Cosco profit cut 42% [Finance]
Cosco Corp (Singapore) has seen its third quarter profit slump due to falling returns from its shipbuilding and dry-cargo operations. Singapore-listed Cosco Corp’s bottom line dropped by 42% to SGD 32.19m ($25.24) year-on-year, it told investor...
2011-11-03 07:53:39
Zaliv delivers seismic fast [Offshore]
Ukraine-based Zaliv Shipyard has completed and delivered to the customer, Norwegian company Ulstein, 3D Seismic Survey Vessel Polarcus Adira ahead of schedule. The Polarcus Adira is the seventh vessel built by Zaliv Shipyard in cooperation with Ul...
2011-11-03 07:51:11
Samsung orders OCTOPUS System [Equipment]
One of the world leading shipbuilders in the world, Samsung Heavy Industries, has selected Amarcon to provide an integrated Wave and Motion Monitoring System for four newbuild Shuttle Tankers to be operated by Teekay. Part of the scope of supply i...
2011-11-03 07:46:28
CSBC profit down 70% [Shipbuilding]
Taiwanese shipbuilding group CSBC Corp has posted a 68% drop in third–quarter earnings. The company said net profit in the three months to 30 September was TWD 223m ($7.4m), slipping from TWD 689m in the same period of last year. Revenue...
2011-11-03 07:39:58
Rieber fixes newbuild [General]
Oslo-listed GC Rieber Shipping had its final newbuild signed up by seismic surveyor, Dolphin Geophysical. Dolphin took an option of the vessel, which is a high capacity 3D vessel equipped with 14 streamers. The three-year contract could be extend...
2011-11-03 07:36:41
Nordea ship loan down [Finance]
Oslo-listed ship finance institution Nordea has cut lending to shipping this year. In the first nine months of this year, income from its ship finance segment, which includes shipping, offshore and oil services, was NOK 1.3bn ($231m), a 13% drop y...
2011-11-03 07:34:12
Teekay fundraiser [Finance]
Teekay LNG Partners is getting ready for a fundraiser that has the potential to top $218m. The New York-listed daughter of parent Teekay Corp says it plans to offload 5,500,000 common units in a public offering and expects to set aside another 82...
2011-11-03 07:30:56
Hanjin starts paid-layoff [General]
Hanjin Heavy Industries & Construction made a decision to carry out paid leave of 400s of staffs from mid-November. Hanjin, in over-ten-month conflict with labor union over redundancy, revealed on 2 Nov that it decided to close down the yard due t...
2011-11-03 07:09:50
China aims offshore [Offshore]
Chinese government has announced an 'Offshore Plant & Equipment Industry Development Strategy (2011-2020)' to support offshore plant-related companies for ten years from now. According to this plan, China aims to establish a foothold on offshore i...
2011-11-03 07:04:59
Daesun books $73m new order [Shipbuilding]
South Korea's Daesun Shipbuilding & Engineering has recently inked newbuilding orders for 2+2 35,000-dwt bulkers and 1+2 vessels of 14,000-dwt general cargo vessels from a shipping company in Europe. Daesun reveals that 14,000-dwt general cargo ve...
2011-11-02 16:00:33
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