Dae Sun adds 1,040-teu pair [Equipment]
Korean shipbuilder Dae Sun Shipbuilding & Engineering has won additional orders from China's SITC International Holdings for container feedership newbuildings. The owner recently ordered additional two 1,040-teu ships from Dae Sun, costing $39m in...
2011-01-07 07:33:02
Rongsheng eyes boxship & offshore [Shipbuilding]
China's Jiangsu Rongsheng Heavy Industries is relying on fresh containership orders to bridge the gap created by a slowdown in tanker and dry-cargo contracts in 2011. Its CFO Sean Wang expects an increase in boxship orders this year in tandem with...
2011-01-07 07:24:12
16 yards run to Transpetro tender [Offshore]
Sixteen shipyards race for a tender to build eight products carriers for Brazilian tanker owner Transpetro. The shipping affiliate of state-controlled energy giant Petrobras says five of the unidentified companies are based in Brazil while the re...
2011-01-07 07:17:14
Sinotrans to buy a tanker at $100m [Shipping]
Sinotrans announced it intended to splash out $100m to buy MT GRAND SEA built in 2008, from its joint company. Sinotrans owned 50% stock of the joint company. In addition, the ship would be chartered by a subsidiary company of Sinotrans for five y...
2011-01-07 01:31:58
MOL to expand 2011 [Shipping]
President Koichi Muto of Mitsui O.S.K. Lines (MOL) recently made new year address on the forecast of global shipping market in 2011. He expressed whether the shipping market could keep booming depended on the balance between supply and demand. Mut...
2011-01-07 01:30:57
JNS wins six bulkers [Shipbuilding]
Jiangmen Nanyang Ship Engineering Company Limited (JNS) cooperated with Pacific Basin again, with six-unit 35,000dwt bulk carrier orders signed. According to contract terms, all six bulk carriers will enter LR class, to be delivered from the secon...
2011-01-07 01:30:17
Hakodate's newbuilding order is off [Shipbuilding]
Japan's Namura Shipbuilding announced on 28th December 2010 that a contract for the fourth unit of the four series electricity-fueled coastal ships (7,900-dwt cement carriers) its subsidiary Hakodate Shipyard is now building has been canceled. An...
2011-01-06 14:30:17
Hyundai expects highest sales [General]
Korea's Hyundai Heavy Industries is seen to hit the KRW 23.399trn ($21bn) mark in sales this year, the highest amount in history. Lee Sang-won, researcher at Seoul-based Hyundai Securities, said, "with back of diversification of its business portf...
2011-01-06 12:11:12
Daewoo M&A comes into action soon [Finance]
Min Yu-sung, president of Korea Development Bank and chairman of KDB Fiancial Group, said on Wednesday that KDB will carry out sale for Korea's Daewoo Shipbuilding & Marine Engineering as soon as it completes selling Korea Express. Mr. Min convey...
2011-01-06 11:16:12
HMD names and delivers 500th vessel [Shipbuilding]
Korea's Hyundai Mipo Dockyard Co., Ltd. in Ulsan named and delivered its 500th vessel today since the start of new-building business in 1997. The 500th vessel is named 'EGS Crest' which was ordered by East Gulf Shipholding, Inc., a wholly-owned s...
2011-01-06 11:05:11
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