a hole partfunded by Japan, aided by Latin American cash and big enough to hold the world’s biggest Danish-owned, South...
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Qapco, Norgas sign pact for cargo transport

Tuesday, 09 February 2010

article thumbnailThe Qatar Petrochemical Company (Qapco) and Norwegian shipping company Norgas have signed a Contract Of Affreightment (COA) for the transportation of ethylene from Mesaieed to various international...
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Asian shippers want action over freight rate hikes

Tuesday, 09 February 2010

article thumbnailThe Asian Shippers Council has a called on the Chinese government to act against sharp increases in container freight rates in recent weeks, despite the glut of overcapacity in the market.
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Greener ships - hull improvements

Tuesday, 09 February 2010

article thumbnailThere is a great deal that can be done with the shape of a ship to reduce its impact upon the environment and new ideas are appearing all the time. The end product is improved efficiency,
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Egypt Suez Canal gets highest daily revenue since May

Tuesday, 09 February 2010

article thumbnailThe Suez Canal Authority earned $17 million in revenue on Monday, its highest daily figure since May, its spokesman said, adding it was an indication that the global economy was recovering.
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Sri Lanka shippers brace for more freight rate hikes

Tuesday, 09 February 2010

article thumbnailSri Lankan shippers said they anticipate further hikes in freight rates as cargo flows improve after the recession with loss-making shipping lines trying to regain profitability and fewer ships...
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DP World expects relaxation in Indian cabotage policy

Tuesday, 09 February 2010

article thumbnailThe company expects that the Indian government will soon take a decision on the relaxation of the cabotage policy, given its huge investment in the Vallarpadam port project.
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Asia Gasoil/Jet-India MRPL offers more March lots

Tuesday, 09 February 2010

article thumbnailIndia's Mangalore Refinery and Petrochemicals Ltd (MRPL) is offering 40,000 tonnes of 0.5 percent sulphur gas oil and 36,000 tonnes of jet fuel for end-March lifting, tender documents showed on...
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India Inc sees only temporary relief in commodity prices

Tuesday, 09 February 2010

article thumbnailThe weekend saw commodity prices tumble the most since August, amid expectations that they will soften further. But, that may have been only temporary relief for India Inc, as the general expectation...
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Petrol production may be moving away from the developed world for good

Tuesday, 09 February 2010

article thumbnailThe world has assumed that a bounce in the fortunes of crude is a sign of global economic recovery. But demand for petroleum products – whether gasoline for haulage or heavy fuel for shipping...
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Japan Current-Account Surplus Widens for Fifth Month

Tuesday, 09 February 2010

article thumbnailJapan’s current-account surplus widened for a fifth month in December as demand from Asia helped exports advance for the first time in more than a year.
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