China imports most ship parts from S Korea [General]
Korea is known as the major supplier of ship equipment to Chinese shipyards. According to China Customs Statistics, the combined export and import value of Chinese yards during January and February this year came to $1.087bn, increasing by 23% y-o...
2011-04-27 06:54:02
Samsung benefits most from offshore [Offshore]
Korea's Samsung Heavy Industries is believed to be the biggest beneficiary of the industrial improvement of the shipbuilding industry moving its center to the offshore plant sector. True, Samsung is recognized worldwide as the strongest offshore f...
2011-04-27 06:50:56
Daewoo CEO stresses 'Subsea' [Offshore]
"Subsea sector will be the key to securing a differentiated competitiveness in the future" Nam Sang-tae, chairman of the Korea Shipbuilders' Association (Koshipa) and president of Daewoo Shipbuilding & Marine Engineering, has recently revealed, th...
2011-04-27 06:49:16
STX eyes 'Mega Repair Yard' [Shipping]
South Korea's Busan Newport 'Mega Repair Yard Project', which has been stagnant for two years without any progress against the backdrop of prolonged recession in global shipping and shipbuilding industries, is expected to make its first step sooner o...
2011-04-26 15:17:23
Hyundai, ‘Best Employer in Korea’ [General]
Hyundai Heavy Industries was chosen the ‘Best Employer in Korea’ on April 26th for the fifth consecutive time this year. Aon Hewitt of the US has selected HHI as the Best Employer in Korea for 2011 following the same choices in 2001, 2003, 200...
2011-04-26 14:48:14
Owners back to newbuild [Offshore]
Shipowners are returning to shipyards for newbuilding orders. According to the latest weekly report from Golden Destiny, the past week ended with 63 orders in total, equalling a total invested capital around $4.6 billion, 35 transactions reported ...
2011-04-26 07:55:20
ABG's new JV shipyard in Nigeria [Finance]
India’s largest shipbuilding firm ABG Shipyard Ltd is forming a joint venture to set up a large shipbuilding yard in Nigeria. ABG Shipyard is expected to own 40 per cent stake in a JV with a group of Nigerian investors including Nkrah Investmen...
2011-04-26 07:49:11
Handy rates overwhelm Cape's [Shipping]
Charter rates for 30,000 dwt bulk carriers reached a 2011-high of almost $12,000 per day on average last week, double the amount 180,000 dwt capesizes were achieving, as the divide between small and larger ships continues to grow in the shipping mark...
2011-04-26 07:44:50
Jurong, winner of Golar LNG-FSRU [Offshore]
Singapore's Jurong Shipyard, a wholly-owned subsidiary of Sembcorp Marine, has secured an approximately S$20 million contract from Golar LNG Energy to convert the LNG Khannur, a Liquefied Natural Gas (LNG) tanker, to a Floating Storage and Regasifica...
2011-04-26 07:25:04
Samudera ship buys go on [Shipping]
Samudera Shipping Line has snapped up another vessel from its chartered fleet. Singapore-listed Samudera will pay $15.2m for the unnamed 1,054-teu ship which was built in 2005, it says. The purchase comes only weeks after the owner dug out $1...
2011-04-26 07:19:49
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