Bulk Carrier

Chellaram fleet to expand despite dry bulk worries

Chellaram Shipping, one of Hong Kong's largest independent shipowners, is looking to further expand its fleet of dry cargo ships despite concerns about the challenges facing the dry bulk sector.

Tuesday, 10 April, 2012, 12:00am

Courage Marine bearish on market

The dry bulk cargo market, which has seen charter rates dive by up to 58 per cent in the past year, is unlikely to recover until next year, the head of dry bulk shipping company Courage Marine said.

10 Dec 2011 - 12:00am

China seen as key for iron ore, shipping firms

China will remain the world's key iron ore market for mining companies and the global dry bulk shipping industry, despite concerns about the future of the country's infrastructure boom and an easing of foreign direct investment, shipping experts say.

14 Nov 2011 - 12:00am

Speculation blamed for woes

Global shipping markets have become a 'speculators' heaven' feeding a frenzy of new ship orders and explosive shipbuilding capacity which has put the international maritime industry in crisis, the outgoing chairman of the Hong Kong Shipowners Association has warned.

11 Nov 2011 - 12:00am

KC Maritime intensifies dry cargo focus

Hong Kong shipowner KC Maritime has strengthened its focus on the dry cargo market after taking delivery of the first of five large Panamax bulk carriers under an order worth about US$200 million placed with a South Korean shipyard.

4 Nov 2011 - 12:00am

Supply glut is a bigger risk than carriers

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.

4 Oct 2011 - 12:00am

Mainland shipyards on course to consolidate

Mainland shipyards are set to consolidate as declining orders coupled with tighter credit controls make it harder for smaller shipyards to compete with their larger rivals.

3 Oct 2011 - 12:00am

Sinotrans defies trend to post US$55m profit

Sinotrans Shipping's share price rose 5.2 per cent yesterday after it reported a better-than-expected net profit of US$55.22 million for the first six months of the year.

The counter closed at HK$1.82, buoyed by a US$58.48 million result that was down just 5.6 per cent from a year earlier though analysts had forecast a lower outcome of US$48 million to US$52 million.

27 Aug 2011 - 12:00am

China Rongsheng targets 6-month orders of US$1b

China Rongsheng Heavy Industries will focus on winning more new ship orders from mainland shipowners in the second half of this year to offset a possible drop in orders from the West.

25 Aug 2011 - 12:00am

Price war looms for shipyards on the mainland

Chinese shipyards could find it more difficult to compete against South Korea and Japanese on price alone if the yuan continues to appreciate against the US dollar, according to a leading ship financier.

18 Apr 2011 - 12:00am

Asian shipyards face overcapacity threat

Huge numbers of shipyard workers could be laid off by Asia's shipbuilders if yards, including facilities on the mainland, are unable to tackle rising overcapacity, warns the Baltic and International Maritime Council.

28 Dec 2010 - 12:00am

Shipping boom and bust could happen again

The shipping industry should take a broad, systemic approach to regulation and issues affecting the sector, says the head of one of the world's oldest ship safety organisations.

Richard Sadler, chief executive of the 250-year-old classification society Lloyd's Register, said China should also become more active in international forums that shape global shipping regulations.

13 Nov 2010 - 12:00am

Sinotrans Shipping aims to double fleet despite market fears

Sinotrans Shipping has reaffirmed its commitment to double the size of its fleet, with plans for new and second-hand vessel acquisitions despite short-term concerns about the outlook for the dry bulk cargo market.

11 Aug 2010 - 12:00am

Dry-bulk carrier sees strong revenue growth

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 announced revenues of US$616.5 million for the six months ending on June 30, up from US$425.9 million in the same period last year.

9 Aug 2010 - 12:00am

Shipping gloom to lift, Pacific Basin says

Shipping firms have had a roller-coaster seven years as they saw charter and freight rates surge to record highs on the back of the mainland's rapid growth before plunging almost to zero as the worldwide financial crisis haemorrhaged global trade.

9 Aug 2010 - 12:00am