Canada yards win gov't backing [Finance]
Seaspan Marine will get a government cash windfall if it wins either of Canada’s two huge federal newbuilding contracts on offer. Seaspan’s Vancouver Shipyards submitted one of three separate bids for a pair of multi-billion dollar shipbuildi...
2011-07-27 07:06:11
Nam Cheong wins AHTS [General]
Malaysian offshore support vessel builder Nam Cheong has sold three of the nine anchor handling tug supply vessels (AHTS) it currently has under construction. The Singapore-listed outfit said it would net $38m (SGD46m) from the sale of the trio t...
2011-07-27 07:01:17
CSDC on $600m bond sale [Finance]
China Shipping Development Co has been approved for a $600m bond sale. Chinese regulators have signed off the six-year convertible issue. CSDC, which first announced the CNY 3.95bn ($597.95m) move in January, will use the cash to help pay for...
2011-07-27 06:57:35
DryShips acquires OceanFreight [Shipping]
DryShips has swooped on fellow Greek dry bulk shipping specialist OceanFreight in a cash-and-stock deal worth around $239m. The agreement will see George Economou-led DryShips taking control of Anthony Kandylidis-led OceanFreight's six ships thro...
2011-07-27 06:52:06
HMD wage settlement signing [General]
South Korea's Hyundai Mipo Dockyard completed settlement of wage agreement for 15 consecutive years on July 26th. CEO Choi Won-Gil and leader of labor union Kim Won-Bae held a signing ceremony for 2011 wage agreement, under presence of representat...
2011-07-26 14:38:52
Rolls-Royce wins OSV package [Equipment]
Rolls-Royce, the global power systems company, announced an £11million order to design and equip two offshore service vessels for Italian ship owner Fratelli D’Amato. These UT 755 XL vessels will carry out operations in the offshore oil an...
2011-07-26 11:45:54
Japan LNG-fueled ship boom [Shipbuilding]
Japan's shipbuilders spur in development of next generation LNG-fueled ships. Main shipyards have already completed conceptual design, covering various vessels, like bulkers, VLCC, RORO ships, LNG carriers, etc. Some say that it would take a wh...
2011-07-26 10:49:58
China Shipbuilding Slows [Shipbuilding]
The China Association of the National Shipbuilding Industry (CANSI) reported that industrial index of China's shipbuilding-related companies above certain level has maintained over 20% of growth rate in the first half of 2011, however, increases of p...
2011-07-26 09:33:23
Petrobras Capex Plan [Finance]
Brazilian state-controlled oil major Petrobras will earmark more money for exploration and production in its five-year investment plan. The Rio de Janeiro-based company approved a $224.7 billion investment programme for the 2011-2015 period that ...
2011-07-26 07:44:14
Keppel to complete FSO conversion [Offshore]
Keppel Shipyard Ltd (Keppel Shipyard) is on track to complete the fast-track conversion of FSO Sepat, a floating production and storage (FSO) unit, for Bumi Armada Navigation Sdn Berhad (Bumi Armada). With a storage capacity of 500,000 barrels of ...
2011-07-26 07:40:38
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