Drillship, "To be continued" [Shipbuilding]
New orders for ultra-deepwater drillship, used to lead newbuilding market in the first half 2011, has slowed down a bit in H2. However, newbuildings would resume to be sealed from the second quarter 2012. Analyst Jun Jae-Chun from Daishin Securiti...
2011-12-23 07:55:00
Sungdong finally financed [Finance]
The Export-Import Bank of Korea (Korea Eximbank) decided to support financially-ailing Sungdong Shipbuilding & Marine Engineering of South Korea. Also, other creditor banks agreed to join with Korea Eximbank's move even without Kookmin Bank's partici...
2011-12-23 07:49:34
Keppel inks semi-sub rig [Offshore]
Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Fernvale Pte. Ltd., has secured a contract worth approximately US$809 million from Urca Drilling B.V., a subsidiary of Sete Brasil Participações S.A. (Sete Brasil), for t...
2011-12-23 07:45:21
Yangzijiang turns ship breaker [Equipment]
China's large privately-owned shipbuilder Yangzijiang Shipbuilding is set to become a very significant ship breaker. The Yangzijiang group is investing RMB 240m ($38m) in a shipbreaking venture that will have the capacity to scrap up to 15 VLCCs ...
2011-12-23 07:41:09
STX OSV newbuild deal sold [Shipping]
DOF Subsea Rederi AS, a subsidiary of DOF Subsea AS, has purchased a newbuilding contract for an offshore construction vessel. The vessel will be delivered from STX OSV in May 2012. The vessel is equipped with 2 x WROVs and a 250 T AHC crane....
2011-12-23 07:36:35
Excelerate firms up LNG-FSRU [Offshore]
Excelerate Energy has firmed up a deal with the Puerto Rico Electric Power Authority to provide an LNG floating storage and regasification unit off the southern coast of the Caribbean nation. The US-based regas specialist is teaming up with PREPA...
2011-12-23 07:29:38
Valemax to gain Chinese approval [Shipping]
Losses Vale may suffer from selling its 19 very large ore carriers (VLOCs) might be a small price to pay to gain access for the behemoths to Chinese ports, says ICAP Shipping’s James Leake. The broker’s research managing director says the Bra...
2011-12-23 07:26:39
Wartsila new design for pipelayer [Shipbuilding]
Wärtsilä, the marine industry's leading solutions provider, is to supply the design and propulsors/positioning system for a series of two new flexible pipe laying vessels (PLVs) for advanced operations. The vessels are to be built at th...
2011-12-23 07:20:53
STX Group executives promotion [General]
STX Group of South Korea made promotions and appointments of head executives on 22 December. STX Group announced that it had a total of 95 prmotions and two appointments, including one promotion to president, three to vice presidents, six to exec...
2011-12-22 16:22:19
Mitsui deliveries edge up [General]
Mitsui Engineering & Shipbuilding of Japan announced its 2011 newbuilding delivery on 21 December. Mitsui delivered a total of 26 vessels of 1.22m gt year-to-date, down by three vessels but up by 1% in gross tonnage terms on 2010. In terms of w...
2011-12-22 11:24:45
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