Focus shifts away from newbuilds THE focus of the offshore and marine industry seems to be turning towards the service and support side of the business now that the credit crunch's effect on newbuildings is finally taking its toll.
Where is Asia's ship finance market heading? REACHING year end, one is tempted to look back as well as forward. The global financial crisis is taking its toll on the world economy, impacting heavily on shipping. How will financing patterns in shipping change in response to the crisis?
Order restored in Baltic indices' values, sectors An important point in the Baltic indices was reached on Monday as order was restored in the comparative values of the different sectors. For the first time since Sept 26, the capesize TC average was the most valued followed by consecutively decreasing rates for each vessel size in the correct order. This was mainly due to a fall in supramax rates and an increase in the panamax TC average. Though panamax and supramax are still only separated by a mere US$48, the fact that the sizes are all in value and size order, does offer some relief that the fundamentals of the dry bulk sector are recovering.
China may build aircraft carrier to protect territory
DryShips may cancel pact to buy nine ships: Lloyd's List
Crisis-hit US states halt road projects
Toyota vows to stay in F1 but will cut costs
Non-US carmakers also downshifting
Strait Talk
The untapped economic potential of Africa SEEING pictures of the Chinese crew of the cargo Zhenhua 4 successfully fighting off pirates, who were armed with automatic weapons and RPGs, with empty beer bottle aroused mixed emotions for me.
Focus shifts away from newbuilds THE focus of the offshore and marine industry seems to be turning towards the service and support side of the business now that the credit crunch's effect on newbuildings is finally taking its toll.
Where is Asia's ship finance market heading? REACHING year end, one is tempted to look back as well as forward. The global financial crisis is taking its toll on the world economy, impacting heavily on shipping. How will financing patterns in shipping change in response to the crisis?
Order restored in Baltic indices' values, sectors An important point in the Baltic indices was reached on Monday as order was restored in the comparative values of the different sectors. For the first time since Sept 26, the capesize TC average was the most valued followed by consecutively decreasing rates for each vessel size in the correct order. This was mainly due to a fall in supramax rates and an increase in the panamax TC average. Though panamax and supramax are still only separated by a mere US$48, the fact that the sizes are all in value and size order, does offer some relief that the fundamentals of the dry bulk sector are recovering.
China may build aircraft carrier to protect territory
DryShips may cancel pact to buy nine ships: Lloyd's List
Crisis-hit US states halt road projects
Toyota vows to stay in F1 but will cut costs
Non-US carmakers also downshifting
Strait Talk
The untapped economic potential of Africa SEEING pictures of the Chinese crew of the cargo Zhenhua 4 successfully fighting off pirates, who were armed with automatic weapons and RPGs, with empty beer bottle aroused mixed emotions for me.
Brussels 'postpones' start of 24-hour container regulations PLAN to launch US-style rules delayed to ensure uniformity across European Union member states.
EU cargo security rules may miss 2009 deadline
Skuld latest marine mutual victim of credit crisis OSLO club reveals a $90m investment loss over the first nine months.
SHI seeks to cap Hebei spill liability SAMSUNG Heavy Industries applies to court to limit its liability for oil spill at $38m.
Thailand exports contract 18.6% THAILAND'S port sector is contracting, in line with shipping declines across Asia, a senior aide at the Thai Shipowners' Association confirmed today to Fairplay
Cyclone Billy blows back OFFSHORE rigs were evacuated and oilfields shut as Cyclone Billy again raged today along the Western Australian coast
Faina kin attack US group FAMILIES of the ro-ro Faina's crew have urged the US government to prevent Michele Lynn Ballarin, who runs the Virginia company Select Armor, from talking with pirates holding the seafarers
Star triggers 'termination' clause STAR CRUISES has enacted the 'NCL America wind-up' clause of its 2007 deal to split Norwegian Cruise Line with private equity firm Apollo
Russia, Serbia close pipeline deal BELGRADE has pushed Russian oil and gas giant Gazprom into improving its terms for taking over of Serbian government-run oil concern NIS, with a contract due to be signed by the presidents of both countries in Moscow on Wednesday
Vale's $1.6Bn deal is $80M real BRAZILIAN mining and transport giant Vale is sending its first instalment of $80M to the Chinese yard Jiangu Rongsheng HI for a dozen bulk carriers, two JR executives told Bloomberg today
It's a 'no' for Port Alma QUEENSLAND'S Port Alma was deemed unsuitable today as an LNG site
Charleston seeks to keep Maersk Line State officials, Maersk, ILWU meet to work out a way to keep biggest box customer from leaving Port of Charleston.
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