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...

Japan’s Nisshin Shipping has returned to its favoured Chinese shipyard for five kamsarmax newbuildings. Jiangsu Hantong Ship Heavy Industry said the company had signed up for the 82,000-dwt ships for delivery by 30 November, 2016. It did not give a price, but similar ships have been costing between $26m and $30m each. Nisshin already has three 64,000-dwt bulkers and two 38,000-dwt vessels on order at the yard, with two kamsarmaxes contracted at Jinhai Heavy Industries and four 39,000-dwt s...