Samsung releases new order details [Finance]
South Korea's Samsung Heavy Industries published the Q1 results of new order intake today. According to the report, Samsung signed the first newbuilding contract of the year with an American shipowner on the 16th of March to build two drillships w...
2011-03-31 11:49:11
CSSC: 2010's profit drops [Finance]
A number of shipyards in China have still been afflicted with the aftermath of the global financial crisis with decreasing new order, increasing cost and the oversupply of tonnages. Some analysts are raising a very negative prospect on China's shi...
2011-03-31 11:30:45
No slowdown till the first half [Finance]
Seould-based KTB Investment and Securities cast an outlook on the shipbuilding industry today that there will be no slowdown in results untill the frist half of the year. Lee Bong-jin, researcher of the securities company said, "With the high-pric...
2011-03-31 10:18:19
New orders back to Pre-Crisis [Shipbuilding]
World's combined new orders for a full-year 2010 came to 78.5m GT, which is about 90% of 2008's total. According to IHS, the combined newbuilding output for last year totaled 94.31m GT, hitting the highest ever while world's orderbook decreased b...
2011-03-31 09:50:41
Conrad books $75.2m orders [Shipbuilding]
US shipbuilder Conrad Industries announced its fourth quarter and twelve months 2010 results and the addition of $75.2 million in new business during the first quarter. For the quarter ended December 31, 2010, Conrad had net income of $3.3 million...
2011-03-31 08:31:01
SBM Offshore inks OSX FPSO [Offshore]
SBM Offshore has executed a Letter of Intent (LOI) with OSX 2 Leasing BV, an indirect subsidiary of OSX Brasil S.A. and part of Eike Batista's EBX Group. SBM says the LOI will permit it to start project activities, including early engineering and ...
2011-03-31 08:22:45
MIS wins WT install vessel legs [Equipment]
A UAE-based engineering firm Maritime Industrial Services (MIS) has landed a $22.5m contract to build legs for wind turbine installation newbuilding controlled by Beluga Hochtief. MIS says it will fabricate four Friede & Goldman (F&G) legs for th...
2011-03-31 08:18:43
Nassco wields axe again [General]
General Dynamic’s Nassco shipyard has laid off another 350 workers in San Diego. The jobs will go between late May and early June. It has blamed the redundancies on a federal budget stalemate that is preventing the navy from signing any more co...
2011-03-31 08:15:00
Cosco worried over bulker sector [Shipping]
China Cosco Holdings warns over dry-cargo market after seeing its bulker fleet post a loss in the second half of 2010. Fleet growth of 14% this year will swamp an expected rise in demand of just 6%, China Cosco said. It said: “Increasing dr...
2011-03-31 07:35:39
Havyard pens PSV [Shipping]
Norway’s Havyard Ship Technology has won a contract from Sartor Offshore to build a NOK 300m-plus ($53.62m) platform supply vessel. The deal for the Havyard 832 L comes with one option. The vessel will be built in Leirvik for delivery in Jan...
2011-03-31 07:29:57
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