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Tanker freight rates: Where are they heading?

Apr 16, 2007

Tanker freight rates across segments (VLCC, Suexmax, and Aframax) continue to remain highly volatile. As can be seen from the table below, freight rates for VLCCs (very large crude carriers), averaged US$ 40,222/day in FY07, with the highest average rates of US$ 59,136/day recorded in August 2006 and the lowest average freight rates of US$ 22,189 recorded in April 2006. Similarly, freight rates for Suezmax averaged US$ 37,170/day in FY07, with an average high and low of US$ 52,949/day and US$ 25

Varun Shipping: Sailing ahead

Apr 12, 2007

Formed in 1983, Varun Shipping Company Limited (VSCL) is a niche player in the shipping industry. The company focuses on the mid-size LPG carrier segment. It boasts of a well-diversified fleet that comprises 12 LPG carriers, 1 product tanker, 3 crude oil tankers and 3 AHTS (anchor handling tug supply vessels). As of 31st March 2006, VSCL owned 76% of the total LPG tonnage (on dwt basis) under the Indian flag.

Identifying a shipping stock: Do's and don'ts

Jan 8, 2007

Shipping industry is a primary means of international transportation of any essential commodity.

GE Shipping Vs Teekay Shipping

Jun 17, 2004

Unlike other sectors, shipping is a global industry i.e. freight rates, demand for tonnage and profitability are closely linked to the progress in global trade. In this article, we will discuss about the contemporary global shipping industry and see where two shipping majors, Great Eastern Shipping (or GE Shipping) and Teekay Shipping, stand among the whole scheme of things. As a matter of fact, while the former is the largest private sector shipping company in India, the latter shares its place

Dredging Corp.: An overview

Feb 25, 2004

The Dredging Corporation Of India (DCI) was established in 1976 to provide dredging services to the major ports of the country in India. It is not only involved in capital dredging (it is the process of removing the ‘virgin’ soil to create the designed depth in the water bodies/adjacent to water bodies), but also works towards deepening of existing harbors and maintenance dredging (it is the process of removing the accumulated material in the existing ports and harbors) at various ports along th

Concor: An overview

Dec 22, 2003

Container Corporation of India (Concor) is a subsidiary of Indian Railways. The company provides logistic solutions through various terminals connected through railways (28), roadways (6) and ports (5). With more than 8,000 owned and leased containers, the company is one of the efficient logistic companies in India.

“We may consider buy-back of shares at the right time…”

Sep 20, 2000

In an interview with, Mr. Sheth shared with us the prospects of the shipping industry in general and Great Eastern’s future plans in particular.

Set to cruise on perked up world trade

Jul 8, 2000

After a rough patch during the Southeast Asian crises, lady luck seems to be smiling at the shipping sector. This is because, globally freight rates are moving up and the global trade scenario looks promising (Japan is staging a recovery, US economy is booming and prospects in South East Asian economy are encouraging).

Management focus holds the key...

Jul 8, 2000

One of India’s shipping ‘greats’, The Great Eastern Shipping Corporation (GESCO) owns around 15 percent of the country's fleet. The average age of the fleet is around 14 years. It is the largest private operator of Offshore Support Vessels (OSVs) in India, which are mainly chartered to Oil and Natural Gas Corporation.

A perspective on Dry bulk and tanker segment

May 23, 2000

The demand for tonnage transportation in the shipping sector depends on the world economic outlook, the trend in industrial production and the trade scenario. A look at the composition of Indian fleet size indicates that the dry bulk and the tanker segment constitute nearly 40% and 28% respectively of the total fleet proportion. What influences the freight rates and the demand for these carriers?

Shipping – Heading North?

May 16, 2000

Financial year 2000 ended on a promising note for the shipping sector. Port traffic during the year registered an 8% growth at 272 million tonnes. The signs of improved global trade scenario should boost the domestic trade as well.

Fleet expansion in shipping – A Mirage

May 13, 2000

The gross registered tonnage (grt) transported by Indian shipping companies is on a declining trend. The share of Indian shipping sector in the total cargo transported worldwide is also decreasing. If the Indian shipping sector has to regain market share, fleet expansion in terms of gross tonnage, has to be taken seriously.

Shipping, where is it heading?

May 11, 2000

The strength of the Indian fleet and the total cargo declined during FY99, reflecting a sharp deterioration in business prospects. However, with the trade scenario looking good, companies like Great Eastern Shipping (Gesco) and Shipping Corporation of India (SCI) should be able to shake off the slowdown that hurt their financial performance.

G E Shipping net declines by 12%

May 4, 2000

G E Shipping has posted a flat topline growth during the year ended 31st march 2000. The company recorded a 4% drop in operating margins to 31% in the current year.

Low freight rates pull down Varun Shipping's net

Jan 21, 2000

Varun Shipping has suffered a 47% decline in net profits for the quarter ended 31st December 1999. The decline in expenditure has been lesser than the fall in revenues resulting in a sharper fall in net profits.

Varun Shipping posts 63% growth in net

Oct 15, 1999

The shipping industry has yet to benefit from the turnaround in the economy. The company has managed to squeeze through a growth in profits, mainly due to lower interest, depreciation and tax costs.

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