2011-built VLCCs anchored [Shipping]
BW Group tied up two new VLCCs off Malaysia amid suggestions the vessels will be laid-up. Its 320,000-dwt BW Lotus and BW Peony (both built 2011) have been anchored off Malaysia for nearly two months. BW is refusing to comment on whether the ...
2011-09-29 07:18:01
Rongsheng expands fast [Finance]
China's Rongsheng Heavy Industries sits on a huge expansion war-chest after secureing a loan worth CNY 35bn ($5.5bn) Wednesday. China Development Bank is providing the funds which add to facilities worth more than $6bn the shipbuilder had already...
2011-09-29 07:13:00
IEA sees LNG uncertainty [Shipping]
Beyond 2015 LNG market faces ‘great uncertainty’ due to project delays and rising gas prices. Global gas supply and demand balance will remain healthy until 2015, supporting the LNG shipping market, but beyond that date the gas market balance ...
2011-09-29 07:09:48
Sense of Crisis Widespreading [Shipbuilding]
Clouds of crisis are gathered in South Korea's shipbuilding industry to fall down again by economic recession in Europe and US, which recovered centering around major shipbuilders after global financial crisis in 2008. If European owners' tight sh...
2011-09-29 06:45:26
Arctic 'Blue Ocean' [Shipbuilding]
The Arctic is rising as a new market with full of oil and gas resources to shipbuilding industry. According to a recent report by Visiongain on oil and gas exploration and production market in the Arctic, the market would total $11.93bn this year....
2011-09-29 06:39:55
GL tops 100m gt [General]
GL celebrated the 100m gt mark with its fleet in service. Germanischer Lloyd has currently more than 7,200 ships from over 1,900 shipping companies worldwide under regular technical supervision. Topping 100 million GT means that GL has been able ...
2011-09-28 14:56:11
Indian take-off [Shipbuilding]
Pipavav Defence & Offshore Engineering of India is known to concentrate on its business expansion. Pipavav secured a cooperation with state-owned Mazagon Docks and prepared for export-newbuilds with renovating yard on west coast of India, INR 13bn...
2011-09-28 11:19:44
Japan ready to counterattack [Offshore]
Japanese major shipbuilders are moving briskly forward on demand-boosted offshore business. IHIMU is now actively promoting its sales of LNG-FPSO and LNG-FSRU and Universal Shipbuilding Corporation seeks to enlarge into offshore division, starting...
2011-09-28 10:26:53
Cape rally starts? [Shipping]
Jefferies & Co challenges the over-supply thesis for the capesize segment following an autumn rally in rates. Capesize earnings have tripled since the start of August to help dry-bulk become the only profitable commercial shipping sector, with bo...
2011-09-28 08:15:51
Dongfang issues new shares [Finance]
London-listed Dongfang Shipbuilding (AIM: DFS) has raised £1.8m ($2.79m) by means of a placing of 4,767,711 new ordinary shares in the Company at 38p (£0.38) per share ("the Placing Shares") with a single investor, representing 2.45 per c...
2011-09-28 08:09:29
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