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Keppel buys into FPSO topside player
[Offshore]
Keppel Offshore & Marine has bought a 27.7% stake in Singapore-listed topside module fabricator Dyna-Mac for S$87.5m ($68.8m). Keppel O&M managing director Nelson Yeo said the deal would allow the company to strengthen its capabilities in floating...
2011-03-03 08:12:09
Bangladesh breakers to reopen
[General]
Bangladesh's High Court is expected to make announcement soon over reopening of local shipbreaking yards. The general consensus among industry insiders is that shipbreaking yards will be able to open for business but with a handful of conditions t...
2011-03-03 07:27:50
HMD wins 37K handy BCs
[Shipbuilding]
Hyundai Mipo Dockyard has won more handysize newbuildings from Japanese shipowner. It has recently booked three more 37,000-dwt bulkers with Daiichi Chuo Kisen after it penned the first nine such ships last year, swelling the 37K BC orderbook for ...
2011-03-03 07:10:38
Goldenport mulls tonnage splurge
[Shipping]
Greek shipowner Goldenport Holdings is eyeing more boxship tonnage. The owner also believes the outlook for dry-bulk markets “may not be so gloomy”. Looking ahead the owner reckons 2011 “should be another year of recovery” for liner market...
2011-03-03 06:59:56
HSH Nordbank in turnaround
[Finance]
German shipping financier HSH Nordbank has returned to black for the first time since 2007. The restructured lender said net earnings were EUR 48m ($66.37m), compared to a loss of EUR 743m in 2009. It attributed the improvement to the global econ...
2011-03-03 06:51:48
Paragon wins ship loans for 7 BCs
[Finance]
Paragon Shipping has finalized funding for its entire newbuildings on order with a Nordea-led syndicate, the company revealed Wednesday. The fresh loan comes in at $135m and covers seven bulkers on order in China. Michael Bodouroglou, CEO of Para...
2011-03-03 06:46:50
NITC expands VLCC fleet
[Shipping]
NITC’s expansion plans will not be derailed by insurance sanctions, its chairman Mohammad Souri said. His plans include the long-term chartering of a series of VLCC newbuildings for delivery to Oman Shipping Co over the next two years. The ...
2011-03-03 06:41:22
DNV issues ISDS class notation
[Equipment]
DNV will shortly issue the first ISDS (Integrated Software Dependent Systems) class certificate to Dolphin Drilling. This new state-of-the art class notation has been under development since 2008 and is already in great demand. Several major rig ...
2011-03-03 06:31:55
Alliance btwn IHI & Jurong
[Offshore]
Japan's IHI has entered into an alliance with Singapore's Jurong Shipyard to rebuild its competitiveness in the rig-building business. That is, IHI is responsible for designing rigs and building some basic parts, and its partner, Jurong, is in ...
2011-03-03 00:10:37
Mitsubishi revives with eco-ships
[Shipbuilding]
Japan's Mitsubishi Heavy Industries is rising again by recently winning new orders for future strategic types of ships. The shipbuilder has been awarded an eco-LNG carrier and another two ferries equipped with cutting-edge eco-friendly equipment...
2011-03-03 00:09:34
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