Dry bulk overcapacity looms but offset factors come in from emerging economiesMonday, 08 February 2010Most analysts seem to agree that one the biggest hurdles lying ahead for a recovery of the dry bulk shipping sector is the looming oversupply of vessels, as evidenced by the huge global orderbook. In its latest feature
interview, Hellenic Shipping News Worldwide, speaks with Mr. John
Cotzias,... Read More
IMAREX: All segments see sharp rise in transactions in JanuaryMonday, 08 February 2010The number of freight derivative transactions was up 119% on the previous month, to 2 086, while the volume of lots was up 69%, to 44 931 , with the overall trade value increasing 40% to USD 912 million. The greatest month-on-month growth in transactions was seen in tanker derivatives, up 134%, while the... Read More
Cold Weather Supports Oil Prices, but Economic Recovery Remains the Main FactorMonday, 08 February 2010The world economy is expected to grow by 3.1% in 2010, revised up from the previous forecast of 2.9%. Most of the challenges for the OECD have not gone away entirely and the region is still dependent on government-led support. In the US, which is now forecast to grow by 1.9%, private... Read More
Baltic Dry Index drops for third straight week Monday, 08 February 2010The Baltic Dry Index, a measure of shipping costs for commodities, advanced for a second day on Friday as higher rents were secured by owners of iron-ore carriers. The index rose 30 points, or 1.1... Read More..
CSAV Norasia improves service to the GulfMonday, 08 February 2010CSAV Norasia is to mprove its services to the Gulf by launching a dedicated feeder service Intra Gulf. The new service will primarily attend cargoes carried to ‘Upper Gulf’ ports by the... Read More..
Two-day Dubai event to discuss piracy threatMonday, 08 February 2010Security officials from the shipping industry will gather in Dubai for two days starting tomorrow to discuss the security threat posed by piracy amid such growing incidents.
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CLARKSON HELLAS S&P WEEKLY BULLETINMonday, 08 February 2010Even with the imminent Chinese Lunar New Year, we have experienced a very active week in the dry sector and a firming of prices for modern tonnage as a result of the few candidates in the market for... Read More..
Sixty eight ships expected at Lagos PortMonday, 08 February 2010Sixty eight ships laden with various commodities are expected at the Lagos Port Complex. The shipping position made available on Saturday in Lagos by the Nigeria Ports Authority (NPA) showed that the... Read More..
DCT Gdansk becomes new hub for the Baltic Sea regionMonday, 08 February 2010On January 4, 2010, DCT Gdansk received the largest container vessel ever to call Poland when the 8,200-TEU "Maersk Taikung" arrived from the Far East. From January 2010, Maersk... Read More..
'Vizag port set for a quantum leap as projects take off'Monday, 08 February 2010The Visakhapatnam port is taking up several major projects to enhance capacity and to gear up for competition from private ports in the vicinity, its Chairman, Mr Ajeya Kallam, said.
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Korea's Daewoo Shipbuilding net profit rises 44 pct in 2009Monday, 08 February 2010Daewoo Shipbuilding & Marine Engineering Co., South Korea's third-largest shipbuilder, said Monday that its earnings increased sharply last year on increased gains from equity ties with... Read More..
Pipavav Shipyard to increase headcount to 8,500 in 3 yrsMonday, 08 February 2010Gujarat-based Pipavav Shipyard today said it plans over four-fold increase in its workforce from the current 1,800 people over the next three years to sustain the company's growth momentum.
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Xstrata Full-Year Profit Declines 41% on Commodity PricesMonday, 08 February 2010Operating EBITDA of $7 billion despite unprecedented destocking in the first half and lower demand and average prices in 2009 as a result of the global downturn Rapid and comprehensive response to... Read More..
BHP Billiton Appoints New Iron Ore President Ahead Of Rio JVMonday, 08 February 2010BHP Billiton Ltd. (BHP.AU) said Monday Chris Campbell has been appointed as the new president of its iron ore business, replacing incumbent Ian Ashby who is set to run the planned iron ore joint... Read More..
BHP and Rio to boost returns, despite profit hitMonday, 08 February 2010BHP Billiton and Rio Tinto are expected to log their lowest first-half and full-year profits for four years in reports due this week, reflecting the global financial crisis.
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Commodities expected to rise on China strengthMonday, 08 February 2010Xiao Kun works in a polymer trading company and teaches Chinese in her spare time. As she explains to her students, the ‘hong bao', or a red purse filled with money, is the customary gift... Read More..
Oil holds above $71 in rebound after sharp slideMonday, 08 February 2010Oil held above $71 a barrel on Monday, supported by a weaker U.S. dollar and as some investors viewed the previous session's decline to a near two-month low as a buying opportunity.
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TNK-BP Aims to Expand Investor Base in AsiaMonday, 08 February 2010The Russo-British joint venture TNK-BP, whose anticipated share placement on the external markets in the coming years should be the largest after Rosneft three years ago, wants to expand its investor... Read More..
Euro recovers vs dollar, euro zone worries remainMonday, 08 February 2010The euro edged up against the dollar on Monday, recovering after recent losses but still close to multi-month lows on concerns about the fiscal health of some euro zone countries.
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