Korea aids offshore equip makers [Equipment]
Korea Trade-Investment Promotion Agency (KOTRA) supports South Korean offshore equipment manufacturers to make inroads into global market. KOTRA in association with Busan Marine Equipment Association opens 'Offshore Technology Korea 2011' at Lott...
2011-11-01 15:15:37
Hantong wins Korean supramax [Finance]
South Korea's Minister of Land, Transport and Maritime Affairs announced on 1 November that it approved of '19th Badaro,' a private ship fund. The ship fund creates KRW 147bn ($131.4m) to place an order for four 57,000-dwt newbuilding bulkers at...
2011-11-01 12:19:34
Japan profit slippage [Shipbuilding]
Japanese shipbuilding industry starts to show decrease in business performance. Japanese yards still have newbuildings, ordered in times newbuilding price were hiking, in building schedule. However, profit squeeze in this financial year is foreca...
2011-11-01 11:07:47
China new order plunges [General]
New order of Chinese shipbuilders in September appears to drop as far as that in May 2009 when new order plummeted due to an after shock of a global financial crisis. China Association of National Shipbuilding Industry (CANSI) reveals that newbuil...
2011-11-01 10:06:34
ABB snatches $33m contract [Offshore]
ABB has been awarded a $33m maintenance and service frame agreement with BP Norway. The Swiss-headquartered company will supply BP Norway with maintenance, modification and service of the safety and automation systems of all of its oil field oper...
2011-11-01 08:19:36
Scrap price still high [General]
Demolition rates for scrap vessels have come under pressure on the back of weak domestic steel markets, but some owners have sold ships at prices well above $500 per ldt. “Despite the generally depressed sentiment currently, one or two cash inte...
2011-11-01 08:16:28
DSME-GL's LNG-fuel 14,000TEU [Equipment]
LNG, as a promising fuel alternative, has not been used for container vessels. Daewoo Shipbuilding & Marine Engineering and Germanischer Lloyd (GL) have proved the feasibility of running large container vessels on LNG in a recently completed join...
2011-11-01 08:13:19
NOL in red ink [Shipping]
NOL Group, the parent of container line APL, posted a $91m loss for the third quarter, bringing its net loss for the year to $158m. NOL earned $282m in net profit for the third quarter of 2010. Volumes increased for APL during the third quarter by...
2011-11-01 08:09:01
MR ordering spree [Shipbuilding]
Unisea Shipping and Pemex get revealed to have ordered a number of MR PC's in South Korea. Greek shipowner Unisea Shipping was reported to have ordered four 52,000 dwt tankers at Hyundai Mipo Dockyard, with options for another three. Mexican st...
2011-11-01 08:01:26
Mitsubishi faces '0' profit [Finance]
Mitsubishi Heavy Industries estimates '0' operating profit in shipbuilding division for financial 2011. Ship orders signed in the first half of 2011 amounted to JPY 24.8Bn ($317.5m). This compares with JPY 46.2bn for the same period in 2010. ...
2011-11-01 07:55:28
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