Tsakos set to order new tankers [Shipping]
Greek owner Tsakos Energy Navigation (TEN) is to order a pair of tanker newbuildings but is remaining mum on much of the detail. An unidentified “national oil major” has penned long-term charter contracts with Nikolas Tsakos-led TEN for a pai...
2010-11-24 07:34:24
Costamare wins China newbuilding cash [Finance]
Costamare is poised to tap China for cash to help pay for a trio of newbuildings. A loan for the three vessels booked at Shanghai Jiangnan Changxing Heavy Industry will soon be sorted, its CFO says. Gregory Zirkos told investors on a conference c...
2010-11-24 07:30:37
DryShips inks drillship options [Offshore]
DryShips has lined up a $2.4bn drillship order on a bet that newbuilding prices have bottomed out. The Nasdaq-listed owner says it has penned a series of options to build up to four ultra-deepwater drillships at a "major" South Korean shipyard, a...
2010-11-24 07:24:48
STX Dalian pens 6,500TEU's [Shipbuilding]
Amid recovery in container shipping market, STX Dalian Shipbuilding Complex, Chinese subsidiary of Korea's STX Offshore & Shipbuilding, has inked a contract to build three 6,500-teu container vessels. The shipbuilder recently put pen to paper on t...
2010-11-23 09:28:08
Highest ratio of subcontractors: Where? [General]
Korea's Ministry of Employment and Labor conducted a survey of in-house subcontractors of Korea's large companies employing over 300 workers in 2008. According to its findings, 368,600 workers, which was equivalent to 21.9% of the whole employees...
2010-11-23 09:15:59
Samho secures RG [Finance]
Korea's Samho Shipbuilding, which is in the process of management normalization, will be issued a RG (Refund Guarantee) for the new orders the company has recently won for six newbuildings. The creditors council, which consists of 11 financial co...
2010-11-23 09:05:30
Korean WIG's first test flight [Offshore]
The commercial model of Wing In Ground effect ship (WIG), which combines the advantages of a ship and an aircraft, successfully made the first test sailing on November 18th in the city of Yeosu, South Jeolla Province, Korea, attracting attentions as ...
2010-11-23 08:51:42
Korean Uni. sets up Cruiseship Interior major [Equipment]
Recently, Korea's shipbuilding companies have been getting warmed into entering the cruiseship newbuilding market. Taking this atmosphere, Korea's Doowon Technical University College has newly set up a major of Cruiseship Interior in the division...
2010-11-23 08:36:35
China dominant in price competition [Finance]
As the appreciation of the yuan against the dollar is in very slow progress compared to the won and the yen, Chinese shipbuilding industry seems to enjoy the prominent position in the price competition. While the won and the yen have showed an ar...
2010-11-23 08:26:14
NYK orders lightweight-cargo tonnage [Shipping]
Japan’s Nippon Yusen Kaisha (NYK) is planning to order 10 special-design panamax bulkers dedicated to trade lightweight cargoes such as grain, woodchip pellets and soybean meal to Asia. The 70,000-dwt vessel has been drawn up by Japan’s Oshim...
2010-11-23 07:33:16
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