New order hits trough [Shipbuilding]
Monthly new order remained at 1m-cgt level for four months in a row last month, went up by 8.8% to 1.38m cgt on September. Monthly average of over 3m cgt during the first half has plummeted getting into the second half, 1.82m-cgt newbuilding in July,...
2011-11-07 06:38:25
Korean orders hit rock bottom [Shipbuilding]
South Korean shipbuilders had the lowest new order in October. According to Clarksons, Korea penned new order of just 260,000 cgt, six vessels amounting $1.1bn last month, one tenth of 2.22m cgt in June. China, on the other hand, increased its ...
2011-11-04 17:19:02
Hyundai to win PCC pair [Shipbuilding]
South Korean car carrier player Hyundai Glovis has decided to order a pair of newbuildings worth $134m. A source says the owner plans to pen two new pure car carriers at Hyundai Heavy Industries. It intends to order 6,500-ceu PCC's for delive...
2011-11-04 17:13:16
Hanjin downsizes loss [General]
Hanjin Shipping of South Korea makes a public notice of its third quarter earnings result. During Q3, Hanjin had KRW 135.1bn ($121m) of operating loss, down-sized by 20.6% from loss of KRW 170.2bn in the second quarter. Containership service r...
2011-11-04 16:24:32
Korea aims leisure ship [Equipment]
South Korean shipbuilders get warmed into sweeping leisure ship market. According to Korea Industrial Complex Corporation (KICOX), industrial-educational cooperation holds leisure-boat industrial forum and make a plan or policy for technological c...
2011-11-04 15:39:54
Sumitomo new order 'zero' H1 [Finance]
Sumitomo Heavy Industries of Japan announced its estimated earnings in 2011 fiscal year. Shipbuilding sector's operating profit is to grow to JPY 10bn ($127.9m), up by 1% on y-o-y, and turnover to drop by 4% to JPY 57bn, on consolidated basis. ...
2011-11-04 12:21:44
Slow recovery in 2011 [Shipping]
Shipping market, troubled by triple pressure of over-supply, high oil price and worsened global economy this year, is also forecast to be no different next year from 2012. Korea Maritime Institute (KMI) expects, "Average baltic dry index (BDI) is ...
2011-11-04 11:02:32
Chance to buy Big3 [General]
Massive drop of shipbuilding stock price is suggested to be excessive, saying Greek owners keep placing new orders in spite of worries on Greece default. Dongbu Securities of South Korea said, "Even with concern for Greece default, Greek ship ow...
2011-11-04 10:04:29
DryShips merger with OceanFreight [Finance]
DryShips has completed a merger with Greek compatriot OceanFreight. The Nasdaq-listed owner says the deal was sealed during a special meeting where shareholders approved the proposal, a $239m measure that first saw the light of day back in July. ...
2011-11-04 08:16:52
Rio Tinto ups its fleet [Shipping]
More bad news for dry bulk owners as Rio Tinto Group, the world’s second-largest mining company, will almost double the amount of commodities shipped on vessels it owns or hires. Rio Tinto is set to ship 300m tons a year by 2015, up from 155m to...
2011-11-04 08:11:35
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