LNG ship freight up [Shipping]
The freight rates of LNG ships are expected to increase sharply worldwide in the wake of the recent devastating earthquake in Japan. With a number of Japanese nuclear power plants stopping operations, LNG would be wanted more as a power generating...
2011-03-16 10:22:57
R&D on eco-cell in full swing [Equipment]
Research and development on eco-friendly marine fuel cells is in full swing among Korea's large shipbuilders. For instance, Daewoo Shipbuilding & Marine Engineering signed a MOU with Posco Power at the end of December 2009 to develop marine fuel ...
2011-03-16 10:04:22
Greek yard files for creditor protection [General]
Neorion Holdings, one of Greece’s biggest shipyard groups, said that its Elefsis Shipyards subsidiary, the country’s second-ranked yard, has filed for protection from creditors. The company said it was facing liquidity problems and was in arre...
2011-03-16 08:34:12
VLCC market reboun 2012 [Shipping]
Oversupply will put pressure on earnings and newbuilding prices for the global fleet of VLCCs, which will hit a bottom in 2011, forecasts DVB’s Tanker Market Outlook. The German bank’s Research and Strategic Planning division said growing tonn...
2011-03-16 08:28:21
Drydocks eyes debt deal [Finance]
Drydocks World is reportedly in final discussions on restructuring its massive $2.2bn debt. Khamis Jumaa Buamim, the shipbuilder and shiprepairer’s chairman, told newswire Bloomberg that he was hoping for an agreement with lenders as early as t...
2011-03-16 08:21:44
$5bn order boon for Chinese [Shipbuilding]
GC Intermodal, an investment venture led by Carlyle Group, Seaspan, Tiger Investment Group and shipowner Dennis Washington, is targeting the tanker and dry-cargo markets as well as further containerships worth over $5bn in total. Seaspan has alre...
2011-03-16 08:04:46
CDB teams up with Greek [Finance]
China Development Bank has signed a deal with Piraeus-based XRTC Business Consultants to team up with the Greek outfit as a preferred financial advisor in Greece. XRTC is a financial consulting and advisory services firm, acting as a representativ...
2011-03-16 07:53:12
Greek to order jack-up rigs [Offshore]
A Greek shipowner is about to book jack-up rigs in Singapore shipyard. Capital Ship Management Corp (CSMC) is reportedly set to order two jack-up rigs primarily targeted for contracts with Mexican state oil company Pemex. CSMC is said to be ev...
2011-03-16 07:42:19
COSCO agrees to axe panamax [Shipbuilding]
Singapore-listed COSCO Corp has won compensation from an Asian owner for a cancelled bulker contract. The company said its COSCO Dalian Shipyard in China agreed to the request of the unnamed client to cancel an order for a 79,500-dwt panamax bulk...
2011-03-16 07:37:30
DNV introduces 'Quantum 9000' [Shipping]
By introducing a new solution for LNG-fuelled ships, DNV and MAN Diesel & Turbo are taking the Quantum concept ship one stroke further. Both the machinery and the hull design and arrangement have been improved. A year ago, DNV launched its contain...
2011-03-16 07:27:52
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