Korea eyes highest exports for January [Finance]
According to the reports of export-import trends released by Korea's Ministry of Knowledge Economy on the 1st of January, Korea had a surplus of overall $3bn last month. The exports of last month increased by 46% year-on-year, representing $44.9bn...
2011-02-08 09:53:20
China tops list of newbuild investment [Shipping]
China remained the biggest spender on new ships in 2010, investing $11bn, up 106% year-on-year. Greek shipowners increased newbuilding investment by 284% to $10.8bn last year, ranking 2nd to Chinese, according to Clarksons. Driving the China rise ...
2011-02-08 09:40:28
Asian oil demand edges up [Shipping]
OPEC is loading more cargoes this month as Asian demand returns. UK analyst Oil Movements said shipments will rise 1.7% in the four weeks to 19 February. This will mean 24.16m barrels per day (bpd) being pumped into tankers, up from 23.75m bpd...
2011-02-08 09:31:34
Only one bidder for Croatian yard [General]
Croatia said it has received just one bid from a local company for a major shipyard it is trying to sell to satisfy a key condition for wrapping up its European Union entry talks by July. Restructuring of the docks, which are heavily subsidised co...
2011-02-08 08:56:37
RS class performs well in 2010 [General]
Russian Maritime Register of Shipping (RS) demonstrated sustainable development in 2010 despite the continuing effects of the global economic downturn on the maritime industry. The efficiency of Russian shipbuilding increased in 2010 mainly owing...
2011-02-08 08:50:46
Hyundai signs six-boxship order [Shipbuilding]
Hyundai Heavy Industries confirmed it has won an order for six boxships but would not disclose further details about the deal. A spokesman said it remained to be seen whether the company would make a regulatory filing to the Seoul exchange. The...
2011-02-08 08:45:40
Sanoyas profit jumps 40% [Finance]
Sanoyas Hishino Meisho pumped up its profit in the nine months to the end of 2010. The Japanese shipbuilder pocketed JPY 1.38bn ($16.91m) during the period, up almost 40% on the same stretch a year earlier. Its improved performance came despi...
2011-02-08 08:36:42
Turkey yards in crisis [General]
Turkish shipyards are facing a crisis situation of life-and-death, with the number of active yards plunging 60% since 2008 The country’s shipbuilding sector expanded rapidly from 2005 as orders flooded in. But the financial downturn prompted ma...
2011-02-08 08:33:20
Bharati hit by finance costs [Finance]
India’s Bharati Shipyard posted reduced net profit in the third quarter despite sales rising. Net profit for the three months to the end of December was INR 231.6m ($5.09m) as against INR 329.3m a year earlier. This was despite revenues swel...
2011-02-08 08:21:09
STX inks six LPG carriers [Shipbuilding]
Korean shipbuilder STX Offshore & Shipbuilding has bagged six LPG/ethylene carriers from Unigas International. Unigas is to pay around $31m for each for the 6,800 cu m semi-refrigerated vessel which can carry cargo at minus 102 degrees Celsius. ...
2011-02-08 08:15:26
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