K Line has ordered another four car carrier newbuildings from domestic shipbuilders adding to four contracted in September. As with the earlier orders they have been split between Shin Kurushima Dockyard and Japan Marine United Corporation. The Japanese shipowner said deliveries are scheduled to start in 2015 and continue through the first quarter of 2017. “By adding this series of eight new ships with better stability and better fuel efficiency, we continue to deliver improved efficiency w...

  NEWBUILDING   GENERAL COMMENT The market remains quite active, especially for large bulk carriers. Yards continously trying to push up prices and certainly with a great deal of success. The magic usd 100 million barrier for a VLCC may be close. ACTIVITY LEVEL Tankers Dry Bulkers Others Active Strong Slow Average Far Eastern Prices PRICES PRICES (mill usd...

Canada’s Algoma Central Corporation has posted a dip in third-quarter profit, but the trend for the year is up. The products tanker and bulker owner said its net earnings were CAD 28.32m ($27m) to 30 September, down from CAD 29.62m in 2012.Revenue decreased from CAD 165m to CAD 146.94m last year. Domestic bulkers produced profit of CAD 19m, from CAD 25m in 2012, as operating days declined, while tankers added CAD 5.65m, up from CAD 3.82m. Ocean-going bulkers added CAD 4.69m, down from CAD 4...

Adamantios Lemos-controlled Unisea Shipping has signed a $120m contract for four products tankers at Hyundai Mipo. Seoul-listed Mipo announced the quartet from an unnamed European owner this morning. It says the 50,000-dwt ships will be delivered by March 2016. TradeWinds reported on Friday Unisea had signed a deal for four ships at Mipo as part of Shell’s “Project Silver”. Sources today confirm Unisea has taken the vessels, which Mipo prices at KRW 129.7bn ($121.9m). It had previously be...