Big 4 vie for LNG carriers [Offshore]
Golar LNG Energy is looking for the best deal on six newbuilding slots for LNG carriers at South Korean shipyards. Platou has reportedly been tasked with securing offers from Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries. ...
2011-02-28 06:17:45
Hyundai lands $1.2bn FPSO [Offshore]
Hyundai Heavy Industries has landed an offshore newbuilding order worth more than $1bn from BP. The world’s largest shipbuilder will construct a floating production, storage and offloading (FPSO) vessel. HHI tells investors the deal is wort...
2011-02-28 06:11:02
China vs Korea, Neck & Neck! [General]
While the global newbuilding market stayed depressed during the January of 2011, Chinese shipbuilders secured 45 ships of 1.1m CGT in new orders, occupying 72.6% of world's total. But Korean counterparts stood at only 12 ships of 400,000 CGT. In ...
2011-02-25 13:12:56
Where is next bull market? [Shipbuilding]
Experiencing depression during 2009 and slight recovery in 2010, at the beginning of 2011, on the context of oversupply and shipping recession, the ‘golden industry’ would rise or fade? Xiao Jun, who was General Manager of Wuhu Xinlian Shipbui...
2011-02-25 13:11:38
Samsung in talks over FPSO option [Offshore]
Nexus Floating Production is seeking more time to secure the future of a stalled FPSO newbuilding at Korean yard. The Norwegian FPSO owner is locked in discussions with Samsung Heavy Industries about extending an option period for work to restart...
2011-02-25 13:06:41
Korean focuses on eco-ship tech [Shipbuilding]
Korea's shipbuilding industry plans to arm itself with eco-friendly ship technology to increase the gap with Chinese rivals and to return to the world's first position this year. Choi Jung-kyeong, secretary of Korea's Ministry of Knowledge Econo...
2011-02-25 12:45:40
Yangzijiang and CSBC deepen cooperation [Shipbuilding]
As is reported earlier, China’s Yangjiang Shipbuilding signed memorandum agreement with Taiwanese CSBC on October 28th 2010. Currently Chairman Ren Yuanlin of Yangzijiang Shipbuilding expressed more details of cooperations. Both parties were neg...
2011-02-25 12:36:57
Soaring oil makes shipowners cry [Shipping]
As ship-fuel oil prices are increasing along with currently soaring international oil prices, Korea's shipping companies are facing an additional fuel cost burden in ship operation. To look into domestic shipping companies' cost of sales of 2009,...
2011-02-25 11:56:20
Korean shipowners turn to profit [Shipping]
Korea's major shipping companies, such as Hanjin Shipping and STX Pan Ocean, made a satisfying turnaround last year in both focused and non-focused business sectors. According to industry sources released yesterday, Korea's largest container shi...
2011-02-25 11:24:12
VLCC market falls [Shipping]
The market situation of VLCCs has recently turned into downfall. The spot rates for VLCCs from the Persian Gulf to Korea has been at WS62.5, around $25,000 when converted to charterage while the average break-even point is $30,000. It is a 2...
2011-02-25 10:44:58
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