STX Engine to sign a massive supply contract [Equipment]
South Korea’s STX Engine has signed a contract to supply a large number of vessel engines worth KRW 162bn. STX Engine on 21 August revealed that it has entered into a contract with a domestic large-scale shipbuilding company to supply a total of...
2008-08-21 13:10:49
Tanker newbuilding market boom [Finance]
In stark contrast to the bulk carrier market, which showed a sharp decrease in new order for bulkers compared to the previous week, tanker segment showed a steep increase of new orders. This trend has gotten worse in the wake of U.S. intervention...
2008-08-21 10:12:07
South Gyeongsang Province, Korean Shipboard Equipment Indust... [Finance]
According to Korean shipboard Equipment industry report released by Gyeongnam Development Institute’s in South Gyeongsang Province, Korean shipboard equipment industry posted an average annual 34.9 % growth and is expected to edge up 11.5% in impor...
2008-08-21 10:09:20
DSME’s Public Notice of Sale on August 22nd [General]
Daewoo Shipbuilding & Marine Engineering (DSME)’s bidding battle is to be in full swing. According to industry sources, Korea Development Bank is to put up the DSME’s bidding notice in August 22nd and announce their intention of selling a comb...
2008-08-21 10:02:29
Doosan’s decision to drop the DSME bid [General]
As one of the largest M&A deal in Korea, Daewoo Shipbuilding and Marine Engineering’s prospective buyer Doosan Group expressed their intention of pulling out of the bidding battle in August 18th. Doosan’s withdrawal from the bidding race drew lot...
2008-08-21 09:59:41
DSME acquisition narrowing down to three-contenders’ battl [Finance]
As Doosan Group on August 18th abruptly expressed its stance for not participating in the M&A battle for acquiring Daewoo Shipbuilding & Marine Engineering (DSME), the largest deal on the M&A market this year, the number of competitors narrowed down ...
2008-08-21 09:52:47
Braemar to make inroads into tanker FFA market [General]
UK shipbroker Braemar Seascope has decided to establish a joint venture with Tullett Prebon, aiming at success in the forward-freight-agreement (FFA) market. Deals will mainly take place on tanker FFA market but in the long run the joint venture w...
2008-08-21 09:46:08
DNV to undertake classification task for the largest ore car... [General]
Norwegian classification society DNV (Det Norske Veritas) announced that it will take charge of ship classification of the world’s largest 12 ore carriers (400,000 dwt) to be constructed at China’s Jiangsu Rongsheng Heavy Industries. The ships...
2008-08-21 09:44:20
Jurong plans to build a shipyard in Brazil [General]
Singapore’s Jurong Shipyard and the government of Espiritu Santo (one of the states of Brazil) are planning to build a new yard in the Brazilian city of Aracruz. The government of the state has signed a letter of intent with the Singapore’s ya...
2008-08-21 09:42:50
Bohai to receive orders for 14 ships in 1H 2008 [Shipbuilding]
China’s Bohai Shipbuilding Heavy Industry has received orders for 14 newbuildings from four shipowners at home and abroad during the first half of this year. According to the data released on 19 from its parent company, the state-owned China Shi...
2008-08-20 13:31:03
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