Chinese owner Rewood Ocean Shipping (ROSCO) has listed its entire fleet for sale again, having failed to conclude a deal to sell the vessels in May. John Michael Radziwill was linked by brokers to a $177m fleet deal in February, however in May the vessels were back on the market after the...
Taiwanese conglomerate Formosa Plastics is having a fleet clear-out with a host of different ship types put in the shop window in recent weeks. The company, the world’s sixth-largest chemical producer by chemical sales, has let go of two of its oldest long range tankers. The two 70,400-dwt sized &...
https://splash247.com/formosa-plastics-pushes-ahead-with-fleet-clearout/
Chinese financial leasing house Minsheng Financial Leasing has acquired five boxships from Singapore’s PIL in an enbloc deal worth $88.9m, according to Allied Shipbrokers. The five vessels are the 2013-built 4,335 teu Kota Lihat, the 2008-built 4,250 teu Kota Lawa, the 2006-built 3,081 te Kota...
https://splash247.com/minsheng-financial-leasing-snaps-up-five-pil-boxships/
Chinese ship design and shipbuilding firm Shanghai Bestway Marine Engineering Design is facing multiple risks in several major shipbuilding contracts, which would potentially hurt the company financially, according to the company’s third quarter report. The company believes there’s a risk that it...
https://splash247.com/shanghai-bestway-facing-non-payment-for-several-shipbuilding-contracts/
Average index rates for smaller bulkers enjoyed their highest rates in the third quarter since 2011, according to the head of Hong Kong’s largest shipping line, Pacific Basin. However, that is no reason to rush out and buy a new ship. Speaking at the Maritime CEO Forum, held in Hong Kong earlier...
https://splash247.com/why-youd-have-to-be-mad-to-order-a-new-bulker-today/
Two VLCCs from Cosco Shipping Energy Transportation (CEST) are set to join the Navig8 VL8 pool. The 2014-built 322,860dwt will be delivered to the pool later this month, with a second modern unit to be delivered during November. “We are extremely excited to have received CSET’s commitment and...
Hong Kong’s Orient Overseas Container Line (OOCL), now part of Cosco, has outlined its sulphur cap plans, which will see it pursue a low sulphur fuel strategy rather than opting for scrubbers or LNG-fuelled ships. Like its peers Hapag-Lloyd, Maersk, CMA CGM and MSC, OOCL has also warned clients...
https://splash247.com/oocl-warns-shippers-must-shoulder-sulphur-cap-burden/
China Ocean Industry has entered into a sale and leaseback agreement with Ruilian Asset Management Company for the entire assets of its subsidiary yard Jiangzhou Union Shipbuilding. Under the agreement, China Ocean Industry will sell Jiangzhou Union Shipbuilding to Ruilian Asset Management for...
Chinese ship leasing house ICBC Leasing has sold its 2001-built panamax bulker via an auction at Guangzhou Shipping Exchange. The 75,900dwt vessel has been sold to an undisclosed Hong Kong owner for a price of $7.62m. MSI has given a fair market value of for the vessel. ICBC Leasing is China’s...
The Pacific market for capesizes are “on fire”, according to John Michael Radziwill. Speaking at last week’s Maritime CEO Forum in Hong Kong, the GoodBulk boss was on typically bullish form telling the exclusive shipowner gathering that the Q4 rally is well underway. “A lot of ships have left the...
https://splash247.com/cape-market-in-the-pacific-on-fire-radziwill/