“PC tankers will boom again” [Shipping]
The Mirae Asset Securities on May 4 designates the STX Offshore & Shipbuilding and Hyundai Mipo Dockyard as "overweight" and picked the two companies as the "one of the most recommended companies", citing that market for oil product carriers will boo...
2011-05-06 12:26:03
Samsung wins ISO/TS 29001 [Offshore]
Samsung Heavy Industries said on May 4 that it became the first shipbuilder in the industry to be certified in accordance with ISO/TS 29001 and its quality management capabilities in the offshore plant sector became recognized internationally. Th...
2011-05-06 12:17:21
Incat designs two ferries for Russian [Equipment]
Incat Crowther has signed an agreement with Russian shipbuilder Pacifico Marine of Vladivostok for two catamaran ferry projects. The companies have formed a relationship that sees the design company assist Pacifico Marine to serve the Russian mar...
2011-05-06 08:15:13
Wartsila solutions for LNG powered PSV [Equipment]
Wärtsilä, the marine industry's leading solutions provider, has been contracted by Kleven Maritime of Norway to design a new LNG powered Platform Supply Vessel (PSV) of the Norwegian operator Rem Offshore. The scope of the order also in...
2011-05-06 08:11:32
Rig market getting tighter [Offshore]
Transocean sees better demand for its most capable rigs and those working in the mid-water market, while the standard deep-water market remains oversupplied. "As the supply tightens in both the ultra-deepwater and mid-water markets, we expect to ...
2011-05-06 08:08:33
Products sector to improve, Navios [Shipping]
Navios Maritime Acquisition Corp, the tanker offshoot of the Navios group, expects to benefit from an improved product tanker market later this year. Reporting a marginal loss for the first quarter of 2011, the Greece-based owner, which began oper...
2011-05-06 08:05:31
Danaos chief warns over-ordering [Shipping]
John Coustas expects the supply and demand equation to bode well for owners over the next two years But Danaos Corp’s top boss is urging the industry to keep an eye on the orderbook. In the New York-listed boxship operator’s first-quarter ...
2011-05-06 08:02:10
Hoegh raising LNG-FSRU cash [Finance]
Hoegh LNG is looking to raise up to $200m from a private placement ahead of a planned listing on the Oslo Stock Exchange. Hoegh said the money from the fund raising would go towards expanding its fleet of LNG-FSRUs. It recently secured a letter o...
2011-05-06 07:57:07
Vinashin debts diminish [Finance]
Vietnamese shipbuilder Vinashin has managed to cut its debts since restructuring last year. The government said the state-owned group's debt now stands at VND 63 trillion ($3.06bn), compared to VND 86.6 trillion in May 2010. Vietnam has also ...
2011-05-06 07:52:47
SBM posts less turnover [Offshore]
SBM Offshore said revenue dropped 5% to $683m in the first quarter, from $722m the year before. SBM blamed its underperforming turnkey services segment for a slow start to the year, though it expects a higher utilization rate of two of its vessel...
2011-05-06 07:48:12
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