Japan Ship Operator to Slash Bulk Ship Newbuild Orders

Bloomberg
Thursday, October 11, 2012

Daiichi Chuo K.K. may cancel ship orders, pare its fleet & sell new stock after getting emergency financing from shareholder Mitsui O.S.K. Lines Ltd.

To help weather a slump in dry-bulk rates the company is in talks about canceling or delaying 10 of 60 on-order dry-bulk vessels as it heads toward a second straight annual loss, reports Bloomberg.

The report adds that Nippon Yusen K.K. and Mitsui O.S.K., Japan's largest shipping lines, have also cut earnings forecasts as the industry contends with expanding capacity, slowing demand and higher fuel prices.

Source: Bloomberg

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Apprentices Graduate to Newport News Shipbuilding

Huntington Ingalls Industries (HII) hosted commencement exercises Saturday to graduate 157 apprentices from the company's Apprentice School located at Newport News Shipbuilding.

Interview: Nakilat's Samir Bailouni

SGMF Membership - Uncovered: An interview with Samir Bailouni, Nakilat The Society for Gas and Marine Fuel (SGMF) recently interviewed one of its members, Samir

Elcome Enters Sales, Service Deal with JRC

Elcome International has signed a distribution agreement with Japan Radio Company (JRC) and its technology partner Alphatron Marine.   Under the agreement, the

Bulk Carrier Trends

Golden Ocean, Knightsbridge Set for Merger

Dry bulk shipping companies Golden Ocean Group Limited (GOGL) and the listed dry bulk shipping company in John Fredriksen's business empire Knightsbridge Shipping

Mitsubishi Bags Fourth LPG Carrier Order from Astomos

Tokyo-based Astomos Energy Corp has placed an order today with Mitsubishi Heavy Industries (MHI) for a very large liquefied petroleum gas (LPG) carrier.     The 83,

ClassNK's Structural Rules for Bulkers & Tankers

The Nippon Kaiji Kyokai (ClassNK) has announced the establishment of its “Common Structural Rules for Bulk Carriers and Oil Tanker” (Rules for the Survey and

Finance

Cheap Oil Threatens Debt Squeeze for Smaller North Sea Producers

Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,

Royal Caribbean to Sell Splendour of the Seas

Royal Caribbean Cruises Ltd. announced that it has entered into an agreement to sell its cruise ship Splendour of the Seas to TUI Cruises in the second quarter of 2016.

Johan Sverdrup Contract to "Pioneering Spirit"

Statoil has signed a contract with Allseas for installation of three platform topsides on the Johan Sverdrup field.   The vessel will be installing the topsides for the drilling,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 1.0189 sec (1 req/sec)