VLCC needs lay-up & slow steaming [Shipping]
VLCC owners should consider laying up ships and slow steaming en mass if they are to ride out the downturn, Clarksons says. In May VLCC spot rates slipped to an average of just $14,438 daily and the market will need to decline further before scra...
2011-06-27 07:11:05
Cochin workers end strike [General]
Contract workers at Cochin Shipyard in India have called off a 20-day strike over wages. A deal appears to have been struck with managers on Thursday, but no details have emerged. Talks had taken place this week between the two sides and ended...
2011-06-27 07:06:55
Fredriksen raises newbuild fund [Finance]
John Fredriksen’s Knightsbridge Tankers cleared the way for a colossal public fundraiser Friday after filing a $200m shelf registration with the US Securities & Exchange Commission (SEC). The Nasdaq-listed tanker and bulker owner’s preliminary...
2011-06-27 07:04:34
Offshore localization 'Too Low' [Offshore]
South Korean shipbuilders have raked in orders for offshore plants like drillships and FPSOs worth $18bn so far this year but they rely too much on foreign core equipments for the plants like drilling systems. Industry players point out that home ...
2011-06-27 06:56:20
Daewoo union ready for strike [General]
Daewoo Shipbuilding & Marine Engineering's labor union is planning a strike. On June 23rd and 24th, Daewoo Shipbuilding Workers Union voted on actions taken in a labor dispute, and passed it by 93.8% approval. Daewoo Shipbuilding Workers Union ...
2011-06-27 06:42:35
Mitsubishi wins VLGC [Shipbuilding]
Japan's Mitsubishi Heavy Industries has scored a VLGC newbuilding order from a local company. Japan's largest LPG player Astomos Energy announced on 23rd that it has booked the very large LPG carrier at Mitsubishi. The newbuilding is set for de...
2011-06-27 06:28:11
Hyundai Samho inks 4,500TEU's [Shipbuilding]
South Korea's Hyundai Samho Heavy Industries won an order for 4,500-teu newbuilding trio. HI Investment & Securities booked the vessels and two of the three ships were already financed through a local ship fund. The boxships will be constructed at...
2011-06-27 06:22:20
Daewoo extends drillship option [Offshore]
Aker Drilling, through its subsidiary Aker Drilling Offshore Services Public Ltd., has agreed with Daewoo Shipbuilding and Marine Engineering Co. Ltd. an extension to the time limit for declaring its first optional drillship from end of June 2011 to ...
2011-06-27 06:13:37
Sinopacific in PSV order spree [Offshore]
China's Sinopacific Shipbuilding Group has won an order for a series of platform supply vessels worth up to $456m from John Fredriksen's Seatankers. The owner has booked four firm PSVs at the Chinese yard and industry sources say the deal includes...
2011-06-24 14:57:07
Greek top order tally in May [Shipping]
Greek shipowners spent $1.7bn on newbuildings last month and topped the tally. According to Clkarson Research Services, in January-May, they invested $5.3bn in new ship orders. About 85% of the total orders were placed in April and May and if the ...
2011-06-24 14:43:39
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