Copenhagen: At its annual general meeting yesterday, Norden revealed a change of direction for its investment plans. After doubling its owned tanker fleet, the company is now looking to revitalise its dry bulk tonnage.
Singapore: Numbers do not lie and a quick look at some statistics from the dry bulk market for the period 1985-1987 and 2010-2012 tell a story of an acute oversupply problem which shipping players should listen to and understand, said Precious...
Hong Kong: Dry bulk shipowner Pacific Basin Shipping has secured $85.2m 12-year post-delivery export credit financing for four Japanese-built bulkers.
Singapore: John Fredriksen is continuing his newbuilding binge with Singapore-listed Golden Ocean Group ordering two newbuilding 60,000 dwt supramaxes from Japan Marine United Corporation (JMU).
Taipei: U-Ming Marine Transport Corp saw its 2012 net profit slump even as revenue edged up.
Hong Kong: Chinese demand for logs is benefitting shipping companies with the right kind of vessels to take advantage of the demand, according to a news wire report. The demand is being driven by a combination of Chinese demand for homes, New...
Shanghai: China Shipping Development Co (CSDC) narrowly managed to stay profitable in 2012 but is looking to delay taking deliveries of some new vessels in view of the oversupplied shipping market.
Oslo: John Fredriksen’s Frontline 2012 scraped its way to a $0.7m profit in the fourth quarter, bringing its full year profit to $8.1m, as it nearly doubles its newbuilding programme.