Vigor acquires Todd Shipyards [General]
New York-listed Todd Shipyards Corp is to be taken private in a $130m bid by Oregon-based shipyard group Vigor Industrial. The deal unites the two biggest shipyard groups in the US Pacific Northwest. Todd's repair and newbuilding operations i...
2010-12-24 08:07:51
Samsung wins 6 Suez + 6 Aframax [Shipbuilding]
Greece's DryShips, a shipowner of deep-water drilling rigs and bulk carriers, said it has entered into the tanker segment by signing an agreement to purchase 12 tanker newbuildings for $770m from Korea's Samsung Heavy Industries. The investment i...
2010-12-24 08:01:52
Daewoo M&A to face new regulations [Finance]
Jin Dong-soo, chairman of Korea's Financial Service Commission (FSC), revealed in the press conference on Wednesday that an investigation on potential buyer's sources of funding will be intensified for the government-led M&As. To prevent a large-...
2010-12-24 07:33:56
Steel manufacturers aim high [Equipment]
Korea's two big steel companies - Posco and Hyundai-Steel - are said to have expanded their sales target for next year by about 2m tons and 4m tons higher than this year's, respectively. Therefore, Posco's annual sales target for 2011 is to be 34...
2010-12-24 07:29:20
Orderbook turns to growth! [Shipbuilding]
With the global orderbook showing an upward trend both in the number of ships and tonnage in early December against last month, Korea has got ahead of China in new orders based on contract values so far this year. According to the statistics by C...
2010-12-24 07:23:18
Evergreen signs syndi-loan [Finance]
On December 21st, Taiwanese Evergreen signed syndicated loan with eight local banks totaling $164.8m, as long as seven years. The eight banks were Mega International Commercial Bank, China Trust, First Bank, Chang Hwa Bank, Hua Nan Bank, Land Bank...
2010-12-23 11:42:42
Shipping: Uncertain forecast [Shipping]
On December 20th, U.N issued report in Geneva, reviewing on shipping market of 2010. The report showed the global shipping trade volume totaled 7.84bn tons in 2009, reduced by 4.5% against a year earlier. In spite of recovery this year, the forecast ...
2010-12-23 11:14:21
IHIMU makes 20 deliveries [Shipbuilding]
Japan's IHIMU revealed Tuesday it delivered 20 vessels totoaling 1,233,403 GT in 2010, increasing by 8% as compared with last year in GT. When it comes to the total deliveries by each yard for 2010, Kure Shipyard showed an year-on-year 9% decrease to...
2010-12-23 10:58:36
Hanjin invests millions in energy sector [General]
Korea's Hanjin Heavy Industries & Construction Holdings will invest around KRW 1trn ($868m) in the energy business over the next two or three years. Hanjin's investment targets are its energy-related affiliates including DaeRyun E&S and recently acqu...
2010-12-23 10:30:49
Mitsui delivers 29 vessels [Shipbuilding]
Japan's Mitsui Engineering & Shipbuilding revealed Tuesday its newbuilding output for 2010 was 29 vessels totaling 1,213,580 GT, declining by 10% in GT against last year, showing an year-on-year decrease in terms of both the number of vessels and GT....
2010-12-23 09:04:20
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