Drillship orders to surge in 2011 [Offshore]
Newbuilding orders for offshore plants including drillships and drilling rigs are expected to be placed in earnest from next year. Kim Hong-gyun, an analyst of Dongbu Securities, prospected as newbuilding orders for offshore plants, expecially fo...
2010-12-09 08:10:20
Giant repair base coming in Fujian [General]
The ship repairing project of Fujian Quanzhou Shipbuilding Industry Co., Ltd will be completed next year, which could fill the gap that there are no large scale docks and ship repairing yard between Shanghai and Guangzhou, said Zhao Yunbao, executive...
2010-12-09 07:56:32
Vinashin to default on debt repayment? [Finance]
International creditors of Vietnam’s troubled state-owned shipbuilding firm said Tuesday that they would reject government requests to delay a first bond payment due December 20. A source close to Credit Suisse Group, representing the lenders, s...
2010-12-09 07:52:26
Primorye yard duo bag 47 orders [Shipbuilding]
Two modern shipyards projected to be built in Russian Primorye Territory have secured orders for 47 large ships. The delivery of more than 60% of the orders is scheduled for 2011-2015, the regional administration said referring to the contracts s...
2010-12-09 07:48:25
Oversupply to affect bulker rates: 2011 [Shipping]
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s analyst Peter Sand. Still, there will be moments in 2011 where rates will spike due to inefficiencies...
2010-12-09 07:45:10
Safe catches bargain newbuilding [General]
Safe Bulkers is playing its cards close to its chest as to how it captured a capesize newbuilding at a knock-down price. New York-listed Safe revealed yesterday it had booked the $53m newbuilding in China against a 10-year charter contract. In a ...
2010-12-09 07:40:26
Daewoo linked to drillship order [Offshore]
Daewoo Shipbuilding & Marine Engineering's share price rose as speculation mounts a new order announcement is imminent. South Korean shipbuilder DSME jumped 3.8% to 29,950 won yesterday, the most since Nov. 19, on speculation the company may win ...
2010-12-09 07:34:48
Sinopec cooperates with CMES [Shipping]
In the past 11 months of this year, the crude oil volume transported by China Petroleum and Chemical Corporation (Sinopec) reached over 10m tons, from compatriot China Merchants Energy Shipping (CMES). It doubled that of last year. Chairman Li Ji...
2010-12-09 01:10:47
Shipbuilding fight goes on [Shipbuilding]
In November, global new orders reached 123 units of 6.85dwt. China, Japan and Korea continued their bloody fighting in global newbuilding market. Chinese shipowners strongly support shipbuilding market. China Shipping Development ordered 1.79m dwt...
2010-12-09 01:09:58
JPY appreciation triggers tough time [Finance]
As is known, the exchange rate of Japanese Yen kept strong appreciation recently and was speeding up. Although Japanese government took lots of measures but it was not effective clearly. Analyst thought the JPY appreciation would continue while Ja...
2010-12-09 01:09:20
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