Jan De Nul pens newbuildings [Shipbuilding]
Belgium's Jan De Nul Group has ordered two dredgers and a mining vessel at two European yards. It has penned two 14,000-cbm trailing suction hopper dredgers at Croatia’s Uljanik Brodogradiliste for delivery by mid and late 2012. Uljanik has...
2011-02-09 09:03:27
BDI edges up to 1,045 [Shipping]
The Baltic Dry Index rose by two points to 1,045 Monday, reflecting an improvement in rates for panamax vessels that saw average time charter rates rise by $374 to $11,160 per day. The rise is the first in almost a month. Panamax transatlantic round ...
2011-02-09 08:46:01
Chinese breakers up scrap prices [General]
A number of bulk carriers were sold for scrap in the past week as owners continued to face lower freight rates in the dry sector. India continued to dominate the demolition market with rates in the high $400s per ldt, somewhat softer than in the p...
2011-02-09 08:39:33
LNG carrier spot rates jump [Shipping]
No LNG carriers are available on the spot market for the first time in five years, helping to push daily spot rates up to more than $60,000 per day. “It’s very tight at the moment,” said one Oslo-based LNG broker. He was unable to provide th...
2011-02-09 08:34:08
Tankers face losses for seven years [Shipping]
All types of tankers except suezmaxes are set to face negative earnings for next seven years, as weak freight rates and record numbers of new ships trading outpace global demand for crude and products transport. US-based tanker consultancy McQuill...
2011-02-09 08:29:34
Austal wins ferry order [General]
Austal has clinched an AUD8m ($8.1m) contract with New Caledonia’s Mary D Enterprises to build a high-speed passenger ferry. The 35-meter vessel, which is due for delivery in November, is intended for operation in New Caledonia, principally bet...
2011-02-09 08:12:55
Hitachi Zosen net profit falls [Finance]
Hitachi Zosen's net profit dropped in the first three quarters. The Japanese shipbuilder does, however, see the full-year result beating that from the previous financial year while it has kept its forecasts intact. Net profit for the nine mont...
2011-02-09 08:10:05
Naikai Zosen profitability up [Finance]
Japan's Naikai Zosen has seen its nine-month earnings rise despite a fall in revenues. The company said net profit to 31 December was JPY 1.58bn ($19.24m), up from JPY 1.16bn the year before. Revenue fell to JPY 32.02bn from JPY 41.87bn, but ...
2011-02-09 08:07:24
MMHE to win LNG-FPSO [Offshore]
Malaysia Marine & Heavy Engineering (MMHE) Holdings Bhd's orderbook is expected to be positive, with contracts from Petronas' floating liquefied natural gas vessel. MMHE is likely to team up with Technip SA for the hull design of the contract, say...
2011-02-09 07:27:14
Japanese urge action on korean FX [Finance]
Japanese shipbuilders requested for urgent government action to tackle the 'unfair advantage' enjoyed by Korean rivals from an alleged artificially cheap won in foreign exchange (FX) market. In an interview with the Financial Times, Shinjiro Mishima,...
2011-02-09 07:20:04
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