HMD names trio, plans to deliver 86 [Shipbuilding]
Korea's Hyundai Mipo Dockyard has started a vigorous sailing for 2011 by making the first deliveries of the New Year. The yard revealed that it had a naming ceremony for the second ship, Hull No. 2197, of the four 52,000-ton class product carrier...
2011-01-06 07:16:44
Power Jumping in 2010 [Shipping]
In 2010, most shipping lines turned around. Lots of them were busy with finance to operate and order new ships. Experiencing nightmare in 2009 with loss of $15-20bn, the profits of shipping lines were expected to reach $13-15bn. In spite of warnin...
2011-01-06 01:04:34
Rongsheng budgets $450m for 2011 [Shipbuilding]
On January 4th, Chen Qiang, Chairman of Jiangsu Rongsheng Heavy Industries Group, said the shipbuilding industry would still be the focus of the group in next two years. As energy-saving and emission reduction drew eyes, the offshore business wou...
2011-01-06 01:04:02
China-based Korean pursue CNY [Finance]
More and more Korean medium and small enterprises adopted CNY settlement. CNY settlement became more frequent than before among Korean companies in China. Hyundai Heavy Industries which is Korea’s largest shipbuilder began using CNY settlement i...
2011-01-06 01:03:26
Mingde: 11 orders in five days! [Offshore]
China’s Mingde Heavy Industry took 11 new ship orders in five days, totaling $1.2bn. It included lake size bulk carrier and log carrier. Obviously Mingde became one of leading shipbuilders in Nantong Shipbuilding Industry, Jiangsu. Mingde was an...
2011-01-05 12:21:55
SPP runs to $5bn sales [General]
Korea's middle-standing shipbuilding company SPP Group has uncovered its new vision to attain KRW 5trn ($5bn) in its sales by 2015. Lee Nak-young, chairman of SPP Group, declared group's growth target named 'Vision 2015' in New Year's kick-off me...
2011-01-05 11:33:17
Doosan eyes skyrocketing stocks [Finance]
Korea's Doosan Engine saw its stocks soaring on the first day of trading, overcoming the volume burden of paid-in capital increase. The world No.2 diesel engine producer Doosan formed its initial trading price at KRW 22,350 ($20), but the price s...
2011-01-05 10:48:32
Happy 2010 for Chinese [Equipment]
2010 was definitely a happy year for most Chinese shipbuilders. Jiangsu Yangzijiang Shipbuilding was one of them. In the first eleven months of 2011, Yangzijiang delivered 45 ships while the output of Jiangsu Province reached 19.86m dwt, which ex...
2011-01-05 10:13:35
NTC: full ahead VLCC fleet [Shipping]
In 2012, Nanjing Tanker Corporation (NTC) will take 20% of China’s marine crude oil import market. As a result, NTC will concentrate on establishment of VLCC fleet in next two years. In 2011, NTC will take five-unit VLCCs, which occupies 2% of t...
2011-01-05 10:12:47
Hanjin holds naming ceremony under strike [Shipbuilding]
Korea's Hanjin Heavy Industries & Construction held a naming ceremony for its 180,000-ton class bulker, 'CHRISTINA BULKER´, at Youngdo yard yesterday while the company still struggles in restructuring and general strike. The newly named capesize...
2011-01-05 10:07:19
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