Shipbuilding
Restructuring facing rough going
The three shipbuilders in South Korea which had been decided to undergo debt rescheduling program (“Workout”) in the first round of restructuring are having a hard going. Main shareholder’s noncooperation, conflicts with foreign shipowners, ...
2009-04-17 06:17:07
Replacing vessels to help Germanish
The German government will bring forward investments in ships to help its troubled shipyards to survive the current downturn. According to Minister of Transport Wolfgang Tiefensee, old state-owned vessels should be scrapped earlier than originall...
2009-04-16 06:49:38
New orders draw near
While shipbuilding orders have almost ground to a halt worldwide this year, some South Korean shipbuilders are said to be receiving newbuilding inquiries. As newbuilding prices fell to four-year low, some shipowners seem to be beginning to find ne...
2009-04-16 06:14:31
Dae Sun delivers nuclear waste container carrier
The first South Korea-built nuclear waste container carrier has been completed. Dae Sun Shipbuilding & Engineering on April 15th delivered the country’s first pure nuclear waste container carrier to Korea Radioactive Waste Management Corporation...
2009-04-15 14:06:38
Blohm+Voss cuts Man-powers
Hamburg-based Blohm+Voss shipyard plans to introduce reduced working hours from May for its newbuildings segment. A spokesman for the yard said that a double-digit number of the yard’s 780 employees could be affected by the decision. The ship...
2009-04-14 07:10:55
Rongsheng lays down Suezmax
China’s Jiangsu Rongsheng Heavy Industries has laid down the keel of the third 156,000-dwt Suezmax tanker (of the series of 6 vessel) for Novoship OJSC. The vessels are being built within the framework of the company’s fleet renovation program...
2009-04-14 07:07:10
Rich-get-richer & Poor-get-poorer
Large shipbuilders in South Korea including the world’s largest shipbuilder Hyundai Heavy Industries seem to be benefiting from the restructuring of small and midsize shipyards such as weeding-out of nonviable yards, debt rescheduling program (debt...
2009-04-13 15:35:18
Turkey's shipbuilding takes 5th place
Due to projects implemented by the Turkish ministry of transport in the last 4 years to increase shipyard capacity, Turkey’s worldwide market share in shipbuilding has risen from 0.9% to 1.4% making Turkey 5th in global shipbuilding behind Germany ...
2009-04-13 14:04:14
Subsidy for shipbuilders nearby: India
Indian government is considering a new subsidy scheme for the shipbuilding industry to enable the sector to sustain its growth momentum. "The financing requirements of the shipbuilding industry need to be reviewed in order to strengthen the indust...
2009-04-13 13:59:00
New 250K VLOC underway
Sources say yards in Japan, South Korea and China have been sounded out to design a new 250,000-dwt bulker specifically for the coal trades. One industry expert says the impetus has come from the world's largest mining company, Australia's BHP Bil...
2009-04-13 07:03:07
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