SCI limit orders for local yards [Equipment]
India's state-owned shipping company Shipping Corp of India (SCI) cools down expectations that it will alter its newbuilding plans to meet demands to boost domestic yards. The owner says it is prepared to reserve orders for smaller vessels at hom...
2011-09-20 07:25:37
Flex near LNG-FPSO 'FID' [Offshore]
Flex LNG chief executive Philip Fjeld said his company is on track to reach Final Investment Decision (FID) on its Floating LNG (FLNG) production (LNG-FPSO) project in Papua New Guinea. Once FID is achieved, the project should start operating in t...
2011-09-20 07:19:04
Korea nets $38bn orders [Finance]
South Korean shipbuilders have signed newbuilding contracts worth almost four-fold more than those secured by Chinese rivals in 2011, Clarksons says. China has bagged deals valued at $10.3bn in the first eight months of the year, compared with th...
2011-09-20 07:07:49
STX back out of Hynix [Finance]
STX Offshore & Shipbuilding of South Korea decided to stop its push for purchasing Hynix Semiconductor, despite its completion of seven-week due diligence. Several circumstances caused STX' stoppage of Hynix-takeover. Officials from STX said that ...
2011-09-20 06:38:40
Chengzhou inks PC duo [Shipbuilding]
China's Zhejiang Chengzhou Shipbuilding has won an order for two small products carriers (PC) from Panoil Tankers of Singapore. The shipowning arm of bunker supplier Panoil Petroleum has signed up for a pair of 4,800-dwt vessels at Zhejiang Chengz...
2011-09-20 06:29:58
Sungdong 'Hard Revamp' [Finance]
Sungdong Shipbuilding & Marine Engineering is bracing itself for a hard restructuring as rehabilitation procedures started in earnest. The South Korean shipbuilder's creditor group injected KRW 100bn ($88m) in Sungdong on Sept. 9th and is to provi...
2011-09-20 06:27:47
Steel industry oversupplied [Equipment]
Shrinking steel demand by prolonged global financial crisis causes its oversupply. Marine thick plates' inventory rapidly going up, South Korea's major steel makers seem difficult to price increase by this year regardless of its cost burden. Ac...
2011-09-19 12:06:27
Japan newbuild permits grow [Shipbuilding]
Japan's newbuild permit during Apr-June period in 2011, figured by Ministry of Land, Infrastructure, Transport and Tourism, increased to 92 ships, 4.05 GT by 70,000 GT on the same period last year. Three domestic ships, including one PC and two Ro...
2011-09-19 11:05:07
Korean stock 'oversold' [Finance]
Deutsche Bank estimated on Sep 19 that South Korea's shipbuilding stock faces an excessive selling. An analyst of Deutsche Bank said, "Shipbuilding stock price decreased 40% on the highest point, in average, being afraid of lessening new order by som...
2011-09-19 10:29:46
STX Dalian inks 2,000TEU's [Shipbuilding]
STX Dalian, a subsidiary of STX Offshore & Shipbuilding of South Korea won newbuilding orders for 2+6 vessels of 2,000 teu containerships from Sea Consortium (SEACON) of Singapore, with a total of $240m of newbuilding price. The vessels, 172m in l...
2011-09-19 09:14:00
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