100% public ship-fund to come [Finance]
Seoul-based Hi Investment Bank, an affiliate of Hyundai Heavy Industries, announced yesterday it will release 100% public ship fund named 'Hi Gold Ocean 2' for two days from 14th to 15th. According to the company, the soon-to-be shown 100% publi...
2011-03-09 12:14:21
NK pens 25-ship's BWTS [Equipment]
Korea's marine equipment maker, NK Co. Ltd. revealed today that it signed MOAs worth $36m this week to supply ballast water treatment system (BWTS) for 25 ships including boxships, bulkers and tankers. The just signed contracts include detailed p...
2011-03-09 11:47:20
LNG charter rates up [Shipping]
As the demands for LNG carriers take a recovery tone, LNG ship charter rates are also increasing in a fast pace. For instance, the daily charter rate of standard ship types of 135,000 to 170,000-cbm class has jumped to $78,000, which is an around...
2011-03-09 11:14:44
STX Pan Ocean, big beneficiary [Shipping]
Korea's STX Pan Ocean is raised as the main beneficiary of an increasing ship scrapping. Yang Hee-jun, researcher of Seoul-based Hyundai Securities, says through a report released today that "As the Bangladesh Government has lifted the ban on shi...
2011-03-09 10:09:30
STX O&S profit soars [Finance]
STX Offshore & Shipbuilding announced on Tuesday that it has reaped operating profit of KRW 185.5bn ($166m) for 2010, up 54.7% from a year earlier. Net profit also jumped to KRW 75.4bn, turning around a loss of KRW 15.7bn a year before, despite re...
2011-03-09 08:10:23
Lion blames Vinashin [General]
Malaysian conglomerate The Lion Group has blamed problems at Vietnam's scandal-hit shipbuilder Vinashin for the failure of a multi-billion-dollar joint venture. The $9.8bn project by state-owned Vietnam Shipbuilding Industry Group (Vinashin) and L...
2011-03-09 08:02:04
MAN powers RoRo newbuildings [Equipment]
DFDS, the Danish ferry operator, recently signed a contract for the construction of two identical RoRo vessels, each to be powered by two MAN B&W 8S40ME-B9 engines with many extra MAN Diesel & Turbo specifications. Scheduled for delivery in 2012,...
2011-03-09 07:57:52
Opec mulls output boost [General]
Opec is in consultations regarding a potential boost in oil output, Kuwait's Oil Minister said. "We are in consultations about a potential output increase," Reuters quoted Sheikh Ahmad Abdullah Sabah telling reporters as he entered Kuwait's parli...
2011-03-09 07:52:19
LPG boom return [Equipment]
London-based Clearwater Marine Investments has bought three liquefied petroleum gas carriers, signalling that investors see opportunities for the bigger vessels in the LPG market. The 1993-built, 20,542 cbm medium gas carrier Maersk Houston, the 1...
2011-03-09 07:34:19
Floating storage rebound [Offshore]
About 47 tankers were chartered for temporary floating storage of 2.9m tonnes of product and 5.5m tonnes of crude in February, according to monthly figures released by London-based shipbroker Gibson. The figures are up from the two-year low of 40 ...
2011-03-09 07:22:11
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