Gulf Nav to order VLCCs [Shipbuilding]
Dubai-listed Gulf Navigation is looking to order a couple of VLCC newbuildings in China. It is making efforts to set up a new VLCC joint-venture in Saudi Arabia, it tells investors, and “significant steps” have been taken to establish the Saud...
2011-08-16 06:40:56
Who's Hyundai's steady customer? [Shipbuilding]
South Korea's Hyundai Heavy Industries had won the largest number of orders from shipowners in Germany and Greece. Having delivered its first ship in June 1974, Hyundai has maintained world No.1 shipbuilder in terms of handover totaling 1,670 vess...
2011-08-16 06:18:28
Yards eye ripple effect of US shock [Finance]
South Korea's Shipbuilding industry is forecast not to be influenced much by U.S. credit shock. Industry says that downgrade of U.S. sovereign debt rating has confused world economies, however, there would be no direct effect on newbuilding order....
2011-08-16 06:13:11
Steel plate ignites dumping conflict [General]
Japanese steel manufacturers' recent dumping sales cause conflict between steel industries in South Korea and Japan. Korean steel makers raised a point about Japan's lower exporting price of thick plate than selling price in Japan. Some sources...
2011-08-16 06:07:31
Otto pens LOI for cancelled AHTS [Offshore]
Singapore-based shipbuilder Otto Marine said it had signed a Letter of Intent with an unnamed suitor for an anchor handling tug supply vessel the Deep Sea 1 cancelled by Norway's Mosvold. Otto is set to bank $90m for a vessel originally supposed ...
2011-08-12 12:33:23
Sungdong inks 82K BC's [Shipbuilding]
South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering has won an order for two kamsarmax bulkers. South Korea's Mirae Asset Securities and Global Marine Finances announced on Aug 12 to have struck hands with Cargill of the US, an int...
2011-08-12 11:40:21
Catic wins 3,800TEU's [Shipbuilding]
Carsten Rehder of Germany has inked a deal worth up to $200m for up to four wide-beam containerships to be chartered to German liner operator Hamburg Sud. A firm order for two 3,800-teu newbuildings has been placed with China’s Taizhou Catic Sh...
2011-08-12 10:48:10
Sungdong liquidity injection delayed [Finance]
Sungdong Shipbuilding & Marine Engineering's creditors, including the Export-Import Bank of Korea (Korea Eximbank) put off emergency funding for Sungdong. Even Sungdong needs immediate finance about KRW 150bn - 200bn ($140m-186m), there would be n...
2011-08-12 10:36:32
Chengxi inks 64K BCs [Equipment]
Goldwin Shipping of Hong Kong has booked up to three bulker newbuildings at CSSC Chengxi Shipyard early this month. The low-profile company, also known as Jinwei Shipping, has inked one 64,000-dwt vessel at the state-owned shipbuilder with an opt...
2011-08-12 10:36:14
NRS - GL cooperation [General]
Germany's Norddeutsche Reederei H. Schuldt (NRS) and Germanischer Lloyd (GL) signed a global cooperation agreement on Aug 11 covering all areas of classification as well as flag state supervision of the ships of NRS sailing under GL class. As one of ...
2011-08-12 09:55:55
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