Daewoo profit halved [Finance]
Daewoo Shipbuilding & Marine Engineering (DSME) of South Korea posts its earnings report for the third quarter 2011 on 2 November. Revenue turns out to be KRW 2.8389trn ($2.5124bn), down by 4.5% on Q3 2010 and by 10.7% on Q2 2011. Also, operati...
2011-11-02 14:24:15
Apply for OFFSHORE KOREA [Equipment]
Applications for participation in 'OFFSHORE KOREA 2012' among South Korean marine equipment manufacturers are now accepted. OFFSHORE KOREA 2012 is held for three days from 14th to 16th November next year at BEXCO, Busan. The exhibition is joi...
2011-11-02 14:10:29
Papandreou surprises yards [General]
South Korea's shipbuilders' stocks make another drop, as European financial crisis becomes an issue again. In an early trading today, 2 November, Hyundai Heavy Industries are traded in KRW 284,000 ($250), down by 5.33% on yesterday. Samsung Heavy ...
2011-11-02 12:10:50
STX O&S new LNG cargo tank [Equipment]
South Korea's STX Offshore & Shipbuilding gets an approval in principle (AIP) from DNV of its independent-typed cargo tank for LNG carrier. The newly-developed 'ITS(Independent Tank of STX)' is made with STX' own technology and available in 213,0...
2011-11-02 11:09:05
JBIC shakes hands with Danish [Shipping]
Japan Bank for International Cooperation (JBIC) finalised buyer-credit contract within limits of $50m with Norden Shipping of Denmark on 31 October. The financing would pay for two 37,000-dwt bulkers with deliveries in July 2012 and June 2013, bui...
2011-11-02 10:42:22
New order slash [General]
Newbuilding price has decreased by a small margin from the early this year, however, Chinese yards' low-price newbuilding negotiation pressures newbuilding price further down. Japanese shipbuilders aim to differentiate with their high-efficiency ...
2011-11-02 09:57:51
Petrobras inks $1.4bn orders [Offshore]
SapuraCrest Petroleum has confirmed it has bagged a trio of pipe-laying vessel construction and charter contracts worth $1.4 billion from Brazilian oil giant Petrobras. The Malaysian oil industry services giant is to build one of the units in Bra...
2011-11-02 08:30:21
VLCC falls to eight-year low [Shipping]
Five-year-old VLCC values dip under $60m, according to Baltic Exchange assessments. Dipping below $60m is for the first time in over eight years and to the lowest level reported by the Baltic Exchange since it started publishing secondhand sale an...
2011-11-02 08:25:35
ADSB in red ink [General]
Falling revenues and adverse currency dealings have hit Abu Dhabi Ship Building’s bottom line. The Abu Dhabi-listed shipbuilding outfit posted loss of AED 14.8m ($4m) in its third quarter results compared to a profit of AED 49m profit in the sa...
2011-11-02 08:22:54
Naikai earns more [Finance]
Japan's Naikai Zosen has lifted first-half profit as revenue improved. The mid-sized yard said net earnings were JPY 1.61bn ($20.6m) to 30 September from JPY 1bn in the same period last year. Revenue grew to JPY 25.37bn against JPY 20.63bn in...
2011-11-02 08:19:09
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