Product carriers down [Shipping]
The market conditions of product carriers are still sluggish. The main indicators to show the market situation, the spot freight rates between the Middle East and Japan, stand for WS115 over the LR type and between Singapore and Japan for around ...
2011-02-18 11:59:40
Chinese ship export to hit $50bn in 2011 [Shipbuilding]
According to customs statistics, in 2010 Chinese ship export value broke through $40bn for the first time at $40.3bn, rising by 42.07% against a year earlier. The ship import value hit $1.68bn, decreased by 32.39%. The gross im-export value totaled $...
2011-02-18 11:36:34
SBM-Mitsubishi tie-up [Shipping]
SBM Offshore of the Netherlands announced two days ago that it had made a long-term alliance contract with Japan's Mitsubishi Coporation for FPSO operation project. Mitsubishi will make a joint investment over SBM-leased or operated ships for th...
2011-02-18 11:35:57
Hanjin may order 8,000TEU's [Shipping]
Korea's Hanjin Shipping may place a newbuilding order for 8,000-teu class containerships. Kim Young-min, president of Hanjin Shipping, showed a possibility of placing new ship orders in the chairmen's metting of Korea Shipowners' Association, say...
2011-02-18 10:25:14
Boxship orders to reach 1.5m TEU [Shipping]
Anticipated total of new boxship orders worldwide for 2011 is about 1.5m TEU, which is a more than two times increase on 603,000 TEU from 2010. According to the Maersk Broker, the actual total of the new boxship orders placed during the January o...
2011-02-18 10:05:19
Vigor acquires Todd Shipyards [General]
Todd Shipyards Corporation and Vigor Industrial Llc report the completion of the acquisition of Todd by Vigor's wholly owned subsidiary, Nautical Miles, Inc. The acquisition was made based on an offer to purchase and a merger agreement in December...
2011-02-18 08:25:13
ABS & Herbert form software JV [Equipment]
Classification society ABS and naval architectural firm Herbert Engineering Corp. (HEC) have agreed to form a joint venture company, Herbert-ABS Software Solutions, LLC (Herbert-ABS). Herbert-ABS will offer loading and salvage analysis software ...
2011-02-18 08:20:20
Shipyard towns hit by savings bank crisis [Finance]
Busan-based Busan Savings Bank has been ordered to suspend business, which is now affecting the general industrial complex projects of the shipbuilding towns in South Jeolla Province, Korea. The bank is now joining the shipbuilding town projects...
2011-02-18 07:39:23
Chinese Change Course [Shipbuilding]
Chinese shipbuilders overwhelmed Korean counterparts in 2010 in the aspects of new orders and deliveries, turning into the world's first shipbuilding powerhouse. However, the China Association of National Shipbuilding Industry (CANSI) strongly ex...
2011-02-18 07:37:18
Lamprell wind ship options lapse [Offshore]
Middle East-based shipyard Lamprell said Thursday that Seajacks and Fred Olsen Windcarrier will not exercise newbuilding options for offshore wind turbine installation vessels. Lamprell said it had been notified by Seajacks that an option agreed ...
2011-02-18 07:29:16
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