Newbuilding price may up [Shipping]
Seoul-based IBK Investment & Securities released its prosepct on the shipbuilding industry today that newbuilding prices will rebound from the second quarter of the year. Park Seong-hyun, researcher of the securities company said, "The decrease of nu...
2011-03-17 11:05:51
Big 3 benefit from LNG boom [Equipment]
Seoul-based Daishin Securities revealed today that Korea's big three - Hyundai, Samsung and Daewoo - would be the biggest beneficiaries from the new LNG ship orders expected to increase sharply from next year. Jeon Jae-chun, analyst of the secur...
2011-03-17 10:29:45
Rush for LNG ship orders [Offshore]
Multinational energy company Royal Dutch Shell is said to invest KRW 100trn ($87.7bn) to expand its energy business. As the news has become known, Korean shipbuilders are raising a high expectation for new LNG ship orders. Cho In-gab, researc...
2011-03-17 09:54:31
Japanese bonus spree [Finance]
Most of Japan's major shipbuilders are increasing annual bonus for 2011 against last year, after Japan Federation of Basic Industry Workers' Unions (JBU) asked the bonus hike. Mitsubishi Heavy Industries has decided to increase the lump sum bonus ...
2011-03-17 08:41:37
No budgetary limits for subsidy: Indian [Finance]
There will be no budgetary constraints for subsidy receivables of Indian shipbuilders including ABG Shipyard, Bharati Shipyard, Larsen & Toubro, etc. in case their demands in 2011-12 exceed the budgeted amount of Rs 542.12 crore. The shipyards an...
2011-03-17 08:29:28
Malaysian Sibu seek exemption [General]
Malaysia's Sibu Shipyard Association (SSA) wants the government to exempt importers of steel materials used in ship construction from sending them to SIRIM for testing. Its chairman, Lai Kok Liong, said this was because the International Maritime ...
2011-03-17 08:22:21
BDI continues to fall [Shipping]
Baltic Dry Index fell for the third consecutive day, as capesizes saw a 6% drop in average spot rates amid an oversupply of vessels. Japanese demand for dry cargo was reduced after infrastructure damage wrought by the earthquake and tsunami. Aver...
2011-03-17 08:16:54
Bourbon profit drops [Offshore]
French offshore giant Bourbon has posted a massive fall in profit in 2010. The net figure was EUR 39.2m ($54.72m) last year, down from EUR 155.4m in 2009. Revenue increased to EUR 849.9m against EUR 812.8m, as the fleet grew to 407 vessels, f...
2011-03-17 08:12:24
First steel cut for Royal Princess [General]
As the first steel plate was cut Tuesday marking the official start of construction of Princess Cruises' next ship, the line unveiled the vessel's profile, released preliminary details about some of its features, and revealed its name - Royal Princes...
2011-03-17 07:31:58
NCC takes SLS's chemical tanker [Shipping]
The National Chemical Carriers (NCC), 80% owned by The National Shipping Company of Saudi Arabia, announced that the company received on Wednesday, 16th March in Korea a new chemical tanker named "NCC NOOR" from SLS Shipbuilding, as part of two vesse...
2011-03-17 07:28:13
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