Ships beached for scrap as returns reach record low

Business Mar 13, 2015

Ships beached for scrap as returns reach record low

by Naomi Christie

Scrap yards are preparing for record numbers of freighters as shipping rates tumble to all-time lows. Owners may demolish 40 million deadweight tons of dry bulk carriers, more than double last year's total, according to Arctic Securities ASA in Oslo. Rates to ship commodities slumped ...

National Apr 21, 2014

China ship seizure hikes redress fears

China's seizure over the weekend of a containership owned by shipping giant Mitsui O.S.K Lines for its failure to respond to a wartime compensation order related to a contractual dispute has raised concerns in Japan that further assets may be confiscated if more rulings ...