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Shipbuilders see polarization
[Equipment]
Large shipyards and ship block suppliers based in South Jeolla Province, Korea are expected to see an economic recovery while small- and medium-sized yards would continue to have difficulties in their management further. According to an economic ...
2010-12-17 08:31:10
K-sure aids $760m ship financing
[Finance]
The Korea Trade Insurance Corporation (K-sure) revealed on Thursday it has decided to support a long-term export insurance worth $760m for a massive bulk carrier export project ordered by Vale, the largest iron ore production company in Brazil, from ...
2010-12-17 08:16:00
Kogas to buy 15% stake in CBM project
[General]
South Korea's Kogas will take a 15% stake in Australia's Gladstone coal bed methane project and sign a 20 year import deal with Santos this week. A South Korean government statement reported by Reuters indicated Kogas would buy 7.5% of the projec...
2010-12-17 08:01:55
Vinashin defaults? Moody’s cuts credit rating
[Finance]
Vietnam's beleaguered state-run shipbuilding company does not have enough money to make a $60m loan payment next week, and has asked foreign creditors for more time to pay, state-run media reported. Nguyen Ngoc Su, chair of the Vietnam Shipbuildin...
2010-12-17 07:57:33
Hempel opens new factory in China
[Equipment]
Leading protective coatings supplier Hempel officially opened a new, state-of-the-art manufacturing facility this week in Guangzhou, China. Hempel’s new factory will help the company meet the increasing demand for coatings in the region. The fa...
2010-12-17 07:53:23
STX-USC JV inks 1st order
[Offshore]
Russia's Sovcomflot has penned a $200m order for a pair of supply vessels at a newly-formed joint venture shipyard in Finland. The order for two multi-functional icebreaking units marks a swift piece of business for Arctech Helsinki Shipyard Oy w...
2010-12-17 07:48:01
Yangzijiang acquires equipment supplier
[Equipment]
China’s Yangzijiang Shipbuilding has taken over a neighbouring marine equipment supplier to boost its Jiangsu operation. It is paying CNY 420m ($63m) for 100% of Jiangsu Zhongzhou Marine Equipment (JZME) in Jingjiang City. The company owns s...
2010-12-17 07:42:23
OECD talks collapse
[General]
The Community of European Shipyards’ Association (CESA) claims the door has been left wide open for unsustainable 'predatory pricing' and some 20 years of efforts to level the global playing field for shipbuilders have come to a “bitter end.” ...
2010-12-17 07:37:40
Hudong scores 8,888-teu pair
[Shipbuilding]
Hong Kong shipowner OOCL has ordered two 8,888-teu containerships from China's Hudong-Zhonghua Shipbuilding. The owner confirmed the order on Thursday but would reveal no further details. The line has been linked with newbuilding activity for t...
2010-12-17 07:23:57
Seminar for overseas markets
[General]
The Busan branch of Korea Industrial Complex Corp. and Busan Marine Equipment Association (BMEA) hosted an 'invitation seminar for shipbuilding equipment export specialists' in Paragon Hotel in Busan, Korea, yesterday. Around 100 officials from 50...
2010-12-16 12:42:01
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