Downturn spells opportunities SMART bankers can make money in all kinds of conditions. For shipping-focused lender DnB NOR Bank Singapore Branch's regional director, head of Asia and general manager Erik Borgen, even amid the current industry downturn, there are always opportunities, he told The Business Times in a recent interview.
China Cosco dives 5.2% on futures losses China Cosco Holdings Co, the world's largest operator of dry-bulk ships, fell to the lowest in two weeks in Shanghai trading yesterday after saying it may lose 3.95 billion yuan (S$853 million) from wrong-way bets on freight rates.
US ports push projects for future Union dockworkers are finding there isn't enough work to go around. Big cargo ships are joining the ranks of the unemployed.
Philippine ferry death toll rises to 27
Grain shipping costs seen bottoming
Alinghi to unveil list this week
Somali pirates take it to the limit
Downhill road ahead for transport companies
Washington readies for inauguration
Hamilton set to thrill as credit woes bite
Strait Talk
Getting the priorities right I FIRST went to sea in the thick end of 40 years ago and have been a shipping journalist for nearly 20 years.
Downturn spells opportunities SMART bankers can make money in all kinds of conditions. For shipping-focused lender DnB NOR Bank Singapore Branch's regional director, head of Asia and general manager Erik Borgen, even amid the current industry downturn, there are always opportunities, he told The Business Times in a recent interview.
China Cosco dives 5.2% on futures losses China Cosco Holdings Co, the world's largest operator of dry-bulk ships, fell to the lowest in two weeks in Shanghai trading yesterday after saying it may lose 3.95 billion yuan (S$853 million) from wrong-way bets on freight rates.
US ports push projects for future Union dockworkers are finding there isn't enough work to go around. Big cargo ships are joining the ranks of the unemployed.
Philippine ferry death toll rises to 27
Grain shipping costs seen bottoming
Alinghi to unveil list this week
Somali pirates take it to the limit
Downhill road ahead for transport companies
Washington readies for inauguration
Hamilton set to thrill as credit woes bite
Strait Talk
Getting the priorities right I FIRST went to sea in the thick end of 40 years ago and have been a shipping journalist for nearly 20 years.
Global box carriers axe more of their Asia-Europe capacity MEDITERRANEAN Shipping Co withdraws capacity while CMA CGM and China Shipping axe FAL4 service.
Bucking the trend MSC expands in tough climate
Greek newbuilding orders at lowest quarterly level in eight years SHIPBROKER says only one bulk carrier ordered since September.
Half of 2010 bulker deliveries in doubt LACK of owners' finance and unrealistic promises from yards to deliver on time put newbuilding orders at risk.
IMF sees halved China growth THE IMF warned today that growth in China could be cut in half from this year to next, with serious implications for shipping sectors
Doll sees opportunity in market pinch PINCHED financial sectors have brought about huge change in the second markets, which will force both operators and investors out of business, industry analyst Fred Doll has warned at the Seatrade Middle East Maritime conference
Indian navy nabs 23 pirates THE INDIAN navy has thwarted a pirate attack on on Ethiopian-flagged vessel in the Gulf of Aden, seizing 23 of the suspects
Owners fear tanker rate collapse FEARS of a collapse in tanker rates ' just like the fall in drybulk rates ' is worrying tanker owners and operators
Death reported in ship release PIRATES have released the Greek chemical tanker Action, but there were reports today that at least one of the crew was found dead
Drybulk shares rise on market news SHARES in drybulk shipping companies listed in European markets rose this mornings after a reported sharp rise in freight rates
Three missing from sinking ship THREE Egyptian crew members are missing after a cargo ship capsized and sank in the Mediterranean Sea off the coast of Cyprus today
Carriers to share chassis responsibility Washington will require railroads and ocean lines owning chassis to share safety responsibility with motor carriers
Crowley Maritime Corp. expands Bahamas capacity
US trade aid grew 60%
Pirates seize two more ships
China loses WTO appeal
Cosco posts loss of $577M from dry-bulk derivatives
Crete Cement towed to quay The cement carrier Crete Cement that almost sank after going aground outside Fagerstrand in Oslofjorden on November 19, arrived in Holmestrand on Monday afternoon. Per R'nnevig, press spokesman for the vessels owner Kristian Gerhard Jebsens Skibsrederi, has earlier said to ...
Split ownership in Transviking The owners of the 50/50-joint venture Transviking, Norwegian Kistefos and Swedish Transatlantic, have decided to split the company. The parties will own two combined anchor handlers/ice breakers each. Transviking also has four AHTS on order in Spain ...
Japanese yard in bankruptcy TSUJI Heavy industries has filed for bankrupcy with debts exceeding USD 800 million. The company has expanded rapidly with new yard sites in China. The orderbook consists of some 40 vessels, of which 29 are 30,000-DWT bulk carriers ordered ...
DNVPS expands bunker sampling training course On-the-job training 'fill a gap' in educating ships' crew about all-important samples.
Bunkering resumes in Fos as strike ends Backlog being cleared as oil terminal workers return after strike that threatened refinery closures.
Another WFS chief to sell stock COO to trim his holdings by 15% early next year.
Hong Kong MGO prices surge on tight avails Bunker fuel prices flat across most Asian ports on Tuesday.
Lubes saving system gets orders Wartsila receives bulk order from German shipowner.
OPEC plans 'severe' cut in oil output Decision will be taken on Wednesday when the oil cartel meets in Algeria.
Taiwan, China direct links will reduce fuel costs Direct shipping links between the two countries begin this week.
Sri Lanka suppliers in alliance to cut costs Areas of cooperation include importing fuel oil cargoes and sharing a bunker tanker.
Fishermen strike against high diesel price Nation-wide strike across 11 Malaysian states held to demand further reduction in the price of subsidised diesel
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