China & Norway develop LNG marine engine [Equipment]
Cooperation between Guangzhou Diesel Engine Factory and the Norwegian maritime research institute Marintek has led to the development of an innovative LNG ship engine soon ready for the Chinese market. LNG eliminates sulphur emissions, significan...
2011-04-27 08:12:59
VLCC earnings hit record low [Shipping]
Earnings for very large crude carriers on the benchmark Saudi Arabia to Japan trading route have fallen to just $1,030 per day, according to the Baltic Exchange. This is the lowest level reported by the Baltic Exchange since it started recording t...
2011-04-27 08:08:20
Hanjiang Shipbuilding Park & Sinopacific invest environment ... [Shipbuilding]
A public meeting on the investment environment of the Hanjiang Shipbuilding (and Heavy Industry) Industrial Park and Sinopacific Shipbuilding Affiliated Industrial Base was held in Yangzhou on April 26th. Attending this public meeting were city g...
2011-04-27 07:59:00
Rongsheng acquires engine maker [Equipment]
China's Rongsheng Heavy Industries has snapped up compatriot engine maker Quanchai Group. Rongsheng will pay CNY 2.15bn ($330m) for Shanghai-listed Quanchai, allowing it to move into the high-speed diesel engine market. Quanchai is currently ...
2011-04-27 07:49:30
Golar LNG buys more in Golar LNG Energy [Finance]
John Fredriksen's Golar LNG has taken a firmer hold of its spin-off company Golar LNG Energy in two stock deals. The gas carrier owner has built its stake to 90.5% from 61.1% in a move it said best served its strategy for the sector. Fredriks...
2011-04-27 07:46:22
CSDC profit falls [Finance]
China Shipping Development Co has seen its first quarter profit dented by rising costs. Shanghai and Hong Kong-listed CSDC banked CNY 392.07m ($60.05m) in the first three months of 2010, down from CNY 455.89m at this stage a year ago. The tank...
2011-04-27 07:42:39
Deepsea Metro I wins work [Shipbuilding]
A joint venture led by Theodore Angelopoulos’ Metrostar has chartered out the first of its two new ultra deepwater drillships. Oil and gas producer BG Group will lease the ship for one year soon after Hyundai Heavy Industries delivers the vessel...
2011-04-27 07:39:44
KBR wins semi-submersible design [Offshore]
Houston-based KBR has won a detailed design engineering contract from Chevron for the Jack-St Malo floating production unit in the Gulf of Mexico. KBR will design and engineer foundations for the deep draft semi-submersible’s hull, deck box, ac...
2011-04-27 07:36:58
STX OSV stake sale clarification [Finance]
Singapore exchange statement claims that STX Europe is ‘continually exploring opportunities’ for its subsidiaries SINGAPORE-listed STX OSV has played down media reports that the STX Group was planning to sell its 20% stake in STX OSV, the off...
2011-04-27 07:32:14
Boxship orders to near $30bn [Shipbuilding]
Shipowners have ordered over $7bn worth of new containerships in the first quarter of 2011. With plenty more orders set to be in the pipeline, the final outturn for 2011 could be on a par with 2005 and 2006 when the value of contracts signed excee...
2011-04-27 07:27:30
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