HMM secures 13,100TEU loan [Finance]
Hyundai Merchant Marine nets a loan to pay for five mega-containerships on order at Daewoo Shipbuilding & Marine Engineering in South Korea. DNB Bank is heading the $500m syndicated facility which will cover the 13,100-teu quintet inked in August...
2011-12-14 07:45:10
Chinese plate price sinking [Equipment]
Chinese marine thick plate price is in decrease. According to mysteel.com of China, marine thick-plate price in main cities, including Shanghai, Jinan, Tianjin, etc., have dropped this month. The offer price for thick plate is down by CNY 50-100. ...
2011-12-14 07:20:10
Low-price continues [Shipbuilding]
Shipbuilders are more likely to contract in low-margin, facing with tougher competition for securing new order in 2012. Also, increase in share prices would be limited due to newbuilding prices of VLCC, bulker, etc., in decline. Analyst Yum Dong-...
2011-12-14 07:14:56
Hyundai's executives promotion [General]
South Korea's Hyundai Heavy Industries Group made a promotion on division head executives on 13 December. Construction Equipment head executive Choi Byung-Gu has been promoted to president from vice president, etc. Regarding head-executive per...
2011-12-13 15:47:29
2011 scrapping record-high [Shipping]
During 2011, shipping companies have massively conducted scrapping of old ships in the face of over-supply. According to Korea Maritime Institute on 11 December, scrapping would record the all-time high of about 40m dwt in 2011, quadruple of 10.43...
2011-12-13 14:38:24
Hanjin to be unburdened [Finance]
South Korea's Hanjin Heavy Industries & Construction appears to gain growing momentum for next year, freeing itself from previous difficulties. Analyst Lee Jae-Won, Tongyang Securities said, "Subic yard's plans for pre-IPO in 2012 and IPO in 2013 ...
2011-12-13 12:58:29
Samsung 2012 executives promotion [Equipment]
Samsung group of South Korea made promotions for 501 number of executive directors on 13 December. Through the largest-scale advancement, there were a total of 22 executive directors being promoted in Samsung Heavy Industries. Promotion list ...
2011-12-13 12:35:10
Japanese LNG order boom [Offshore]
Japan's new order consultations for LNG carriers hit their stride. CHUBU Electric Power started pre-qualification screening of shipping companies and yards before placing one newbuilding for Australia's Gorgon project and one for Ichthys. CHUBU ai...
2011-12-13 11:53:11
"Conservative" : 2012 [General]
South Korean builders are likely to lower targets for 2012 and focus more on offshore, as European financial crisis troubles market and new order for commercial ship sector is expected to be depressed. Samsung Heavy Industries have targeted $11.5b...
2011-12-13 10:32:09
Subsea 7 bags new orders [Offshore]
Offshore engineering firm Subsea 7 has won two new contracts from Shell for engineering and installation works at two Gulf of Mexico plays. The company announced the double contract wins at the Cardamom and West Boreas projects in a statement on ...
2011-12-13 08:29:19
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