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
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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 A lay-up happens when a ship is withdrawn from trading operations.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 [...]
Tanker outlook: Owners unlikely to walk away from newbuild contracts
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New York: Most of the tankers currently on order will be built and delivered, according to New York broker Poten & Partners. This is in marked contrast to the dry bulk market where analysts believe large numbers of bulk carriers will be seriously delayed or cancelled. However, tanker owners and investors are anxiously awaiting a [...]
Once upon a time… there were new buildings
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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 [...]
IMO chief makes direct appeal to Security Council for Somalia piracy action
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IMO Secretary-General Efthimios E. Mitropoulos has issued a call at the highest level for a coordinated and cohesive response, both internationally and nationally, to combat the scourge of piracy off the coast of Somalia.
Yesterday (20 November), in a personal briefing to the UN Security Council in [...]
Reduced Deck Manning for foreign going Bulk Carriers less than 30,000 GRT engaged in international trading - Regarding Extension.
1. This Directorate after careful consideration extends validity of D.G. Shipping Order No.3, Dated 8th May 2008 by six months (till 07th May 2009).
2. The contents and effect of D.G.Shipping Order No. 3 of 2008, except [...]
STX and SCI Sign Contract.
Shipping Corporation of India (SCI) has signed contracts for construction and delivery of four Panamax bulk carriers with STX Shipyard, reports said.These vessels would be of higher capacity in the Panamax size range with 80,655 DWT each compared to the conventional Panamax vessels of 75,000 dwt.. SCI has embarked upon a fleet acquisition plan and [...]
