VLCC turning to super-slow steaming [Shipping]
Maersk Tankers is saving $22,000 daily in fuel costs for each of its very large crude carriers by almost halving vessel speeds for the ballast leg of the voyages. The Copenhagen-based company said it is using lessons learned about super-slow steam...
2011-02-23 07:02:30
Cosco boosts profit with $2.1bn orders [Equipment]
China's shipbuilder and bulker owner Cosco Corp (Singapore) managed to significantly boost net profit on the back of increased sales and cost cutting but its dry-bulk division suffered in a weak market. Such continued weakness was also one of the...
2011-02-23 06:53:53
Yangzijiang reaps record profit [Finance]
China's Yangzijiang Shipbuilding says it posted a record profit in 2010. The Singapore-listed posted 2010 net profit of Yuan2.95bn ($448m), on the back of 22% revenue growth, totalling Yuan12.92bn. The company said gross profit margin rose from...
2011-02-23 06:45:15
Maersk open to bigger ships [Shipping]
AP Moller-Maersk, which just inked ten 18,000-teu containerships at South Korean shipyard DSME plus 20 optional vessels for $190 apiece, is open to the idea of building even bigger boxships. The Dane also claimed funding for the potential $5.7bn, ...
2011-02-23 06:36:28
New Century: Final run for IPO! [Finance]
As one of China’s largest private shipyards, New Century Shipbuilding would leave for Hong Kong on this Thursday, for IPO hearing. As is reported, the issue scale would hit $800m. led and dominated by BOC International (China) Limited and Deutsche ...
2011-02-23 02:14:34
Nantong: Crowning Jiangsu of China [Finance]
In 2010, the industrial value of Nantong Jiangsu reached CNY112.5bn ($17bn) while sales value hit CNY111.2bn ($16.7bn). Nantong contributed a lot to Jiangsu’s crown of China, in terms of output, order intakes and orderbook. With high speed growt...
2011-02-23 01:44:51
Jinhai: Bye to electricity shortage [Shipbuilding]
Jinhai Heavy Industry was located in Daishan, which was a small island of Zhoushan China. In July of 2009, it entered compatriot Hainan Airline and became one of Asian largest private shipbuilding base. Currently it owned six docks of 1.68m tons, one...
2011-02-23 01:19:29
Jing jiang, NO.3 shipbuilding base [Shipbuilding]
Jing jiang region located in Jiangsu Province, China, is attracting a great attention from the shipbuilding industry by forming a complete industrial cartel to cover from designing ships to building ocean-going transport vessels. There are some ...
2011-02-22 15:57:56
Jiangsu: Top8 earn $6.23bn through export [Finance]
According to statistics, in 2010 the delivery volume of top8 shipbuilders of Jiangsu Province, which was China’s largest shipbuilding base, broke through 10m tons for the first time, at 13.53m dwt. It was raised by 47.48% and hit a historical new h...
2011-02-22 15:42:29
Fujian ship export hits $1.5bn [Shipbuilding]
According to official statistics, in 2010 the ship export value of Fujian Province China reached $1.525bn, rising by 28% against that of last year. In the past year, on the context of global ship market recession, the shipyards from Fujian Provinc...
2011-02-22 15:06:57
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