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TODAY'S NEWS
 9 May, 2008
Shipmanagers' capacity shortage increasing actuality
While Japanese shipowners and operators are experiencing growing demand for shipmanagement because of their swelling fleets, shipmanagement companies are finding it rather difficult to expand their business due to shortages of seafarers (officers) and ship superintendents (SI).

* NYK orders 300-type ore carriers from Dalian COSCO
* STX's takeover bid of Aker Yards finally approved by EC
* OPRF to investigate GHG emissions from shipping industry
CURRENCIES / STOCK MARKET
CURRENCIES STOCK MARKET INTEREST RATES
Yen/US$ 103.01 -1.25 DOW 12745.88 -120.90 3M $Libor 0.00 --
Euro/US$ 1.5478 +0.0085 S&P 500 1388.29 -9.39 3M YenLibor -- --
Won/US$ 1043.7500 -- NASDAQ 2445.52 -5.72 US 2YR -- --
  NIKKEI 13655.34 -287.92 May. 10 - 5:15 (JST)
Summary from Drewry Report
Newbuilding Ship Sales
Week18 - Week ending May 4th 2008

Since the beginning of the year many were in doubt about the delivery capability of the various Greenfield shipyards across the globe (especially in China), which have taken a considerable amount of the newbuilding orders.
However, looking at an historical precedent, during the Southeast Asian financial crisis,
one of the South Korean new shipyards, known as Halla Shipyard had considerable orders on its orderbook but was badly struck by the financial crisis and went bankrupt.........

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