Hyundai inks drillship duo [Offshore]
Hyundai Heavy Industires inked another pair of drillships in the US. The South Korean shipbuilder announced on June 1st that it signed a $1.12bn contract to build two drillships with US drilling company Rowan in Houston on May 31st. The duo are...
2011-06-01 12:13:42
ABS' sweeping management changes [General]
A sweeping series of management appointments at ABS, effective July 1, will position a new generation of executives that, says, the classification society "will help define the role and scope of class in the future." These moves closely follow the ap...
2011-06-01 08:16:19
Hariyana Ship Breakers rises [Finance]
India's Hariyana Ship Breakers Limited has announced the financial results for the period ended March 31st 2011. The company has reported net sales from operations of INR 134.15 crores for the quarter ended March 31st 2011 as compared to INR 25.9...
2011-06-01 08:12:13
Containerships still the focus [Shipbuilding]
Growth is still evident in the boxship newbuilding activity, as was the case in the previous week. According to the latest weekly report from Golden Destiny, despite the significant slowdown of business during the last days in the dry bulk sector,...
2011-06-01 08:09:34
Bulker scrapping prices soften [General]
Bulk carrier demolition rates across south Asia are set to fall below the $500 per ldt barrier this week. Buying inquiry from breakers on the Indian subcontinent is slowing down, which will not be good news for shipowners hoping to capitalise on h...
2011-06-01 08:02:09
KG house funds newbuild [Finance]
German shipowner Oltmann has teamed up with KG house HCI Capital to find investors for its five-year-old 3,100 teu containership JPO Leo. The vessel is already in operation and has financing arranged. A KG fund issued by HCI will take over the sh...
2011-06-01 07:58:07
Turkish & Dutch get lifeline [Equipment]
Turkey’s shipbuilding industry and Dutch marine equipment companies will receive the support of the Dutch and Turkish governments. According to Turkish shipping sources in Istanbul, the initiative is aimed at upgrading Turkey’s ageing coastal ...
2011-06-01 07:51:16
Golar LNG swings to profit [Shipping]
Golar LNG saw its first quarter earnings rise back into the black by higher tanker rates. The John Fredriksen-controlled company said performance is likely to continue in that direction thanks to the explosion in global LNG demand. Golar LNG ...
2011-06-01 07:44:45
NOCC eyes more PCC order [Shipping]
Norwegian Car Carriers reported soaring profit in the first quarter 2011 as world car sales rebounded strongly. But the Oslo-listed company said the recent earthquake and tsunami put the brakes on car sales out of Japan and ships are idling off t...
2011-06-01 07:42:00
Besiktas wins five tankers [Shipbuilding]
Turkey's Besiktas Shipyard has won an order for five more tankers of the 4th Armada series (project RST22M) from Palmali, Palmali Vice President Rauf Aliyev revealed. Thus, Palmali newbuilds number increased to 15 vessels. The ships are scheduled ...
2011-06-01 07:34:18
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