Norden to swoop on bulkers [General]
Norden is keeping a close eye on dry-cargo asset prices in a bid to boost its bulker fleet, its CEO says. Carsten Mortensen explains the company is open to investing in bulkers despite the difficult market. He said: “The business has always...
2011-08-17 06:45:11
Conrad up in Q2 [General]
US shipbuilder Conrad Industries' bottom line grew by 30% in the second-quarter. The Louisiana-based yard syndicate, whose shares trade on over-the-counter, banked $5.2m in the three months to 30 June versus a $3.6m gain posted year prior. Wh...
2011-08-17 06:40:53
Cape price nightmare [Shipping]
Capesize bulker values have come under the gun in an increasingly turbulent market. Reports of a Japanese-built resale changing hands at a 15% reduction from current levels ignited industry buzz, prompting speculation that players in the sale-and-...
2011-08-17 06:38:02
Dong Fang lists on London AIM [Finance]
China Dong Fang Shipbuilding will list on the AIM market Thursday in a bid to boost its European profile. The Chinese firm will not initially raise new funds through the listing, although finance director AKM Ismail said this will be a considerati...
2011-08-17 06:32:53
HMD Q2 profit halved [Shipbuilding]
On Aug 16th, Hyundai Mipo Dockyard of South Korea announced operating profit in Q2 to drop by 46.7% to KRW 113.1bn ($105.5m) on K-IFRS (Korean International Financial Reporting Standards) consolidated basis from the same period last year. During A...
2011-08-17 06:08:38
Big3 ready for deep-sea [Offshore]
Market forecast on deep-sea resource development sector seems optimistic. Infield Systems, a British provider of analysis to oil, gas, marine industry, predicted on Aug 16 that investment on exploration and development seems to exceed $94bn by 201...
2011-08-16 11:50:34
Japan plans overseas maritime cluster [Equipment]
Under circumstances of prolonged strong yen and intensified competition with Korea and China, Japanese shipyards knuckle down to build an industrial complex overseas in cooperation with marine equipment manufacturers of Japan. This plan has been s...
2011-08-16 11:10:00
CSIC Wuchang builds joint-venture yard [General]
China's CSIC Wuchang Shipbuilding Industry and Wuhan Iron & Steel (WISCO) have signed for cooperative relations on Aug 10. They agreed to establish a joint-venture company, Wuhan Shuangliu Wuchuan Heavy Industries and construct a specialship yard in ...
2011-08-16 10:16:02
Delays in bulker newbuildings [Shipping]
STX Pan Ocean noted that the widening financing difficulties faced by greenfield shipyards may delay the scheduled newbuilding deliveries and alleviate the overcapacity situation in the dry bulk market. Earnings in the dry bulk market have suffer...
2011-08-16 07:19:44
Daewoo invests in Daewoo-Mangalia [Finance]
South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) is to increase its investment in Romania. It is the majority shareholder in the Daewoo-Mangalia Heavy Industries. The other shareholder is the Romanian state. For its share of ...
2011-08-16 07:17:37
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