STX inks supramax pair [Shipbuilding]
STX Offshore & Shipbuilding has won orders for two more supramax newbuildings from Helikon Shipping. London-based Helikon has taken up options on the pair to double its tally at the Korean shipyard. The shipowner first turned to STX for two 5...
2011-01-19 07:49:59
Hyundai Samho names Hanjin 8,600TEUs [Shipbuilding]
Korea's Hanjin Shipping held a naming ceremony on the morning of the 18th January in Hyundai Samho Heavy Industries in Mokpo in South Jeolla Province, Korea. The ceremony was attended by Lee Won-woo, vice president of Hanjin Shipping, Oh Byeong-u...
2011-01-19 07:28:22
Newbuilding back to normal [Shipbuilding]
As the total of world's newbuilding orders for this year is estimated at 35m CGT, increasing by 4% as compared to 2010, a recovery in newbuilding orders is expected to be faster than expected after the severe recession in 2009. This corresponds to...
2011-01-19 07:21:07
Counter outlooks on IFRS introduction [Finance]
Rising are conflicting prospects on the effects of soon-to-be implemented IFRS (International Financial Reporting Standards). Majority of Korea's shipyards concern about debt ratio to increase rapidly if IFRS's modified rules are exercised as the...
2011-01-19 07:11:28
Maersk eyes on sustainable growth [Finance]
CEO Nils Smedegaard Andersen of A. P. Moller-Maersk Group indicated as the world trade growth and personal income of developing countries were both increasing, global container shipping industry was expected to keep sustainable growth. Without doubt,...
2011-01-18 14:30:08
New round of race begins [Equipment]
In spite of positive sign from container shipping market, CEO Wang Yougui of Seaspan still kept cautious views. He said it would be not bad this year but not so good as 2010, due to delivery storm, overcapacity, high oil price and low freight. As ...
2011-01-18 13:04:32
Hyundai expands supports for partners [General]
Korea's Hyundai Heavy Industries (HHI) held a New Year's party on the morning of the 18th January in Hotel Hyundai in Ulsan, inviting representatives of its 217 subcontractors and told to strengthen supports for the subcontractors more. The party...
2011-01-18 12:34:13
Hyundai invests in renewable energy [General]
Korea's Hyundai Heavy Industries will earnestly come forward to expand an investment in the renewable energy sector this year. First of all, Hyundai separates the photovoltaic and wind power businesses from its electro electric systems and newly e...
2011-01-18 12:02:10
MOL sends 50 technicians to China [Offshore]
Japan's shipping company, MOL, will send around 50 technicians to the LNG carrier building site in China. Investing about JPY 100bn ($12bn), MOL sends the technicians in the largest scale in history to Hudong-Zhonghua Shipbuilding, which is going...
2011-01-18 11:32:55
CSIC: Excellent 2010 [Finance]
On January 17th, China Shipbuilding Industry Corporation (CSIC) announced the group basically kept two-digit growth in 2010. The new orders were increased by 292%. Obviously the recovery of shipbuilding industry was coming. As is introduced, in 20...
2011-01-18 10:37:14
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