Owner of Fleet Management mulls expansion

Harry Banga, genial vice-chairman emeritus of Hong Kong-headquartered resources and commodities group Noble, is considering expanding Fleet Management, the ship management firm he bought for US$75 million from Noble last week.

Tuesday, 5 April, 2011, 12:00am

Argentine ship seized over fuel bills

Chimbusco Pan Nation Petro-Chemical, an offshoot of PetroChina, has had a 64,200 deadweight tonne cargo ship arrested in Hong Kong. Owned by Maruba, Argentina's largest privately owned shipping company, the panamax ship Decurion was held over unpaid fuel bills running into millions of US dollars.

31 Aug 2010 - 12:00am

New ships seen forcing mergers

Imminent delivery of the many post-panamax container vessels now on order will cut returns and lead to consolidation of the industry, an economist says.

Lloyd's shipping economist Paul Gardiner said newbuildings due for delivery by the end of 2001 would boost the present fleet of 96 post-panamax vessels by 70 to a total of 166.

6 Dec 1999 - 12:00am

London calling

The London, a 3,177-teu (20-ft equivalent unit) ship owned by China Shipping Group, is one of the largest container vessels to call at Jakarta International Container Terminal (JICT).

22 Nov 1999 - 12:00am

Markets look for recovery

More buyers are out looking for bargains in the bulk-shipping market, a report from London says.

The Clarkson Shipping Intelligence Weekly report said its Clarkson bulk-carrier price index had risen 4 per cent over the past few weeks, with the price of some Panamaxes rising as much as 15 per cent.

31 Mar 1999 - 12:00am

Jinhui unit scales down deal

Jinhui Holdings' 50.9 per cent owned subsidiary has amended a vessel deal reducing the purchase price by 23 per cent. Under the new agreement, they will now buy a Handymax size vessel, instead of a Panamax size vessel.

17 Dec 1998 - 12:00am

Ship deal for Orient Overseas

Orient Overseas (International) has entered into a contract with China Shipping Corp for the construction of two 5,500 twenty-foot equivalent units post-Panamax container vessels. The consideration for the two vessels is about US$120 million.

3 Sep 1998 - 12:00am

World-Wide orders tankers

World-Wide Shipping has signed contracts with Japanese shipbuilders in Tokyo to build a very large crude carrier (VLCC) and a Panamax bulk carrier at two separate shipyards.

12 Dec 1997 - 12:00am

Demand strong for Panamax vessels

The demand for Panamax newbuildings remains strong despite a turbulent second quarter which reduced rates by US$3 per deadweight tonne (dwt) on the US Gulf-Japan grain run, according to a research report.

13 Aug 1997 - 12:00am

Panamaxes for Global Ocean

Global Ocean Carriers, the Greek shipping company, has taken delivery of two Panamax bulk carriers and two feeder container vessels costing US$55.4 million.

The company now has a fleet of seven feeder container vessels, three Panamax vessels, one bulk carrier and a tanker.

11 Aug 1997 - 12:00am

Cost controls lift Evergreen

Evergreen Marine Corp (Taiwan) has announced a 1.57 per cent rise in 1996 net profit to NT$3.22 billion (about HK$895 million), compared with $3.17 billion in 1995.

23 May 1997 - 12:00am

Tacoma gets cranes built in Shanghai

The port of Tacoma has received its third post-Panamax container crane, built at a cost of US$5.63 million in Shanghai.

The Zenhua 3 sailed into Commencement Bay on June 9 with the port's newest container crane towering 79.34 metres above the ship's deck.

28 Jun 1996 - 12:00am

Chellaram to expand fleet

THE Kishinchand Chellaram group is close to finalising orders for two more bulk carriers.

'We are in negotiations with yards in China, South Korea and Japan to build two Handymax or Panamax vessels,' managing director Sham Chellaram said.

15 Sep 1995 - 12:00am

Shipbuilding orders fall

JAPANESE shipyards received permits to build 34 ships for export and two vessels for the domestic market, totalling 810,000 gross tonnes in May.

The contracted value of the vessels totalled 99.79 billion yen (about HK$908 million).

21 Jun 1995 - 12:00am

320 ships scrapped last year

A TOTAL of 320 vessels aggregating over 20 million tonnes was scrapped last year, according to London shipbrokers, E A Gibson.

About 16 million tonnes of this included tankers and combis, with dry cargo tonnage making up the balance.

3 Feb 1995 - 12:00am