Cancellation risk "Limited" [Shipping]
Possible newbuilding cancellation is analyzed to be just about 7% of overall new order, of which bad effect on shipbuilders would only be limited. Kyobo Securities of South Korea said on 3 Jan, "Newbuildings likely to be cancelled are mainly bulke...
2012-01-04 10:42:41
SPP seeks "Qualitative growth" [General]
SPP Shipbuilding of South Korea would push for qualitative growth. Chairman Lee Nak-Young, SPP Group said from his New Year's message on 2 January, "SPP Shipbuilding took over 50% of world newbuild MR tanker amid depressed market and SPP Yulchon ...
2012-01-04 10:09:54
Prosafe grabs Shell deal [Offshore]
Prosafe of Cyprus has won an accommodation contract for one of its accommodation rigs in the North Sea. The Oslo-listed company said Shell Norway had awarded it a firm 150-day deal for the semi-submersible Regalia (built 1985) worth $55.1m. T...
2012-01-04 08:22:33
Deep Sea "hopeful" [Offshore]
Deep Sea Supply is expected to secure a string of period contracts with Petrobras, says Handelsbanken. Analyst Christian Dyvik has lifted the John Fredriksen-controlled company from accumulate to buy, suggesting last year’s slump in the company...
2012-01-04 08:19:12
Platou tips 2012 recovery [Finance]
Norwegian finance house RS Platou Markets believes 2012 could mark the beginning of a recovery. “Overall we believe 2012 will still struggle with high fleet growth for tankers, dry bulk and containers with lower rates on average in 2012 than la...
2012-01-04 08:15:18
Outlook "Not So Bright" [Finance]
South Korean shipyards received new vessel orders worth 52 billion US dollars during the January to November period last year up 6 percent from the previous year. Those numbers were good enough, to place the nation's shipbuilding industry first in...
2012-01-04 08:09:46
Ecospeed for ice-going newbuilds [Equipment]
A Norwegian based shipping company chose Ecospeed to give lasting protection to their two newbuild general cargo vessels. The first vessel, M/V Golfstraum, was delivered in November. Her sister vessel M/V Rystraum is planned for a 2012 delivery. ...
2012-01-04 08:05:43
Europe "indispensable" [Shipbuilding]
A difficult year for Europe and likewise for the shipbuilding industry ended with encouraging signals from European Institutions, which underline the importance of the sector and the respective understanding of policy makers. The Council, the Com...
2012-01-04 08:01:12
Chem tankers bright [Shipping]
High levels of demolition sales over last three years raised outlook for chemical tanker earnings. Shipowners in the sector can look forward to a brighter year than other tanker sub-sectors, with 2012 earnings expected to rise due to improved mark...
2012-01-04 07:55:47
E&P spend to slow [Shipping]
Spending on oil & gas exploration and production would grow by 9% in 2012, a slower pace than 2011, Dahlman Rose predicts. But that spending could fall further if US natural gas prices do not recover, Reuters reported, citing the data. Spendi...
2012-01-04 07:51:44
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