Hitachi stops power generation [Equipment]
Japan's Hitachi Shipbuilding has stopped operating its Ibaraki plant, which is the main source of generating power provided to Tokyo Electric Power Company. This is because the latest quake seriously damaged the yard's power generation facilities...
2011-03-18 10:19:27
Onahama yard destroyed [General]
Japan's Ministry of Land, Infrastructure, Transport and Tourism has announced that Onahama Shipyard located in Iwaki, Fukushima, saw all the facilities broke down by the recent devastating earthquake.
2011-03-18 10:03:19
Ulsan joins 'Europort Istanbul 2011' [Equipment]
The authority of Ulsan city in Korea and the Ulsan branch of the Korea International Trade Association (KITA) is to arrange a 'Ulsan Booth' with some Ulsan-based enterprises in the shipbuilding fair, 'Europort Istanbul 2011', taking place in Turkey ...
2011-03-18 09:52:36
Some declare 'Force Majeure' [General]
Some Japanese shipbuilders have declared force majeure on delays of newbuilding deliveries in the wake of the earthquake and tsunami catastrophe. Steel materials and other marine equipment supply chain took a hit from the disaster and uncertainty ...
2011-03-18 08:47:02
US green light for Petrobras FPSO [Offshore]
The US Interior Department said Thursday it gave final approval for Petrobras to use the first ever deep-water FPSO facility in the Gulf of Mexico. The facility will be used when the company begins oil and natural gas production at its Chinook-Ca...
2011-03-18 08:27:36
VLCC rates falling [Shipping]
VLCC rates for Middle East-Asia route fell for the fifth consecutive day, as the catastrophe in Japan cut crude demand. Charter rates for very large crude carriers shipping 260,000 tonnes of crude on the industry’s benchmark Saudi Arabia to Japa...
2011-03-18 08:23:53
CSDC soars in 2010 [Shipping]
China Shipping Development Co (CSDC) has posted a big rise in 2010 profit. The Hong Kong-listed tanker and bulker arm of China Shipping Group said last year's net earnings were CNY 1.71bn ($260.1m), against CNY 1.06bn in 2009. Its vessels brought ...
2011-03-18 08:18:37
Reward for overcoming crisis: Norden [Shipping]
Norden boss Carsten Mortensen has been handed an extraordinary bonus of half a million dollars. Mortensen, who opted to waive any bonuses in 2009, was awarded the payout after the shipowner booked “satisfactory profits in spite of very difficult...
2011-03-18 08:16:06
Beluga Bankrupt [Finance]
Multipurpose/heavylift operator Beluga Shipping has filed for insolvency. It follows a similar filing a day before involving it’s commercial subsidiary Beluga Chartering. The latest decision was taken by interim chief executive Roger Iliffe...
2011-03-18 08:11:00
Sinopacific kicks off two lead ships [Shipbuilding]
Yangzhou Dayang Shipbuilding, an affiliated yard of China’s Sinopacific Shipbuilding Group, started building two lead ships in March. One of them is the bulk carrier Crown 63 (63,500DWT), classified under BV register and self designed by Sinopa...
2011-03-18 07:33:16
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