Maersk logs record profit [Finance]
Copenhagen-listed AP Moller-Maersk posted a record profit of more than $5bn last year. Nils Andersen, CEO of AP Moller, said: “We have increased our financial strength and are ready to make significant investments in our businesses.” A surge i...
2011-02-24 07:10:45
HSH normalizes ship financing [Finance]
European ship finance heavyweight HSH Nordbank is open for new business. Christian Nieswandt, deputy to new global head of shipping Robin Das concedes that many banks have been hiding behind the catchphrase “selective new business”. “What I...
2011-02-24 06:59:31
LNG fuel best for North American area [Shipping]
DNV says that using LNG as fuel is the most efficient and economical way for ships to meet air emissions requirements in the U.S. and Canada that take effect in August 2012. Environmental Control Areas (ECA) will gradually be enforced along the N...
2011-02-24 06:48:20
Hellas refrain from investing in ships [Shipping]
Despite the recent rebound in dry bulk freight rates, Hellenic shipowners have been absent from the newbuilding, as well as the secondhand vessel markets during the past week. Golden Destiny’s weekly report said overall market sentiment for bul...
2011-02-24 06:41:11
Shipbuilding for economic development [Shipbuilding]
China cut about $20bn a year from its dry bulk transport costs compared with the market highs of a few years ago, justifying investment in its shipyards. Hellenic Chamber of Shipping president George Gratsos said: “The interest of national econo...
2011-02-24 06:33:15
Sembcorp net profit rises 23% [Finance]
Singapore-listed Sembcorp Marine reported a 23% growth in net profit for 2010 of S$860m ($673m), up from S$700m a year before. The company said its outlook for 2011 was uncertain due to the possible impact that the unrest in the Middle East could ...
2011-02-24 06:25:45
Dalian-shipbuilding parks on development [Shipbuilding]
The recent delivery of the first newbuilding of Cosco's Dalian shipyard in China shows that three shipbuilding industrial parks have been formed in Chang xing dao, Da lian wan and Lv shun regions in Dalian. Some world-class shipbuilders have recent...
2011-02-23 13:00:48
Keen competition among Asian yards [Shipbuilding]
Most of world' shipowners have not been able to place newbuilding orders over the last two years due to the global financial crisis, putting shipbuilders into new order drought. Also, as the global shipowners are increasing their expectation for ...
2011-02-23 12:30:36
Container shipping moves up [Shipping]
China's foreign trade is recovering as the global economy is taking a favorable tone. There was a noticeable increase in container traffic last month with the shipping costs of containers stopping to drop. The market situations of internation...
2011-02-23 11:57:13
Hyundai returns to No1 [General]
Korea's Hyundai Heavy Industries has taken the world's first place again in six months in terms of orderbook. When it comes to nations, China is steadily increasing order backlog, but still behind Korea in the aspect of business competition. ...
2011-02-23 10:42:12
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