Chinese S&M in trouble [General]
Two small and medium-sized Chinese shipyards — Nantong Huigang Shipbuilding Co and Nantong Qiya Ship Engineering — are in a battle for survival, according to reports. Nantong Qiya Ship has filed for bankruptcy although Nantong Huigang ...
2011-11-07 07:34:35
New boxship value falls 31% [Shipping]
New containerships’ value dropped as much as 31 percent since April because of falling hire costs and cooling economies, according to Seasure Shipping Ltd. Post-panamax vessels that are too large to navigate the Panama Canal are worth $73.2 mill...
2011-11-07 07:26:48
Scottish wins plug-in ferries [Equipment]
Scottish shipyard Ferguson has won an order for the world's first sea-going battery-powered ferries. The Port Glasgow plant has won a contract from Caledonian Maritime Assets (CMA) for vessels that can be charged up in port each night. The ya...
2011-11-07 07:23:54
Yang Ming orders 16,000TEU's [Shipbuilding]
Yang Ming is set to join the mega containership trend with orders for a series of 16,000-teu vessels in the pipeline. The new vessels are almost double the size of the largest 8,241-teu vessels currently in the fleet of the Taiwan based liner shi...
2011-11-07 07:17:51
Aker Phil in loss [Finance]
Aker Phildelphia Shipyard has posted a nine-month loss as revenue dwindled. The shipbuilder logged revenue of only $100,000 in the third quarter as it built two speculative tankers, which it is still trying to sell. The net loss in the nine m...
2011-11-07 07:15:07
Kuwaiti yard earnings higher [Finance]
Kuwaiti Heavy Engineering Industries & Shipbuilding (HEISCO) has pushed up profit in the first three quarters of this year. The Shuwaikh port-based shipyard said net earnings to 30 September rose to KWD 5.12m ($18.6m), against KWD 3.39m the year ...
2011-11-07 07:13:15
BC price to fall [Shipping]
Dry bulker prices will fall by 10% to 15% in 2012 as the market reaches its trough, says Arctic Securities. In an update on the sector analyst Erik Nikolai Stavseth said: "The continued drop in time charter rates have rapidly pulled asset values ...
2011-11-07 07:10:47
Double naming drillships: DSME [Offshore]
South Korea's Daewoo Shipbuilding & Marine Engineering held a double naming ceremony for drillships on November 4th. Two drillships, ordered from Brazil's Odebrecht in December 2009, were christened ODN-1 and ODN-2 respectively at Okpo shipyard on...
2011-11-07 07:05:59
JECKU urges green ship [Offshore]
Major shipbuilders from five countries, Japan, Europe, China, Korea (South) and the US, held a 'JECKU Top Executive Meeting,' on 26-28 October. During the meeting, there were requests for governmental supports and other related industries, such as...
2011-11-07 06:45:16
STX newbuilding delays [Shipbuilding]
STX Offshore & Shipbuilding of South Korea faces consecutive postponement of newbuilding deliveries. STX noted on 31 October that there was a change of delivery for one VLCC and two bulkers, originally scheduled for the end of October, has been ch...
2011-11-07 06:41:30
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