Chengxi wins 64K BCs [Shipbuilding]
China's CSSC Chengxi Shipyard inked order for three 64,000-dwt bulkers from Jinwei of Hong Kong on Aug 3. CSSC Chengxi, cooperated with Shanghai Merchant Ship Design & Research Institute, built brand new sized bulkers which were designed on the b...
2011-08-10 16:19:17
CATIC pens 3,820TEU boxships [Shipbuilding]
China's Taizhou CATIC Shipbuilding Heavy Industry has recently won two 3,820 TEU containerships from unnamed German shipowner. These newbuildings will be classed by GL and will have a length of 228m, a breadth of 37.3m and a height of 19.85m. T...
2011-08-10 15:40:08
Daewoo inks HMM 13,100TEU's [Shipbuilding]
South Korea's Hyundai Merchant Marine announced Wednesday that it has placed a newbuilding order for five 13,100-teu ultra large containerships at Daewoo Shipbuilding & Marine Engineering. The newbuildings worth around KRW 695bn ($643m) in total a...
2011-08-10 12:06:39
Hanjin "Never gives up Yongdo" [General]
"Hanjin will never give up Yongdo shipyard and leave it." Jo Nam-Ho (pictured), chairman of South Korea's Hanjin Heavy Industries & Construction, announced his appeal which includes a plan to support retired employees and normalizing operations on...
2011-08-10 11:50:06
IHI eyes profit [Finance]
Japan's IHI Corporation maintained shipbuilding & offshore plant divisions' forecasts of operating profit from 2011 fiscal year to JPY 10bn ($130m). It plans to make up profit drops due to strong yen by improving profitability. IHI predicted JPY 1...
2011-08-10 10:52:22
Mitsui plummets 73% [Finance]
Japan's Mitsui Engineering & Shipbuilding (MES) announced its Apr - Jun 2011 business performance on consolidated basis. Shipbuilding division showed turnover to drop by 11% to JPY 74bn ($960m ) and operating profit to down by 73% to JPY 1.8bn from t...
2011-08-10 10:16:37
USC to win nuclear-powered icebreakers [Offshore]
Russia's United Shipbuilding Corporation will most likely be awarded a contract for nuclear-powered icebreakers, the Minister of Transport said. According to Transport Minister Igor Levitin (pictured), the Russian Government has set aside for 201...
2011-08-10 07:38:54
Newbuilding orders continue [Shipbuilding]
Attractive prices, coupled with long-term prospects in freight markets usher ship owners to continue investing in newbuildings. According to the latest report from Golden Destiny, “in the newbuilding market, more business came to light this week...
2011-08-10 07:34:54
VLGC rates at 3-year high [Shipping]
The cost of shipping Middle Eastern liquefied petroleum gas to Asia on the spot market has broken the $70 per tonne barrier for the first time in three years. The fixture that set the new market level involved German LPG trading company Mabanaft c...
2011-08-10 07:25:00
Essar bullish on STX newbuilds [Shipping]
Indian owner Essar Shipping said it was confident that it could fix six 106,661 dwt bulk carriers it will take delivery of next month, saying talks were “in process”. Essar Shipping managing director AR Ramakrishnan said that there were plenty...
2011-08-10 07:21:47
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