First new building orders from Hellenic shipping interests arrive: A sign of improved optimism?Friday, 03 July 2009After more than eight months of virtually no new building activity, latest reports from local ship brokers indicate that the first order from a Hellenic shipping company for an ocean-going vessel has been reportedly submitted. According to the latest newbuilding report by G.Moundreas & Co.,... Read More
China Iron Ore Demand to Boost Shipping, Morgan Stanley SaysFriday, 03 July 2009Chinese iron ore usage will boost demand for shipping as imports of the steelmaking raw material will remain cheaper than domestic output, Morgan Stanley said.
“We believe Chinese iron ore demand will put incremental pressure on the seaborne market,
Read More
OPEC Secretary General: “We didn’t Want to Rock the Boat” Friday, 03 July 2009OPEC is optimistic that the production policies its Member Countries signed up to in September 2008 to counteract the effects of the global financial crisis will continue to fuel a positive reaction in the international oil market.
OPEC has been working with impressive results to remove a total of... Read More
Baltic Dry Index: Hype over China leading recoveryFriday, 03 July 2009The Baltic Dry Index, which measures the freight rates for dry cargo traveling by ship, hit an all time high of 11,793 on May 5, 2008. Then it plunged to 663 on December 5, a decline of 94.4... Read More..
Maersk Tankers sees pick-up in M&AFriday, 03 July 2009Maersk Tankers, the largest product tanker group, expects merger and acquisition activity to pick up at the expense of commercial pools, allowing shippers to cut costs and boost vessel usage, the... Read More..
Bender Shipbuilding now in Chapter 11 bankruptcyFriday, 03 July 2009The U.S. Bankruptcy Court for the Southern District of Alabama yesterday granted a motion by Bender Shipbuilding and Repair to convert the involuntary Chapter 7 bankruptcy filing initiated by three... Read More..
Grindrod: Low shipping volumes to sink profitFriday, 03 July 2009Africa's biggest shipping firm, Grindrod, expects to report a decline of up to 60 percent in first-half headline earnings a share as the global economic slowdown hit shipping volumes and rates.
Read More..
Shipments Index Grows for Second Straight MonthFriday, 03 July 2009The Cass Freight Index of domestic U.S. shipping fell 20 percent in June compared to the last year, but the closely-watched measure also showed signs of expansion with the second straight advance in... Read More..
S.Korean shipyards to share Petrobras deals-STXFriday, 03 July 2009Shipbuilding and shipping conglomerate STX on Thursday said it expected top South Korean shipyards to jointly win offshore project orders from Brazil's Petrobras, a major opportunity for the... Read More..
EPA Proposes Vessel Emission StandardsFriday, 03 July 2009The Environmental Protection Agency announced tough new air emission standards that will affect ocean vessels.
The new standard will align the U.S. with Annex VI of the International Maritime... Read More..
Trade distortions hit wealthy states hardest-WTOFriday, 03 July 2009Governments are unfairly blocking trade in response to the global downturn, pinching auto and steel exports and hurting wealthy economies most, the head of the World Trade Organisation said on... Read More..
China's Lianyungang to build an international portFriday, 03 July 2009Lianyungang, a northern port city in Jiangsu province, is racing to build an international port after winning State approval to construct a 300,000-dwt (deadweight ton) deepwater channel.
Read More..
Asian LNG Spot Trade May Shrink 73% This Year, Repsol Says Friday, 03 July 2009Shipments of liquefied natural gas to Asia from the Atlantic Ocean area may shrink by about 73 percent this year as Japan and South Korea, the world's biggest buyers, cut imports, said an official... Read More..
Beijing buckles in iron ore price battle Friday, 03 July 2009Australia's iron ore miners have won their long-running battle with China's government-owned steel producers after the China Iron & Steel Association backed down from its tough position on price... Read More..
Baosteel seen raising Aug prices as market improvesFriday, 03 July 2009China's Baosteel is expected to raise August prices for key steel products by about 5 percent versus the July tags, trade sources close to the company said on Thursday,
Read More..
India: Steel companies may hike prices by 5% in JulyFriday, 03 July 2009Steel prices could go up by 2-5% in July, with large steel producers such as SAIL, Ispat and Jindal Steel contemplating price hikes. Prices are likely to go up in the range of Rs 500-1,000 per tonne... Read More..
China aims to settle iron ore price this monthFriday, 03 July 2009Chinese steelmakers, the world's biggest, aim to conclude annual contract iron ore talks by the end of this month and may consider trimming their price cut demands, a company executive said.
Read More..
Rss
Online - Contact
