Kitanihon fully recovered [Equipment]
Kitanihon Shipbuilding recently completed restoration work of its Kuji Works, damaged from Japanese Great Earthquake early this year. Then, Kuji Works had most of its facilities submerged, except just top of its plant. Right after the catastrop...
2011-12-23 11:59:34
Korea offshore tech R&D [Offshore]
Hicel and HLB of South Korea announced on 22 December that their affiliated Bada Heavy Industries was selected to participate in core technology development in preparation for offshore plant high-risk accident of 'Industry-incorporated Original Techn...
2011-12-23 10:58:01
China faces delivery disruptions [Finance]
As shipping companies are financially troubled by slow recovery of global economy, most yards in Shandong, China are unable to make deliveries on schedule. According to Qingdao Customs, Shandong peaked newbuilding export in March with $500m, however,...
2011-12-23 10:28:58
Brunei eyes new LNG carriers [Shipbuilding]
Brunei is starting a search for a pair of LNG carrier newbuildings. The Asian LNG producer is kicking off phase two of its fleet renewal with a tender for two 165,000-cbm newbuildings. Shipyard sources say Brunei has launched a tender for two...
2011-12-23 10:20:08
Running for VLCC tender! [Shipbuilding]
Taiwan's newly-established JV tanker player is now proceeding with a major VLCC tender that will set a new benchmark for VLCC newbuilding values. Global Energy Maritime is looking for a yard to build two VLCCs plus an additional four, reportedly. ...
2011-12-23 09:09:14
LNG carrier rates hit $155,000 [Shipping]
Rates estimates for LNG carriers seeking a one-year time charter have risen $5,000 in a week to hit $155,000 per day as charterers’ demand for the vessels reflects increasing LNG consumption in Europe and Asia. The new quote for one-year time ch...
2011-12-23 08:17:11
TBS surrenders vessels to bank [Finance]
Cash-strapped shipowner TBS International has agreed to surrender six freshly minted tweendeckers to the Royal Bank of Scotland in an ongoing campaign to deleverage its balance sheet. Sources say the newest additions to the Nasdaq-listed company...
2011-12-23 08:13:45
Subsea 7 wins subsea work [Equipment]
Offshore engineering firm Subsea 7 wins subsea umbilicals, risers and flowlines contract for the West Franklin field in the Central Graben area of the North Sea. The $185 million contract was awarded by Total subsidiary Elf Exploration and will s...
2011-12-23 08:10:11
Keppel upgrades jack-up rig [Offshore]
Kenai Offshore Ventures (KOV) has picked Keppel to carry out repair and modification work to its newly acquired jack-up rig Endeavour. The rig has just been dry docked and is undergoing the first stage of the work, which is expected to be complet...
2011-12-23 08:05:48
Deliveries onto "downhill" [Shipbuilding]
Amid global economic crisis, delivery would sharply decrease from 2012 on, although builders made a record-high delivery this year. Clarksons recently divided global yards into three groups - Mega-yards (orderbook with over 1m cgt), Big-yards (0.5...
2011-12-23 08:02:52
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