Shipbuilding
No order cancellations: Yangzijiang
China’s largest private shipbuilder, Yangzijiang Shipbuilding, says it has had no order cancellations and is planning acquisitions in the economic downturn. “We have not had any cancellation so far. However, since times are tough in lieu of the p...
2009-02-25 09:43:55
SembCorp Marine’s orderbook rises 30%
Singapore ship and rig builder Semb-Corp Marine’s orderbook jumped by a third to S$9bn ($5.9bn) in 2008 despite increasing global economic turmoil. New rigbuilding orders helped Semb-Corp Marine secure S$5.7bn of new contracts last year, ensurin...
2009-02-25 07:34:13
Aker Phil begins construction on its tenth tanker
Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, cut steel on Hull 014, the tenth product tanker in the series of twelve to be built for American Shipping Company. Production of this vessel begins a few days after the successful delive...
2009-02-25 07:29:47
China stimulus to benefit larger yards
China’s shipyard stimulus package, approved by the State Council two weeks ago, could have only limited immediate effect in helping the country’s shipbuilders while harming prospects for smaller shipyards. Outlining the impact of the new policy, ...
2009-02-25 07:23:53
Cancellation attempt thwarted by weak won
Shipowners’ efforts to secure the cancellation of billions of dollars of newbuilding contracts placed with South Korean shipbuilders are being hampered by the weakness of the won, which is threatening to result in huge currency losses for the yards...
2009-02-25 07:16:11
Newbuilding Price Falling
The Clarkson Newbuilding Price Index as of February 20th recorded the lowest level of 160 points since March 2005, down 17 points (9.6%) from 177 points at the end of last year. The latest figure is down as much as 30 points (15.8%) from the peak ...
2009-02-25 06:19:33
Newbuilding Market Panic
Shipbuilding ordering activity in effect ceased and jitters are growing in the newbuilding market. Shipbuilding market has been almost paralyzed since the financial crisis occurred in October. Orders for offshore units and special vessels have been ...
2009-02-24 17:33:49
Korea scarcely offers hope of delays
Executives from Israel’s Zim Integrated Services join their container line colleagues who are visiting South Korean shipyards this week, as they thrash out a delayed delivery schedule for its substantial fleet of newbuilding containerships of 10,00...
2009-02-24 13:34:18
Ship exports to rise 26% in 2009
The South Korean government estimates that exports from the nation’s leading shipbuilders will rise 26% in 2009. Officials at the country’s Ministry of Knowledge Economy revealed in a statement that it had been informed that the country’s to...
2009-02-24 08:50:47
Fincantieri to wind down operations
The impact of a shrinking order book on Italian state-owned shipbuilder Fincantieri is beginning to hit its domestic workforce. The company informed metalworkers’ unions last week that workloads at four major yards will start winding down from ...
2009-02-24 08:42:22
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