Topic “shipping companies” — Exporter Magazine

Container ship charter rates are retreating as a wave of newly-built ships entering the market dulls ocean carriers’ appetite for hired vessels, according to Hellenicshippingnews.com. Rising fuel prices, tumbling freight rates, piracy and now radiation fears will make this year one of the most difficult in decades for the maritime industry, forcing some shipping companies out of business, according to a Reuters report carried by mb.com.ph. The report cited Clarkson Plc, the world’s biggest shipbroker, saying a total of 38 capesizes, carriers three times the size of the Statue of Liberty, will be demolished this year.