Rongsheng: How to spend $18bn? [Shipbuilding]
In this year, China’s Rongsheng Heavy Industries Group has collected over CNY120bn ($18bn) through bank credit line and IPO. CFO Wang Shaojian of Rongsheng thought shipbuilding was featured with periodicity and the overcapacity became more seri...
2010-12-29 11:39:31
CSBC to win Evergreen 8,000TEUs [Shipbuilding]
According to report from Taiwanese media, CSBC was expecting a turning point on newbuilding orders with compatriot Evergreen! As is revealed, Evergreen and CSBC had reached agreement on ten-unit 8,000TEU boxships. The contract would be signed soon...
2010-12-29 11:08:11
No holidays for Korean shipbuilders [General]
As a fast recovery in new order intake brings about a big amount of workload, no shipbuilders in Korea can have extra holidays for the New Year's day which falls on a weekend. According to industry sources, large shipbuilders, such as Hyundai Hea...
2010-12-29 10:26:19
Hyundai ship orders soar 800% [Shipbuilding]
Korea's Hyundai Heavy Industries disclosed through a public announcement yesterday that its total sales in November this year were estimated at KRW 2,235.8bn ($1.953bn), which was a 26.75% increase compared to the same period of last year. The com...
2010-12-29 09:41:37
CSBC forecasts higher turnover [Shipbuilding]
The new chairman of Taiwan’s largest shipbuilder CSBC Corporation forecast that the corporation will post a turnover of NT$30 billion (US$1 billion) in 2011, about NT$4 billion more than this year. Tan Tai-ping, who assumed chairmanship of CSBC ...
2010-12-29 08:43:34
$28.5m boost for Bangladesh shipbuilding [Equipment]
The booming shipbuilding industry in Bangladesh is set to get 2bn taka ($28.5m) refinancing fund as the central bank reviews the scheme at its board meeting. A Bangladesh Bank (BB) official said that the bank was keen to start funding the growing ...
2010-12-29 08:40:06
Vinashin to deliver 64 ships [Shipbuilding]
Vietnam Shipbuilding Industry Group said it will complete a total of 64 ships this year as it strives to “regain its prestige and brand.” The group handed over 22 ships worth $241 million in the first eight months of the year, it said in an e-...
2010-12-29 08:37:11
Alang ship breakers end strike [General]
The four day long strike by ship breakers at Alang, Asia’s largest ship breaking yard ended on Friday evening after the representatives of ship breakers met officials of central excise and other departments concerned to discuss their problems. The ...
2010-12-29 08:33:48
TBS Int'l wins waiver [Finance]
TBS International has landed another reprieve on a series of loans. Nasdaq-listed TBS will only pay interest on the facilities until the end of January, a statement says. In the interim the shipowner says it will continue to work with its bank...
2010-12-29 08:31:11
DryShips funding capability in question [Shipping]
George Economou’s decision to take DryShips into the tanker market has once again raised questions on Wall Street about how it will pay for a major project. Nasdaq-listed DryShips agreed to fork out $770m for a dozen newbuildings last week in w...
2010-12-29 08:28:12
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