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Demolition prices could fall, on lower steel prices

Top Story - Fri, 11/11/2011 - 00:00

Ship owners could soon have to rush to scrapyards across the Indian subcontinent or other countries, in order to achieve better prices for the sale of their older vessels for scrap. In what could trigger more sales of ships for demolition and in that way,

Tanker-Contract Pricing May Shift From Half-Century-Old System

Top Story - Fri, 11/11/2011 - 00:00

Traders and investors who bet on the cost of shipping oil may decide next week to move pricing of derivatives away from a method dating back half a century in an effort to spur use of the contracts.About 50 users of the tanker derivatives will meet

Container ship size linked to bunker price

Top Story - Fri, 11/11/2011 - 00:00

Container ship operators are ordering ever larger vessels even in the face of a weak freight and time charter environment during 2011, says Braemar Seascope. This may appear to be counter-intuitive. In fact, it reinforces a trend that is at least five years old.

Navios Maritime Acquisition Corporation Reports Financial Results for the Third Quarter and Nine Months ended September 30, 2011

Top Story - Thu, 10/11/2011 - 15:15

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results for the third quarter and nine months ended

Dry bulk market regains some of the lost ground

Top Story - Thu, 10/11/2011 - 00:00

The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which have seen the market’s benchmark, the Baltic Dry Index (BDI) reaching a seven-week low.

Aegean Marine Petroleum Network Inc. Announces Third Quarter 2011 Financial Results

Top Story - Thu, 10/11/2011 - 00:00

Aegean Marine Petroleum Network Inc. yesterday announced financial and operating results for the third quarter ended September 30, 2011.The Company recorded net income for the three months ended September 30, 2011 of $5.3 million,

Euroseas Ltd. Reports Results for the Nine-Month Period and Quarter Ended September 30, 2011 and Declares Quarterly Dividend

Top Story - Thu, 10/11/2011 - 00:00

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced yesterday its results for the three and nine month periods ended September 30, 2011.

Newbuilding deliveries peaked last year, oversupply to start easing next year says forecaster

Top Story - Wed, 09/11/2011 - 00:00

Tonnage oversupply issues has been the biggest problem hindering freight rates across most shipping markets since last year. Despite record breaking scrapping of older vessels, things haven’t improved much. Still, in its latest weekly report,

Cargo to U.S. Drops for First Time Since End of 2009

Top Story - Wed, 09/11/2011 - 00:00

U.S. imports on the world’s biggest trading route are dropping for the first time in almost two years as consumer confidence weakens to the lowest level since the recession that ended in 2009.Container volumes on the Asia-to-U.S. route fell 3.8 percent

Paragon Shipping Inc. Announces New Charter Agreements for Two of Its Panamax Bulkcarriers

Top Story - Wed, 09/11/2011 - 00:00

Paragon Shipping Inc., a global shipping transportation company specializing in drybulk cargoes, announced yesterday that it has entered into fixed rate time charter agreements for two of its Panamax Vessels, M/V Kind Seas, and M/V Golden Seas with

Pressures mounting on dry bulk market

Top Story - Tue, 08/11/2011 - 00:00

The latest rally of the dry bulk market proved to be shortlived as analysts had indicated. The industry’s benchmark has been on a free fall once more for the past couple of weeks, swiftly erasing the gains of the past couple of months, which saw the market

Danaos Corporation Reports Third Quarter and Nine Months Results for the Period Ended September 30, 2011

Top Story - Tue, 08/11/2011 - 00:00

Danaos Corporation, a leading international owner of containerships, yesterday reported unaudited results for the period ended September 30, 2011.Danaos' CEO Dr. John Coustas commented: This quarter we experienced one of the most sudden

DryShips Inc. Reports Financial and Operating Results for the Third Quarter 2011

Top Story - Tue, 08/11/2011 - 00:00

DryShips Inc. or the Company, a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore deepwater drilling services, yesterday announced

Scrapping of older vessels to intensify in coming months, says Braemar Seascope

Top Story - Mon, 07/11/2011 - 00:00

So far this year, demolition of older vessels has been feverish, in an attempt by ship owners to help alleviate the tonnage oversupply pressures that the global shipping market has been dealing with, in almost every shipping trade, from dry bulk to tanker.

Feature: Ships and the waste-resource interface

Top Story - Mon, 07/11/2011 - 00:00

While a clear-cut decision on which laws should apply to ships bound for the breaker’s yard failed to materialise last month, the tide appears to be turning against the backers of a regime that would snarl shipbreaking in red tape.A meeting in Cartagena,

Getting The Measure Of Demand

Top Story - Mon, 07/11/2011 - 00:00

Containership timecharter rates generally respond strongly to movements in the balance of global containership supply and demand. However, with perfect trade volume data lacking, containership demand is notoriously hard to measure accurately.

Artic route could take years if not decades until it becomes a major tanker trade

Top Story - Sat, 05/11/2011 - 00:00

With more and more vessels sailing through the so called Arctic route, it’s worth to take a look in what this could mean for the tanker markets. According to a recent report from London-based shipbroker Gibson, back in 2009, the shipping industry industry

Greeks turn out in force for North P&I Club’s seminar on cargo liquefaction

Top Story - Sat, 05/11/2011 - 00:00

Around 120 members of the Greek shipping community attended a seminar on cargo liquefaction this week (1 November 2011) hosted by the Piraeus office of the 150 million GT ‘A’ rated North P&I club.According to associate director and head of the Greek

New Container Ships Fall 31% in Value as Rents, Economies Cool

Top Story - Sat, 05/11/2011 - 00:00

New container ships’ value dropped as much as 31 percent since April because of falling hire costs and cooling economies, according to Seasure Shipping Ltd.Post-panamax vessels that are too large to navigate the Panama Canal are worth $73.2 million,

Medium range tankers surviving the downturn so far in the year

Top Story - Fri, 04/11/2011 - 00:00

With the vast majority of tanker markets in the red, it’s difficult to discern a silver lighting. One of those is the medium-range product tanker market, with MRs hanging in there. According to a recent report from CR Weber, “since the start of 2011, tanker time charter