Delivery delays continue in 2011 [Shipbuilding]
Shipowners continue to defer newbuilding deliveries and just 60% of the ships set for delivery in 2011 are expected to be actually delivered this year. Of the 2011 orderbook that totals 236.1m dwt, including newbuilding deliveries that slipped fro...
2011-01-28 12:31:28
VLGC market taking upward trend [Shipping]
The current market conditions of VLGCs around 80,000 CBM in scale are taking an upturn. Short-term freight rates between the Middle East and Japan route have increased by almost $5 compared to a week earlier to $40 per ton. They continued a ...
2011-01-28 12:07:42
Sasebo saw decreased results [Finance]
Japan's Sasebo Heavy Industries announced the settlement of accounts during the period from April to December 2010 yesterday. Sales decreased by 7% versus the previous year to JPY 46bn ($556m), operating profit down by 7% to JPY 5.3bn and recurri...
2011-01-28 11:42:01
No way out for Hanjin's layoff? [General]
The citizens representative of Busan-based civil society organizations had suggested five-party talks to settle continuing labor-management conflicts of Korea's Hanjin Heavy Industries but the suggestion has turned into nothing. The citizens repre...
2011-01-28 10:38:35
China: Low- level price this year [Shipbuilding]
On January 27th, China Association of the National Shipbuilding Industry (CANSI) said the ship price might hang around low level this year. Considering foreign exchange rate and cost rising, the slump was limited. CANSI predicted in 2011 Chinese s...
2011-01-28 10:30:23
Daewoo; "nothing fixed on drillship order" [Offshore]
Korea's Daewoo Shipbuilding & Marine Engineering revealed yesterday through the disclose that "Nothing has been confirmed yet about the new drillship order from Norwegian shipowner." The yard says, "Regarding the drillship order placed by Norway's Ak...
2011-01-28 10:14:02
Singapore rolls out new ship SNP contract [General]
Singaporean SSF recently rolled out their own ship sales and purchase contract format due to urgent local demands for unified sale and purchase contract. At present, it was commonly known that most global shipping players used either Japanese or N...
2011-01-28 10:11:09
CSSC targets $16.5bn revenue [Shipbuilding]
On January 26th, China State Shipbuilding Corporation (CSSC) announced that the group eyed on CNY110bn ($16.5bn) revenue and CNY7.8bn profits, as well as 20% growth of economic value added (EVA). In 2010, the revenue of CSSC reached CNY90.2bn. In ...
2011-01-28 10:10:21
HMD, operating profit 41.2% up [Finance]
Korea's Hyundai Mipo Dockyard (HMD) publically disclosed yesterday that 2010's operating profit jumped by 41.2% versus the previous year to KRW 546.6bn ($489m). In terms of sales and net profit during the term, both increased by 0.8% year-on-year...
2011-01-28 09:56:54
China delivers the most in 2010 [Shipbuilding]
Chinese shipbuilders delivered more than 61m dwt of newbuildings in 2010, a 70% increase on the 36m dwt delivered in 2009, as fresh yards ramped up output. By comparison, Korean shipbuilders showed only a small amount of growth, with 2010 volumes ...
2011-01-28 09:25:03
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