Industry cancels orders worth Rs 3,750 crore for new ship
NEW DELHI: India’s shipbuilding industry may suffer cancellations of about 15% of their total orders, worth at least Rs 3,750 crore, as a slump
in international trade in the wake of the global economic crisis has taken a toll on the sector, industry experts say. Orders for about 35 ships that were to be built [...]
India: Dry bulk cargo shipowners lay up vessels, sell older ships
capesize-bulk-carrier
Bangalore: Indian shipping firms engaged in carrying dry bulk cargo such as coal or steel have started laying up vessels and even selling older ones as freight rates plunge to record lows amid the global economic downturn and credit crunch. A lay-up happens when a ship is withdrawn from trading operations.
“The market for dry bulk [...]
Once upon a time… there were new buildings
shipbuilding2
Long gone are the days when Greek ship owners were placing up to 10 new building orders for vessels every week, bringing the total orderbook of the leading maritime nation to over 1,100 ships. According to the latest reports the last couple of months (October and November) no new orders have been placed. The Baltic [...]
