Drillship player files for Chapter 11 [Finance]
Brazilian offshore contractor Peregrine I LLC has filed for Chapter 11 bankruptcy protection in the US. In a petition filed with the US bankruptcy court in Delaware, Peregrine, the Cayman Island affiliate of Sao Paulo-based drillship operator Ete...
2011-04-28 07:23:58
Samho seeks court protection [Shipping]
South Korean chemical-tanker owner Samho Shipping has filed for court protection. The company’s predicament is being blamed on the collapse of the shipping markets together with activities disrupted by the seizure of two of its ships by pirates....
2011-04-28 07:17:47
Ensco & Pride to merger [Offshore]
Shareholders of New York-listed Ensco and Pride International will vote on their proposed $7.3bn merger on May 31st. The pair announced in February that London-based Ensco will takeover Pride to create the world’s second-largest offshore drilli...
2011-04-28 07:10:35
Meetings for offshore parts localization [Equipment]
Some Busan-based ship equipment suppliers in South Korea had a meeting on 26th for a topic of 'support plan for settling the current difficulties of Busan-based shipbuilding and offshore parts producers' with a government official, Cho Kyeong-tae, fr...
2011-04-28 06:36:24
CSSC banks $100m profit in Q1 [Finance]
China State Shipbuilding Corporation (CSSC) announced on 25th that its net profit for the first quarter of the year hit CNY 704m ($100m) and operating revenue came to CNY 6.767bn, increasing by 1.59% and 20.14% y-o-y respectively. According to a ...
2011-04-28 06:34:19
Hanjin to benefit from mid-boxships [Shipbuilding]
Korea's Hanjin Heavy Industries & Construction is believed to enjoy benefits from the recovery of mid-size boxship market conditions. Seoul-based IBK Investment & Securities picks up Hanjin as the biggest beneficiary of the improvement of the med...
2011-04-28 06:32:59
Koreans shriek of delight [Shipbuilding]
A number of foreign shipowners are recently looking for Korean shipyards to build newbuilds. This is because Japanese ships are too expensive due to high yen, and Chinese shipyards retain relatively less advanced technology. So the successive wave...
2011-04-28 06:31:10
Daewoo inks LOI for LNG carriers [Shipbuilding]
South Korea's Daewoo Shipbuilding & Marine Engineering is nearing to winning its first fresh LNG carrier newbuilding order this year. The shipbuilder has inked a letter of intent with Norway's Awilco to build four LNG carriers. Both parties are...
2011-04-27 15:58:12
CEOs in biz trip in May [General]
A bunch of South Korean shipbuilders' CEOs are visiting the US and Europe next month. Early next month Offshore Technology Conference 2011, one of the largest offshore technology events in the globe, is to be held in Houston, TX, and Nor-Shipping ...
2011-04-27 14:38:02
Hyundai Steel ups plate price [Equipment]
Following Posco's price hike by KRW 160,000 ($147.5) per ton on its steel products, Hyundai Steel has also decided to raise its product price by the same amount. Hyundai Steel gave notice to its customer companies on April 26th that it will raise ...
2011-04-27 08:26:16
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