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  • October 24, 2014
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  1. Business - Companies - SHIPPING

    Rongsheng Heavy Industries mulls restructuring to improve finances

    Posted Oct 01st 2014, 04:18am by JING YANG

    ... by the company. Rongsheng has been struggling over the last two years as the shipping industry slumped due to sharp falls in freight rates and a glut in vessels. Rongsheng also had a record of frequently ...

  2. Business - Economy - SHIPPING

    Asian bulk capesize rates seen falling as ships exceed new cargo volumes

    Posted Jul 11th 2014, 01:31am by Reuters

    ... bulk capesize rates Rates for capesize bulk carriers on key Asian routes will continue to fall next week as the number of ships available for charter outpaces the volume of new cargoes, brokers ... estimated there would be around 90 capesize vessels available for charter by the end of this week. "There will be a gradual slide in rates. The market will continue to soften, although owners ...

  3. Business - China Business - SHIPPING

    Shipbuilder Rongsheng sinks deeper in losses

    Posted Aug 29th 2014, 11:44am by JING YANG

    ... units. CSCL, a subsidiary of state-owned China Shipping (Group), said in a statement that the shipping industry is still facing uncertainties as oversupply continues to squeeze freight rates ...

  4. Business - Companies - SHIPPING

    OOIL earnings tipped lower on oversupply, freight rates fall

    Posted Mar 08th 2014, 01:40am by Charlotte So

    ... Charlotte So charlotte.so@scmp.com OOIL earnings may take hit on oversupply, rates fall Orient Overseas International Limited (OOIL), one of the world's largest integrated container shipping companies, may dip into the red when it announces full-year results on Monday, due to oversupply in the sector and a slump in freight rates. Although analysts polled by Bloomberg forecast ...

  5. Business - Economy - SHIPPING

    Shipping industry moves into digital age with automated booking

    Posted Jun 21st 2014, 12:53am by BLOOM

    ... companies and jurisdictions with their own rules and procedures. Shippers prefer to keep privately negotiated rates secret, unlike airlines that publish fares. But Maersk now takes about 87 per cent ... the cargo, origin and destination, push a button, and see all the available rates and schedules according to their contract, he said. They can also book directly through the software. ...

  6. Business - Companies - SHIPPING

    Increased freight rates start year on high note for container shipping lines

    Posted Jan 07th 2014, 11:14am by Charlotte So

    ... Charlotte So charlotte.so@scmp.com Rise in freight rates lifts carriers' hopes Container shipping firms are hoping for a better year as freight rates rebound in the lead-up ... last year, a forecast by 11 institutes and research houses said. Shipping lines were quite successful in raising their rates as planned last month and at the beginning of this month ...

  7. Business - China Business - SHIPPING

    China demand for logs boosts rates

    Posted Sep 18th 2013, 12:00am by BLOOM

    ... Bloomberg in London Mainland demand for logs boosts rates Shipments of logs are growing as the mainland builds the most property in at least a decade, adding to record commodity cargoes ... Resources International estimates. Analysts expect daily rates for 550-foot-long Handysize vessels will climb 29 per cent to US$9,750 next year. The mainland uses most of the wood in construction, ...

  8. Business - Companies - SHIPPING

    Chairwoman Sabrina Chao steers Wah Kwong Maritime past rocky shoals

    Posted Mar 07th 2014, 11:48am by Charlotte So

    ... Charlotte So charlotte.so@scmp.com Wah Kwong Maritime chairwoman Sabrina Chao enjoyed a profitable 2013, despite volatile shipping rates which hit many of her rivals Steering a course ... wildly last year, ranging from a low of 735 points to a high of 2,337 points towards the end of the year. The company ordered 12 dry bulk vessels and, when freight rates recovered late ...

  9. Business - Companies - SHIPPING

    Shipping industry set to emerge from five-year downturn

    Posted Feb 08th 2014, 05:12am by Reuters

    ... to emerge from its longest downturn in three decades, buoyed by an end to years of overcapacity that have depressed freight rates since the end of a shipping boom in 2008. Dry cargo ships are likely ... rates will also rise as fleet growth is slowing, while strategic oil reserve projects in China and India should boost already solid Asian demand. The recovery will bring some respite to shipping ...

  10. Business - Commodities - SHIPPING

    Pacific Basin sees brighter prospects in second half of 2014

    Posted Mar 06th 2014, 10:36am by Charlotte So

    ... and cement, and agricultural goods, such as grains and oilseeds. Given steady growth rates even in a slowing economy, the pace of those agricultural and construction imports is not expected to slow ... The company said it had already covered 5 per cent of all contracted handysize revenue days this year at a rate of US$10,090, up 6 per cent from last year's average. ...




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