Sekwang chemical tanker duo resale [Shipping]
IMO II chemical tanker pair originally ordered by Hellespont in January 2009 at Sekwang Shipbuilding in South Korea was bought by Ireland-based tanker owner Ardmore Shipping. The two 17,000 dwt newbuilding chemical tankers Ardmore purchased are be...
2011-04-29 07:56:55
Japan big three hurt [Shipping]
Fall-out from the Japanese earthquake and tsunami and languishing freight rates have led the nation’s three largest shipping lines to predict lower profits for the coming year. NYK, MOL and K-Line each warn their results for the next financial ...
2011-04-29 07:49:42
Havyard operating profit jumps [General]
Norway's Havyard Group pushed up core operating profit last year despite a fall in revenue. Havyard saw EBITDA climb to NOK 117m ($22.22m) in 2010 to beat the NOK 71m posted in the previous 12 months. Lower activity at the company’s ship te...
2011-04-29 07:43:39
Keppel Philippines' income up 23% [Finance]
Keppel Philippines Marine, Inc. grew profits by more than a fifth in 2010 from year-ago levels after selling off some assets and thus cutting back on operating costs, an annual report filed with the local bourse showed. Keppel Philippines Marine p...
2011-04-29 07:37:07
Mitsubishi excels expectations [Finance]
Mitsubishi Heavy Industries more than doubled its full year net profit, blitzing its previous forecast in the process. The Japanese shipbuilder’s net profit leaped to JPY 30.12bn ($369m) for the 2010 fiscal year to 31 March, up from JPY 14.16bn...
2011-04-29 07:33:13
Yangzijiang profit soars 63% [General]
Yangzijiang Shipbuilding (Holdings) Ltd has made a strong start to 2011 with a 63% jump in first quarter profits. Its net income for the first three months of 2011 was CNY954.6m ($147m) versus the CNY586m seen a year ago. The Singapore-listed...
2011-04-29 07:28:04
S&M yards running out of orderbook [Shipbuilding]
It is prospected that Korea's small- and medium-size shipyards will see their orderbook exhausted in two years. Yang Jong-seo, senior researcher of the Overseas Economic Research Institute of Korea Eximbank, has recently revealed, through a report...
2011-04-29 06:53:52
LNG order boom to hit $140bn [Offshore]
As newbuilding orders for LNG-related ships or offshore facilities are expected to increase, Korea's large shipbuilders are picked up as the biggest beneficiary of it. Seoul-based Shinyoung Securities disclosed yesterday that "With offshore new or...
2011-04-29 06:51:04
Shipbuilders enhance info security [Shipbuilding]
As a security issue is recently attracting considerable attention from all kinds of industries across Korea, domestic large shipyards are also entering into a state of emergency to come up with good system to enhance information security. Since th...
2011-04-29 06:47:53
NK type-approves corrosion-resistant steel [Equipment]
Japanese classification society Nippon Kaiji Kyokai (ClassNK) has issued the world’s first type approval for corrosion resistant steel to the new NSGP-1 steel manufactured by Nippon Steel Corporation’s Oita Works. The approval certifies that the ...
2011-04-28 12:51:31
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