Margin may drop for shipbuilders [Finance]
It is forecast that the operating margin of Korean shipbuilders would decrease sharply from next year. Korea Investors Service (KIS) cast a prosect on Tuesday that the average operating margin of Korea's top seven shipbuilders - Hyundai Heavy Ind...
2011-02-24 11:30:27
KR likely to lift inspection fee [General]
Korean Register of Shipping (KR) is planning to advance the vessel inspection fee that has been frozen for three years in terms of sharing the pain of the global financial crisis with the shipping and shipbuilding industries. Because of the thre...
2011-02-24 10:57:45
TMS acquires ABS's MLC-ACCOM [General]
Korea's ship design-specialized TMS spun off from Hanjin Heavy Industries & Construction has announced that it acquired 'External Specialist' qualification related to MLC-ACCOM authentication from American Bureau Shipping (ABS) yesterday for the fir...
2011-02-24 10:10:17
Samjin delivers two bulkers [Shipbuilding]
Korea's Samjin Shipbuilding Industries made deliveries for two 33,500-dwt log bulk carriers this month, showing a stable production capacity. The first unit named 'TPC Longview' was sent to its shipowner, TPC Korea Co., on 16th and the second nam...
2011-02-24 09:47:48
Russian Zvezdochka buys local yard [General]
The Severodvinsk, Russia-based shipyard Zvezdochka bought the Krasnaya Kuznetsa yard in Arkhangelsk. With the acquisition, Zvezdochka gets control over Krasnaya Kuznetsa’s floating dock as well as all equipment, a press release from the yard rea...
2011-02-24 08:46:41
BDI slumps: panamax rates tumble [Shipping]
The Baltic Dry Index fell by 26 points Wednesday to 1,253, as a lack of fresh cargoes hit panamax rates. Panamaxes on Pacific round voyages saw the heaviest drop in rates, falling $1,060 to a daily rate of $13,438 on the Baltic Exchange’s indic...
2011-02-24 08:22:48
BMEA to hold regular meeting [General]
Korea's Busan Marine Equipment Association (BMEA) holds the 20th regular general meeting of 2011 in Paragon hotel in Busan today with around 200 members of the association from 280 enterprises. The main agendas of the meeting will be 2010's busi...
2011-02-24 07:37:54
Samsung shoots $7.2bn new orders [Shipbuilding]
Korea's Samsung Heavy Industries seems to have already secured $7.2bn in new orders likely to be placed at Samsung this year, which corresponds to 63% of this year's new order target. Roh In-sik, president of Samsung said yesterday, "Samsung targ...
2011-02-24 07:36:04
Shipbuilding eyes 1000 patents era [Shipbuilding]
Despite the new order drought since the global financial crisis in 2008, Korea's shipbuilders have continuously been putting efforts into technology development. As a result of those efforts, the number of patent applications increased dramatical...
2011-02-24 07:31:32
IP & Hempel hike coating prices [Equipment]
International Paint is to initiate product price rises as global raw material costs spiral. “During 2010 the cost of raw materials critical to the manufacture of both our marine and protective coatings’ product ranges increased significantly...
2011-02-24 07:23:24
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