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Tsuneishi won 10 bulkers
[Shipbuilding]
Japan's Tsuneishi Shipbuilding won 10 newbuilding contracts last year centering on small- and mid-size bulkers, so its four shipyards in and outside Japan have secured enough workload by the end of 2013. Since the shipping market situations have ...
2011-03-11 06:19:31
DSME chief appointed Koshipa chairman
[General]
Nam Sang-tae (61), the president of Korea's Daewoo Shipbuilding & Marine Engineering (DSME), is to be appointed the 12th chairman of the Korea Shipbuilders' Association (Koshipa). According to industry sources released on today, the current chair...
2011-03-10 11:47:31
Coking coal up & cost up
[Equipment]
The steel and shipbuilding industries are expected to have an increasing cost burden since coking coal prices are skyrocketing in a wake of the deluge that happened in Queensland, Australia, last December. One of the world's largest mine companie...
2011-03-10 10:46:05
Koreans dominate FPSO & drillship
[General]
The international oil prices have surpassed $100 per barrel. As a lot of marine resource development projects are increasingly focusing on deep-sea or polar area, Korea's shipbuilders, who have advantage in drillships, FPSO and offshore plants, are d...
2011-03-10 10:27:06
Oil price calls for LNG ships
[Finance]
Seoul-based KB Investment & Securities raised a very positive outlook on the shipbuilding industry today since the increasing oil prices are triggering a big scale of investment in the development of marine resource, casting 'overweight' for investme...
2011-03-10 09:55:32
SCI to order 26 ships
[Shipping]
Shipping Corporation of India (SCI) plans to acquire 110 vessels of 5.21m gt at an estimated cost of Rs 27,668 crore (about $6.1bn) in next 10 years. The company plans to order 26 vessels by 2011-2012, G K Vasan, Indian shipping minister revealed...
2011-03-10 08:32:33
Baku Caspian Shipyard breaks ground
[Shipbuilding]
Azerbaijan Investment Company (AIC)'s joint venture with State Oil Company of Azerbaijan (SOCAR) has begun ground works for the construction of the Baku Caspian Shipyard. The joint venture includes AIC and Keppel Offshore, with SOCAR holding an e...
2011-03-10 08:27:53
VLCC rates rise to breakeven
[General]
Daily earnings for owners shipping Middle Eastern crude oil to Asia on very large crude carriers topped $30,000 on the Baltic Exchange Wednesday for the first time in two weeks. Oil majors booked vessels for loading cargoes in the third week of Ma...
2011-03-10 08:22:40
Cido offloads last SH VLCC
[General]
Cido Shipping has offloaded its last single-hulled VLCC. It sold the 269,100-dwt Pacific Jasper (built 1995) to a Korean owner for conversion into an FPSO, it is claimed. Brokers are split on how much the vessel fetched, with suggestions ranging ...
2011-03-10 08:13:00
Capes to rebound
[Shipping]
Rates for capesize bulkers are gaining momentum as wild weather and port restrictions start to subside, says Doug Garber, an equity analyst at US investment bank FBR Capital Markets. Spot prices for capes, panamaxes, supramaxes and handies rose 3....
2011-03-10 08:07:09
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