Vinashin blow for bondholders [Finance]
Struggling Vinashin is on collision course with its bondholders after offering to pay back only 10% of a $1.45bn bond breached in April. Sabeco Fund Management, which is owed $1.5m by the Vietnamese yard, has been told it will not get any of its ...
2011-06-03 07:46:55
Aker Phil secures $80m ship loans [Finance]
Aker Philadelphia Shipyard’s speculative newbuilding programme appears to be back on track after securing $80m worth of loans in a bid to build two products tankers. In a filing with exchange authorities, the Philadelphia, Pennsylvania-based con...
2011-06-03 07:43:59
K Line-idled PCCs return [Shipping]
Kawasaki Kisen Kaisha (K Line) will take four car carriers out of lay-up sooner than expected. The diversified Japanese shipowner will bring two ships back into market this month having originally penciled them in for an October return. Two more ...
2011-06-03 07:40:46
NOL wins boxship financing [Finance]
Singapore's Neptune Orient Lines (NOL) has tied up a $1.1bn debt financing deal that paves the way for its fleet expansion. It means that NOL has the funds to cover 14 containership newbuildings ordered in 2007 and 2010. The largely state-own...
2011-06-03 07:35:26
Sungdong eyes $5bn orders [Shipbuilding]
Sungdong Shipbuilding & Marine Engineering has upped its annual order target as it enters the high-value offshore facility market this year. The South Korean shipbuilder of middle standing has inked new orders for 33 ships and offshore facilities ...
2011-06-03 07:30:49
Daewoo sits on LNG boom [Offshore]
Amid rapid recovery in LNG carrier newbuilding market, Daewoo Shipbuilding & Marine Engineering is rising as it is to win large LNG carrier newbuilding orders. The South Korean shipbuilder recently won two plus two optional 155,900-cbm LNG carrier...
2011-06-03 07:15:42
Big3 to surpass target [Shipbuilding]
A surge in orders for high value-added vessels such as offshore facilities and LNG carriers has South Korea’s leading shipyards on course to easily top their annual order targets. Hyundai Heavy Industries won a $1.1bn drillship deal this week t...
2011-06-03 06:55:34
Torm offloads LR II PC [Shipping]
Torm has sealed a sale & leaseback deal for a products carrier as it seeks to boost its cash position. The Copenhagen-listed tanker and bulker owner will net $46m from the sale of the 109,000-dwt Torm Margrethe (built 2006) to First Ship Lease Tr...
2011-06-02 02:57:27
Eisa to win Transpetro PCs [Shipbuilding]
Brazilian shipyard Estaleiro Ilha SA (Eisa) appears to have beaten out compatriot yard Estaleiro Maua (Maua) in a battle to build eight product tankers for state-controlled tanker giant Transpetro. A source inside the transport arm of Rio de Jane...
2011-06-02 02:53:41
Nordic undocks ice-class tanker [Shipbuilding]
The special tanker built by Nordic Yards for the Russian mining company Norilsk Nickel left the dock in Wismar on May 31st. The icebreaking Arctic Tanker “Nordic AT 19" was commissioned by Norilsk Nickel, one of the ten largest companies in Rus...
2011-06-02 02:49:18
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