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  • October 22, 2014
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  1. Business - Companies - MERGER

    Billionaire Fredriksen merges bulk carriers to catch shipping recovery

    Posted Oct 09th 2014, 05:43am by Bloomberg

    ... Bloomberg in Oslo Golden Ocean and Knightsbridge combine to preparefor industry upturn Dry bulk merger readies for recovery John Fredriksen will merge the two dry bulk shippers he ... will, with affiliates, control about 39 per cent of the combined company. "With the current weakness in the dry bulk market, we believe there will be attractive consolidation opportunities ...

  2. Speculation blamed for woes

    Posted Nov 11th 2011, 12:00am

    ... dry-bulk carriers, tankers and container ships delivered by 2015. Koo, who is also chairman and chief executive of Hong Kong-headquartered tanker and dry-bulk cargo owner Tai Chong Cheang ... called for a halt in new ship orders. The entry of new ships into the global fleet have led charter rates to crash as the increase in tonnage outpaces growth in cargo volumes. For the dry bulk ...

  3. Chellaram fleet to expand despite dry bulk worries

    Posted Apr 10th 2012, 12:00am

    ... by a huge volume of new vessel deliveries outpacing growth in cargo demand. Clarkson estimated dry bulk carriers totalling 200 million dwt, equivalent to 32 per cent of the existing dry bulk fleet, ... about the challenges facing the dry bulk sector. The company, controlled by founder Lal Chellaram, has recently taken delivery of two large dry cargo ships and a third will join the fleet ...

  4. Dry-bulk carrier sees strong revenue growth

    Posted Aug 09th 2010, 12:00am by Staff Reporter

    ... The growing commodities trade and improving economic climate have helped leading dry-bulk carrier Pacific Basin Shipping post strong revenues for the first half of the year. Pacific Basin ... that time the firm has purchased nine dry-bulk vessels and chartered (on a long-term basis) another five. According to Pacific Basin, handysize and handymax bulk carriers enjoyed a much improved ...

  5. Sinotrans Shipping aims to double fleet despite market fears

    Posted Aug 11th 2010, 12:00am by Keith Wallis

    ... [of new and second-hand] vessels are more reasonable than before.' Shipbrokers said the price for a new, 76,000 deadweight tonne bulk carrier, which forms the backbone of Sinotrans' ... with dry bulk contributing US$124.1 million. Revenue from the firm's single tanker, a 310,444 dwt very large crude carrier, surged to US$8.6 million from US$5.1 million, following better ...

  6. Shipping gloom to lift, Pacific Basin says

    Posted Aug 09th 2010, 12:00am by Keith Wallis

    ... large dry bulk carriers totalling 125 million deadweight tonnes are to be delivered between now and 2013. This compared with an existing fleet of 1,064 ships of 190.5 million deadweight tonnes. ... joining the global fleet. Explaining the current conditions, Klaus Nyborg, chief executive of Pacific Basin Shipping, said the gloomy dry bulk freight rates would rebound in the fourth quarter. ...

  7. Business - Companies - SHIPPING

    Dry-bulk carriers ride new trend in energy industry

    Posted Aug 05th 2013, 12:00am by Anita Lam

    ... Anita Lam anita.lam@scmp.com Replacement of coal with wood pellets as new power source could double volume of sea trade Dry-bulk carriers ride new trend in energy industry The era ... common bulk carriers and include Supramax (50,000- to 60,000-deadweight-tonne), Handymax (40,000 to 50,000 dwt) and Handy (40,000 dwt) vessels. Wood pellets for use in biomass-fuelled power ...

  8. Courage Marine bearish on market

    Posted Dec 10th 2011, 12:00am

    ... to slow in 2013, he said. British shipbroker Clarkson said there were 2,557 dry cargo bulk carriers totalling 212.7 dwt currently on order, equivalent to 35.2 per cent of the existing fleet of 8,818 bulk carriers totalling 604.8 million dwt. Dry cargo ships totalling 120.2 million dwt are due for delivery next year, with 60.9 million dwt forecast for delivery in 2013 and beyond. ...

  9. Supply glut is a bigger risk than carriers

    Posted Oct 04th 2011, 12:00am

    ... Keith Wallis keith.wallis@scmp.com Worries among mainland shipowners that a raft of giant iron ore carriers entering service over the next three years would hurt the dry bulk shipping market are not as great as the threat of overcapacity, shipowners said. They said the 400,000 deadweight tonne (dwt) bulk carriers ordered by Brazilian iron ore giant Vale would create ...

  10. KC Maritime intensifies dry cargo focus

    Posted Nov 04th 2011, 12:00am

    ... Panamax bulk carriers under an order worth about US$200 million placed with a South Korean shipyard. The ship, the 82,000 deadweight tonne (dwt) Darya Ma, has already left the shipyard on its ... the shipowner's existing fleet of three Panamax bulk carriers and three cement carriers. With Panamax vessels ranging in size between 76,000 dwt and 93,000 dwt, the 82,000 dwt size was chosen for its ...




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