Bergen back to profit [Finance]
Bergen Group posted a positive result in the first quarter though the company's shipbuilding business remains in the dolldrums. It recorded a NOK 3m ($0.55m) gain during the first three months after posting NOK 24m last year. But at least the...
2011-05-16 06:24:06
Namura earnings fall [Finance]
Namura Shipbuilding’s full year profit plunged by over 60%. The Japanese yard recorded a net profit of JPY 2.27bn ($28.16m) in the year to 31 March compared to last year’s JPY 6.28bn. Sales were reasonably steady but dipped by JPY 5bn to J...
2011-05-16 06:20:42
Samsung shoots 70% of target [Shipbuilding]
Samsung Heavy Industries is one step ahead of its competitors in winning new orders, by clinching an order for one Floating Production, Storage and Offloading (FPSO) unit from Teekay Petrojarl for about $636m, and an order for four vessels of 13,000T...
2011-05-13 10:41:03
MISC net earnings rise [Shipping]
Annual profit at Malaysian shipping giant MISC has been boosted by a sale of shares in a shipyard, but the fourth quarter turned red. The company, whose mixed fleet includes tankers, containerships and LNG carriers, said net earnings in the year ...
2011-05-13 07:46:32
Norden no bid for Maersk LNG [General]
LNG is presently shipping’s hot ticket but Norden has no interest in climbing on board at what some observers see as the start of a five-year boom, Norden CEO Carsten Mortensen explains. “We have not looked at that at all. We are perfectly co...
2011-05-13 07:42:13
Korean Take the Lead [Shipbuilding]
Korea's three largest shipbuilders have seen their new orders soar, almost reaching the level of the last industry boom in 2007. Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries have won a combined $2...
2011-05-13 07:38:34
Croatian yards in difficulties [Shipbuilding]
Croatia is struggling to find investors for the majority of its loss-making shipyards. In the run-up to Croatia’s deadline for EU membership, set by the government for June 23, a moratorium is in place on shipyard activity while restructuring ta...
2011-05-13 07:32:32
Korean shipping big 3 into losses [Shipping]
South Korea’s Hanjin Shipping recorded a net loss of $97m in the first three months of the year, as its container shipping business was hit by deteriorating conditions on the Asia-Europe trade lane and increased fuel and logistics costs took their ...
2011-05-13 07:26:21
Kleven wins Olympic PSV [Offshore]
Olympic Shipping contracts a new multi-purpose platform supply vessel at Kleven Maritime in Norway at a value of 380 million NOK ($69m). With this contract, Kleven Maritime's order reserve increases to 10 vessels at a combined value of 3.7 billio...
2011-05-13 07:17:03
STX Europe back to profit [Finance]
Korean-owned shipbuilder STX Europe has been boosted in the first quarter by a surge in demand for oil and gas support ships. Net profit to 31 March rose to NOK 237m, more than compensating for a loss of NOK 146m in the same three months of 2010....
2011-05-13 07:13:04
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