Category Archives: Dry Cargo

India’s Great Eastern to sell-off old ships to avoid maintenance costs

Posted on November 25, 2011 by Editor

MUMBAI’s Great Eastern Shipping is to sell off its older ships after the signing of a contract to dispose of it 16-year-old Jag Pratap and the dismantling of seven more to stem losses on rent. MUMBAI’s Great Eastern Shipping is … Continue reading →

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Piracy; Costs More Than Just a Ransom

Posted on November 21, 2011 by Editor

“At the moment of the attack there were 78 people onboard and 1 million barrels of crude oil. I cannot imagine what could have happened if we did not surrender to the pirates. Human lives endangered and disastrous pollution; they … Continue reading →

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India: Shipping companies hit hard by high interest rates

Posted on November 17, 2011 by Editor

Shipping companies have reported a poor second quarter on the back of a drastic fall in charter rates and high interest charges and bunker cost. While leading private players – Great Eastern Shipping Company (GE Shipping) and Mercator Lines, net … Continue reading →

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Maersk May Benefit as Overcapacity Hits Rivals

Posted on November 17, 2011 by Editor

A.P. Moeller-Maersk A/S, owner of the world’s largest container line, is prepared to outlast rivals as the industry faces four years of overcapacity. “We are actually quite well positioned for a longer stretch of tough competition,” Nils Smedegaard Andersen, chief … Continue reading →

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SCI to postpone chunk of scheduled vessel orders to 12th plan

Posted on November 17, 2011 by Editor

State-owned Shipping Corporation of India (SCI) will not order more than 6-7 vessels during the terminal year of the 11th plan period due to lean market conditions, leaving a chunk of its orders for 2012-17 period. “We have ordered 26 … Continue reading →

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Box carriers’ on-time arrival rates improve to 63pc, up from Q2

Posted on November 14, 2011 by Editor

DENMARK’s Maersk Line has been named the world’s most on-time carrier among the top carriers as 63 per cent of the world’s containerships were found to have arrived on time in the third quarter, according to Drewry Maritime Research’s latest … Continue reading →

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Work commences on building world’s largest lock on the Scheldt near Antwerp

Posted on November 14, 2011 by Editor

THE port of Antwerp has started construction of the largest lock in the world at the head of the Deurganck dock on the left bank of the River Scheldt as it leaves the Netherlands and enters Antwerp in Belgium. THE … Continue reading →

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ArcelorMittal set to exceed Liberia 2011 iron ore

Posted on November 13, 2011 by Editor

ArcelorMittal, the world’s top steel maker, is on track to produce between 1.2 million and 1.3 million tonnes of iron ore from its Liberia mine in 2011, exceeding a 1-million-tonne target, and does not expect a decline in prices to … Continue reading →

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Pakistan: Port Qasim Terminals Enhances Night Navigation Systems to Handle Large Ships

Posted on November 13, 2011 by Editor

Global marine terminal operator DP World announced that its facility at Qasim International Container Terminal (QICT), Pakistan’s gateway to the world, has expanded its capability to allow it to handle today’s modern, large vessels around the clock. New buoys, beacons … Continue reading →

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Container ship size linked to bunker price

Posted on November 12, 2011 by Editor

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 … Continue reading →

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