Stolt buys secondhands instead of newbuilds [Shipping]
Norway's Stolt-Nielsen is buying seven chemical tankers for $255m to fill the gap caused by newbuilding cancellations. The vessels, together with six chartered from Jo Tankers for three years, effectively replace the newbuildings it cancelled at ...
2010-11-05 08:29:58
Kawasaki pre-signs eight ships [Shipbuilding]
Kawasaki Heavy Industries revealed it is finalizing new orders for eight ships. It said it is winning ocean-going ship orders for the first time since the global financial crisis began in late 2008. It seems that the shipbuilder is negotiating ...
2010-11-05 08:20:31
Minaminippon first wins wood-chip carrier [Shipbuilding]
Japan's Mitsui O.S.K. Lines (MOL) announced on November 4th that it has recently ordered two 3.8 million CFT (cubic feet) wood chip carriers from compatriot Minaminippon Shipbuilding. Delivery is set for 2013. It is for the first time that Mina...
2010-11-05 08:06:12
Hyundai inks aframax pair [Shipbuilding]
Korea's Hyundai Heavy Industries has reportedly won an order for aframax tankers for the first time in over two years. The world's No. 1 shipbuilder is said to have inked two 112,000-dwt tankers with Arab Maritime Petroleum Transport Company (AMPT...
2010-11-05 07:52:42
SCI puts off yard buy [General]
Shipping Corp of India (SCI) has postponed its plan to buy a 15% stake in a shipyard following government pressure. Indian media reported that the shipping ministry issued a directive warning that any diversification into shipyards or ports may h...
2010-11-05 07:44:56
Hanjin stronger backed by boxes [Equipment]
A recovering containership market has helped Hanjin Shipping to a stronger than expected third quarter profit. Red ink from the owner’s dry-cargo wing could not stand in the way as Hanjin overturned heavy losses seen at this stage a year ago. H...
2010-11-05 07:42:32
Costamare IPO falls short [Finance]
Costamare’s IPO pot will fall almost $80m short of its initial target after the Greek owner took a step closer to Wall Street last night. It is set to raise $160m from the sale of 13.3 million shares at $12 each. Underwriters could help push ...
2010-11-05 07:40:15
Products carrier agony continues at Torm [Shipping]
A weaker than forecast products carrier market is set to drive Danish tanker owner Torm deeper into loss. Torm has revised its forecast result for this year sharply down as expectations of a market recovery have not led translated into higher fre...
2010-11-05 07:35:52
Jiangsu ship exports rise 51% [Equipment]
Chinese Jiangsu Province's ship exports in the first three quarters of this year increased by 50.5 per cent year on year to US$9.7 billion, Xinhua reported. Processed ship exports valued $9.6 million, up 52.6 per cent, accounting for 99 per cent ...
2010-11-05 07:31:53
Hitachi Zosen remains optimistic [Finance]
Japanese shipbuilding group Hitachi Zosen has posted lower interim earnings, but remains confident of full-year growth. The co-owner of Universal Shipbuilding Corp said net profit in the six months to 30 September was JPY 5.6bn ($69.22m) from JPY...
2010-11-05 07:29:01
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