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Hyundai Energy & Resources
[General]
South Korea's Hyundai Heavy Industries (HHI) is putting spurs into the resource and energy development sector, which is being paid attention as a future business. HHI announced today it will establish a resource development-specialized company, Hy...
2011-04-05 12:42:11
Yards face price hike of ship equip
[Equipment]
In 2011, newbuilding market situations, especially in the offshore facility sectors such as drilling rigs, are expected to continue upward trend which started since 2010 after a severe new orders drought in 2009. Against the backdrop of the increa...
2011-04-05 12:14:05
Mega-float rises
[Equipment]
Plan of using mega-float is emerging as a solution for the main headache in the Fukushima nuclear power plant 1 of The Tokyo Electric Power Company, the storage of radioactive-contaminated water. The authority of Shizuoka city in Japan has handed...
2011-04-05 12:04:51
China: Newbuilding prices stable
[General]
The total of China's domestic newbuilding resales during the fourth week of March decreased by 45% compared with the previous week to 16 ships. While newbuilding prices did not show a noticeable change, international newbuilding resales dropped by...
2011-04-05 11:40:50
Halifax cuts further 50
[General]
Canada’s Halifax Shipyard is laying off 50 workers as major projects were completed. The Irving-owned shipbuilder said the redundancies were in addition to 40 others that have taken place since 11 March. Spokesperson Mary Keith said: “The...
2011-04-05 08:22:05
LR-ABS release CSR software
[Equipment]
Lloyd's Register CEO Richard Sadler and ABS Chairman and CEO Robert D. Somerville have signed an agreement that sees the two classification societies release jointly-developed software that will be used to assess bulk carriers and oil tankers designe...
2011-04-05 08:18:16
Bangla breakers yet to resume
[General]
Bangladeshi shipbreakers have been buying scrap vessels in recent weeks but there is still no sign of a green light from High Court for beaching. Despite positive news that the country’s High Court would set out the conditions for breaking opera...
2011-04-05 08:11:26
Cosco recycles another cape
[Shipping]
Cosco has reportedly scrapped one more capesize bulker for over $10m. Its 148,150-dwt Merit Land (built 1986) will be cut up at the Taizhou yard near Shanghai, cash buyer GMS says. Cosco is said to have sold the vessel for $455 per ldt, the sa...
2011-04-05 07:38:00
Maersk invests $3bn in new rigs
[Finance]
Maersk Drilling is planning to spend up to $3bn on new drilling rigs. The Danish firm's CEO Claus Hemmingsen told the Borsen daily that the company will expand over the next five years to become a more significant participant in the industry. ...
2011-04-05 07:21:59
Ocean Rig plans bond issue
[Finance]
DryShips’ drilling arm Ocean Rig is looking to collect $500m from the Norwegian bond market. Ocean Rig will use the cash to help finance its drillship newbuildings, a statement says. Its move comes only days after it landed loans worth near...
2011-04-05 07:16:26
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