Global ordering activity has fallen to 26-year low in January 2017, shipbuilding data from Maritime & Trade by IHS Markit show. Specifically, demand for bulk carriers and gas carriers has plummeted as there were no booked orders in January. The appetite of shipowners for tankers over 10,000 dwt has
Amid a huge gap between supply and demand in the container shipping industry, carriers seem to be reluctant to fully seize the opportunity to narrow the difference, according to shipping consultacy Drewry. Namely, the shipping companies are not expected to take the advantage and delay gratification
As containership deliveries dropped from the record 1.7 million TEU in 2015 to just 0.9 million TEU in 2016, the boxship sector could enter a new era of less robust fleet growth if deliveries remain at moderate levels, Clarksons Research said. The slowdown in boxship deliveries in 2016, alongside re
Iraq has set sights on creating a large fleet of modern oil tankers to transport the country’s crude, Reuters reports quoting a statement from the country’s Oil Minister. “The ministry wants to restructure the company’s mission to develop its operations by building and buying a large fleet of tanker
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Crude oil tanker deliveries reached a record high in January as 5.5 million dwt of the capacity entered the fleet so far this year, representing an increase of 220% from January 2016, BIMCO said citing preliminary data from VesselsValue. The month already accounts for 22% of the previous year’s tota
Despite a massive scrapping spree of classic Panamax containerships, the sector remains under pressure as up to one hundred further Panamaxes will need to be scrapped before the segment can regain its footing again, according to Alphaliner. A total of 130 Panamax units of 4,000 – 5,100 TEU were remo
The large number of very large container ships (VLCS) and ultra large container ships (ULCS) due to be delivered in 2017 is projected to be twice as high as 0.75 million TEU containership scrapping forecast for the year, according to Alphaliner. The overall delivery figure for the year stands at 1.6
The previous year was very weak for newbuild ordering as contracting activity fell to its lowest level in over 30 years in numerical and tonnage terms, according to Clarkson Research. Low levels of newbuild demand have continued to limit ordering across the majority of vessel sectors, and the majori
International banking group Standard Chartered has completed three shipping finance deals for clients in Asia and the Middle East valued in excess of USD 1.6 billion. In December 2016, Standard Chartered concluded a USD 684.5 million, up to 12-year non-recourse shipping finance facility for BW Gas J
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South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) and Industrial Development and Renovation Organization of Iran (IDRO) have agreed a mutual cooperation related to the Iranian shipbuilding industry. The parties signed a Head of Agreement (HoA), under which they plan to estab
