Cargotec supplies cement unloading systems [Equipment]
Cargotec has received an order for cement unloading systems to be installed on two barges being built in Malaysia. The MacGregor self-loading/unloading systems are to be installed on a pair of 7,000 dwt barges being built at Shin Yang Shipyard in...
2011-02-16 08:14:14
Shipbreaking into recycling industry [General]
The Bangladesh government has decided to declare the ship-breaking sector as an industry for recycling. A meeting headed by prime minister Sheikh Hasina at her office on Sunday took the decision. It also decided to place those businesses under...
2011-02-16 08:11:31
Hyundai ties up with Mitsubishi [Equipment]
Korea's Hyundai Heavy Industries revealed yesterday it will make a contract with Japan's Mitsubishi Heavy Industries to introduce the technology of compressors on the 17th of January. Through the contract, Hyundai will implement the technology of ...
2011-02-16 07:47:47
Japanese start bonus-NEGO [General]
The labor unions of the Japanese shipyards under the umbrella of the Japan Federation of Basic Industry Workers' Unions (JBU) all together requested the advance of annual bonus on the 10th of January, starting the spring-season labor-management negot...
2011-02-16 07:42:03
VLCC spot rates soar [Shipping]
The spot freight rate for the route between the Persian Gulf and the far east has hit WS80, the highest of this year. When converted into freight rates, WS80 corresponds to between $45,000 and $50,000 per day, which outreaches an average break-e...
2011-02-16 07:32:05
Cosco wins "special purpose carriers" [Shipbuilding]
Cosco Corp announced its Chinese unit Cosco Guangdong Shipyard has won an order for up to four special purpose carriers from an unidentified European shipowner. The mystery owner has stumped up the deposits for the “special purpose carriers” m...
2011-02-16 07:12:22
Pipavav makes turnaround [Finance]
India’s Pipavav Shipyard has turned around losses and broken through into profit in the last quarter. The new yard, which began operations in 2009, posted net earnings of INR 26m ($572,000) in the three months to 31 December. This turns around ...
2011-02-16 07:05:07
Seadrill spins off harsh-environment unit [Offshore]
John Fredriksen’s Seadrill plans a $1.7bn spin-off of its harsh environment drilling arm with the aim of completing a full Oslo listing this year. Named North Atlantic Drilling, the division will take over six Seadrill rigs and is in the final ...
2011-02-16 06:59:27
STX OSV operating profit jumps [Finance]
STX OSV rolled out a vastly improved set of fourth quarter numbers. STX OSV saw its fourth quarter operating profit climb by 130% to NOK 376m ($64.82m) on the back of an improved project performance. Revenue dropped by 12% to NOK 3.57bn as it...
2011-02-16 06:52:44
KLC begins restructuring [Shipping]
Korea Line Corp has been accepted into court receivership two weeks after filing for court protection. Seoul-listed KLC, Korea’s second largest dry-bulk operator, will now begin a restructuring process, it tells investors. "The main reason for ...
2011-02-16 06:48:12
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