Category Archives: Chartering

Newcastle coal prices ease on extended Chinese buying drought

Posted on November 27, 2011 by Editor

Prices for low and higher calorific value thermal coal traded at Australia’s Newcastle trading hub fell further Friday, as buyers in China refused to be drawn into the spot market by the promise of discounted-price cargoes, said market sources. Sellers … Continue reading →

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Greece to allow armed guards on cargo ships against piracy

Posted on November 27, 2011 by Editor

Greece will let its large commercial fleet employ armed guards to ward against a surge in pirate attacks, the ministry in charge of security said on Friday, satisfying a long-standing shipowner demand. “To improve safe sailing and crew safety aboard … Continue reading →

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Economy to deteriorate, say 1,119 economists surveyed in 119 countries

Posted on November 25, 2011 by Editor

WORLD economic trends, particularly in the Europe, point to a recessionary slide in coming months, according a survey of 1,119 economic specialists from business and academic institutions in 119 countries conducted by the International Chamber of Commerce and Munich’s Institute … Continue reading →

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Maersk CEO: ‘We can outlast you’ – some say ‘war of attrition’ declared

Posted on November 25, 2011 by Editor

MAERSK is frequently accused as the aggressor in a destructive war of attrition that will stands to leave the Danish shipping giant one of the few survivors and with the lion’s share of the market, reports Alphaliner in Paris. MAERSK … Continue reading →

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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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Pirate bosses face justice

Posted on November 25, 2011 by Editor

Next week, a court in the US is due to begin hearing the case against an alleged Somali pirate leader who, if found guilty, faces spending the rest of his life in prison.Mohammad Saaili Shibin is accused of piracy and … 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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Shipping Corporation of India Takes Delivery of AHTS Vessel SCI Pawan

Posted on November 17, 2011 by Editor

Cochin Shipyard Limited​ delivered a 120T Bollard pull Anchor Handling Tug Supply Vessel (AHTS), “SCI Pawan”, bearing the Hull No. BY-77, to M/s. Shipping Corporation of India​, Mumbai (SCI). This is the first of the new series of 4 Nos … 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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