Maersk hurt smaller rivals [Shipping]
Maersk Line’s new daily Asia Europe service may force smaller firms out of the trade. Analyst Rigan Wong at Citi says the introduction of Maersk Daily is a negative game changer which will depress rates and erode the market share for others. ...
2011-09-15 07:04:13
Prosafe wins offshore accommodation [Offshore]
Prosafe secures an eight-month contract for one of its offshore accommodation rigs. The Oslo-listed contractor says the Safe Caledonia (built 1992) will squeeze $74m out of the deal with Nexen Petroleum UK. According to exchange filings, the ...
2011-09-15 06:59:56
Frontline scrapping binge [General]
Frontline’s disposal of its final three single-skin VLCCs is just the start of a scrapping of its older ships. Oslo-listed Frontline revealed it will pocket $26.2m in compensation after saying farewell to three 1990s built VLCCs. Erik Nikol...
2011-09-15 06:57:04
Chinese in Post-Crisis [Shipbuilding]
Liu Ming Kang, president of China Banking Regulatory Commission, recently said when the global financial crisis occurred three years ago Chinese shipbuilders had an orderbook of three-year workload, however, now they are in a crisis with not much imp...
2011-09-15 06:37:25
LNG Pie Getting Bigger [Shipbuilding]
South Korean shipbuilders seem to benefit from currently expanded worldwide insecurities in nuclear power plants. Sources said on Sep 12 that due to explosions of nuclear wastes dump sites in France, alternative energy market, such as LNG, etc., a...
2011-09-15 06:31:56
LNG carrier over-ordered [General]
Daishin Securities of South Korea forecasts on Sep 14 that shipbuilders of Korea would have a lower newbuilding order for LNG carriers in 2012. Researcher Jeon Jae-Chun from Daishin said, "In recent three years, LNG carrier's new order was no more...
2011-09-14 11:56:08
Integrated A/S for Marine Equip [Equipment]
South Korea's marine equipment manufacturers plan to build an integrated after-sales service system for local vessels. In the past, ships built in Korea had to get an after-sales service by shipowners making inquiries to marine equipment manufacturer...
2011-09-14 11:27:39
Kawasaki builds 58K BC consecutively [Shipbuilding]
Japan's Kawasaki Heavy Industries' Kobe shipyard is to focus on successive builds of handymax bulkers henceforth. This is because handymax is the best fitted in Kobe yard. The yard completed facility investment by the end of last year and plans to...
2011-09-14 10:40:27
Marine improve in Q4 [General]
Major shipbuilders have revived, sweeping over high-value newbuilding market, however, shipping players have been in trouble by high oil prices and lower freight charges in this year. Market experts forecast shipping and shipbuilding industries wo...
2011-09-14 10:06:47
New repairyard for Cochin [General]
India's Cochin Port Trust (CPT) plans to construct a new shiprepair yard at Vallarpadam. The site will be a disused waterfront on Willingdon Island, it said. Cochin wants to tap opportunities created by the commissioning of Vallarpadam Transs...
2011-09-14 07:32:42
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