KG Funds Down [Finance]
KG funds, a core part of German investment in shipping, are seeing little appetite for new investment. Funds collected in the first quarter amounted to €104m ($149m) of new money, a considerable drop over the same quarter last year, which saw ...
2011-07-26 06:43:01
Sinokor buys DryShips bulkers [Shipping]
Sinokor of South Korea has been tipped as one of the buyers involved in the recent sale of four DryShips bulkers. Sources say the diversified owner paid $17m to scoop up the 151,066-dwt Brisbane (built 1995) and another $18m on the 150,393-dwt Sa...
2011-07-26 06:39:21
Aker Phil wins aframax duo [Shipbuilding]
SeaRiver Maritime, Inc., Houston, Tex., an affiliate of ExxonMobil, has signed a letter of intent (LOI) with Aker Philadelphia Shipyard, Philadelphia, Pa., to build two U.S. flag, 115,000 dwt Aframax size crude oil tankers. The LOI is expected to...
2011-07-26 06:35:08
Big 3 patents double [Shipbuilding]
South Korean shipbuilding Big 3's patent applications in H1, 2011 doubled on the same period from 2010. According to data by the Korean Intellectual Property Office, Big 3's patent applications totaled 1,547 during Jan - June, 2011, doubled the sa...
2011-07-25 16:14:48
Hyundai 'Top Pick' [Finance]
South Korea's Hyundai Heavy Industries is said to be the most attractive among Korean shipbuilders' stocks, which is ironic, considering its earnings shock in Q2. Researcher Choi Kwang-Sik from LIG Investment and Securities reported investment re...
2011-07-25 12:51:30
Chinese new shipbuilding standards [General]
Ministry of Industry and Information Technology of the People's Republic of China (MIIT) is scheduled to officially enforce newly ratified industry standards from October 1st. In clause 109, Shipbuilding Engineering standard is included. Shipbuild...
2011-07-25 10:41:59
STX vice president K-F ECC chairman [General]
The Federation of Korean Industries announced that STX Offshore & Shipbuilding vice president, Lee In-Sung was elected as a chairman of Korea-Finland Economic Cooperation Committee (K-F ECC) on July 24th. Since established in September 9th, 1977, ...
2011-07-25 10:15:01
Korean shipyards summer vacation [General]
South Korea's shipbuilding and heavy industry will have a long summer vacation, when hot weather reduces productivity. Most of those who work in Hyundai Heavy Industries go on a vacation until August 5th. Officially it is 10-day leave, however, ...
2011-07-25 09:44:37
Shell & Chevron to order gas platform [Offshore]
Shell and Chevron are reportedly on the verge of inking a huge $1bn deal for a newbuild gas platform for a large scale project off the Philippines. Expansion of production capacity at the Malampaya field off the centre of the island nation will a...
2011-07-25 07:52:17
Shell into Abadi LNG-FPSO [Offshore]
Japanese operator Inpex has sold a 30% stake in the Abadi floating liquefied natural gas project off Indonesia to Shell. The Abadi gas field, in the Masela block, will be developed using an FLNG solution, with an annual production rate of 2.5 mil...
2011-07-25 07:49:52
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