ASRY builds power barges [Offshore]
Asry is in a joint project with UK technology firm Centrax to design and build power barges. Bahrain-based Arab Shipbuilding and Repair Yard has teamed up with a UK-based power technology outfit, Centrax, to design and sell power barges. With t...
2011-09-27 07:44:54
Yangzijiang Promising [Equipment]
AmFraser slaps a buy tag on Yangzijiang Shipbuilding, expecting the Chinese yard will rack up a record profit during the next three years. Analyst Lee Yue Jer says the fact the Singapore-listed yard beat Korean rivals to a series of 10,000-teu ve...
2011-09-27 07:40:54
NOCC lose Hyundai PCC option [Shipping]
Oslo-listed Norwegian Car Carriers has decided against ordering a new ship from Hyundai Heavy Industries. The shipowner’s option was for 6,400-ceu vessel to be built by the Korean yard. NOCC currently has a 13-strong fleet with an additiona...
2011-09-27 07:38:04
KLC rehabilitation plan rejected [Finance]
Korea Line Corp’s restructuring plan was rejected. KLC now plans to sit down with its lenders again next month before a second blueprint can be submitted to the Korean courts. KLC had announced plans to cut debt by KRW 375.2bn ($358m) and u...
2011-09-27 07:31:11
VLCC value under $100m [General]
Prices for VLCC newbuildings have dropped below $100m. Clarksons now values a 310,000-dwt VLCC resale at $98m, down from $108m at the end of 2010. It is the first time since the winter of 2009 that Clarksons has quoted values for the tankers u...
2011-09-27 07:26:24
Croatian yards cut capacity [General]
Croatia’s troubled shipyard sector has moved one step closer to embracing a post-EU membership market. According to local media reports, the shipyards will have to limit their shipbuilding activities by around a fifth from their current level. ...
2011-09-27 07:22:48
Big3 share Offshore plant [Offshore]
South Korea’s large shipbuilders are set to secure a batch of offshore and LNG newbuilding orders which will help them ride out a slump in the tanker and bulker markets, Citi says. Analyst Ethan Kim tips Korea’s leading yards to share contrac...
2011-09-27 07:19:37
VLGC rates new highs [Shipping]
Growing volumes of LPG cargoes are heading to Europe rather than Asia, keeping VLGCs on the water for longer and helping to push LPG shipping rates to fresh highs. The number of available vessels on the spot market is being reduced by greater voya...
2011-09-27 07:15:15
Hyundai Samho wins 6,700TEUs [Shipbuilding]
Hyundai Samho Heavy Industries has won a pair of 6,700TEU containerships from Greek shipowner. Technomar Shipping has placed options for the two newbuildings attached to a two-ship contract signed in July. They are due for delivery in March and...
2011-09-27 07:11:43
Cape demand low [Shipping]
Rising iron ore inventories in Asia may stifle demand for capesize bulkers. Michael Pak, equity analyst at Clarkson Capital Markets, says stockpiles at Chinese ports appear “sufficient” at 94 million tonnes- a figure that may be indicative of ...
2011-09-27 07:06:28
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