Dubai’s Gulf Navigation Holding, the sole maritime and shipping company listed on the Dubai Financial Market, has revealed its plans to rigorously expand its fleet of ships in 2010, grasping the opportunity to acquire tonnage while values are low. The…

Read at Dubai’s GulfNav set to expand fleet

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• Idle Container Fleet falls on slow steaming and increase extra-loader

    AXS Marine’s newsletter reports that the idle containership fleet fell below 10% for the first time in six months as slow steaming and the deployment of extra loaders for the pre-Lunar New Year cargo rush took up more than 60,000 teu of idle tonnage over the last fortnight. As at

• Global container fleet is expected to increase by 6 pc

    The global containership fleet is expected to increase only by 6.1 per cent in 2009, representing “the lowest annual growth rate recorded by Alphaliner since 2000.” The report had predicted at the beginning of the year that the world boxship fleet would expand by a total of 1.85 million TEUs

• JPMorgan cuts for the costs expected to ship coal and iron ore

    JPMorgan Chase & Co.

• Hyundai Merchant to expand fleet to Asia-Middle East route

     Hyundai Merchant Marine, South Korea’s No.

• Hyundai Merchant to expand fleet to Asia-Middle East route

     Hyundai Merchant Marine, South Korea’s No. 2 shipper, plans to expand its fleet on its Asia-Middle East route as part of efforts to meet rising demand, according to Organisation of Asia-Pacific News Agencies. The shipper plans to add two more container ships on April 19 that will leave from South Korea

• Mercator Lines plans to buy six tankers used

    Mercator Lines, the second largest private shipping company, is planning to buy six second-hand tankers this year as the company is looking to expand its fleet by taking advantage of the prevailing low prices globally. In today’s market, these six ships would cost between Rs 400 crore and Rs 600

• Add Hyundai Merchant Fleet on Asia-Middle East route

    Hyundai Merchant Marine Co., South Korea’s No. 2 shipper, said Sunday it plans to expand its fleet on its Asia-Middle East route as part of efforts to meet rising demand. The shipper plans to add two more container ships on April 19 that leave from South Korea and call at

• STX Pan Ocean has eight VLOCs book with Sister South Korean company STX offshore …

    The 400,000-dwt ships are widely understood to be tied to the $5.84bn consecutive voyage contract signed between STX Pan Ocean and Brazilian miner Vale last month. Brokers say five of the units are due in 2012 and three are to be delivered the following year. How much the shipowner is paying

• Record numbers for the Liberian flag fleet

    The Liberian Registry has topped record figures as 2009 saw its fleet grow to a record 3,140 ships, aggregating 97.2m gross tons and representing a net growth during the course of the year of 215 ships and 10.5m gross tons,… Read at Record fleet numbers for Liberian flag

• Oil extends slide close to $ 74 in Asia

    Global oil prices dropped near $74 a barrel in late Asian trade Friday as investor confidence on commodities dipped after Dubai’s financial troubles. Light sweet crude for January delivery was seen trading at $74.17 a barrel at 4.00 p.m Singapore time extending losses from early European trade while Brent crude

• Offshore oil find to be expected that a shot in the arm, for GDP

    Dubai’s new offshore oil find may hold the promise of making a significant contribution to the emirate’s gross domestic product (GDP) during its life cycle, but much will depend on the volume of commercially recoverable reserves and the cost of production, say energy experts. At present, oil contributes less than

• CITIC UPW 12 bulk vessels start of construction

    It is reported that CITIC Pacific’s 12 bulk cargo ships with carrying capacity of 115,000 tonnes for each start construction. As per report Shanghai Jiangnan Changxing Heavy Industry Co Ltd will build all of those ships. This order was agreed between CITIC Pacific and Jiangnan Changxing Heavy Industry last year

• Two ships of Ghost Fleet &#92 u0026quot, head to the junkyard

     (hamptonroads) Two more orphaned ships from the James River Reserve Fleet, better known as the “ghost fleet,” will be scrapped under recycling contracts announced Monday by the U.S. Maritime Administration.  The Escape, a former Navy rescue ship built in 1942, will be dismantled by Bay Bridge Enterprises, a salvage yard in Chesapeake

• Mercator Lines to buy Rs 460 cr to five tankers

    India’s second-largest private shipping company Mercator Lines is looking at adding four to five ships in the tanker segment over the next three months as prices of vessels have crashed up to 50% from their peak two years ago.

• Thome set to grow to the fleet of 30 vessels

    Thome Shipmanagement is set to grow its fleet by 30 ships over the next few months on the back of three new clients. The Singapore-based ship manager says it has three new principals, Norwegian owner Solvang, Sirius and another undisclosed Swedish owner. “We will have 30 ships coming over to