Sembcorp signs for 5 rig newbuilds [Offshore]
US rig player Atwood Oceanics has inked an order for two new jack-up drilling rigs at Sembcorp Marine's PPL Shipyards, Atwood announced on October 5th. The pair of newbuilding contracts are worth about $190m each. If the drilling contractor e...
2010-10-06 07:49:28
Hyundai inks VLCC pair [Shipbuilding]
South Korea's Hyundai Heavy Industries has reportedly contracted two 319,000-dwt very large crude carriers with compatriot shipowner SK Shipping. Delivery is set for the second half of 2012 and newbuilding price is yet to be revealed. The owner...
2010-10-06 07:38:03
Chinese cruise industry to be booming [General]
In the past cruise industry solely belonged to British Royals. Both well-known Titanic and Queen Mary 2 are royal cruises. However, nowadays the cruise tourism has gotten into normal families in America and Europe. In China, currently the growth o...
2010-10-06 01:15:33
Shanghai: No competition with BDI [Shipping]
Zhang Ye, Chairman of Shanghai Shipping Exange, recently expressed that they did not intend to develop their own index like Baltic Dry Index (BDI) and no ambition to compete with Baltic Exchange, which seemed unnecessary. BDI is always recognized ...
2010-10-06 01:15:01
SITC to be listed in Hong Kong [Finance]
China’s SITC International Holdings Company Limited intends to launch IPO in Hong Kong on October 6th. The funds to be collected reach around HKD3.1bn ($399m) to HKD4.0bn, which will be used in fleet expansion and logistics. As is introduced, SI...
2010-10-06 01:14:25
Samjin delivers 34K BC “TPC TIMARU” [Shipbuilding]
On October 5th, Korean shipbuilder Samjin Shipbuilding Industries Co., Ltd. (Chairman & CEO: Young-Il Kang) located in Weihai China delivered the DWT 34K Bulk Carrier ‘TPC TIMARU’ to the shipowner ‘KP11 International, TPC Korea’ which is the ...
2010-10-05 16:30:43
MAN celebrates HHI's 100m bhp milestone [Equipment]
Hyundai Heavy Industries marks two-stroke milestone three decades after first Hyundai-MAN B&W engine. HHI-EMD, the Engine & Machinery Division of Hyundai Heavy Industries, held a ceremony in Ulsan, South Korea on 29 September to commemorate the c...
2010-10-05 08:39:00
Bulkers yet to see the worst [Shipping]
Worse is still to come in the dry bulk sector, a prominent Taiwanese shipowner says. Eddie Steamship and Courage Marine chairman Hsu Chih-Chien says we have yet to see the worst of the dry bulk crisis. “Quite frankly I think probably not unfort...
2010-10-05 08:12:25
Fairstar confident in Chinese hi-tech [Equipment]
Heavylift specialist Fairstar has expressed complete confidence in building two sophisticated heavy-lift vessels in China. Chief executive Philip Adkins said steel cutting for the first of the two ships took place last week. “I think that t...
2010-10-05 08:09:11
GE offloads single-huller [General]
Great Eastern Shipping continues to shed single-hulled tankers from its fleet. Bombay-listed Great Eastern has sold the 98,000-dwt Jag Lamha (built 1987), it tells investors Monday. Great Eastern does not say how much the vessel fetched, but i...
2010-10-05 08:05:42
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