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Offshore
Shipbuilding
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Seadrill buys resale rigs
[Shipping]
Seadrill is to acquire two semi-submersible drilling rigs under construction in Singapore in a deal worth $1.2bn. The rigs are the Seadragon I and Seadragon II which are due for delivery from Jurong Shipyard in the first and fourth quarters of 20...
2011-01-04 08:30:47
Gulf Nav acquires VLCC
[Shipping]
Dubai-based tanker owner Gulf Navigation Holding said Sunday that it had acquired a 2006-built 300,000-dwt tanker. The most recent price for a five-year-old VLCC is just under $84m, according to the last available Baltic Sale & Purchase Assessmen...
2011-01-04 08:25:31
Hanjin pays penalty on subcontracts
[General]
Korea Fair Trade Commission (KFTC) announced on 31st December 2010 that it had decided to impose a fine of KRW 18m ($16,000) on Korea's Hanjin Heavy Industries & Construction for Hanjin's dawdling over issuing subcontract agreements to its subcontra...
2011-01-04 08:15:44
Containership to lead 2011
[Shipping]
Domestic and international shipping market situations are expected to remain at a good level this year following last year. According to Clarkson Research Services, a total tonnages of boxships for this year are forecast to reach 15.3m TEU by a 1...
2011-01-04 08:11:29
Shipbuilding to cruise smoothly
[Shipbuilding]
World's shipbuilding industry, which struggled in severe recession until early 2010, is expecting a positive outlook for this year while continuing its recovery phase from last year. In particular, Korea's big four - Samsung Heavy Industries, Dae...
2011-01-04 07:23:25
SPP yards merge into 'SPP Shipbuilding'
[Shipbuilding]
Korea's SPP Group merged its shipbuilding subsidiaries into SPP Shipbuilding as of 1st January 2011. SPP Shipbuilding absorbed SPP Plant & Shipbuilding and the name of the integrated company is to be still SPP Shipbuilding with its headquarters m...
2011-01-04 07:15:10
MAN powers new Chinese rescue ships
[Equipment]
In a prominent contract involving two large rescue ships, MAN Diesel & Turbo is to supply two twin-screw complete propulsion packages based on its latest MAN L48/60CR engines, Renk RSHL reduction gears and newly designed Alpha Mk 5 propellers. The tw...
2011-01-04 07:03:27
CSAV: Hot season ends earlier
[Finance]
Compañía Sud Americana de Vapores (CSAV) currently issued report showed that the average freight rate of the company in November kept slumping. It indicated that the hot season of this year was finished earlier than it was expected. ...
2011-01-04 01:06:18
MSC pursues Maersk
[General]
Having taken deliveries of 19-unit large boxships, Mediterranean Shipping Company (MSC) was closely pursuing Maersk, in terms of fleet scale. According to Alphaliner statistics, 61-unit boxships above 7,500TEU were delivered in 2010. MSC took 19-u...
2011-01-04 01:05:28
China: Lighter ships?
[Shipbuilding]
It was commonly known that the LDT of major three type ships built by China was larger than those built by Korea and Japan. In the past, people thought it was because of unreasonable design and structure. As Chinese design improved, the quality o...
2011-01-04 01:05:00
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