C& Heavy holding on [Finance]
Troubled C& Heavy Industries is hunting for a buyer after creditors pulled the plug on a debt workout programme. But it is resisting calls to enter into administration for fear of causing order cancellations. Three parties, including one domest...
2009-03-18 07:02:39
Chinese to buy up cancelled newbuildings [Shipbuilding]
Chinese bulk operators such as China Shipping Development and Sinotrans Shipping could be encouraged by Beijing to take on some of the vessels cancelled by foreign owners to support Chinese shipyards. Macquarie Research analyst Jon Windham estima...
2009-03-18 06:55:41
Newbuilding market starts to move [Shipbuilding]
South Korea’s large shipbuilders are said to have started to make newbuilding offers to shipowners for delivery in 2011. It is said that they mainly seek to receive VLCC or capesize orders. The shipbuilders seem to try to fill the idling capaci...
2009-03-18 06:21:04
Aros Maritime merges with Euroflex [General]
The repair yard Aros Maritime and the maritime and industrial company Euroflex are now joined under the name Euroflex. The merging will among other things mean that maintenance of ships in the future can be made at the shipyard and onboard sailing sh...
2009-03-17 15:43:29
WWL to lay-up car carriers [Shipping]
Wallenius Wilhelmsen Logistics (WWL) says it may lay-up as much as 20% of its fleet due to the global recession. Arild IversenThe 54,680-gt vehicle carriers Toba (built 1979) and Tapiola (built 1978) have already been laid up in Lyngdal, Norway. ...
2009-03-17 15:37:47
Keppel FELS gets early-delivery bonus [Offshore]
Singapore's Keppel FELS Limited has been awarded a bonus of $625,000 for delivering the jackup rig, Greatdrill Chetna, 20 days ahead of schedule, within budget and without incidents to Mercator Offshore Limited. Built to Keppel's proprietary KFELS...
2009-03-17 15:31:12
Samsung to issue KRW 700bn bond [Finance]
As orders dry up in the global downturn, the world’s second-largest shipyard Samsung Heavy Industries said it plans to raise KRW 700bn ($486m) by selling debt. It would be its first such move in seven years. In February 2002, Samsung had issued ...
2009-03-17 08:06:34
Sumitomo forays into Suezmax [Shipbuilding]
Sumitomo Heavy Industries Marine & Engineering Co. (SHIME) has branched out into the construction of a Suezmax tanker. Hitoshi Kashimoto, president of SHIME, told a press conference on Mar. 13, "We have developed our first Suezmax tanker and received...
2009-03-17 07:53:25
Norwegian yards face uncertain outlook [Finance]
Norway’s shipyard sector is facing an uncertain future after one yard filed for bankruptcy, and another posted an operating loss of NKr560m ($82m). The privately-run Karmsund shipyard in western Norway filed for bankruptcy last week, stating tha...
2009-03-17 07:46:42
The largest-ever ship built in Wuhan: 57K [Shipbuilding]
Qingshan shipyard of China Changjiang Shipbuilding Industry in Wuhan officially delivered its first 57,000 dwt bulk ship which will be exported to Greece this month.
2009-03-17 07:42:00
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