BC deliveries highest ever [Shipping]
Deliveries of new dry bulk ships are on course to reach their highest level ever this year and fleet expansion is expected to remain strong in 2012, ship broker SSY said on Wednesday, Reuters reports. Despite a recent rally on the larger capesize...
2011-10-28 07:56:51
Vinashin BC on auction block [General]
A Chinese court has ordered the forced sale of a Vinashin bulker to pay off creditors. The 65,000-dwt Vietnamese vessel New Phoenix (built 1985) was arrested in Qingdao in August at the request of GMS Marine. The Qingdao Maritime Court said on Th...
2011-10-28 07:54:54
ZPMC posts 3Q profit [Equipment]
Shanghai-quoted Shanghai Zhenhua Heavy Industries (ZPMC) has posted a CNY 71.6m ($11.3m) profit. It is a wholly-owned subsidiary of government-controlled China Communication Construction Company (CCCC). ZPMC is the world's largest manufacture...
2011-10-28 07:50:03
GSI profit plunges 45% [Shipbuilding]
Guangzhou Shipyard International, the Hong Kong-quoted shipbuilder, has reported a 45% fall in income. Its third quarter profit was down at CNY 145m ($22.8m). So far this year, the company has posted a profit of CNY 409m compared with CNY 605...
2011-10-28 07:47:35
OSX secures $850m loan [Offshore]
OSX Brasil has secured an $850m loan that will be used to build and install the second of its floating production, storage and offloading vessel (FPSO) newbuildings. The shipbuilding and offshore storage wing of Eike Batista’s EBX group says th...
2011-10-28 07:40:26
CSSC profit down 28% [Finance]
CSSC, China's one of two largest conglomerate of shipyards, announced Wednesday that its third quarter profit decreased by 28% y-o-y to CNY 557m. Profit in the nine months to September also fell by 9.1% to CNY 1.84bn with operating income down by ...
2011-10-28 07:38:21
CSIC earnings drop 15% [Finance]
China's one of two largest conglomerate of shipyards has announced a 15% fall in profit from a year ago. Shanghai-quoted China Shipbuilding Industry Corporation (CSIC) posted a third quarter profit of CNY 1.03bn ($162m). This compares with CNY 1....
2011-10-28 07:33:05
BC scrapping highest [General]
Oslo-based shipbroker Lorentzen & Stemoco reports that nearly 300 bulkers have been withdrawn from the market so far in 2011. Total deadweight is 19.6m tonnes, the largest figure on record. The broker estimates that the final annual number wi...
2011-10-28 07:29:50
STX mulls sale of STX OSV [Offshore]
South Korea's STX Group is considering selling a 50.7 percent stake its European unit STX Europe holds in STX OSV Holdings, a Singapore-listed offshore vessel builder, a deal expected to top KRW 500 billion won ($442 million). If management right...
2011-10-28 07:26:38
Hyundai profit falls 30% [Finance]
Hyundai Heavy Industries (HHI) has posted a 30% drop in third quarter profit despite higher revenue. The world’s biggest shipbuilding company said net earnings in the period were KRW 432.8bn ($388m). Operating profit also fell 36% to KRW 537.7b...
2011-10-28 07:20:02
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